S&P 500 Daily Chart Analysis For Week of June 21, 2024Technical Analysis and Outlook: The index completed our Inner Index Rally 5480 and is in the process of squeezing the price action to the primary target, Mean Sup 5420. Renewed upside movement is expected from Mean Sup 54200. by TradeSelecter4
SPX500 BIAS- I'm still looking for buying opportunities unless we close below a 4hr swing low. - Looking for a MSS on a 15mins to 1hr. - Always check the type of fundamentals we have for the week and on which day of the week. - Also look for SMT divergence which is Nas100 Longby cloudy_Blank_3
SPX, evening updateThe price action from October 2022 low to October 2023 low can be interpreted alot of different ways, so let's ignore that data for a second. From October 2023 low of 4103.78, price action has been much more clearly impulsive (at least until April 2024 low of 4953.56). If this is to be interpreted as a five wave impulsive, from start to finish, then (1) is longer and (3), so (3) should be longer than (5). If this is correct, then SPX should go no higher than 5536.30 before a correction towards 5000.by discobiscuit3
S&P 500 Cup and Handle formed and ready to run up to 5,704S&P 500 has formed a Cup and Handle, broken above the handle and has created a breakway gap. This is showing the beast is ready to run up and rally to new All time highs. It's ideal for the price to turn, test and confirm which will help get us into a better position for a trade. My first target is at 5,704. Longby Timonrosso3
SPX500USD ( STILL BULLISH TREND )SPX500USD HELLO TRADERS Tendency the price is a long pressure in 5,482 FVG : The price FVG between level 5,482 and 5,460 , so as long as the price above 5,482 there will be a new historical peaks , breaking 5,482 it will reach 5,460 ORDER BLOCK : the price in order block between 5,437 and 5,423 , so it will breaking 5,423 the price attempt to decline RESISTANCE LEVEL: until price trade above FVG at 5,482 , the price will rise to 5,511 and 5,529 SUPPORT LEVEL : the price breaking 5,482, it will reach the support level of 5,460 then stable this level reach to 5,437and 5,423 CORRECTIVE LEVEL : price will 5,482 , correct itself before long I HOPE YOU A PROFITABLE DAYLongby ArinaKarayi4
S&P 500 Weekly Sell DivergenceThe SPY has a Gartley (Shark Pattern) with a pretty steep divergence on the RSI and Stochastic. Here is the Stochastic Sell Divergence on the Weekly Chart.by NotFredo3
S&P 500: All-Time Highs and Potential DeclineS&P 500 (SPX) Technical Analysis The S&P 500 (SPX) has continued its bullish trend as anticipated the previous week, successfully reaching the projected target of 5450. However, it now appears poised for a potential decline. This Week's Outlook: The price is likely to experience a strong bearish correction as long as it trades below 5450, potentially reaching 5310 and 5260. However, the SPX is expected to consolidate between 5450 and 5260. Bullish Scenario: To initiate a new bullish trend, the price must close at least a 4-hour candle above 5450, targeting 5485. Sustained stability above 5450 would be required to confirm a bullish move towards 5550. Bearish Scenario: As long as the price remains below 5450, it is expected to drop towards 5345 and 5310. A further decline could see the price reaching 5260. Key Levels: - Pivot Line: 5450 - Resistance Levels: 5484, 5525, 5550 - Support Levels: 5372, 5320, 5261 Weekly Expected Trading Range: The anticipated movement range for this week is between the resistance at 5460 and the support at 5260. In summary, maintaining a position below 5450 suggests a bearish outlook with lower support targets in focus. Conversely, closing above 5450 could indicate a bullish reversal, aiming for higher resistance levels. Our Previous Weekly Idea: Fundamental Analysis:: Market Analysis: S&P 500 at All-Time Highs Amid Overbought Conditions Overbought Conditions Aren't a Sell Signal: A low VIX indicates an overbought condition, but it does not serve as a sell signal. Bullish Momentum in the S&P 500: The S&P 500 (SPX) is once again at all-time highs, with bullish momentum accelerating. Following a favorable interpretation of the consumer price index figures on Wednesday, the S&P 500 surged to new intraday and closing all-time highs. Fed's Impact and Market Reaction: Despite a somewhat lukewarm outcome from the Federal Reserve's FOMC meeting later that day, which triggered some sell programs, the overall buying momentum remained strong. Positive Indicators Amid Overbought Conditions: Our indicators have largely remained positive throughout this phase and continue to signal bullishness. However, overbought conditions are starting to appear, which is expected given the strength of the rally. Shortby SroshMayi6
