(SPX) Investment Analysis and Advice

October 29, 2024, 16:14 pm ET, BY James G.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SPX

• Buy SPX near 5817.46 target 5975.69 stop loss @ 5800.66 Details

The technical summary data tells us to buy SPX near 5817.46 with an upside target of 5975.69. This data also tells us to set a stop loss @ 5800.66 to protect against excessive loss in case the stock begins to move against the trade. 5817.46 is the first level of support below 5832.92 , and by rule, any test of support is a buy signal. In this case, support 5817.46 is being tested, a buy signal would exist.

• Short SPX slightly under 5975.69, target 5817.46, stop loss @ 5992.95 Details

The technical summary data is suggesting a short of SPX as it gets near 5975.69 with a downside target of 5817.46. We should have a stop loss in place at 5992.95though. 5975.69 is the first level of resistance above 5832.92, and by rule, any test of resistance is a short signal. In this case, if resistance 5975.69 is being tested, a short signal would exist.

Swing Trading Plans for SPX

• Buy SPX slightly over 5851.74, target 5975.69, Stop Loss @ 5834.84 Details

If 5851.74 begins to break higher, the technical summary data tells us to buy SPX just slightly over 5851.74, with an upside target of 5975.69. The data also tells us to set a stop loss @ 5834.84 in case the stock turns against the trade. 5851.74 is the first level of resistance above 5832.92, and by rule, any break above resistance is a buy signal. In this case, 5851.74, 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 5851.74, target 5817.46, Stop Loss @ 5868.64. Details

The technical summary data is suggesting a short of SPX if it tests 5851.74 with a downside target of 5817.46. We should have a stop loss in place at 5868.64 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, 5851.74, 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 5846.63, target 5851.74, Stop Loss @ 5832.99 Details

If 5846.63 begins to break higher, the technical summary data tells us to buy SPX just slightly over 5846.63, with an upside target of 5851.74. The data also tells us to set a stop loss @ 5832.99 in case the stock turns against the trade. 5846.63 is the first level of resistance above 5832.92, and by rule, any break above resistance is a buy signal. In this case, 5846.63, 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 5846.63, target 5817.46, Stop Loss @ 5860.27. Details

The technical summary data is suggesting a short of SPX if it tests 5846.63 with a downside target of 5817.46. We should have a stop loss in place at 5860.27 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, 5846.63, 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 Null (SPX) available here: SPX.

SPX Ratings for October 29:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Strong
P1	0	0	5641.3
P2	5801.16	5798.82	5817.46
P3	5846.63	5851.74	5975.69

AI Generated Signals for SPX

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Prudent Investment Analysis requires observations of the support and resistance levels for Null (NYSE: SPX) too.  These define prudent trading plans.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for SPX change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if SPX is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for SPX too.  All of these are offered below the Summary Table.