Four straight down days and S&P 500 closing at its Low yesterday does not bode well for the Bulls. If today closes at its Low again then we could get a pullback. Level to watch: 5290 --- 5292
The S&P500 is highly overbought on the 1W technical outlook (RSI = 77.490, MACD = 202.930, ADX = 73.429) and hasn't provided the slightest correction under the key 1D MA50 trendline since November 3rd 2023. In spite of that, the index can keep rising without providing such a correction, let alone enable us to time it. Its structure of this nonstop rise since...
The S&P500 index hit yesterday the top of the 19 month Channel Up. That was the first time since it started trading. This is a strong sell signal and considering that the MA50 (1d) has been intact since the November 3rd 2023 bullish break out, we expect to cross under it now. Trading Plan: 1. Sell on the current market price. Targets: 1. 4950 (-6.00%, 0.618 Fib...
The black arrow/path is my near-term forecast, I expect price to trade along this trajectory. As the title indicates, the market is near-term bullish but don't enter long or add until Feb 27th for the following reasons: 1) chart perspective : The structure is setting up for a sustained break of 5039 to make a final leg higher to complete a smaller degree wave 5...
Yesterday’s FOMC meeting ended as widely anticipated, with no change to monetary policy. During the press conference, the FED’s chairman reiterated the central bank’s commitment to bringing inflation under control and outlined a strong economy and tight labor market. Jerome Powell also described inflation as being on a downward trajectory and explained the need to...
In the infamous words of Mark Twain, we are analyzing today the S&P500 index (SPX) on the long-term 1W time-frame. This is a cyclical perspective obviously, attempting to find similarities between past and present price action, in anticipation of projecting the trend in the near future. As you can see, the index is replicating quite closely the 1W price action...
ES has reached it's measured move target from the 2022 low, but can there be more beyond this? ES is consolidating within a triangle getting ready for another move, just in time for FOMC.
SPX is ready to drop 4+% by April to close the gap 4910
This month market has been trading in a range. Any test of yesterday's High could provide direction for the day. Level to watch: 5245 --- 5243 Report to watch: EIA Petroleum Status Report 10:30 AM EST FOMC Announcement 2:00 PM EST Fed Chair Press Conference 2:30 PM EST
Three weeks prior, the market completed a bullish leg measured move. This pattern is significant as markets often exhibit a tendency to move in pairs, a phenomenon observable across all time frames. This behavior is rooted in the psychological aspects of market dynamics, wherein the market tends to repeat actions twice. This concept is underscored by market...
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 ). ...................................................................................................................... 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...