The S&P500 index (SPX) is trading at the top of the 17-month Channel Up with the 1W RSI overbought and at its highest (78.00) in more than 4 years (since January 2020). Once it breaks below its MA level (yellow trend-line), it will be a sell confirmation, which is the signal that flashed on February 20 2023 and July 31 2023. The minimum decline within this...
S&P500 / US500 is approaching the top of a Fibonacci Channel Up that goes back all the way to August 2022. The 1day MA50 has been in firm support since November 3rd 2023 but as the 1day RSI is squeezed inside a Triangle pattern, a break out is inevitable. This is technically more likely to be to the downside due to this overbought multi month momentum near the...
S&P500 is trading inside a narrow Channel Up pattern. As long as the price stays inside, we remain bullish on the index. The ralies inside it have been quite symmetric as well. The MA50 (1d) has been supporting this strong bullish trend since November 03 2023. Trading Plan: 1. Buy as long as the price remains inside the Channel Up. 2. Sell if it breaks below it...
Well As you can see, we can see the SMT here so we can expect a downtrend. The first condition is, that we see the price close the candle body below the bullish FVG, only then can we expect the price to go lower to collect the sell-side liquidity. After that, If the first condition occurs, we need the candle closure below the sell side liquidity, then the...
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...