When (SPX) Moves Investors should Listen

January 26, 2024, 11:22 am ET, BY John- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SPX

• Buy SPX slightly over 4842.75 target n/a stop loss @ 4828.76. Details

The technical summary data tells us to buy SPX near 4842.75, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 4828.76 to protect against excessive loss in case the stock begins to move against the trade. 4842.75 is the first level of support below 4899.69, and by rule, any test of support is a buy signal. In this case, if support 4842.75 is being tested, a buy signal would exist.

• NONE . Details

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for SPX

• Buy SPX slightly over 4911.89, target n/a, Stop Loss @ 4897.7 Details

If 4911.89 begins to break higher, the technical summary data tells us to buy SPX just slightly over 4911.89, with an upside target of n/a. The data also tells us to set a stop loss @ 4897.7 in case the stock turns against the trade. 4911.89 is the first level of resistance above 4899.69, and by rule, any break above resistance is a buy signal. In this case, 4911.89, 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 4911.89, target 4843.13, Stop Loss @ 4926.08. Details

The technical summary data is suggesting a short of SPX if it tests 4911.89 with a downside target of 4843.13. We should have a stop loss in place at 4926.08 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, 4911.89, 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 4911.89, target 4917.18, Stop Loss @ 4900.43 Details

If 4911.89 begins to break higher, the technical summary data tells us to buy SPX just slightly over 4911.89, with an upside target of 4917.18. The data also tells us to set a stop loss @ 4900.43 in case the stock turns against the trade. 4911.89 is the first level of resistance above 4899.69, and by rule, any break above resistance is a buy signal. In this case, 4911.89, 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 4911.89, target 4884.79, Stop Loss @ 4923.35. Details

The technical summary data is suggesting a short of SPX if it tests 4911.89 with a downside target of 4884.79. We should have a stop loss in place at 4923.35 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, 4911.89, 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 January 26:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Strong
P1	0	0	4507.87
P2	4884.79	4843.13	4684.78
P3	4917.18	4911.89	4842.75

AI Generated Signals for SPX

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