Today, I will be analysing S&P500 coming from Monthly chart, down to 1H chart.
As you can see SP500 has been on a good track of going higher and higher since the 2008 crash.
What we can see is after the 2009 dip it has achieved ATH's day after day.
Right now, we are aiming at 2500 - in my opinion this is a highly likely scenario. Now, I don't...
S and P 500: Some seasonal facts to help you decide on likely S and P direction from here over the Summer:
S and P 500 Highs and Lows since 2011
28.4.11 5.8.11 and 28.9.11
27.4.12 31.5.12 and 9.11.12
21.5.13 20.6.13 and 27.8.13 and 9.10.13
no May peak 6.8.14 and 15.10.14
18.5 15 20.8.15 and 28.9.15
S and P is closed in London but the Dow is showing 30 points up whilst Dax is another 138 points higher at 12850. Nasdaq showing just 5 points up but no S and P trading. Nasdaq and Dow are still cheap..right here, right now. Why not make some money whilst you sleep tonight? Dow good for 21380, next chart - check IG index website for prices.
Price has come to rest on the sliding parallel here near 2350 again bouncing up. Look to see if we can continue to the upside from here. If we break below 2350, 2300 is the next area to consider as support.
I copied and pasted the exact same trendlines to form the 3 upward channels that the SPY has created since 2009.
I put all this effort and time into the day to day, week to week price action analysis, but it's really just this simple.
WAIT FOR THE BIG DIPS WITH HUGE VOLUME AND BUY THEM OVER AND OVER AND OVER!
As predicted by the downward fork, price dropped significantly on Brexit news. A drop from the high to the lower Median Line has pushed price into high volatility. Look for a drop again at the middle Median Line retest.
S&P 500 CME_MINI:ES1! has produced a buy signal after the false break down and subsequent reversal higher.
Daily chart shows inside bar false break (fakey pattern). Potential buying opportunity on pull back 1900-1915 support area, with initial upside targets to 1940-50 and 1960-80.
After Fridays candle close (Bullish engulfing off key support) and heavy rejection on weekly candle. We are set up for a retracement to Supply level highlighted before our next possible move down.
Target: 2000 level
SL: 1800 level
With the markets bouncing off its' lows and come roaring back to close the week with a gain, it has left many to wonder if this is 2008 or 2011 playing out. The argument for a continued bull market is that the market did hold the previous support of October's 2014 sell off, and put in a weekly reversal hammer. Also, the market was able to hold its' long term...