SPX: A complete Multi Time Frame Analysis (H, D and W charts).

Hello traders and investors! Let’s see how the SPX is doing today, and do a complete multi time frame analysis (MTFA).

First, in the 1h chart, we must pay attention to the 21 ema area. The index is clearly in a bull trend, doing higher highs/lows, and this movement might be an early reversal sign.

Pullbacks to the 21 ema or to the red line at 4,375 are expected, and any bullish reaction around these levels will be an opportunity to buy.

Now, let’s see the daily chart:


The 21 ema in the daily chart is working as a resistance for us, so if the index is about to trigger a short-term pullback to the support levels mentioned in the 1h chart, now is the perfect time for this.

I agree that the momentum is still bearish on SPX, in the daily chart, at least, however, since the 4,300 area did such a good job holding the price, this looks like a floor for the index.

The challenge will be to defeat this 21 ema and do higher highs/lows in the daily chart.

So, the 1h chart looks bullish, the daily chart looks slightly bearish but it is giving some signs of reversal. Now, let’s see the weekly chart:


The trend is absolutely bullish in the weekly chart. This week’s sell-off seemed just an excuse for the index bounce at its 21 ema again, and now we are doing a Hammer pattern, just above this support level.

The volume is increasing nicely, and we see no bearish structure here. The only thing required for it to resume the bullish momentum here is a bullish structure in the daily chart, so all time frames can speak the same language.

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Have a good weekend!