{"id":12073,"date":"2022-06-08T10:00:59","date_gmt":"2022-06-08T10:00:59","guid":{"rendered":"https:\/\/tradingshot.com\/?p=12073"},"modified":"2023-05-10T10:03:04","modified_gmt":"2023-05-10T10:03:04","slug":"sp500-the-1d-ma50-is-resisting-scenarios-ahead","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2022\/06\/08\/sp500-the-1d-ma50-is-resisting-scenarios-ahead\/","title":{"rendered":"S&P500 The 1D MA50 is resisting. Scenarios ahead."},"content":{"rendered":"

 <\/p>\n

The S&P500 index (SPX) rose rapidly and almost hit its 1D MA50 (blue trend-line), which is the current Resistance, since our last post:<\/p>\n

\"S&P500<\/a><\/div>\n

The long-term pattern remains a Channel Down since the All Time Highs (ATH), so the trend remains bearish towards the 3810 Support and quite possibly the -0.236 Fibonacci extension as a Lower Low. The fact that the price is struggling to break the 1D MA50, further strengthens this notion.<\/p>\n

Even a break above the 1D MA50, won’t be enough to turn the price bullish long-term, only on the short-term towards the 0.618 Fibonacci retracement level, which was the Resistance level during the January 24 rebound. See how the 1D RSI is currently on similar levels.<\/p>\n

A break-out buy signal wouldn’t be if the price closes above the 1D MA200 (orange trend-line), with a short-term target the 4640 Resistance (and March 29 High). Above the level, we can claim that the index has restored the long-term bullish trend.<\/p>\n

Tradingview link:<\/p>\n

https:\/\/www.tradingview.com\/chart\/SPXUSD\/1y9wg5Ne-S-P500-The-1D-MA50-is-resisting-Scenarios-ahead<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  The S&P500 index (SPX) rose rapidly and almost hit its 1D MA50 (blue trend-line), which is the current Resistance, since our last post: The long-term pattern remains a Channel Down since the All Time Highs (ATH), so the trend remains bearish towards the 3810 Support and quite possibly the -0.236 Fibonacci extension as a<\/p>\n","protected":false},"author":611,"featured_media":12074,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1639],"tags":[],"class_list":["post-12073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stockindices"],"_links":{"self":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/users\/611"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/comments?post=12073"}],"version-history":[{"count":2,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12073\/revisions"}],"predecessor-version":[{"id":12076,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12073\/revisions\/12076"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/12074"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=12073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=12073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=12073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}