{"id":12237,"date":"2022-07-08T08:37:16","date_gmt":"2022-07-08T08:37:16","guid":{"rendered":"https:\/\/tradingshot.com\/?p=12237"},"modified":"2023-05-11T08:41:48","modified_gmt":"2023-05-11T08:41:48","slug":"sp500-about-to-test-the-1d-ma50-for-1st-time-since-april","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2022\/07\/08\/sp500-about-to-test-the-1d-ma50-for-1st-time-since-april\/","title":{"rendered":"S&P500 about to test the 1D MA50 for 1st time since April"},"content":{"rendered":"

 <\/p>\n

The S&P500 index (SPX) has completed three straight green 1D candles and is approaching the 1D MA50 (blue trend-line) for a test that would be its first since April 21. This idea is basically a continuation of out analysis posted two weeks ago, exactly at the bottom (Lower Low) of the Channel Down:<\/p>\n

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

With the markets anticipating favorable NFP numbers today, the index is well on its way to repeat the March rise to a new Channel Down Lower High. That sequence topped a little over the 0.618 Fibonacci retracement level but if repeated, that would push the price above the Channel around 4320, which is also approximately where the 1D MA200 (orange trend-line) is.<\/p>\n

Based on the 1D RSI pattern of the same sequence, we are exactly at the point before the 1D MA50 break-out. If you followed us on the bottom call, you may book the profit and re-engage either if the 1D MA50 breaks or upon a pull-back. In either case, the technical Lower High and target should not exceed 4100.<\/p>\n

The invalidation of this pattern will come only with a weekly closing below the 1W MA200 (red trend-line), in which case we may see a rapid sell-off towards the 1M MA100.<\/p>\n

Tradingview link:<\/p>\n

https:\/\/www.tradingview.com\/chart\/SPXUSD\/lBob12yl-S-P500-about-to-test-the-1D-MA50-for-1st-time-since-April<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  The S&P500 index (SPX) has completed three straight green 1D candles and is approaching the 1D MA50 (blue trend-line) for a test that would be its first since April 21. This idea is basically a continuation of out analysis posted two weeks ago, exactly at the bottom (Lower Low) of the Channel Down: With<\/p>\n","protected":false},"author":611,"featured_media":12238,"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-12237","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\/12237","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=12237"}],"version-history":[{"count":2,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12237\/revisions"}],"predecessor-version":[{"id":12240,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12237\/revisions\/12240"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/12238"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=12237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=12237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=12237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}