Thread by @RhythmicAnalyst, S&P500 is at the key level. It could correct from this level. [...]

S&P500 is at the key level. It could correct from this level.

[the correction would be invalidated, if the Yellow channel is broken on the upside]

#SP500 #Equity https://twitter.com/RhythmicAnalyst/status/1225072070477914113

https://twitter.com/RhythmicAnalyst/status/1225072070477914113

S&P 500 is under correction as indicated last week.

Need to observe for couple of weeks for its trend going ahead.

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S&P 500
This is interesting - we see correction from the indicated level. Need to see how it goes in next couple of week.

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S&P 500 corrected further. As indicated on the first tweet on this thread - breaking above the green level (3400) would be tough.

Next week will provide us more clarity.

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S&P500 correction was called out on Feb 5th when it was rising (not when virus related impact was talked about) - that's the key point [refer the first tweet attached]

Still need to observe for couple of weeks to understand the severity.

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S&P 500 fall continues. 2935 seems to be the next target.

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S&P 500 drop continues. 2935 is the next support.

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S&P 500 is near the Orange resistance 3110.

Need 3190 to reverse the trend.

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S&P 500 got rejected by the Orange resistance.

Now, it’s likely to test around 2963.

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S&P500 is likely to hit 2500.

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S&P 500 has dropped by 26% since my first call on the top [before the correction began].

2420 is the next support.

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It's good to see S&P bouncing from the support...!

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S&P bounce is weak...I see more downside risk. Added L4 (2195)

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S&P500 has stopped exactly at L4 support. Let's see if it can hold up and provide bounce.

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S&P500 got perfect bounce from L4 support. Up by 8%.

Bounce up to 2555 or 2665 is normal after such a major drop of 35%.

Trend reversal requires much higher level.

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S&P500 bounced as indicated - so far 15% bounce.

Now, its approaching the Yellow resistance at 2555 - I'm expecting push back. Let's see.
[The orange resistance at 2665 is little higher, the bigger resistance]

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S&P 500 got pulled back near the Yellow resistance - that's what I meant in my last post. Not much as of now - which is good.

Now, either 2665 or down.

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S&P 500 has reached near the Orange resistance. The weekly chart is neutral in my view. It would have been better if there was no sell off in last hour.

Next week should provide the clear direction.

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So far S&P 500 moves are all technical.
- Top (3400) was called out on Feb 5th
- got the bounce 21% from L4 2196
- bounce got rejected by 2665 resistance.

Currently, no downside risk.

Next 2 days will provide more clarity.

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S&P has bounce from the interim support of 2336 - that's good.

It has to break 2777 to get out of the immediate risk. So far so good.

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This thread is on since early Feb, started with alert.

2436 support gave an excellent bounce. Apr 3rd bounce was the indicator - the way support was defended.

Now, it'll try break above the R1 [2665] resistance.

We want 2777 to be broken above.

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S&P ended on a positive note and futures indicating another daily green candle...

We need 2777....getting close.

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S&P reaction near R2 - not a surprise as it was a valid resistance.

Let's monitor further - we'll learn a lot on the trend today/tomorrow.

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S&P has retested R1 - a sign of continuation on the upside.

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S&P is entering into a decisive zone. I'd started buying from Mar 27th - the day L4 support was hit. However, I'm on alert and ready to exit if things south....so let's see....

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S&P is showing a sign of weakness....!

Note that BTC is still coupled [since Feb 14th 2020]

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S&P is under a decisive zone. It has to break above the green level (2980) for trend reversal.

I'm tracking the yellow channel. Today's low was a support - expecting bounce now. If it can cross 2798 then it'll try to break above the green level.

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Did you note where S&P got stopped? At the Yellow level 2798...it was a natural reaction bcz it's a valid resistance...

2798 is the mini-gate to the green level...the green-level unlocks the up-trend.

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S&P bounce has been really good from L4 support [moved by 34%].

It got rejected right at the green level - that's level we want it break above [this was shared many weeks ago].

Price is still under the channel. Next 2 weeks will be critical.

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Today's bounce for S&P was timely and at a key level...!

Just need to 2980.

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S&P getting closer to the Green level - I've been slowly adding up since it bounced from L4 support.

The probability of breaking above is rising. Let's give couple of weeks to be sure.

So far so good.

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Today's drop from S&P 500 to be taken seriously.

3 weeks have passed, it's still stuck in that box and not able to break above the Green level [2980]. It was set March.

The downside risk has gone up. Let's watch it closely.

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As indicated yesterday, S&P has dropped further.

It has touched the channel's support line. Still under the Orange box.

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Last sessions were bad for S&P. Today, it's bouncing from channel's trend line.

It retraced from the resistance [2980]. However, the height is still good, so I won't short and hold long which I'd started from L4 support.

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S&P got a good bounce off the trend-line as indicated early in the session. Up by 1.15%.

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S&P bounce from the channel's trend is a positive sign.

This is a tough time for shorters. There is no risk as long as its remains above 26xx

Not that the price is closer to the break out level, not the support. Shorting makes sense below the support

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S&P is near a break out level. The probability of upside move has gone up now.

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S&P - Not much space left...!! All good so far.

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S&P has touched the green level [2980] precisely.
This is going to be the key moment.

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S&P is at a decisive level [2980] IMO. This was set when it bounced from L4 [2195] support

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S&P futures has broken above 2980 - the level I would like S&P to break above on Tuesday when it opens....!!!

S&P futures are up by 1%.

Chart#1 = S&P futures index
Chart#2 = S&P spot index

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S&P broke above 2980 [the green level].

If you go through the entire thread, you would find
- the call correction from Feb 5th
- the advance call on L4 support of 2195
- the green level of 2980 in early March.

It completes the cycle. I close this thread.

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