How the price action of S&p 500 Index ($SPX) is used to our Advantage
May 12, 2023, 02:00 am ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for SPX
- Buy SPX slightly over 4025.46 target 4215.19 stop loss @ 4013.83 Details
The technical summary data tells us to buy SPX near 4025.46 with an upside target of 4215.19. This data also tells us to set a stop loss @ 4013.83 to protect against excessive loss in case the stock begins to move against the trade. 4025.46 is the first level of support below 4130.62 , and by rule, any test of support is a buy signal. In this case, support 4025.46 is being tested, a buy signal would exist.
- Short SPX slightly under 4215.19, target 4025.46, stop loss @ 4227.36 Details
The technical summary data is suggesting a short of SPX as it gets near 4215.19 with a downside target of 4025.46. We should have a stop loss in place at 4227.36though. 4215.19 is the first level of resistance above 4130.62, and by rule, any test of resistance is a short signal. In this case, if resistance 4215.19 is being tested, a short signal would exist.
Swing Trading Plans for SPX
- Buy SPX slightly over 4160.61, target 4215.19, Stop Loss @ 4148.59 Details
If 4160.61 begins to break higher, the technical summary data tells us to buy SPX just slightly over 4160.61, with an upside target of 4215.19. The data also tells us to set a stop loss @ 4148.59 in case the stock turns against the trade. 4160.61 is the first level of resistance above 4130.62, and by rule, any break above resistance is a buy signal. In this case, 4160.61, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short SPX slightly near 4160.61, target 4089.07, Stop Loss @ 4172.63. Details
The technical summary data is suggesting a short of SPX if it tests 4160.61 with a downside target of 4089.07. We should have a stop loss in place at 4172.63 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 4160.61, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for SPX
- Buy SPX slightly over 4134.92, target 4160.61, Stop Loss @ 4125.27 Details
If 4134.92 begins to break higher, the technical summary data tells us to buy SPX just slightly over 4134.92, with an upside target of 4160.61. The data also tells us to set a stop loss @ 4125.27 in case the stock turns against the trade. 4134.92 is the first level of resistance above 4130.62, and by rule, any break above resistance is a buy signal. In this case, 4134.92, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short SPX slightly near 4134.92, target 4113.83, Stop Loss @ 4144.57. Details
The technical summary data is suggesting a short of SPX if it tests 4134.92 with a downside target of 4113.83. We should have a stop loss in place at 4144.57 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 4134.92, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for S&p 500 Index (SPX) available here: SPX.
SPX Ratings for May 12:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Neutral |
Neutral |
| P1 |
0 |
0 |
3823.11 |
| P2 |
4113.83 |
4089.07 |
4025.46 |
| P3 |
4134.92 |
4160.61 |
4215.19 |
AI Generated Signals for SPX
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The S&p 500 Index (NYSE: SPX) data table below can help you with price action, and we have more details too. Trading plans for SPX are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for SPX:
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