Not even gonna guess how high will it fly. Got higher than we expected already. Smoked bears, gone into hibernation. Here are the fib levels for your consideration. Notice price approaches the top Bolly Band. Not a lot of room left to squeeze but it could pump higher. Not overbought yet. Short when it gets there. Bewary.
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U.S. stock index futures edged higher on Thursday, positioning Wall Street to extend gains from the all-time highs reached in the previous session. A subdued inflation report bolstered hopes for interest rate cuts. Economically, investors are anticipating the release of initial claims for state unemployment benefits at 8:30 a.m. ET, seeking insights into the...
We firmly believe that the major stock indexes have a very dire Macro outlook. We will not go into details here (see our other posts) but with the market heading for a downturn we thought it would be awesome to show other small retail investors (thats what we are) that there is nothing to fear. Well nothing to fear other than blowing up your account- we do not...
Federal Reserve Chair Jerome Powell emphasized the need for continued patience in monitoring inflation trends during his remarks at the Foreign Bankers’ Association's annual meeting in Amsterdam on Tuesday. Powell highlighted that while there was some easing of inflation in the U.S. last year, the first quarter showed unexpectedly high inflation rates, which were...
The S&P500 (SPX) index gave us an excellent bottom buy signal on May 02 (see chart below) that comfortably hit our 5200 Target: The pattern that prevailed is a Channel Up, holding since the start of the month. As long as it is supported by the 4H MA50 (blue trend-line) and the 4H RSI Rectangle holds, we expect the current consolidation to give a similar 2.0...
SPX500 is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 5,207.14 which is a pullback support. Stop loss is at 5,150.00 which is a level that lies underneath an overlap support and the 38.2% Fibonacci retracement level. Take profit is at 5,282.20 which is a pullback resistance that aligns with the...
The inflation rate, CPI, and retail sales for the previous month will be released tomorrow. The general market expectations are that the inflation rate advanced higher by 0.4% MoM and 3.4% YoY in April 2024. The CPI is forecasted to come in at 313.75, and retail sales are expected to soar by 0.4% MoM, slowing down from an increase of 0.7% in March 2024. However,...
SP500 Index NewForecast (Structure: Short ) The price has dropped and continues to do so as we predicted, aiming for a retest at 5302 and 5281. It has already reached 5302 and is now moving towards 5281. Currently, the SP500 is undergoing a corrective retracement targeting 5281. At this point, we should monitor whether it breaches 5281. Stability below 5281...
the chart posted is that of the spy it is nearing the end on the first leg down in a wave A and is taking the form of an abc decline into spiral f9 and a high due in the vix cycle 4/15/4/17 put calls have decline well into the cycle and now over bought conditions have as well . I look for a rally to at a min .382 up best of trades Wavetimer
Stocks Set to Open Higher as Investors Await FOMC Minutes and Nvidia Earnings Fed Governor Michelle Bowman stated on Friday that she expects inflation to remain elevated for "some time," but she also anticipates that price pressures will eventually diminish if interest rates are maintained at their current level. Bowman also reiterated that she would not rule...
The S&P500 index is neutral on its 1D technical outlook (RSI = 44.135, MACD = 2.270, ADX = 26.567) despite the fact that it made a new All Time High, in fact turning the former R level into S. The uptrend is being supported by the 4H MA50 since the May 2nd breakout and the Channel Up presents a new low risk buy opportunity close to the 4H MA100, ideally when the...
S&P500 (US500) is falling towards the pivot which acts as a pullback support and could potentially bounce from this level to the 1st resistance. Pivot: 5,275.81 1st Support: 5,203.86 1st Resistance: 5,379.39 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading...
S&P500 (US500) is falling towards the pivot which acts as a pullback support and could potentially bounce from this level to the 1st resistance. Pivot: 5,275.81 1st Support: 5,203.86 1st Resistance: 5,379.39
Equity markets continue to be wrapped into the story of potential rate cuts in the US. The optimism which pushed the S&P 500 toward the level of 5.222 for one more time, was halted on Friday by the much worse than expected Michigan Consumer Sentiment index preliminary for May. Based on these readings, economists are noting a switch in the consumer sentiment in...
Short Term Elliott Wave in SPX suggests that the Index ended wave (4) pullback at 4953.98. From there, it rallies higher in wave (5) as a nesting impulse Elliott Wave structure. Up from wave (4), wave ((i)) ended at 5121.45 and dips in wave ((ii)) ended at 5013.45. The Index is nesting higher within wave ((iii)). Up from wave ((ii)), wave (i) ended at 5200.23 and...
Stocks are in recovery mode, with major indexes trading at all-time highs. This movement began after the US unemployment rate showed a slight decrease in jobs two weeks ago, suggesting that inflation could potentially weaken. This trend was further supported by this week's CPI data, which indicated a drop from 3.5% to 3.4%. Speculators believe that the Federal...