Swing Opportunities in S&P500: Quasimodo and Supply Levels

15 oct 2023

Currently, the S&P500 index is positioned between a lower Quasimodo level and a newly established upper supply level. Both of these present promising opportunities for potential swing positions. The lower demand level, which also conforms to a Quasimodo pattern, offers a favorable entry point for a buy position. However, this should only be considered if the price touches it before surpassing the upper supply level. Conversely, the upper supply level serves as an advantageous entry point for a sell position upon the initial contact with the price.