SPX expected to rise up to 1st resistance at 3027.4 where it could potentially react off and drop down to 1st support at 2947.0.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Hi traders
following up on my previous analysis, I noticed that wave III of the ending diagonal was a tiny short of being 50% of wave I.. meaning that is possible that wave III is not completed yet and is forming a larger 3 wave structure breaking slightly the previous top and falling back again to make wave IV.
I still think that wave V will reach the same target...
The S&P index, as well as small-cap indexes, indicate this is a good time to be long, or be looking for long swing trades in certain sectors.
Here are the bullet points of why I am bullish on the S&P 500.
-The uptrend is pushing toward new highs. Bullish. Old highs are expected to be broken in an uptrend. It's only when they aren't that there is something to be...
The global stock market gets its cue from over-optimistic narrative news that resulted in a pandemic obsession to push stock market asset price higher at any cost.
We live in the era of pandemic good news narrative, that resulted in ignoring, and dismissing any bad economic news as yesterday’s news.
-Monetary easing and negative interest rate is widely...
Hi Traders
here a quick update of what i see in the short term
I see a bear flag forming.. this would be in line with my count: I think that we completed a wave 3 RED (itself composed by 5 small wave in roman numbers between brackets)
What I am expecting is a fall or a gap opening tomorrow to complete wave 4 RED and then a further push up to make wave 5...
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Oil and Geopolitics to Trump the Fed this Week? - Day 2
The Saudi Refinery attack over the weekend sent the Oil prices to the stratosphere yesterday, and the geopolitical tensions surrounding Iran are rising. Yet, the price action in equities has not been as panicky as one would expect, possibly owing to an underlying "optimism" that the Fed this week has to take...
Results of our models' trading plans, published in the morning, are now available. Anyone can verify/cross-check the triggering of these trades from any source that provides charts.
THE GIST:
Medium-Frequency Models: Open short - entered at 3016.0 on Thursday at 3:40pm - is closed out for +15.03 index points in gains.
Aggressive, Intraday Models: Lead to +0.2...
Market has been trading sideways during overnight session.
However, it did test the 3000 level and bounced off quickly which is bullish.
Today being Fed day a rate cut would give a boost to the market and a subsequent rally .
Level to watch 3004---3006
Reports to be aware are:
US:EIA Petroleum Status Report
10:30 AM ET
US:FOMC Meeting Announcement
2:00 PM ET
...
Market has been selling off all night and trading at low of yesterday's RTH session.
If Bulls can not push it above 50% level of yesterday's RTH session, we might see a sell off.
However, it might be a range bound day.
Level to watch 2997---2995
Report to be aware of :
US:Housing Market Index
10:00 AM ET
Last week the S&P 500 rallied reaching our target of $3,000 off of positive U.S.-China trade news. Just last week China purchased $67 Million in Soybeans. In addition, Trump announced that he is open to an Interim-Deal with China, as they look to settle.
According to CNBC, they believe that this trade war has shifted the global economic environment, stating “It...
Last post: See link below.
Review: Price was trading above previous resistance now turned support.
Update: Price is currently losing momentum as it approaches the next area of resistance.
Conclusion: Time will tell what price chooses to do next, but we are still patiently waiting for a breakout of resistance.
Any comments or questions, do not hesitate to leave...
SPX reversed off its resistance at 3027.4 where it could potentially drop further to 2947.0.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Results of our models' trading plans, published in the morning, are now available. Anyone can verify/cross-check the triggering of these trades from any source that provides charts.
THE GIST:
Medium-Frequency Models: Open short - entered at 3016.0 on Thursday at 3:40pm - is carried to the next session with a 10-point trailing stop anchored at...
Standard and Poor's 500 Index is a capitalization-weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The index was developed with a base level of 10 for the 1941-43 base period.
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