S&P 500 index heading another low | Crypto will followAccording to Fibo and Volumes seems we sortly heading 4800-4900 range. Which is very avearage and normal correction around 9-10%. Lets see if we go more deep, but I expecting a bounce back and new ATH. Crypto will follow same sentiment.Shortby comrender_investments0
Trading Plan for Wednesday, April 17th, 2024Trading Plan for Wednesday, April 17th, 2024 Market Sentiment: Uncertain, as investors digest comments from Federal Reserve Chair Jerome Powell and assess their implications on the timing of potential rate cuts. Key Supports Immediate Supports: 5091, 5082 (major), 5076, 5068 (major) Major Supports: 5046-51 (major), 5038 (major), 4996-5000 (major) Key Resistances Near-term Resistance: 5097 (major), 5108 (major), 5115, 5126-29 (major), 5155 (major) Major Resistances: 5171 (major), 5188-90 (major), 5225-30 (major), 5280-83 (major) Trading Strategy Monitoring Fed Commentary: Stay updated on further statements from Federal Reserve officials as they will influence market direction. Range-Bound Trading: The 5082-5115 zone remains a choppy range. Focus on failed breakdowns within this zone, or holding position runners. Long Opportunities: Look for bids at 5091 (after multiple successful tests), reclaims of 5082, or failed breakdowns at 5076. Knife-catch protocol applies for any deeper longs, particularly at 5046-51. Short Opportunities: Consider shorts if backtesting breakdown zones like 5126-29, 5155, or 5171. Prioritize a failure of 5082 on the short side. Profit-Taking: On shorts, consider taking profits entirely at major levels, especially given ES's tendency to short squeeze. Bull Case Reclaims are Key: Bulls need to reclaim breakdown zones, starting with 5126-29, then 5171 to signal a potential short-term bottom. Holding Support: A sustained hold of 5082 could lead to a bounce and backtests of the resistances listed above. Adding on Strength: Breaks above 5108 after acceptance suggest potential for more upside. Bear Case Breakdown Signals: Bears maintain short-term control until bulls can reclaim key levels discussed above. A failure of 5082 is a warning, with shorts below 5068 targeting 5046-51 (where runners would likely be exited). As always, be wary of traps – look for a bounce/failed breakdown first. News: Top Stories for April 17th, 2024 Federal Reserve Focus Jerome Powell's comments emphasize that inflation remains above the Fed's target, hinting at a delay in interest rate cuts. Investor expectations for rate cuts have been adjusted, with a maximum of three cuts now anticipated, starting in June at the earliest. Market Performance & Sectors S&P 500 hits new all-time highs but experiences volatility following Federal Reserve commentary. Technology stocks, especially those in the AI sector, continue to outperform. Communication services and energy sectors receive a high percentage of analyst buy ratings. Earnings & Corporate News Big banks kick off the earnings season, providing insights into the financial sector's health. United Airlines faces aircraft delivery delays and adjusts its strategy. International Economic & Monetary Policies President Biden's proposed tariffs on Chinese steel aim to protect domestic industry. ECB plans for near-term rate cuts raise questions about the European economic outlook. Additional Market Updates Cryptocurrency market dynamics, including Bitcoin halving cycles. Geopolitical tensions between Israel and Iran and their potential economic implications. Chinese economic growth. Housing market trends and government tax policies in Canada. Reminder: The market is reacting to Federal Reserve commentary. Prioritize risk management and adapt your trading strategy accordingly.Longby spytradingpro1
Will the channel hold?I don't trade the ES but this channel has been holding since the beginning of the year. Right now could be a good time to enter a position.Longby yann2zenUpdated 0
Head and shoulders on ESForgive me for using MES, but it’s easier because I don’t have to clear any existing markup. I’ve been watching this H&S pattern form for a while now and looks very clean on the 8 hour chart here. The measured move for the breakdown takes us to 5000. I expect that we retest the neckline and clean up the imbalances (FVGs) in the process before we ultimately get rejected and move towards 5,000 over the next couple of weeks. It just so happens that the .618 fib lines up exactly with the neck line if you pull the fib from the last swing high to the current swing low on the 8 hour. Weekly momentum also suggests we go lower and overall economic indicators seem to suggest a bigger correction is coming. This very well could be the start of a bigger correction, but my immediate targets will be a retest of the neckline and a measured move down to 5000.Shortby Uplift32221
Transition structureThe price action that we saw in the S&P 500 on Tuesday has the potential for a change in market direction. The key on Wednesday would be for the market to trade above Tuesday's high and give a stronger close above that high. 03:08by DanGramza2
Market Recap: Zooming Out To Get More ContextWhen the day started there wasn't much to see in terms of price action. I needed to zoom out to get some perspective on the market and the hourly timeframe provided just that. We had some climatic activity to the downside where the market could reverse. Early in the morning, it did exactly that but then the news hit, and the day got crazy. Education04:07by JoeRodTrades1
