How the price action of S&p 500 Index (SPX) is used to our Advantage

Source: Stock Traders Daily

Longer Term Trading Plans for SPX
  • NONE. Details
  • There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
    This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

  • Short SPX under 4148.36, target n/a, stop loss @ 4160.34 Details
  • The technical summary data is suggesting a short of SPX as it gets near 4148.36, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 4160.34. 4148.36 is the first level of resistance above 3973.75, and by rule, any test of resistance is a short signal. In this case, if resistance 4148.36 is being tested, so a short signal would exist.

Swing Trading Plans for SPX
  • Buy SPX over 3977.50, target 4148.36, Stop Loss @ 3966.01 Details
  • If 3977.50 begins to break higher, the technical summary data tells us to buy SPX just over 3977.50, with an upside target of 4148.36. The data also tells us to set a stop loss @ 3966.01 in case the stock turns against the trade. 3977.50 is the first level of resistance above 3973.75, and by rule, any break above resistance is a buy signal. In this case, 3977.50, 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 near 3977.50, target 3844.64, Stop Loss @ 3988.99. Details
  • The technical summary data is suggesting a short of SPX if it tests 3977.50 with a downside target of 3844.64. We should have a stop loss in place at 3988.99 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, 3977.50, 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 over 3812.98, target 3844.64, Stop Loss @ 3804.08 Details
  • If 3812.98 begins to break higher, the technical summary data tells us to buy SPX just over 3812.98, with an upside target of 3844.64. The data also tells us to set a stop loss @ 3804.08 in case the stock turns against the trade. 3812.98 is the first level of resistance above , and by rule, any break above resistance is a buy signal. In this case, 3812.98, 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 near 3812.98, target n/a, Stop Loss @ 3821.88. Details
  • The technical summary data is suggesting a short of SPX if it tests 3812.98 with a downside target of n/a. We should have a stop loss in place at 3821.88 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, 3812.98, 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.

SPX Technical Summary | Raw Data for the Trading Plans

Term →Near Mid Long
Bias Weak Weak Neutral
P1 0 0 4148.36
P2 3812.98 3844.64 4430.74
P3 3936.12 3977.50 4704.00

SPX Long Term Analysis for May 23 2022


SPX Swing Trading Analysis for May 23 2022


SPX Day Trading Analysis for May 23 2022

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.

Graph of Evitar Corte vs. S&P 500

AD