As the bearish setup we introduced last week was not triggered, we continue to watch the SPX on the sidelines and wait for a better trade opportunity to emerge. In the meantime, we want to highlight a persistent positive correlation between the U.S. and Chinese markets. It is amazing how, once again, the reversal in the Chinese stocks preceded the same price...
The S&P500 index / US500 broke and closed over the 1day MA50 on Friday, for the first time in almost 2 months.
Even though it is a major long term bullish development, we see a short term sell opportunity as the 1day RSI is reversing, signalling a loss of strength on the 5 day rally.
The long term pattern remains a Bearish Megaphone, so such minor technical...
The last week was incredible for the TVC:SPX with the index rallying for five consecutive trading days. The bulk of the rally came after the FOMC rate decision where the Fed left interest rates unchanged and Fed Chair Powell delivered less hawkish than expected remarks. The S&P 500 then extended the gains into the weekend after the NFP report missed forecasts...
Apple Inc. has managed to carve out a silver lining in its latest financial performance, with iPhone sales witnessing a 2.8% increase despite a general downturn in hardware sales. This growth stands in stark contrast to the significant declines in Mac and iPad sales, with Mac sales plummeting by nearly 34% over the year, highlighting the fierce competition and...
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 health. With ES futures,...
Here's your weekly update ! Brought to you each weekend with years of track-record history..
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
That's the best way to support me and help pushing this content to other users.
Kindly,
Phil
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 health. With ES futures,...
SPY appears to be barreling towards the completion of a rug-pull event that kicked off back in March of this year. The downside target for this event is $399.88.
Although we ultimately place SPY hitting $399 in the near future as a high probability, we do see yet another rug-pull event that has taken place at the $429 price target on a smaller...
11/6 Weekly Plan. ES Futures December ESZ2023.
Weekly Pivot is 4,358
Targets
4,423 9/20 gap bottom + 5 weeks balance high zone.
4,476 untested downside spike zone from 9/20, 9/21 was a gap down session
4521 weekly vPOC from 9/11
Targets
4,318 11/2 daily npoc
4,272 5 weeks balance zone HB ...
Posting another quick update here on the SPY as it closed last week sitting on its 50-day SMA, after the 50-day SMA crossed below the 100-day SMA, while simultaneously rejecting the .50 FIB level. The SPY is holding yet another bearish megaphone as buyers and sellers continue to fight, accompanied by some slight bearish divergence on the RSI. Just some key FIB...
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.
SPX is currently in a downtrend. On the SPX weekly chart, see the similarities between now and
March 2022. Then there was 6% move up followed by a huge drop.
My guess is that SPX will move up to resistance at 4400 then fall.
Not trading advice. Do your own research.
We reached the extreme boundary of the wave (4) area. The scenarios widely vary depending on whether this level holds or not. We need more data to provide a good forecast.
Fractal Propagation in Orange. These are the fun ones!! :)
Doge coin is the currency of pure emotion… we all just LOVE IT!!! Like a dog, filled with unconditional love! Watch BTC, ETH, and teh SPX collapse over the next few years, and be like a good dog…. Sit, Stay, Love, Meditate.
Go DOGe Go!
Spectacular comeback for us500, but now let's see what will happen next week.
It seems that it manages to close both the week and the day well and thus leaves room for another climb up to the area of 4398-4400.
Here we have an ultimate test for buyers, let's see if they want to leave and collect the profits or if they will still stay in the game.
Buyers must show...
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...
![ES1!: ES range for 06-Nov [RTH Update]](https://s3.tradingview.com/y/Yoe40yx7_mid.png "ES range for 06-Nov [RTH Update]")
![MESZ2023: ES/MES range for 06-Nov [European Session Update]](https://s3.tradingview.com/w/w24poQ9G_mid.png "ES/MES range for 06-Nov [European Session Update]")