Single-digit correction comingSPX hits the upper bound and is ready to decline to 5200 by July 12.Shortby AlbCM2
SPX500USD ( BULLISH ) ( 4H )SPX500USD HELLO TRADERS YESTERDAY : AS MENTIONED RISING , AND AIMED FIRST TARGET Tendency the price is a long pressure in 5,517 FVG : The price FVG between level 5,517 and 5,503 , so as long as the price above 5,517 there will be a new historical peaks , breaking 5,503 it will reach 5,458 ORDER BLOCK : the price in order block between 5,437 and 5,423 , so it will breaking 5,423 the price attempt to decline RESISTANCE LEVEL: until price trade above FVG at 5,517 , the price will rise to 5,540 and 5,570 SUPPORT LEVEL : the price breaking 5,517, it will reach the support level of 5,503 then stable this level reach to 5,558 CORRECTIVE LEVEL : price will 5,517, correct itself before long I HOPE YOU A PROFITABLE DAYLongby ArinaKarayi3
SHORTThis analysis is based on price and time expansion. We have three time points defining an alternate time relationship for (top-to-top) or (top to bottom) This time expansion alternating between tops and bottoms also puts the next point on 26th August 2024 weekly candle. We also have a time projection on 10th June 2024 weekly candle(+/-1) where we expect markets to top. That gives us a timezone between 10th June to 26th August 2024 to expect a heavy market reaction. The two indicated times 965 and 685 days have a Phi relation of 3 : 2 341.2 x 1.4142 x 1.4142 = (341.2 x 2) = 682.39 units 341.2 x 1.4142 x 1.4142 x 1.4142 = (341.2 x 2(Root 2)) = 965.03 units To narrow the time zone down we will need to align that with price expansion. The current cycle unfolding is the ending part of the 20-year cycle with its origin at the 07/10/2002 bottom. Considering the March 2009 bottom as the actual low of this cycle we would expect a 4669.47 points advance from 666.79 to complete a Phi³ price expansion, where Phi = 5/3 = 1.667 and unit value = 1008 units. That is: 666.79 + (1008 x 1.667³) = 5336.26 Current top = 5341.88 = 5336.28 + (5.6 pts) The progression of the Phi Expansion from 666.79 price level: 666.79 + (1008 x 3/2) = 2178.79 666.79 + (1008 x 1.667) = 2347.13 Second Phi Expansion 666.79 + (1008 x 1.667²) = 3467.91 Third Phi Expansion 666.79 + (1008 x 1.667³) = 5336.26 The progression of tops and bottoms furnish us with two projections 1. Since the Phi points are all bottoms, price can advance about 1540 points off 5336.26 and the correction that will follow will rather end at 5336.26. That will put the top at (5336.26 + 1540) = 6876.26 price level. This top has no relation to the two projected dates on the chat. 2. Cycle expansions usually terminate at cubic Phi progression, that is (Unity x Phi³). So the third expansion will actually be a mid-cycle top which will effect a minor correction.The base of this correction will be the bottom for an advance towards 6876.26 level From the above, any short entries should have tight stop levels Please check back as we break the analysis further down to the daily and hourly sub cycles. Trade safe, goodluck Shortby Platinum-MarketsUpdated 3312
SPX500USD ( TRADE ABOVE FVG ) ( 4H )SPX500USD HELLO TRADERS Tendency the price is a long pressure in 5,458 FVG : The price FVG between level 5,458 and 5,437 so as long as the price above 5,458 there will be a new historical peaks , breaking 5,458 it will reach 5,437 ORDER BLOCK : the price in order block between 5,423 and 5,393 , so it will breaking 5,393 the price attempt to decline RESISTANCE LEVEL: until price trade above FVG at 5,458 , the price will rise to 5,482 and 5,519 SUPPORT LEVEL : the price breaking 5,458 , it will reach the support level of 5,437 then stable this level reach to 5,423 and 5,393 CORRECTIVE LEVEL : price will 5,458 , correct itself before long I HOPE YOU A PROFITABLE DAYLongby ArinaKarayi3
S&P 500 LONG TRADE PLANThe instrument has been trading inside a bullish channel for some time now. While on it, it recently broke above a strong key zone. Looking for bullish continuation from that area. Please do your own analysis before placing any trades. Cheers and happy trading. Longby FX_Wize112
