S&P 500 Market Analysis and Trade Setups

This is SP 500
It was US30 that I went long yesterday, but I closed out and shorted US30 too.
Entry: 51502
SL: 51565

Oh it's okay that could have been a mistake

It is just a pullback simple way of practicing such is my using the previous day high or low as resistance or support and then see how price reacts when it gets to the support or resistance of that previous day daily candle, I use it a lot

Yeah. I use it too.
But I'm practicing on Shorting Indices from ATH, which is different because there has never been historic data for reference compared to trading it on currencies.
It's beyond catching a simple pullback but more like timing and catching trend reversals by building a trading strategy that will enable me to keep trading Assets even when they are on All-Time High adventures.
today's shorts from that Entry at 7821 with my Invalidation level at 7841 above ATH, is more effective today, compared to if I tried it yesterday. So, I'm also practicing best days for executions when an Asset is at an ATH.

It's totally fine.
Did you trade SP 500 or US30 today?

No I only took gold trade and currently on audcad buys

Then you will need more data, and correlation analysis to do, because I am also working on something that can be 3 times forward as gold, meaning of gold will sell I should see the weakness on the correlated pair first, that's is for me

Yeah, I'm sourcing for more data.
It's good you're working on something too. Best way to grow, is to keep learning and improving every day.

Yeah. I use it too.
But I'm practicing on Shorting Indices from ATH, which is different because there has never been historic data for reference compared to trading it on currencies.
It's beyond catching a simple pullback but more like timing and catching trend reversals by building a trading strategy that will enable me to keep trading Assets even when they are on All-Time High adventures.
today's shorts from that Entry at 7821 with my Invalidation level at 7841 above ATH, is more effective today, compared to if I tried it yesterday. So, I'm also practicing best days for executions when an Asset is at an ATH.

SP 500 Daily Update (Thurs, 8th Oct 2026)
Trend: Bullish
Bias: Bearish
Technical Outlook: Bullish Ascending Triangle
Intraday-Analysis: After setting a New ATH at 7850 on Tuesday, price retraced yesterday down to 7780 changing the intraday direction to a bearish narrative which signals price intentions to start a correction phase.
I'll be positioning for shorts fully once price break below 7780, and my Target will be 7700 which confluences with the trend Support for a price rebound. A break above 7824, will invalidate the bearish intentions seeing price journey into the sky for more ATH adventures.

On 4hr, SP 500 has formed an intraday bullish channel which can inspire price to continue its bullish rally today, breaking above the resistance level at 7820-7824 price level.
While price is still confined to this bullish channel, I'll halt my short intentions while watching if price will invalidate the channel or continue higher.
A good short opportunity will present itself if there's a downside break of the 7780 price level, flipping it from a support to resistance.
Entry: 7780
SL: 7803

SP 500 Daily Update (Thurs, 8th Oct 2026)
Trend: Bullish
Bias: Bearish
Technical Outlook: Bullish Ascending Triangle
Intraday-Analysis: After setting a New ATH at 7850 on Tuesday, price retraced yesterday down to 7780 changing the intraday direction to a bearish narrative which signals price intentions to start a correction phase.
I'll be positioning for shorts fully once price break below 7780, and my Target will be 7700 which confluences with the trend Support for a price rebound. A break above 7824, will invalidate the bearish intentions seeing price journey into the sky for more ATH adventures.

On 4hr, SP 500 has formed an intraday bullish channel which can inspire price to continue its bullish rally today, breaking above the resistance level at 7820-7824 price level.
While price is still confined to this bullish channel, I'll halt my short intentions while watching if price will invalidate the channel or continue higher.
A good short opportunity will present itself if there's a downside break of the 7780 price level, flipping it from a support to resistance.
Entry: 7780
SL: 7803

On 1hr, if price creates a double bottom at the 7780-support level which will confluence with the trend support, I'll position for Long opportunities.
Entry: 7780
SL: 7766.

The confluence at 7780 makes the long idea more meaningful. wait for the double bottom to confirm with bullish rejection; a clean break below 7780 would weaken the setup and put 7766 at risk.

market is choppy

SP 500- Daily Update (Mon, 12th October 2026)
Trend: Bullish
Bias: Neutral
Technical Outlook: Rising Wedge Chart Pattern (Wk)
Intraday-Analysis: On the Weekly, a rising wedge formation has formed, and this often signifies the bears are losing strength. There's also a potential double top formation looming at the weekly key level (7824).
I'll be positioned to go short on the LTF. if the current 4hr closes bearish below the low of the previous candle.
Entry: 7818
SL: 7840

SP 500- Daily Update (Mon, 12th October 2026)
Trend: Bullish
Bias: Neutral
Technical Outlook: Rising Wedge Chart Pattern (Wk)
Intraday-Analysis: On the Weekly, a rising wedge formation has formed, and this often signifies the bears are losing strength. There's also a potential double top formation looming at the weekly key level (7824).
I'll be positioned to go short on the LTF. if the current 4hr closes bearish below the low of the previous candle.
Entry: 7818
SL: 7840

The short idea makes sense around the 7,824 resistance, but confirmation is key. A bearish 4H close below the previous candle’s low would strengthen the setup, while a break above 7,840 invalidates the trade.