The S&P500 (SPX) broke on Friday below the 4H MA50 (blue trend-line), which isn't yet a bearish confirmation as it has done so numerous time within December's Channel Up pattern. What would be a sell signal though, is getting rejected and fail to close a 4H candle above the 4H MA50 again. We will then look for the 4H MA200 (orange trend-line) and target Support 1...
The S&P 500 Index ( SPY) Wednesday closed down -0.22%, the Dow Jones Industrials Index
DIA closed up +0.10%, and the Nasdaq 100 Index (QQQ) closed down -0.83%.
Stocks Wednesday saw downward pressure from the +4.1 bp rise in the 10-year T-note and a sell-off of more than -2% in key chip stocks.
However, the Dow Jones Industrials saw support from blue chips...
The S&P500 index (SPX) is trading at the top of the 17-month Channel Up with the 1W RSI overbought and at its highest (78.00) in more than 4 years (since January 2020). Once it breaks below its MA level (yellow trend-line), it will be a sell confirmation, which is the signal that flashed on February 20 2023 and July 31 2023.
The minimum decline within this...
S&P500 / US500 is approaching the top of a Fibonacci Channel Up that goes back all the way to August 2022.
The 1day MA50 has been in firm support since November 3rd 2023 but as the 1day RSI is squeezed inside a Triangle pattern, a break out is inevitable.
This is technically more likely to be to the downside due to this overbought multi month momentum near the...
After the S&P was able to close the price gap of the previous trading week, bullish pressure pushed the index up again. We have drawn a clear demarcation between our two scenarios with the resistance at 5254 points. Primarily, we categorize the magenta wave (1) as finished. The current wave (2) correction should come to an end in our magenta Target Zone...
S&P500 is trading inside a narrow Channel Up pattern.
As long as the price stays inside, we remain bullish on the index.
The ralies inside it have been quite symmetric as well.
The MA50 (1d) has been supporting this strong bullish trend since November 03 2023.
Trading Plan:
1. Buy as long as the price remains inside the Channel Up.
2. Sell if it breaks below it...
Well As you can see, we can see the SMT here so we can expect a downtrend.
The first condition is, that we see the price close the candle body below the bullish FVG, only then can we expect the price to go lower to collect the sell-side liquidity.
After that, If the first condition occurs, we need the candle closure below the sell side liquidity, then the...
Watch This Resistance Level on the S&P 500 ( ES Futures ).
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We are not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature.
and are therefore are unqualified to give...
Market has been trading in a range for last several days with increased volatility. Could today be any different, probably not.
Any test of yesterday's High could provide direction for the day.
Level to watch: 5132 --- 5134
Reports to watch:
US: Jerome Powell Speaks
10:00 AM ET
US:EIA Natural Gas Report
10:30 AM ET
Consumer tech manufacturer Apple (AAPL) is due to report earnings next Thursday, February 1. Notably, waning iPhone demand out of China has worried investors as Apple had a rocky 2024 start, dealing with several stock downgrades.
Some of analysts slowed down its expectations for Apple and the biggest tailwinds and risks for its various devices.
"As far as those...
S&P500 is bullish on the 1D timeframe (RSI = 61.459, MACD = 50.390, ADX = 31.702) but the RSI has turned sideways for a long time which is the same pattern that led to the July 27th 2023 High. The index has had three major corrections inside the long term Channel Up, ranging from -8.16% to -10.64%. We expect the index to decline by at least -8.00% in the next 1...
This is a completely full and completed schematic of CME's E-mini S&P 500 Contract. This contract started in 1997 so there are decades of data not accounted for on the real chart. However, these are just as viable and important as the Standard & Poors 500 Indice. Let us take a look at the separate (chronological) boxes and understand what they are...
#1 is...
How long do we stay below 5400 - SP500? is the real question. Are we going to see a sideways range through the fall? Do we get a rip roaring 10-15% correction and "L" or even better "V" recovery? The path does not matter as much but here is my commentary anyway.
I think that we see a temporary high in early April as we power through the rest of Q1 earnings...
Price had a strong daily close today.
Price disrespected the bearish orderblock by closing above it.
I want to see discount H4/H1 levels respected to then look for M15/M5 bullish displacement to trigger long.
Target PDH and PWH.
The S&P500 index (SPX) has been trading within a long-term Channel Up since the October 13 2022 market bottom and since last Friday, the price has been griding on its top (Higher Highs trend-line). The longer it fails to convincingly break and close a full week above it, the more likely it is to deliver a technical pull-back.
On that technical setting, the 1D RSI...
Lets look at CAPITALCOM:DXY
Currently with a Bullish structure and slow build up Long.
Seems it is attempting to reach that Monthly Area low.
Bullish Dollar=Bearish Equities....Right?
Well this has not been the case these particular past couple of weeks.
We have not seen with clarity the inverse correlation between DXY and Equities. In fact everything has...
Volatility has increased recently and could continue for a while.
Any test of yesterday's Low could provide direction for the day.
Level to watch: 5073 ----5071
Report to watch:
10:30 EIA Petroleum Inventories
On this analysis we view the S&P500 (SPX) from the longer term perspective of the 1M time-frame in order to answer the question of why it hasn't pulled-back since the October 2023 Low. The answer can be given by observing the index from a cyclical point of view.
First, with the exception of the March 2020 COVID flash crash and more recently October 2022, the 1M...
