Here is our detailed technical review for US500.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 5122.2.
Taking into consideration the structure & trend analysis, I believe that the market will reach 5315.3 level soon.
P.S
Overbought describes a period of...
Elliott wave analysis on s&p500
The extending wave 'C' finishes its 3rd rise, now its time for wave 4 fall which is obviously a zigzag in nature, since this is motive wave ,you can hold PUTs until 5000
Looking at the 1M on the AMEX:SPY , it's leading me to think if we close below last months low, we should be confirming regular bearish divergence, giving us a target of at least to the 21e . Please see chart for reference of current target.
fastlanewinners.com
CNBC reported a significant downturn in the S&P 500, marking its most substantial decline since January. What were the underlying factors?
In my analysis, two key reasons stand out:
1. A surge in market panic selling occurred on Friday (12th April 2024) amidst escalating tensions between Iran and Israel. This heightened geopolitical uncertainty prompted...
With the MACD positive momentum waning, and the Stoch RSI crossing back under the Bullish control Zone i would look to the .236 fib retracement ( 4994) for the first target. The Bull Market Support Band will be closing in to the level in the future , may act as a magnet.
This idea is on a weekly time frame so it could take months to play out.
US Credit spreads are widening against most majors and also against HYG suggesting tightening of monetary policy. If this trend continues alongside rate divergence then it may provide a catalyst for technical levels to the downside to be reached. The 61.8 fib of the last move up combined with a CDX HYG of 400 (prior structure) provides for an SP500 at 4600.
Points...
The orange zone is a sort of black box so to speak, I don't know what's going on there.
When price comes out one end I can have a good chance it will go that way until the next zone, at which point it might bounce, pierce, go through etc, black box again.
Go to a lower timeframe when price is in a direction area, and only take trades with that bias, using your...
Hi traders,
Last week SPX500USD made an impulsive downmove followed by a deeper retracement up before it dropped again just like I've said in my outlook.
Now we should see another correction up to rebalance into the FVG and another drop.
Trade idea: Trade sells after a (small) correction up on a lower timeframe and a change in orderflow to bearish.
If you want...
Technical Analysis and Outlook:
The Spooz continue to experience a severe drop in this week's trading session, hitting our two Mae Sup levels: 5150 and 5120, respectively. The current price action indicates that the market will pursue an upside movement to target our Mean Res 5208 and beyond. On the downside, Spooz may continue on a downward spiral to the Mean...
Hey Traders, in the coming week we are monitoring US500 for a selling opportunity around 5200 zone, US500 is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 5200 support and resistance area.
We would also like to consider the current bullish momentum on the dollar, due to the negative correlation a strong...
fibonaaci levels showing me the SPX has peaked
and more money printing is required. Even though
real interest rates are still negative (loose money)
the SPX has struggled to break higher. Fed needs to pump
more money and buy more bonds. If it can not do this then
Fibonacci has decided the market top. and a 38% retrace
could happen.
The S&P 500 finished another week in negative territory, shedding -1.6% (-2.5% MTD). While it is clear that this market remains the domain of buyers, 90% of the upside in March has been reclaimed, and evidence is building for a deeper correction.
Deeper Correction Possible
Kicking things off from the monthly chart, following last week's all-time high of...
I am dreaming of a swan song 🦢 event and a break from its traditional cycles. In this analysis, 7-year cycles fractal out into larger macro cycles, and so on. Just for fun...
