Hello traders!
‼️ This is my perspective on S&P500.
Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I look only for long position. My point of interest is if price continue the retracement and then rejects trendline + S/R zone + FIBO 0.618 level.
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how ES behaves at the 5118.75-5128.75 Initial Resistance (which we're also using as the Micro Bull/Bear Zone) will help set the bias/tone early in the session.
US stock indices continued their fightback yesterday. All the majors ended in positive territory with the strongest gains posted by the mid-cap Russell 2000, followed by the tech-heavy NASDAQ 100. Stock index futures rallied further overnight but have since pulled back from their highs. Tesla reported after last night’s close. The stock soared 15% despite missing...
Please, check our technical outlook for SPX.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 4966.93.
The above observations make me that the market will inevitably achieve 5113.40 level.
P.S
We determine oversold/overbought condition with RSI...
The S&P 500 Index has been edging lower for nearly a month, accompanied by a rise in volatility. From its all-time highs in late March 2024, the SPX has declined about 5.6%, which begs the question of a rebound. Interestingly, this week, several big names, including Alphabet, Meta Platforms, Microsoft, and Tesla, are reporting their earnings for the first quarter...
More the 1% gain brings bulls back party but they may not fully controlled until we close above 50 EMA 5150 levels
Hourly changed to up today but daily trend is still down.
Day price closed just above 20 EMA and touched 50 EMA today which is positive.
now 5040 may act good support and 5100 is good resistance.
Most earning are good side but Tesla as worse the...
The CBOE:SPX seems like it won't be held down!
Look at the pattern in the circles and then look for the potential path going forward.
I don't even want to draw anything else
Adding NASDAQ:OM here at a discounted price. I believe in #MANTRA team.
Buying every dip of NASDAQ:OM as it will outperform in upcoming days. So many developments are ongoing.
Something big is coming!!
everything in order, harmonic impulses, fibonacci levels in the norm with support in the 4816 area, which falls both in the 038.2/0.5 fibonacci area and in the POC. where last time he found support to restart.
minimum price target 5600 obtained with fibonacci reversal up to 6165 as maximum target, the shadow of the candles is a retracement of the last bullish...
Yesterday market had a positive day after closing six consecutive down sessions. If traders can keep above yesterday's Close, we could see a positive session as well today.
Level to watch: 5066 --- 5064
Reports to watch:
PMI Composite Flash
9:45 AM EST
New Home Sales
10:00 AM EST
Esteemed analysts and traders,
I hope this correspondence finds you in good health and high spirits, prepared to tackle the upcoming week with renewed energy. I extend my best wishes for your continued success in all your business endeavors. It is worth noting that success in trading is largely dependent on the consistent definition and adherence to one's own...
S&P500 is bearish on its 1D technical outlook (RSI = 37.601, MACD = -44.800, ADX = 58.528) as it touched the 1D MA100 on Friday after more than 5 months. This calls for a short term rebound at least as every previous corrective wave inside the multi month Channel Up that approached the 1D MA100, it rebounded to at least the 0.618 Fibonacci level. Following our...
In the weekly frame on the S&P500 index, there is a pattern called three black crows and it is a bearish pattern that will lead to a downward move in the upcoming weeks.
in July and August 2023, the same pattern happened and the market rebounded for two weeks then the downward move began to make the index retrace about 9%
As we can see on the chart the index...
I am expecting an initial rejection of this bull channel from Oct lows (also aligns with the EWT count for a marginal lower low) but once SPX convincingly closes above this channel - we are going to ATH's in my opinion. NTA.
SPX500
Indexes bouncing after the crash low.
But here is a pattern we have seen many times.
It is the very lucrative 3 wave corrective pattern where the third wave is the cause building Wyckoff "Creek."
Most of the examples we have looked at have been in bullish phases and so we have seen a bullish Creek. But here this is a bearish phase and so this is a...
