S&P500 - BUY STOP - 19th July 2022

S&P500 - BUY STOP - 19th July 2022 (Closed)

Afternoon traders,

The S&P500 is potentially setting up a bullish technical structure. There is a falling wedge formation which indicates price compression, a breakout generally occurs to the upside of a falling wedge structure. On the first chart below we can see the recent low on the S&P500 is a higher low, which is generally the first sign of a bullish run to the upside. A similar structure occurred back in March this year.

S&P500 Technical Analysis

Using the 1.618% FIB extension tool we can estimate a move into the 4232 resistance should occur, once a breakout above 3917 takes place.

Trade Setup: BUY STOP, entry price 3917, stop loss 3727 and take profit 4232.

Stop Loss: 190 pips

Take profit: 315 pips

Trade Setup


Take Profit

Stop Loss