Hello ~ Traders!
It's Brandon of allaboutforex.net.
As of July 17, 2018, spx500 is showing a decline due to the drop in crude oil. At the present time, overall trend is upward trend. However, recent sharp declines in oil have caused a downturn due to the accompanying downturn in the Dow Jones Industrial Average. The current price is in a downward trend. So it is...
SPX500 has formed a huge ascending triangle on the daily chart. I am looking for a daily close above the triangle near the level of 2800 before I go long. More agressive entries could be already active but I d like to confirm the breakout first.
Entry (approx) 2796
Stop loss 2763
Target 2840
Risk/reward 1.28
The SP:SPX / FOREXCOM:SPXUSD futures seem to make a rising wedge pattern. After this, it may make a C&H pattern to complete a bottoming pattern for the coming days.
Channel Down has broken through the resistance line possible bullish price movement forecast for the next 13 hours towards 2595.5234.
Supported by upward ema cross
wait until price breaks new resistance to enter long
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
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Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
Have a great day everyone!
If S&P500 index, reaches new highs around where the Astrix is and takes out previous 2850, then UPTrend line B takes precedence over UPtrend line A.
As seen by the prior long UPtrend line 2009-2015, Uptrend lines can remain in place for a very long time once established.
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
Have a great day everyone!
I posted a video this morning with my thoughts on the big picture expectations for S&P 500, from a macro level and a fundamental bottom-up appraisal of the economy it looks like we should move higher. Overlaying those views onto a chart suggests to me that we should begin our journey up to $3050 right away!
Quantitative Tightening has been a negative deterrent for the S&P 500, however, given the relationship between Federal Tax Receipts and the Y/Y change in SPX we might see a less hawkish Fed in the coming months. This will create easier conditions to allow the SPX finish its 5th wave higher.
From ISM, to wage inflation - CPI the cycle still has a couple more...
the RSI calls for a new upleg. Prices broke above a symmetrical triangle pattern on strong upside momentum. The RSI broke above the 59 level indicating a resumption of the up trend. The bullish hammer reversal candlestick low at 2595 on May 3rd acts as support. look for 2745 and 2795 (March high) as targets on the upside.
The S&P 500 index has broken out of the symmetrical triangle to the top. With this movement it crossed also the resistance at 2692 and re-entered the ascending trend channel.
This very bullish trend is confirmed by RSI (crossing up the falling trend) and MACD (trigger crossed signal to top) - and MACD in bullish zone.
First aim could be 2790 (turning points...
My previous post for the SPX (S&P 500) can be found here:
A possible Elliott wave contracting triangle was discussed in the post to capture price action from January 29, 2018 to April 25 when the analysis was initially provided.
SPX (S&P 500) currently is sitting just above B-D trendline for the contracting triangle. The relative strength index (RSI) is also...
