If you are waiting for the right moment to speculate on the S&P500 index, the time has come.
The new contract has tested the key, volumetric level/massive (marked in blue).
Other indices are in a similar +/- situation.
Pay attention to the liquidity delta of the aggressors for the day.
Out of 5 days – 3 were in high imbalance relative to sellers.
If you set aside the news backdrop which is filled on all sides with extremely awful news about the collapse of the banks.
SVB Financial Group operated in the UK, Ireland, Germany, Israel, PRC, Hong Kong, India, Denmark, Canada and the Cayman Islands. The bank was founded by a former Bank of America manager and a Stanford University lecturer.
And if you study the key investment strategy of this bank – bankruptcy was only a matter of time.
And so back to the index.
This week the FOMC is on Wednesday and then the EU Summit 2 days later.
So the dynamics and good price ranges you will enjoy.
As the index has not yet extended the trading range beyond the benchmark levels since the start of the contract.
The key support and resistance levels are marked on the slide. I have attached a heatmap of the stocks from the index – a slice of the month. Please note which sectors are falling in price and which are gaining as if the economy is booming.
Bottom line: price momentum and possible range expansion on Wednesday and Thursday.
If there is any risk, the probability of impulsive moves is high on these days.