S&P500(US500):🔴Is it Bearish...?!🔴(Details on caption)By examining the ES1! 4-hour chart (S&P), we can figure out that, the market structure is bearish, so we looking for a sell position. In that case, the price had a bearish reaction to all of the bearish Pd Array, so we can expect a bearish reaction on the balance price range (BPR). In my perspective, sell-side liquidity is a draw on liquidity. Until this sell-side is not purging I don't think about buy position. 💡Wait for the update! 🗓️15/04/2024 🔎 DYOR 💌It is my honor to share your comments with me💌Shortby VahidTradingCRUpdated 115
OverNight Price Action rEview ES 4-16-24Going over the price aCtion ES overnight and from the last couple weeks. looking for clues and trying to listen to what the market is telling us. We ARe risk managers first. 01:47by BobbyS8130
Trading Plan for Tuesday, April 16th, 2024Trading Plan for Tuesday, April 16th, 2024 Market Sentiment: Uncertain, with geopolitical headlines and market volatility remaining dominant factors. Key Supports Immediate Supports: 5102-05 (major), 5092 (major), 5079 Major Supports: 5067 (major), 5050-52 (major), 5039 (major), 5000 (major) Key Resistances Near-term Resistance: 5115, 5126 (major), 5136-39 (major), 5163-67 (major). Major Resistances: 5178-80 (major), 5195, 5205-07 (major), 5222 (major) Trading Strategy Geopolitical Risk: Continue to monitor headlines related to the Iran/Israel situation for potential market impacts. Adaptability: Be prepared for rapid changes in market direction and prioritize risk management. Long Opportunities: Focus on potential longs above 5102-05 after failed breakdowns at 5092. Consider a test and reclaim of 5115 for an entry if the move is direct. Knife-catch protocol applies for longs at 5048-52 if those are reached. Short Opportunities: Look for backtests of breakdown levels. 5136-39 and 5163-67 are key areas for potential shorts. Profit-Taking: On shorts, consider taking profits entirely at major levels, especially given ES's tendency to short squeeze. Bull Case Reclaims are Key: Bulls need to reclaim breakdown zones, starting with 5136, then 5163-67 to set a potential bottom. Bear Case Breakdown Signals: Bears maintain control until bulls can reclaim key levels discussed above. A failure of 5092 triggers the next downside leg. As always, be wary of traps – look for a bounce/failed breakdown first, then consider shorting at 5088, targeting 5052 for complete profit-taking, or level-to-level profit-takes on the way. News: Top Stories for April 16th, 2024 Geopolitical Crisis: The escalating tensions between Iran and Israel continue to dominate headlines and drive market uncertainty. Economic Outlook IMF World Economic Outlook: Projections for slower global growth with inflation expected to decrease. US Labor Market: Focus on the impact of an aging workforce and the potential counter to early retirement trends. Inflation & Fed Rates CPI report signals persistent inflation, raising concerns about delayed Fed rate cuts. Treasury yields react to inflation data. Corporate & Market News Tesla faces skepticism about self-driving capabilities and a new round of layoffs. Market performance analysis: Tech stocks lead gains, bond market reacts to rate concerns. Real estate market sends mixed signals across different geographies. Investment Outlooks Financial institutions provide a range of outlook reports with varying predictions. Cryptocurrency: Ether and Bitcoin ETFs perform well, prominent investors weigh in. Reminder: The geopolitical situation remains a major wildcard. Be cautious, prioritize risk management, and be prepared to adjust your trading strategy quickly.Shortby spytradingpro3
ES Before Bedtime UpdateAll 3 indicators are oversold, but quite frankly I'm not very bullish. I'd rather short the pumps at this point. Probably not trading tomorrow. My best guess is that Israel will attack on April 26th, because it's my birthday, lol.by hungry_hippo6
SPX Short on Possible Lower High Pattern.We've been making lower highs for a while. If this pattern is to hold we'd have optimal shorting entries here. We are rallying strong into the 76 retracement, triggering a possible 76 reversal: Shortby holeyprofitUpdated 5
SP500 Forecast: Navigating Bearish Trends Towards New All-Time HThe S&P 500 is bearish and heading towards the price zone of 4499.50 and 4430.50 before rising to create a new all-time high." Cela semble indiquer que vous prévoyez une baisse temporaire du S&P 500 vers les niveaux de prix mentionnés, avant qu'il ne reprenne sa tendance haussière et crée de nouveaux sommets historiques. User traduit moi ça en anglais ChatGPT "The S&P 500 is bearish and heading towards the price zone of 4499.50 and 4430.50 before rising to create a new all-time high.Shortby RabyaAQELUpdated 112
Possible Low Area: Good ops to short rip We might be in bearish Elliot waves here on ES / SPX. If we are, there's a good chance we are at a low point now and due to enter into an ABC correction. A two leg spike with a bear trap (But no new low) in the middle. Sets up a possible high RR short on the C point. Most of the previous short forecast has hit now. by holeyprofitUpdated 3
