The S&P 500 has reco...from Mike Ser Trader

01 Mar 2022, 11:59 · Views 1,674

The S&P 500 has recovered off its lows from the Russia/Ukraine crisis from last week but it's still too early to say that the worse is over. The SPX found support around 4120 and cleared the 4300 price resistance area. However, the fact is we are still in a bear market and it is going to face strong price resistance levels at 4400 & 4600. US Employment report on Friday will tell investors how well the US economy is doing. #SPX500# #USeconomy# #S&P500# #UnemploymentRate#

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Mike Ser Trader

6 Posted · 88 Followers

An experienced trader since 1999 and trader coach since 2005. You can follow me on Youtube at Mike Ser Trader and my website at ActiveTradersAcademy.com

SPX500

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Based on today's strong US Market recovery, it looks like the worse is over and the charts tell me that we are primed to head higher. I'm watching the NDX closely and the key 14,300 level should break. Big tech is going to lead this market higher IMO with the names of AAPL, MSFT, GOOG going higher. #Nasdaq #ndx #nasdaq100

Mike Ser Trader

I like the setup of ETH/USD above $3,000. If it can break above $3,000 then we could see $3200 and $3400 very quickly. #ethereum# #ETH/USD# #EthereumSurge#

Mike Ser Trader

BTC/USD has found a short term price bottom at $36k usd and cleared above $40k usd. To confirm that the downtrend is over, it needs to clear $46k usd. So far, it looks very promising that the worse might be over for BTC and at some point, ATH of $68k usd should be within reach. #BTC/USD#

Mike Ser Trader

US oil prices have gone parabolic with prices not seen since 2011. With current prices at $114 per barrel, it is going to target $147 reached in 2008. The scary thing is we might reach that level very soon, due to major supply concerns as big oil companies are cutting ties with Russia and also, if you dig into the US oil companies, they have cut back on capex in the past few years. During the pandemic we had too much oil as prices dropped below 0 and then suddenly, we have too little. Crazy oil markets!

Mike Ser Trader