When the Price of (SPX) Talks, People Listen

January 04, 2024, 20:14 pm ET, BY Mitchell H.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SPX

• Buy SPX slightly over 4616.89 target 4774.7 stop loss @ 4603.56 Details

The technical summary data tells us to buy SPX near 4616.89 with an upside target of 4774.7. This data also tells us to set a stop loss @ 4603.56 to protect against excessive loss in case the stock begins to move against the trade. 4616.89 is the first level of support below 4688.68 , and by rule, any test of support is a buy signal. In this case, support 4616.89 is being tested, a buy signal would exist.

• Short SPX slightly under 4774.7, target 4616.89, stop loss @ 4788.49 Details

The technical summary data is suggesting a short of SPX as it gets near 4774.7 with a downside target of 4616.89. We should have a stop loss in place at 4788.49though. 4774.7 is the first level of resistance above 4688.68, and by rule, any test of resistance is a short signal. In this case, if resistance 4774.7 is being tested, a short signal would exist.

Swing Trading Plans for SPX

• Buy SPX slightly over 4708.93, target 4766.52, Stop Loss @ 4695.33 Details

If 4708.93 begins to break higher, the technical summary data tells us to buy SPX just slightly over 4708.93, with an upside target of 4766.52. The data also tells us to set a stop loss @ 4695.33 in case the stock turns against the trade. 4708.93 is the first level of resistance above 4688.68, and by rule, any break above resistance is a buy signal. In this case, 4708.93, 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 4708.93, target 4616.89, Stop Loss @ 4722.53. Details

The technical summary data is suggesting a short of SPX if it tests 4708.93 with a downside target of 4616.89. We should have a stop loss in place at 4722.53 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, 4708.93, 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 4704.58, target 4708.93, Stop Loss @ 4693.6 Details

If 4704.58 begins to break higher, the technical summary data tells us to buy SPX just slightly over 4704.58, with an upside target of 4708.93. The data also tells us to set a stop loss @ 4693.6 in case the stock turns against the trade. 4704.58 is the first level of resistance above 4688.68, and by rule, any break above resistance is a buy signal. In this case, 4704.58, 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 4704.58, target 4681.36, Stop Loss @ 4715.56. Details

The technical summary data is suggesting a short of SPX if it tests 4704.58 with a downside target of 4681.36. We should have a stop loss in place at 4715.56 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, 4704.58, 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 04:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Strong
P1	0	0	4440.89
P2	4681.36	4708.93	4616.89
P3	4704.58	4766.52	4774.7

AI Generated Signals for SPX

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This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Null (NYSE: SPX) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for SPX can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.