SPX500 Plans; Crucial Understanding Of Sentiment

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Powell has just mentioned broader disinflation occurring, and also the need to be less restrictive on rates.

This is propelling SPX long momentum.

If you are looking to trade the SPX, there's a few things you need to know first.

١ أغسطس ٢٠٢٤

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Price just drifting back to highs as expected. Positive sentiment remains and until this is broken, unlikely you will see major falls. Ultimately, just not yet.

٢ أغسطس ٢٠٢٤

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Risk off environment via ISM. May not last, be careful.

٣ أغسطس ٢٠٢٤

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Early Support Level Hit.



Remember, the only thing that will continue this lower is further negative sentiment into next week. Ultimately I expect this to occur, but if it does not immediately and fears subside, then price may returns to highs.

٥ أغسطس ٢٠٢٤

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More fear smashing the SPX, similarly to other risk on assets.

Entries, if any, small.

٦ أغسطس ٢٠٢٤

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Sentiment (fear) waning on more comfortable tone and some yen pair bounces.~

Would not be surprised if sentiment resumes south.

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٩ أغسطس ٢٠٢٤

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Still no extreme confidence as price drifts. Any longs I'd consider closing.