SPX: overbought momentum - againNvidia has again impacted the course of the S&P index, but this time to the opposite side. The index pulled back on Friday, after the market reassessed the stock's all time high. The stock notably declined on Friday closing down by more than 3%. This drop contributed to a broader sell-off in tech stocks. The decline was partially attributed to profit-taking after a strong rally during the year of around 155% year-to-date, and concerns about the sustainability of its high valuation amidst the ongoing AI boom. The S&P 500 still managed to reach a new record in value during the previous week and surged around 0.6%. The new ATH for the index is 5.503, reached on Thursday. Still, Friday`s decline brought the index to end the week at the level of 5.471. At the same time analysts from Deutsche Bank are noting a high possibility of the S&P 500 pullback in the coming period. They are specifically referring to three factors which might indicate that the short reversal is coming, including: increase in equity positioning of discretionary funds, nine consecutive weeks of inflows into equity funds and approaching buyback blackout period before the release of Q2 results. These factors might bring a short pause to the continuing uptrend of the index, as per DB analysts. by XBTFX3
SPX500USD ( UNDER DOWNWARD PRESSURE ) SPX500USD HELLO TRADERS on the THURSDAY and FRIDAY , the price started to dropping , and for know stable bearish area Tendency the price is a bearish pressure in 5,496 TURNING LEVEL : the price turning level at 5,496 , price stable below this level it becomes reach a support level , but if breaking this level active bullish area RESISTANCE LEVEL: if the price braking turning level at 5,496 , the price will rise to 5,524 and 5,557 SUPPORT LEVEL : the price trade below turning level 5,496, it will reach the support level of 5,458 and 5,423, stable this level reach to 5,381 CORRECTIVE LEVEL : price will 5,496, correct itself before decline ------------------------------ * Thank you , if you support this idea with your likes and comments , I hope you a profitable day🤍🤍🤍🤍🤍Shortby ArinaKarayi3
Another upmove for SPX500USDHi traders, Last week SPX500USD went more up after a small correction down just like I've said in the outlook. Next week we could see another upmove for this pair. Trade idea: Wait for a correction down on a lower timeframe and change in orderflow to bullish to trade longs. If you want to learn more about wave analysis, please make sure to follow me, give a like and respectful comment. This shared post is only my point of view on what could be the next move in this pair based on my analysis. I do not provide signals. Don't be emotional, just trade! EduwaveLongby EduwaveTrading2
W pattern In SPX Daily.Fellow traders! We have a "W" or double bottom pattern on the daily in SPX Oanda. Call it what ever you want, I call it UP. Best we can to as traders is to confide in our charts and call out what you see. Right or wrong , as long as you are right 60% to 80% or higher you are making CASH $$$. Markets are by design to throw you around the room and for a loop from time to time so just be patient. Let's see if money is to be made with this pattern. 5404.5 to start. 5493 area if we break from 5404 area. Trade with patients and trade like a machine, not with emotion. Stick to a plan and set a stop behind your profits at all times. Use a parabolic sar or just below a 10ma as a line in the sand for a stop point. Best of luck in all your trades .Longby Trade-FarmerUpdated 113
15 Minute Gartley, Sell Divergence, and Bearish Rising ChannelThis is the Blowoff Top.... When this sucker blows, expect it to be Biblical!Shortby NotFredo3
Stocks in beast mode since 1945This is why perma-bears are more often wrong than right. Shorting US stocks is a lower probability play that must be properly timed with technical analysis. #spxby Badcharts2
1 HOUR SELL DIVERGENCE S&P 500I get the whole "Great Company" argument, but with "The Great Taking" you don't actually own those "great" companies.... so what's the point? Anyway, nice 1 and 4 hour divergences now on Spoo... We will be watching the Weekly and Monthly STEEP sell divergences also and posting them when we can... Shortby NotFredo2
SPX still bullish but weekly chart bearish outlook In my view SPX next target is 5500-5530 where could reverse to target 4250 area next year. I would wait for rsi double top in weekly tf to short by mpdUpdated 4
SPX500USD Will Go Up! Long! Here is our detailed technical review for SPX500USD. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 5,430.7. Taking into consideration the structure & trend analysis, I believe that the market will reach 5,568.2 level soon. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!Longby SignalProviderUpdated 112
SPX500USD ( BEARISH PRESSURE ) ( 4H )SPX500USD HELLO TRADERS Tendency the price is a short pressure in 5,438 Turning level : The turning level 5,438 , so as long as the price above this level, there will be a new historical peaks resistance level : breaking turning level 5,438 , the price will rise to 5,475 and 5,519 support level : braking a turning level 5,438 the price will reach the support level of 5,372 and 5,326 supply zone : below 5,438 demand zone : 5,372 and 5,326 I HOPE YOU A PTOFITABLE DAY Shortby ArinaKarayi3