For the second week in a row the S&P 500 index was reaching a new highest level ever. During the previous week it was at 4.908. The new levels were supported by released better than expected figures for the GDP growth for the Q4 of 2023. The US economy rose by 3.3%, while the market was expecting to see figure of 2.0%. Still, the index slowed down a bit, after...
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We move past a busy week in markets and onto an even busier one, littered with potential landmines for traders to navigate.
One key theme which has legs this week are moves in Chinese markets – notably, China went after short sellers with several targeted measures. We also saw a 50bp cut to banks RRR amid reports of an RMB2t package for offshore SOE to buy...
An Overthrow here means a failure to hold and build upon the breakout, which would be hugely bearish as has the potential for a large 'M'- Top Pattern.
Checking the indicators (not shown) shows Divergences on RSI & McD and the move up from early 2023 was on declining volume.
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I think s&p goes up on Monday then in Tuesday sharply go down for lowest price of week and liquidity then go up for the rest of the week.
This is a personal opinion. not a signal
I don't really think there's room anymore for buying. We reached the 4800 level. Where do we want to go anymore? The stocks are already pricing 6 rate cuts. Prepare for a retrace.
1st Target 4610
2nd Target 4500
3rd Target 4200
Have a nice ride. Things are starting to crack
"not a financial advice"
Since October 2023 the Nasdaq 100 (NDQ) has been much more bullish than the S&P 500 (SPX).
NDQ rallied 25.7% while the SPX rallied 19.5%.
On 01/26/24 something different happened, the SPX made a new high unconfirmed by NDQ. Also note the daily RSI for SPX has a significant bearish divergence and is in the over bought zone!
A decline in the SPX down to at...
Welcome to WTW latest Forex Analysis.
WTW Team will provide you with valuable insights for the EURUSD, GBPUSD, USDJPY, USOIL, GOLD (XAUUSD), BITCOIN & US30.
WTW Team
Hey Traders, in the coming week we are monitoring US500 for a buying opportunity around 4880 zone, US500 is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 4880 support and resistance area.
Trade safe, Joe.
