S&P500 [ES] | Alternate Bullish Forecast: ๐Buy The Dip ๐
Last week I shared a buying opportunity within the large channel here:
![S&P500 [ES] | ๐ 4H Bullish Engulfing Candle at Channel Support](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
This week I continued to look for long opportunities based on this recent analysis:
While I remain bullish this month, there is still a possibility that we will experience a quick correction before we see continuation to the upside.
Tomorrow morning job data is released before cash session (mainly unemployment rate, avg . hourly earnings , and non-farm employment) www.forexfactory.com/calendar. Market makers will likely use this event as a catalyst for a significant move. Stimulus/Vaccine/Election news this month can also act as potential catalysts.
If bears break this wedge to the downside I will look for long opportunities between $3320 and $3300. The news reaction can be positive or negative, although futures look fairly weak at the moment so I am preparing for the latter. Regardless, I am positioned long and I maintain my bullish outlook for the month. Any selloff will give me an opportunity to buy the dip and add more calls at a discount.
Goodluck
![S&P500 [ES] | ๐ 4H Bullish Engulfing Candle at Channel Support](https://s3.tradingview.com/l/lm8lMR1i_big.png)
This week I continued to look for long opportunities based on this recent analysis:
While I remain bullish this month, there is still a possibility that we will experience a quick correction before we see continuation to the upside.
Tomorrow morning job data is released before cash session (mainly unemployment rate, avg . hourly earnings , and non-farm employment) www.forexfactory.com/calendar. Market makers will likely use this event as a catalyst for a significant move. Stimulus/Vaccine/Election news this month can also act as potential catalysts.
If bears break this wedge to the downside I will look for long opportunities between $3320 and $3300. The news reaction can be positive or negative, although futures look fairly weak at the moment so I am preparing for the latter. Regardless, I am positioned long and I maintain my bullish outlook for the month. Any selloff will give me an opportunity to buy the dip and add more calls at a discount.
Goodluck
