Judging by the round-top and harmonic patterns, the SPX is expected to fall soon.
Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you! “Trade setups, not movements” Let’s jump into the Technical Analysis: WEEKLY TEMPLATE (1hr chart): Tuesday, Wednesday and Thursday the market bring traders...
The current bearish trend is projected to reach 5280 and 5266 if the price remains below the pivot point at 5300. However, if it breaks above 5300, confirmed by a 4-hour candle closing above this level, it could potentially target higher levels at 5311, 5328, and then 5345. Key Levels: Pivot Line: 5300 Bullish Lines: 5311, 5328, 5345 Bearish Lines: 5280, 5266, 5220
If you follow the election cycle S&P 500 usually is in a bullish trend until the election is over. At that point it can have up to a 40% correction or a 50% continuation. Bush Jr inherited the Dot Com bubble and then ended his term with the 2008 Financial Crisis.
Yesterday market hitting another ATH got everybody excited. However traders should be cautious. Any test of ETH session High could provide direction for the day. Level to watch: 5331 --- 5329
OANDA:SPX500USD It would appear to me, price action is in some kind of suppression range like it was before an explosion upwards. If we simply grab the bars pattern from the upward move and overlay them into the channel, you get the following price action respecting future channel boundaries, until the end... So with all that price speculation in mind, let's...
SP500 gains ground as traders react to the Initial Jobless Claims report, which showed that 231,000 Americans filed for unemployment benefits in a week. Analysts expected that Initial Jobless Claims would increase from 208,000 to 210,000, so the report missed expectations. Treasury yields moved lower as bond traders bet that the potential slowdown in the job...
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
Based on the probabilities indicator, the probability of closing the year above 5295 is 70% based on price data from the last 10 years. To get to use the correct number of years of historical data I pick the period where the green line is close to 68% (the probability of staying within bounds).
Take noted the below is not an investment advise, bet at your own risk. I am solely not responsible for any of your loses in money or assets. The Current S&P 500 price is 4320.05 as of 24 September 2023. The S&P 500 have potential to drop to 3900 to 3850 range in the coming 1.5 months before the Fed's FOMC in November 2023. The price will hover between 4618.28...
Intraday Update: The SPX has been grinding against the upper channel resistance since last week. The problem for the market it is not letting bulls in OR letting bears cover shorts. A weaker than expected #CPI could accelerate the move higher above the channel resistance into all time highs.
And you may ask yourself, "Well, how did I get here?"
S&P 500 is currently in a supply zone. If it breaks above, it could reach around $6000 and continue upward, but if it drops below $4800, I expect a bullish trend to start.
US stock indices were a tad firmer this morning following on from yesterday’s mixed session. The main takeaway from Monday’s trade was that the Dow finished a touch lower, and so its run of eight successive positive sessions came to an end. Otherwise, the S&P 500 and NASDAQ 100 continue to consolidate, trading sideways and within spitting distance of their...
Chart looks Bearish, Raising wedge, Bear flag, inverted Cup and handle. Bearish for some time.