S&P500 (SPX) is already going even better than our bottom buy signal last week (May 02, see chart below), having topped the 4H Channel Up, considerably above the 4H MA200:
The index closed yesterday above the 1D MA50 (blue trend-line) for the first time since April 11. Last time it did this was on November 03 2023 and after 5 days of consolidation, it broke...
Trends are mostly in an upward movement stage, looking to remove the violation left of the 12hr / Daily lower high trend indicators.
Trends into today are;
Last Macro Trend Signal Spots (ES Contract)
30m - 5086 Uptrend (5/2/2024) Higher High
1Hr - 5117 Uptrend (5/1/2024) Higher High
2Hr - 5117 Uptrend (5/1/2024) Lower High
3Hr - 5157 Uptrend (5/3/2024) Higher...
Last weeks levels provided to be partly actionable and price has immediately responded (See attached post). Comfortable holding this 50% long position with stop/target untouched. Will be looking for opportunities to buy the other 50% and increase risk as I'm confident in the bullish sentiment after last weeks Feds statement. I hold an underlying belief that the...
The video explains it all a lot better, but basically, we are sitting with higher highs and lower lows on the trend timeframes that brought us here (30m-4hr), otherwise known as the Pac-Man symbol.
Trends into today are;
Last Macro Trend Signal Spots (ES Contract)
30m - 5083 Uptrend (4/25/2024) Higher High
1Hr - 5083 Uptrend (4/25/2024) Higher High
2Hr - 5131...
This is a short-term outlook on the S&P500 (SPX) following yesterday's Fed Rate Decision. The short-term pattern on the 4H time-frame is a Channel Up and is giving us some important developments.
Even though yesterday's attempt to stay above the 4H MA50 (blue trend-line) failed, the index managed to stay on the Channel Up bottom (Higher Lows trend-line) and is...
Last time we looked at SPY (April 11, see chart below), we got what we wanted, a break below the 1D MA50 (blue trend-line) that met our exact bearish expectation which was a -5.93% decline, absolutely symmetrical with August 18 2023:
As the subsequent rebound got rejected on the 1D MA50 (blue trend-line on the chart above), the question is the following: Is...
1.
Price swept a lot of low resistance
lows with this bearish impulse, and
created a new Swing Low. This is the
External move.
2.
Price retraced to the -FVG, a
premium PD Array. This is an
Internal Range Liquidity move.
Expecting price to wick up past
the PDH, but close inside the
-FVG, and potentially end the
retracement. Bearish PA should
follow.
Price is in...
Bearish, but expecting
a short term bullish move.
Price has reached the
4th standard deviation,
swept the LRLR, then
mitigated the +OB. The
expectation now is an
External -> Internal LQ
move.
Wait/watch for signs of
reversal from the current
poi.
I enjoy any feedback or questions in the comment section.
All opinions are welcome!
LIKE or BOOST this post, if you...
The S&P500 is approaching the 1D MA50 (red trend-line) to test it as a Resistance for the first time after the April 15 bearish break-out. It has already broken above the Bearish Megaphone, the 4H RSI has formed a Channel Up similar to the price action's and so far this sequence of events is fairly identical to the previous correction of August 2023.
That...
So again, I cashed out my trade just above 5000 as we fell last night following the Israel drone strike against Iran. Most of that dip appears to have resolved itself, at least for the moment, but those geopolitical issues will likely be crucial to the potential of a market fall in the coming days.
I go into it in the video, but major Earnings are next week, and...
Yesterday market had a positive day after closing six consecutive down sessions. If traders can keep above yesterday's Close, we could see a positive session as well today.
Level to watch: 5066 --- 5064
Reports to watch:
PMI Composite Flash
9:45 AM EST
New Home Sales
10:00 AM EST
The overnight range was the name of the game today. As mentioned earlier, we were looking for a potential break in either direction. After establishing the initial balance, we saw a test of the overnight session low (5019), which was successfully defended. Subsequently, buyers entered the market, leading to a push higher in $ES. This move broke the high of the...
S&P500 is bearish on its 1D technical outlook (RSI = 37.601, MACD = -44.800, ADX = 58.528) as it touched the 1D MA100 on Friday after more than 5 months. This calls for a short term rebound at least as every previous corrective wave inside the multi month Channel Up that approached the 1D MA100, it rebounded to at least the 0.618 Fibonacci level. Following our...
If daily gap holds then upside targets
*5021.5 then 5026.5-5037.
For downside targets
*4997-4991 and if that fails 4974
Daily Trend Tracker
*DXY - Bullish - *VIX - Bearish - *US10Y - Bearish
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