Bulls and Bears zone for 05-16-2024Yesterday 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 by traderdan590
SP500 (Bullish Continuation)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 labor market's strength. Technically: The price established a new bullish trend after breaching the breakout zone at 5281 and stabilizing above it with a daily candle. This development supports a further bullish trend, targeting 5357 as the first milestone. Additionally, a retest may occur down to 5299 and, if necessary, to 5281 before continuing the bullish trajectory. Pivot Line: 5320 Resistance Levels: 5357, 5387, 5435 Support Levels: 5281, 5263, 5227 Today’s expected trading range is between the support 5281 and the resistance 5357.Longby SroshMayi9
John Law would be proudSPX going to the moon. all bets are off and the FED will inflate SPX baby to the moon. there is no way back now. REAL interest rates will never be positive again. Fed will take the path of least resistance which means we will pump stocks too the moon. There is no free lunch so the price of a cup of coffee will be $50 soon. I'll tell you a secret ... free markets do not exist. communism is everywhere. The Fed is the cental planner... and the plan is to inflate this baby to the moon until it dies. like a heroin addict Overdosing. yeah baby. Longby RogueCleaner223
S&P 500 - last leg up, after finding the (4)Not much more to say. What you see in the chart: - inverse shoulder head shoulder target - my interpretation of the elliot wave (we are now in wave 4 => more downside possible!) After hitting wave (5) target, there should be an A-B-C correction. This could take 1-2 years!by Crypto-Coin-TraderUpdated 2
Elliott Wave Analysis on SPX Looking to Extend Higher in ImpulsiShort 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 pullback in wave (ii) ended at 5176.63. Wave (iii) higher is still developing. We can see another nest formed as part of wave (iii). Up from wave (ii), wave i finished at 5229.58 and pullback in wave ii ended at 5211.16. Then, SPX did a strong rally making an all-time-high breaking March peak. Expect the index moving sideways-higher to complete groups of waves 4s and 5s until wave ((iii)) is finished. Right now, there is not a potential target for wave ((iii)). A strong pull back in the index would suggest that wave ((iii)) has ended and wave ((iv)) correction has started. Then, expect to find support for further upside in wave ((v)). Near term, as far as pivot at 4953.9 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside.by Elliottwave-Forecast3
SP500. Weekly trading levels 13 - 17.05.2024SP500 is again almost at a historical high, with one zone to go ahead. During the week you can trade from these price levels. Finding the entry point into a transaction and its support is up to you, depending on your trading style and the development of the situation. Zones show preferred price ranges WHERE to look for an entry point into a trade. If you expect any medium-term price movements, then most likely they will start from one of the zones. Levels are valid for a week, the date is in the title. Next week I will adjust the levels based on new data and publish a new post. The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :) ---------------------------------------------- I don’t play guess the direction (that’s why there are no directional arrows), but zones (levels) are used for trading. We wait for the zone to approach, watch the reaction, and enter the trade. Levels are drawn based on volumes and data from the CME. They are used as areas of interest for trading. Traded as classic support/resistance levels. We see the reaction to the rebound, we trade the rebound. We see a breakout and continue to trade on a rollback to the level. The worst option is if we revolve around the zone in a flat. Do not reverse the market at every level; if there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern. Don't forget to like Rocket and Subscribe!!! Feedback is very important to me! by Forex_HobyUpdated 3
