CAPITALCOM:US500 chart mapping/analysis.
Ripping bounce off lower range of descending parallel channel (white) into upper range of Golden Fib Ratio (66% Fib / ~4370).
TBC consolidation/retracement for further bullish momentum to re-test upper range of parallel channel, or bearish continuation of downward trend.
ES/MES range for 06-Nov
Capitalize on the around-the-clock liquidity of E-mini S&P 500 futures (ES), and take advantage of one of the most efficient and cost-effective ways to gain market exposure to the S&P 500 Index, a broad-based, capitalization-weighted index that tracks 500 of the largest companies of the US economy and a key indicator of the stock market’s...
The S&P 500 has risen significantly since yesterday and has broken through resistance at 4294. We must now assume that the low of wave in magenta was already established a few days ago, on October 27th. Going forward, we can expect a continuation of the rally that has now begun, which should also continue above the resistance at 4634 in the course of the magenta wave .
S&P500 hit our TP = 4,315 (see chart at the bottom) even earlier than we expected and finally turned bullish on its 1D technical outlook (RSI = 56.977, MACD = -34.150, ADX = 40.157). In the process, it broke above the 1D MA50 for the first time since September 15th.
The wider pattern is a Channel Down now. If the price gets rejected inside the pattern. e.g the R1...
S&P / ES are in an abnormal distribution right now; up 5% in a week even including priced in prior to Fed Interest rate, looks like a convenient short hunting continuation path at this point. Idea is, it should present a short set up pretty soon after the NFP and into next week, levels are stated in the chart, good luck.
Having been on hold since June the RBA should hike by 25bp to get the cash rate to 4.35%.
We see a 60% chance of a hike priced into interest rate futures, with the market having a high conviction that if they don’t hike next week then they will almost certainly in December. 21 of 24 economists (surveyed by Bloomberg) are calling for the hike.
The doves do have...
Hello,
The orange harmonic pattern which originated around July 27 is the likely dominant force right now, with a new peak below the last.
It would propagate as shown, however, we may se a 1 & 2 Elliot pull back, followed by the move shown with the arrow, to the next larger bearish resistance vector - turned - support vector…. The dotted line.
Good Luck, God...
Hey Indices Traders! 🙌
The stock market is on the edge, and it's time to strategize. 🤔
📉 NASDAQ: Sitting at a major resistance of 14,646. Today's opening is a game-changer. Will it rebound or plummet? 🎢
📊 S&P 500: We've been short and it's paying off. The U.S. market opening is the moment of truth. It's a coin flip right now. 🪙
🤷♂️ Why Not Bitcoin?: While...
What's on my Radar for ES.
Daily Gap above, with levels for upside and downside.
Using daily bias technique Shared previously, worked very well today.
Possibility of a good TGIF setup this week.
As always, keep an eye on DXY.
Have a great week!
Market is trying to rally this morning after selling off during ETH session.
We could have a range bound session today.
Level to watch 4213 --- 4211
Reports to watch:
US:ISM Manufacturing Index
10:00 AM ET
US: Construction Spending
10:00 AM ET
US:JOLTS
10:00 AM ET
US:EIA Petroleum Status Report
10:30 AM ET
US:FOMC Announcement
2:00 PM ET
US: Fed...
The S&P500 index had a green session yesterday as the price made a Lower Low at the bottom of the Channel Down and seems to be rebounding. Technically that is the bullish leg towards the new Lower High, with the previous being priced on the 1D MA50 (blue trend-line).
This Channel Down however, on a 1D RSI basis as well, resembles the August - October 2022...
The breathtaking rally in palladium appears to be coming to the end.
Rising supply and slowing demand are undermining the price of a metal used to neutralize car exhaust emissions.
Palladium, once the cheapest of the major precious metals, soared from under $500 an ounce in 2016 to over $3,400 last March, leaving platinum and gold far behind.
The reason for the...
The S&P500 index reached on Friday the bottom of the 3 month Channel Down and today's big (1d) green candles shows us that the Lower Low is most likely priced.
Technically this is the most ideal buy entry for a rise towards the top of the pattern.
Every top/ Lower High reached at least the 0.618 Fibonacci retracement level.
Trading Plan:
1. Buy on the current...
US30 Index dropped heavily on Friday.
The market successfully violated a major horizontal demand area.
The broken structure 32570 - 32970 turned into supply zone now.
I will expect a bearish movement from that at least to 31850 level.
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S&P500 (SPX) has been on a correction mode since the week of July 24, completing 13 straight weeks (91 days) of pulling-back without a 50% retracement. As you can see on the charts above, which are on the 1W time-frame, this is the strongest such correction since October 03 2011, which stretched for 21 weeks.
Even the recent Inflation Bear Cycle of 2022 had three...
NASDAQ Index broke and closed below a key daily horizontal support.
The broken structure 14200 - 14300 area turned into resistance.
I will anticipate a bearish continuation from that.
Goals: 13950 / 13680
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Price even can not hold the Sliding-Parallel of the Center-Line. This tells me, that if it can't jump back above the CL next week, the next target is 4000.
Happy Christmas §8-)
