📊 Market Sentiment: Neutral Market sentiment for CME_MINI:ESH2024 is influenced by various factors, including geopolitical tensions, upcoming major elections, economic growth forecasts, market performance predictions, inflation and job market concerns, and oil price movements. 🌍 Global Financial and Economic News: Geopolitical Tensions and Elections: Ongoing...
Yesterday, the market became slightly spooked by the release of higher-than-expected inflation numbers in the United States. The immediate reaction of the SPX to the news was negative, with the index erasing its early gains; the same price action could be observed in the Nasdaq 100 and Dow Jones Industrial Average. Nevertheless, market indices recovered much of...
The S&P is currently pushing back towards a new all-time high in small steps. In the yellow sub-structure of the superordinate wave (i) in turquoise, we see the index continuing to rise. If the top could then be formed in this movement, we expect a wave (ii) correction. On the other hand, a different count would prevail if the price slips below the support at 4548...
This morning market is trading lower. Any test of ETH session High could provide direction for the day. Level to watch: 4838 --- 4836 Report to watch: US:EIA Natural Gas Report 10:30 AM ET
Hi Traders! On the intraday chart the trend is bearish but at the same time, we cannot exclude the continuation of this rally on the intraday chart and resistance breakout will confirm this Pattern. That said, if we look at the 1H chart, it is possible for a harmonic structure to develop that should push the price around Target 1. Trade with care. Like | Share | Comment
The S&P500 index (SPX) is unfolding today the 3rd green 1D candle in a row, having gained back the vast majority of losses sustained last week. The December 28 rejection took place just below the 4820 All Time High (ATH) and as the 1D MACD is printing a sequence similar to the July 27 2023 peak, we expect the price to make a bearish reversal before the week is...
In this idea, I show points of interest for ES futures and SPY based on volume. This week (12/31/2023 - 1/5/2024), the markets started to pullback from 2023 highs. Note : This is not a trade idea. For educational purposes only. This is not financial advice. Points of interest: ESZ2023 price at expiration = 4694.25 Recent swing low Volume Profile Point of...
S&P500 has turned neutral on the 1D technica outlook (RSI = 47.788, MACD = 28.200, ADX = 43.854) as it made a LL for the first time since the October 27th 2023 bottom, marking the end of that two month rally. That was the latest bullish wave of the 15 month Channel Up. According to the three prior peaks that formed HH on the Channel Up, the index should kickstart...
We're now getting a confirming signal that last week's top was at least a local top. Primary analysis (in Blue) however, because we did not make a new high in the SPX like the DJIA and NDX, the black (B) wave count is a valid EWT count. I do not favor the black pathway mainly due to our MACD signal, the other major indices hitting new highs, and lastly the price...
Four down days in a row, something we have not seen in a while. Two years ago today when S&P 500 made ATH. Level to watch: 4751 --- 4753 Report to watch: US:EIA Natural Gas Report 10:30 AM ET
S&P500 crossed and closed a (4h) candle today under the MA50 (4h) for the first time since December 7th. Even though that was a buy opportunity then, this time we expect strong selling as the two month Channel Up is on a very strong RSI (4h) Bearish Divergence. Trading Plan: 1. Sell once the price crosses under the Channel Up. Targets: 1. 4560 (MA50 1d and...
The S&P500 index (SPX) almost hit the 4820 All Time High (ATH) level on the last trading session of 2023. That day completed the 9th straight green weekly (1W) candle, a feat last seen on the week of February 19 2019. This doesn't necessarily indicate that any sort of correction is due as a bullish market can run rallies fueled on fundamental news for even longer...
There is no doubt the rally off the October 2023 low has very little distinguishable structure to it. However the MACD indicator has made a new high so we DO NOT have negative divergence telling me, we will get a downward retracement, but this recent rally is not done to the upside. For this advance to top in a more sustainable fashion, we would be rallying on...
The SPX consolidation around the orange downtrend line is confusing every chartist out there for good reason. Why-because it is giving off conflicting signals and history really isn't much of a guide. Typically when you draw a monthly downtrend line using 3-6 months of a trend line and then you have an monthly open or close ABOVE the downtrend line (orange line...
S&P 500: SPX index could have a pullback as double-top forms. ..................................................................................................................... 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...
BTC has shown bullish willingness. I anticipate the new year to visit the lows around 25K, and the quarterly FVG, I will be there to accumulate some. Market might decide not to even go there and just fill the inefficiency at 32K and decide to moon from there. I'd worry about BTC if we close below 19K and stay there for over a couple of days. I'm not a Crypto bull...
The S&P500 index (SPX) is currently on its 9th straight green week (1W candle) following the October 23 (weekly terms) bottom. That was a Higher Low on the 15-month Channel Up and based on that pattern, the index is approaching its top (Higher Highs trend-line). What adds more weight to the very high levels it is trading at, is that the All Time High is just...
S&P500 / US500 has almost completed a +17.30% rise, which is the prince range it grew by on the December 1st 2022 High. That was the first High of the long term Channel Up pattern that started on the October 13th 2022 bottom. The Channel Up still has a little more room to go upwards before reaching its top but since the price is already over the 0.786 Fibonacci...