SPX 5500 BY 2025 ? REASONS WHY !!! Optimistic Market Forecasts: Analysts and strategists, such as those from Deutsche Bank and Infrastructure Capital Advisors CEO, have made bullish predictions for the S&P 500. Deutsche Bank's forecast for the S&P 500 to reach 5,100 in 2024, and Infrastructure Capital Advisors CEO Jay Hatfield anticipates the S&P to reach as high as 5,500 points by the end of 2024. These forecasts indicate a strong belief in the market's potential to continue its upward trend. Strong Earnings and Valuations: The trailing 12-month P/E ratio for the S&P 500 of 25.7 is above the 5-year and 10-year averages. This suggests that investors are willing to pay a premium for stocks, which could be a positive sign for further market growth. Historical Performance: The S&P 500 has already hit 23 new records in 2024 and has been performing above average historical years. This indicates strong market momentum and investor confidence. Cumulative Weight of Top Stocks: The cumulative weight of the top 5 stocks in the S&P 500 has hit a 50-year high. This indicates that the market's performance is being significantly influenced by the performance of a small number of large-cap companies, which could potentially drive the index higher if these companies continue to perform well. Market Resilience and Recovery: The market has shown resilience and recovery from the economic downturn, with the S&P 500 already up by 9.6% this year, which is above the average year since 1950. This resilience could be a sign of continued growth throughout the year. Positive Outlook from Analysts: Analysts like CFRA Chief Investment Strategist Sam Stovall predict that the S&P 500 will hit 5,400 by year-end and 5,610 within the next 12 months, indicating a positive outlook for the market's performance. Potential Rate Cuts: The expectation of rate cuts by the European Central Bank could provide a boost to the global economy and the U.S. markets, including the S&P 500. Positive Market Sentiment: The overall market sentiment seems to be positive, with a bullish outlook on the S&P 500 from various analysts and strategists. This positive sentiment could drive further investment and growth in the market. Technology Sector Performance: The technology sector has been a leading performer, soaring 50%, indicating strong growth in this sector, which could help drive the S&P 500 higher. Economic Data Surprises: The U.S. economy has been showing positive surprises in economic data throughout 2023, suggesting that the economy is stronger than expected, which could support the market's growth.Longby NYRUNSGLOBAL2
Hellena | SPX500 (4H): Long to resistance area 5282.3. Dear colleagues, I assume that the upward movement in the senior wave “3” will continue, but after a small correction, presumably to the area of 50% Fibonacci level 5117.0 . Then I assume the continuation of the upward movement to the resistance area 5282.3. Manage your capital correctly and competently! Only enter trades based on reliable patterns!Longby Hellena_TradeUpdated 6613
Covid "Brrrrrrrrrrr" Bubble Top Projection for SPX500OANDA:SPX500USD Thanks to the FED, the infinite money printer FRED:WALCL (white line) propped markets up again since beginning of Sept 2019. Now that inflation has rooted in, mass layoffs are occurring daily along with another round of increased small bank failures, the FED is once again reducing their balance sheet... Let's see if this is the point where market participants throw in the towel to buy back lower. Stay Tuned!by tantamountUpdated 116
Lighting never strikes same place twice - S&P 500 6k MegaphoneBear divergence noted on the larger timeframe. Could this current divergence setup be similar to the previous selloff in 2020 which ended up painting the bullish megaphone for which we saw a face ripping move higher toward 5k. If this similar pattern happens, I suspect 6k S&P will be realized after. Not Trading Advice. Entertainment ONLY! by tantamountUpdated 6
Pump the SPX Ponzi - Long live the Munee Printer!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 consider why SPX would continue higher in the first place. Well, economic numbers, simply. Everything is GREAT!! Inflation is down, more jobs are being created, banks are "STRONK and resilient" and there is no housing crisis (tongue firmly in cheek). I wouldn't expect a market crash during an election cycle either. What's the point of losing credibility over a monopolized monetary engine that creates money out of thin air, lends it to a borrower with $35T of debt, then having to face congress and be verbally held accountable for why you kept serving the drinks to an already drunk customer that went out and caused and accident! No one wants that, so I expect more Brrrrrrrrrrrr for now. Cheers! Longby tantamountUpdated 443
spx is bullishSP500 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 market could force the Fed to be more dovish than previously expected. The yield of 2-year Treasuries pulled back towards 4.80%, while the yield of 10-year Treasuries settled near 4.45%, providing additional support to SP500. Today’s move was broad, and most market segments gained solid upside momentum.Longby MtICHIUpdated 0
SPX may end the year above 5295Based 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).by alessm65617Updated 0
