Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

SP500 Analysis & Trading Plan - 11 September 2024

11 Sept 2024 · 1 min

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Vladimir Ribakov analyzes the S&P 500 and identifies bearish signals: MACD shows lower highs while price makes higher highs, a downward trendline broke on the 4-hour chart, and the 1-hour shows three consecutive lower highs and lows. Fibonacci levels could trigger the next sell-off.

Chapters

S&P 500 sell? Let's take a look on the chart. 4-hour chart, bearish divergence, higher highs on the chart, lower highs on the MACD, and the most recent trendline is broken to the downside. As this breakout happens, the 1-hour chart gains the bearish momentum by creating classical bearish price action— 3 lower highs, lower lows. Right now we are facing a pullback or corrective structure on the 1-hour chart, but as long as these key Fibonacci levels you can see here on the charts hold, I believe the next portion of the sellers is about to come in.