Month after month, the United States has been reporting strong labor market conditions and lots of new jobs being created. However, revisions to past data are often less talked about in the media, which might tell a somewhat different story than headline numbers at the time of their announcement. Friday’s report shows that nonfarm payrolls rose by 275,000 in...
Rising Wedge Created On 4HR Chart Bearish Reversal on the Horizon? The US500 has formed a rising wedge pattern on the 4-hour chart, signaling a potential bearish reversal. This pattern, characterized by converging trendlines with a steeper support line, suggests that upward momentum is waning. Key Observations: Upward Trend : The pattern has developed...
Yesterday, the SPX formed an opening gap and erased some of its recent gains, which was accompanied by nearly a 10% jump in the VIX. What is particularly interesting about this is the formation of the island reversal pattern on the daily chart. The formation of this topping pattern and simultaneous rise in the VIX after a period of strong gains in the U.S. equity...
Please, check our technical outlook for US500. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 5122.0. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 4997.2 level. P.S The...
Hello Birdies, Here is the market overview for today what we are seeing on BTC, DXY and SPX. Trade well and stay safe.
S&P500 is bullish on the 1D timeframe (RSI = 61.459, MACD = 50.390, ADX = 31.702) but the RSI has turned sideways for a long time which is the same pattern that led to the July 27th 2023 High. The index has had three major corrections inside the long term Channel Up, ranging from -8.16% to -10.64%. We expect the index to decline by at least -8.00% in the next 1...
While the market continues to rise and investors grow confident the rally won't stop, the VIX keeps subtly making higher highs and higher lows. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a...
MARKET PHASE BLACKBULL:SPX500 is in a weekly uptrend, fueled by a daily timeframe expansion taking place. AREA OF VALUE We can expect a volatility contraction where lows will form, and therefore allow sell side liquidity to be created (sell stops, shorts, stop losses) below this corrective structure. TRADE No trade. Waiting for a corrective...
After a quiet start to the week in markets, Friday’s US session saw risk come alive. A poor US ISM manufacturing at 47.8 – notable in the new orders and employment sub-components – was married with comments from Fed members Lorie Logan and Chris Waller, in turn promoting a strong rally in US Treasuries, with additional rate cuts being priced through 2024. The...
Sorry I haven't posted in awhile, here's a quick analysis on SPY. As mentioned from the last SPY analysis back in October 27, 2022 that we're still correcting in the market. Now here's an update after finishing that correction in the market. (#SPY) - Update, we're finally finishing this nice retest on SPY after breaking the downtrend. We can drop more to $395...
The S&P500 index (SPX) has been trading within a long-term Channel Up since the October 13 2022 market bottom and since last Friday, the price has been griding on its top (Higher Highs trend-line). The longer it fails to convincingly break and close a full week above it, the more likely it is to deliver a technical pull-back. On that technical setting, the 1D RSI...
Over the past four days, Bitcoin has surged by 20%, while the US500 index experienced a modest decline of 0.35%. This notable discrepancy in performance reflects significant market movements, influenced by recent events such as the approval of Bitcoin ETFs and the impending Halving. Let's delve into these factors and their impact: 📈 Market Sentiment: The...
Optimism surrounding earnings last week helped to push the market higher. As a result, the SPX established a new all-time high above $5,100, and the VIX faltered below $14. Subsequently, it did not take long for Wallstreet analysts to upgrade their price targets for various companies, including the one with the most hype around it, NVIDIA. Some of these forecasts...
Please, check our technical outlook for US500. Time Frame: 8h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 5072.7. The above observations make me that the market will inevitably achieve 5023.1 level. P.S We determine oversold/overbought condition with RSI...
On this analysis we view the S&P500 (SPX) from the longer term perspective of the 1M time-frame in order to answer the question of why it hasn't pulled-back since the October 2023 Low. The answer can be given by observing the index from a cyclical point of view. First, with the exception of the March 2020 COVID flash crash and more recently October 2022, the 1M...
The S&P500 index (SPX) is having another bullish week with the current green 1W candle being the strongest since the first week of the year. Nonetheless with the 1W RSI overbought at 75.00 and the price very close to the Higher Highs trend-line that started on the late November 2022 High, a short-term pull-back seems probable at the moment. The long-term price...
The Nvidia effect has ripped through global equity markets and given fresh wind to markets that were looking ominously poised for a 3-5% drawdown. New highs have been seen in EU Stoxx, GER40, JPN225, and the US large-cap equity bourses; the US30, US500 and NAS100. What levels do the bulls target now? Well either, you’re looking at fibo...
BUY/LONG ZONE (GREEN): $4531.84 - $4726.36 DO NOT TRADE/DNT ZONE (WHITE): $4380.94 - $4531.84 SELL/SHORT ZONE (RED): $4117.36 - $4380.94 Currently there is bullish momentum, as seen coming off the gap up from Monday close-Tuesday open, however; after this momentum upwards we have only seen price go sideways up to today. Price is resting inside a zone towards the...