SPX500USD Awaiting a back-test of the Ascending Triangle , 3rd target is just there to represent a long term hold. Longby SiadoreRUpdated 0
Weaker CPI will push spooze to ATHIntraday 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.Longby ForexAnalytixPipczar0
And you may find yourself behind the wheel of a large automobileAnd you may ask yourself, "Well, how did I get here?"by kaufman1830
The S&P 500 Index Has Reached a Significant Resistance LevelThe S&P 500 Index Has Reached a Significant Resistance Level Analyzing the S&P 500 chart (US SPX 500 mini on FXOpen) on April 26, we wrote about how the April decline could be a correction to the lower boundary of the channel within the 2024 rally. Following this, a logical development would be for the bulls to attempt to resume the upward trend and make another attempt to breach the 5250 level. Today, May 15, the price of the S&P 500 index (US SPX 500 mini on FXOpen) is at the 5250 level after a bullish breakout of the trendline (shown in red) that delineated the correction. The price has risen by approximately 4.5% since the beginning of May as earnings season has not been disappointing, and traders anticipate the Federal Reserve will ease monetary policy. Is further index growth possible? Ben Snyder, Senior US Equity Market Strategist at Goldman Sachs, is positive in the long term but notes that: → the S&P 500 index has already surpassed the 5200 target level indicated by the bank's analysts; → an obvious risk of growth lies in the fact that companies may need to significantly raise profit forecasts. Fundamental background has a significant influence on the dynamics of the S&P 500 index (US SPX 500 mini on FXOpen). For example, yesterday Producer Price Index (PPI) data was released. According to ForexFactory: PPI m/m actual = 0.5%, expected = 0.3%, a month ago = -0.1%. The initial market reaction was a decline in the price of the S&P 500 index (US SPX 500 mini on FXOpen) – perhaps market participants were spooked by rising producer prices and the prospect of higher Fed rates. However, this was followed by a statement from Fed Chair Powell, who reassured the markets. According to him: → the next Fed move is unlikely to be a rate hike; → the PPI data is more "mixed than hot", considering that the previous period's data was revised downwards. The chart of US SPX 500 mini on FXOpen shows that: → the price is moving within an upward channel; → an intermediate trendline (shown with blue dots) within the upward channel is providing support; → after the PPI news, the price tested (as indicated by the arrow) this intermediate trendline; → at the same time, the price also tested the 5200 support level; → Powell's subsequent comments added positivity to the market, and the price rose towards the important 5250 level we mentioned earlier. Market participants are now focused on the next set of important news: Consumer Price Index (CPI) data and Core Retail Sales will be released today at 15:30 GMT+3. It is possible that evidence of inflation slowing down will lead to an increase in the S&P 500 index (US SPX 500 mini on FXOpen), as this will strengthen market participants' belief in an imminent rate cut. In such a scenario, the index price could reach a historical record. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.by FXOpen116
SP500 (Continued, Bullish trend !!!) SPx New Forecast The price is anticipated to approach the resistance levels at 5267 and 5280 before declining to 5249 and 5196. However, the Consumer Price Index (CPI) will have a significant impact on the market. With expectations set at 3.4% or lower, this could bolster bullish trends for indices to reach 5280. Nonetheless, if the CPI is released at 3.4%, the persistently high inflation could trigger movements in the opposite direction. In the initial scenario, we anticipate a bullish trend reaching first 5267, then 5280. Following this, should the CPI not fall below 3.3%, a bearish trend is expected to commence. Pivot Line: 5249 Resistance Levels: 5267, 5280, 5302 Support Levels: 5231, 5196, 5150 Today’s expected trading range is between the support 5177 and the resistance 5280.by SroshMayi4
S&P 500S&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.Longby ImSoloInvestor0
