This update will be quick, Im very lazy this weekend. ES short term was already posted earlier today. There are 2 pathways Im following: 1 - H&S pattern, visible on the chart. That pattern if triggered will make full 5 down into early next year low to finish the whole move down from Jan high. (Fits perfectly with VIX sky rocket from its below 20 level) 2 -...
As you can see there is a lot of confluence at 3970 level (This chart become quite busy with the trendlines) If we do gap down tomorrow below 3970, I will be looking to buy 3928-39SPX level for a broken trendline test, if not more. This chart is similar to the ES, but has a higher level of support, so they have a bit different short term look one from another to...
The S&P500 hit both targets we set two weeks ago as it reached the top of the 7 month Channel Up pattern: This is the first major sell signal that we get on the 1D time-frame since the previous Higher High on February 02 2023. Unless the price closes a 1D candle above the August 16 2022 High (4327), we expect a short-term pull-back towards the 1D MA50 (blue...
Memorial Day (originally known as Decoration Day) is a federal holiday in the United States for honoring and mourning the U.S. military personnel who have died while serving in the United States Armed Forces. For nowadays, it is observed on the last Monday of May, and this year it is observed on May 29, 2023. Memorial Day is considered a U.S. stock market...
Pair : SPX500 Index Description : EXP Fiat in Long Time Frame as an Corrective Pattern and Completed " ABC " Corrective Wave Divergence Break of structure Completed " 1234 " Impulsive Wave EXP Fiat STF CHOCH - SMC
Good day fellow traders, SPX food is a decent correction after the recent push. Currently breaking out of a bullish-looking falling wedge patter. still in a decent position looking at the possible targets. Good luck and have fun,
I think the market is consolidating for the next push up... but probably won't be consolidating here anymore, rather lower is coming... I'm fully expectant and prepared for LOWER LOWS to come... so if you want to follow idea on Long, do know it's early still... Tape Wise, market flipped bull mode on October 13th... price going lower is not "PER SE" a bear...
The S&P500 is on a medium-term correction following the February 02 rejection just below the 1W MA100 (red trend-line). The long-term pattern is a Cup formation and the price is approaching its buy Zone. Right now though it sits on the Higher Lows trend-line that has formed the medium-term Channel Up and is an ideal buy for the long-term, with limited downside....
Last week we have made clear our short/ medium-term view on the S&P500 (SPX), calling a buy on the exact bottom of the Channel Up: It is time to look again, as we normally do on a monthly basis, on the bigger picture, looking at the 2D time-frame. The Channel Up is clear and so is the Resistance on the 2D MA200 (orange trend-line) which formed the previous...
On our last week analysis for the S&P500 Index (SPX) we called for the start of the correction within this long-term Channel Up pattern: As you see the timing was spot on and the price broke below both the middle of the Channel Up and the 4H MA200 (orange trend-line). Along with the 4H MA50 (blue trend-line), the latter is close to forming a Death Cross on...
The price closed under the MA50 4H for the first time since January 9th. Similar Channel Up pattern in December led to a 0.786 Fibonacci correction. Trading Plan: 1. Sell on opening. Targets: 1. 3955 (above 0.786 Fibonacci) Tips: 1. A Double Bottom on the RSI 4H Buy Zone would be an excellent buy confirmation. Please like, follow and comment!!
The chart is self explanatory. We expect a buyable low in near future for another push-up into Mar high. The most dangerous time window for this year is May-July
Only a week and we are here! Its Friday, don't give your money back today! If green take it and enjoy your day! Have a good weekend
The S&P500 index (SPX) broke above the 1W MA50 (red trend-line) for the second time during the start of the Bear Cycle in January 2022 and the first after December 12 2022. For the past three days it is being rejected there, which makes it a strong Resistance, along with the 'Prior Lower High', which is the level we pointed out last week on our SPX report: As...
The index failed yet again to break and close above the bold white declining Resistance, which is effectively the Resistance that has marked all lower highs of the Bear Market. This is far from an ideal scenario for S&P500 buyers. The Support Zone right below already supported once last week and has been serving as either a Support or Resistance since May...
Strong rally on the S&P500 index today with 1H turning overbought (RSI = 81.761) but 1D on healthy bullish technicals (RSI = 61.426, MACD = 17.150, ADX = 26.544), indicating that this trend can be sustainable long-term. The only drawback is that the price hit today the major multi month Resistance level of the 1W MA50, which made the strong rejection of December...
SPX is within a rising wedge structure that has been getting weaker on each high. The 1hour RSI has a pivot line though above which the trend remains bullish but below turns bearish. So far it is above and it is evident as the price is holding the wedge's bottom and is rebounding. 4040 the upper target if it holds. 3942, which is the first support, if it breaks...
SPXUSD daily guidance is cautiously bullish. Recommended ratio: 80% SPX, 20% Cash. * GOLDEN CROSS WATCH . US December CPI came in 0.1% lower than in November (which saw a rise of 0.1% from October), whereas Core CPI came in 0.3% higher than in November (which saw a rise of 0.2% from October). The UofM Consumer Sentiment Index (Preliminary) for January is...