February 7 - Chart of the Day UPDATE for the S&P 500
The Bulls are BACK!
Market Volatility and the Shifting Trend: Key Levels & Insights Traders Need to Watch!
Here's yet another example of the valuable benefits ChartPros provides to traders—absolutely free!
Recent market movements have been heavily influenced by headline-driven volatility, creating both challenges and opportunities for traders. While these fluctuations can be extreme at times, a key shift in price structure suggests that a multi week downtrend has reversed.
Beginning in mid December the markets followed a pattern of lower highs and lower lows—a classic downtrend. However, that structure recently broke, with price testing and holding above a key trendline multiple times.
The gray ovals on the chart highlight these retests, and more importantly, we’ve now established a higher low. This is often the first step toward confirming a broader trend reversal.
Critical Levels & Expert Insights Every Trader and Investor Should Watch
The BIG question: Will the markets surge to new All Time Highs?
As traders, it’s crucial to remain flexible. We’re not here to be perma-bulls or perma-bears—we simply want movement.
And since the beginning of the year, we've certainly had plenty of that. Based on the current chart structure, our preference would be to trade from the long side, but that doesn’t mean short opportunities won’t present themselves.
The key is to remain objective and trade the price action in front of us.
So what's next?
Only time will tell for sure what price will do next...
We don't make predictions because the only guarantee in the markets is that price cycles. It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.
Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews
We have featured over 400+ Charts of the Day since May 2023 and teach Price Action Trading for FREE to traders who join our Highly Rated Trade Room.
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Armed with precision oriented charts like these both traders and investors can formulate their respective plans.
After watching the video let us know what you think. We'd like to hear from you in the comments sections.
Because You Were Interested in today's FREE Chart of the Day...
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