SPX500: Price discussion pre-US CPI dataToday's focus: SPX500 Pattern – Continuation Support – 5211 Resistance – 5267 Hi, traders. Thanks for tuning in for today's update. Today, we are looking at SPX500 on its daily chart. Today, we wonder if the SPX500 can maintain its current bullish bias and possibly test or break all-time highs. Yesterday, buyers fought back after the PPI data, helped by comments from Fed Chair Powell. Will we see retail sales and US CPI match or drop below data that is mainly expected to come in lower? Will this back up comments that maintained buyer hopes yesterday? On the other side of the coin, if data comes in higher, could this set off some sharp selling as buyers may find themselves in a bull trap? It could be an interesting CPI data today. Good trading.05:12by Eightcap1
Here's what Wall Street economists expects this week.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 not anticipated. Despite these challenges, he maintains a cautious optimism that inflation will gradually return to the Fed's target of 2% over the year, though he admitted his confidence has diminished somewhat following the recent data. Powell concluded by stating that the central bank will closely observe incoming inflation data to determine its future monetary policy actions. This week will see an increase in activity with the upcoming release of the U.S. April consumer price index on Wednesday, which is closely watched by economists focusing on potential changes in Federal Reserve policies, particularly the possibility of interest rate cuts before the end of the year. Recent data has shown a disruption in the declining inflation trend from the first quarter, sparking concerns about persistently higher inflation rates and reduced likelihood of monetary easing, according to Sam Bullard, a senior economist at Wells Fargo. In response to these concerns, Fed Chair Jerome Powell has indicated two scenarios that could lead to rate cuts: a reassurance of low inflation rates or a sudden downturn in the labor market. Key events this week include: Consumer Price Index (CPI) for April: Scheduled for release at 8:30 a.m. Eastern on Wednesday. Economists anticipate that the headline CPI inflation will increase by 0.4% for the third consecutive month, with the year-over-year rate possibly moderating to 3.4%, slightly down from 3.5% the previous month. The core CPI, which excludes volatile items like food and energy, might rise by 0.3%, marking the lowest rate since December, with an annual pace expected to decline to 3.6%, a three-year low. Retail Sales for April: Also set for Wednesday at 8:30 a.m. Eastern, where retail sales are expected to show a modest increase of 0.5%, following a strong 0.7% rise in March. Sales excluding autos might increase by just 0.2%, compared to a 1.1% increase the previous month. Adjustments to March's figures could be made, potentially affecting the April growth figures. Weekly Jobless Claims: On Thursday at 8:30 a.m. Eastern, jobless claims are anticipated to decrease by 12,000, offsetting more than half of the previous week's unexpected rise to 231,000, influenced by seasonal employment shifts in New York. Overall, while inflation has shown signs of heating up unexpectedly in the first quarter, economists still forecast a downward trend for the year. The Philadelphia Fed's latest survey suggests that by the fourth quarter, headline inflation could slow to 2.5% annually, with core inflation at 2.7%.Educationby SroshMayi8
The GOAT Returns - pt1: SPX to 4800I've been away refining my method and have returned to deliver a series of important predictions for the coming weeks. The first is a look at the general market using S&P futures. Here is a summary of this chart: ** 2 key levels (above and below): 5163 was the breakdown level from back in April - a retest of this level for resistance is very bearish, but if it breaks back above it can continue higher to 5260 where it will run into even greater resistance (dashed green path) 5040 is an equilibrium level that needs to hold as support if bulls want to keep this afloat. A direct break below 5040 is bearish. Expectation : A rejection at/around 5163 in the coming week OR a direct break below 5040 will initiate a selloff to 4800 by May 22nd, 2024. Depending on when we get either of the bearish signals outlined above, the earliest the drop to 4800 could occur is by 5/13/2024. ~We are completing a B-wave and the drop to 4800 will be the C wave in this corrective cycle off the April high. The extent of this B-wave will be determined by the parameters listed above (estimated B-wave will be from current peak 5140 to upper resistance 5260, 5140-5163 is the most likely ) ~Major distribution over the past month. I'm out of all longs and waiting for my signal to enter short positions. Not Financial Advice.Shortby JerryMandersUpdated 343487
Lets take a step backAll ideas are strictly my interpretation of price action. I am not a professional trader nor is this professional advice. I will continually update all trades.Shortby THE_APIS_TRADER2