ES1! evening updateAlthough 15 April was a bearish day, and the daily price action continues to give us lower lows, I think the possibility of a leading diagonal is now less likely. 5213.25 is now key resistance, and I anticipate that resistance to hold and at least one more daily lower low before a bottom is found.by discobiscuit0
Inside type dayAfter the drop in the S&P 500 on Monday, and inside day would be expected unless we get surprise fundamentals for continued weakness in this market on Tuesday.03:12by DanGramza2
$ES $SPY $SPX 4 hrly chart; channel to upside broken; then channel to downside broken down too. by William_Blake0
ES UpdateES hit the bottom trendline, but like I said last week, I'm not going long until both RSI and MFI hit oversold. Quit frankly I'm scared to hold any long position overnight, so probably just gonna day trade tomorrow if it does go oversold. I didn't post this morning because I wasn't quite sure what the market was gonna do, MFI hit oversold premarket, but the market sold off the gap right away. Looks to me like I'm not the only one waiting for RSI to go oversold. I'm under the assumption that the daily indicators will hit oversold, so there will be a better play in a week or two anyways.by hungry_hippo4
S&P Bearish after Retail Sales.. Israel/Iran conflict abroad? 🤨The S&P futures is quite weak after strong USD retail sales data. This move opposes a rational reaction to data that came out better than forecasted by a good margin. The market is pulling back and continuing the bearish momentum from the previous week. This may have to do with the conflict between Israel and Iran, this retracement back down. Oil is pushing up and Gold is pushing up late in the NY session here on Monday April 15th.. Money is being shifted to those Risk-On assets rather than stock indices such as S&PShortby ShrewdCatfx1
Morning Price Action Review 4-15-24Going over the price action ES overnight looking for clues to what the market wants to do. trying to listen more to the market and think less. no trade setup no trade.01:22by BobbyS8130
ES1! afternoon updateBull count in green has wave 4 complete with a double-three, bulls need to hold 5150 and break above 5243.50. Bear count has leading diagonal 1 in progress, needs 51550 support to break and 5243.50 resistance to hold.by discobiscuit0
Trading Plan for Monday, April 15th, 2024Trading Plan for Monday, April 15th, 2024 Market Sentiment: Highly uncertain due to major geopolitical headline risk over the weekend. Expect significant volatility and potential for large gaps up or down at the Sunday open. Important Note: The escalating tension between Iran and Israel has the potential to cause significant market disruptions. BE PREPARED for a wide range of outcomes, substantial gaps on the open, and rapidly changing market conditions. Key Supports Immediate Supports: 5163 (major), 5155, 5142, 5134-36 (major), 5126 (major) Major Supports: 5120, 5115, 5108, 5102-5097 (major), 5091, 5082 (major) Key Resistances Near-term Resistance: 5177 (major), 5185, 5192-95 (major), 5203 (major) Major Resistances: 5218 (major), 5228-30 (major), 5245 (major), 5262 Trading Strategy Weekend Headlines: Be prepared for anything related to the Iran/Israel situation. This news will dominate market reaction. Adaptability is Key: Market conditions could change rapidly, prioritize flexibility and risk management. Sunday Open: Focus on how the market opens and reacts to the news. Large gaps are possible in either direction. Long Opportunities: Due to the high risk, only consider longs after the initial reaction and if a stable support zone forms. Potential bids at 5163, reclaiming 5155, or (depending on the open) reclaiming 5177. Emphasis on failed breakdowns. Short Opportunities: Look for backtests of any breakdown levels if a strong sell-off occurs. Potentially 5177, 5219, or 5228 if those levels are reached. Knife-Catch Mode: If necessary, use the knife-catch protocol for longs, with small size and emphasis on failed-breakdowns. Bull Case De-escalation: A move towards de-escalation or resolution of the Iran situation could lead to a sharp rebound. Reclaiming 5177: If 5177 is reclaimed with acceptance above, bulls may drive a recovery towards targets of 5195, 5202, 5219. Bear Case Escalation of Conflict: Continued escalation of tensions could lead to a significant market sell-off. Breakdown of 5163: A failure of 5163 opens up downside targets. Watch for a bounce/failed breakdown, then consider shorting for a move down the levels. News: Top Stories for April 15th, 2024 Geopolitical Crisis: Escalating tensions between Iran and Israel dominate headlines and overshadow all other news. Potential repercussions for the global economy, oil prices, and markets. Impact on Market Outlook: Uncertainty and volatility dominate the April outlook. Key economic dates and reports may be less impactful given the news focus. Earnings Reports: Earnings season continues, but market focus may be diverted by the geopolitical situation. Other Market and Economic News: Monitor secondary news sources for updates on the Iran/Israel situation and potential market impacts. Reminder: The weekend geopolitical developments introduce extreme uncertainty into the markets. Be cautious, prioritize risk management, and be prepared to quickly adapt your trading strategy.Shortby spytradingpro0
ES OVN Price ACtion Review 4-15-24Going over the price ACtion ES from Sunday Night. looking for clues as to what the market is telling us and if there are any A+ Trade Setups. no setup no trade Monday.02:33by BobbyS8131