S&P 500 Index
Market closed strongly last week after reaching a new historical high. There was some sluggish consolidation on Thursday-Friday but near end of Friday trading hours, bulls put end to it by setting hourly higher low. Friday closed within Thursday’s range after a failed break-out, which is a very bullish signal. Currently, we have full alignment on all major...
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...
SP500 Index Forecast The price continues to attempt a correction towards 5281 as long as it trades below 5320. However, overall stability above 5325 would indicate a continuation of the bullish trend towards 5360 and beyond. The bearish scenario will be activated if the price breaks below 5281 and 5266. Pivot Line: 5313 Resistance Levels: 5325, 5340,...
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...
Trading Plan for Wednesday, May 15th, 2024 Market Sentiment: Bullish, consolidating within a tight range after a strong rally. The market could continue to build out a bull flag pattern or break out directly to new highs. Key Supports Immediate Supports: 5329 (major), 5318 (major), 5302-04 (major) Major Supports: 5272-74 (major), 5236 (major), 5208...
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AMEX:SPY looks to be showing signs of weakness here. Thinking that we could see the first large decline of the year into one of the support levels below $479-$495. Breaking the trend line would be the trigger. If that happens and we do get a low, then I think we'll have one final rally to the upper resistance levels between $525-$530. Another possibility, is...
It’s hard to believe that only a few short years ago, Super Micro stock was trading for $10 per share. Now that it’s hovering near the $1,000 area. And Yes, SMCI stocks are still Top #1 over the all S&P500 components with +217% YTD performance in 2024, and +471% 12-months performance. Supermicro is an American company, a major manufacturer of motherboards,...
Supermicro is an American company, a major manufacturer of motherboards, cases, power supplies, cooling systems, SAS controllers, Ethernet and InfiniBand. The company specializes in the production of x86-server platforms and various components for servers, workstations and data storage systems. The headquarters is located in San Jose, USA. Founded in...
I bought long SQQQ $10-$10.50 May 24th to 31st calls this morning, if we hit 5400 i'll add. The VIX is bouncing as suspected at $12 and the S&P500 wants to dip below and confirm a 5300 fake out which was my bias and the DOW (DJIA) wants to do the same at 40k bitcoin is faking out above 67500 into an expanded flat pointing to my 63,300-63,500 short term short trajectory
Hi everyone, I see two possibilities. Blue or Brown ? (we have to see!) Technical Section: The Blue Path: S&P500 is completing the fifth wave of the 5th wave of a five-wave rally. Wave 5 = 2.618 x length of Wave 1 Wave 3 = 2 x length of Wave 1 Target = 5790 The Brown Path: S&P500 is completing the fifth wave of the 3rd wave of a five-wave...
Trading Plan for Monday, May 20th, 2024 Market Sentiment: Bullish, consolidating after a historic rally. Key Supports Immediate Supports: 5309-11 (major), 5302 (major), 5294 Major Supports: 5267-72 (major), 5232-35 (major), 5208-11 (major), 5150-55 (major) Key Resistances Near-term Resistance: 5329, 5333 (major), 5342-5345 (major) Major Resistances: 5375-77...
SPX500 New Forecast The price is expected to attempt to reach the resistance level at 5360. It may correct down to 5304 before resuming its bullish trend. As long as the price remains above 5320 and 5304, the bullish trend is likely to continue towards 5360. If the price breaks through this level, it is anticipated to reach 5390 and potentially 5480. Pivot...
As you can see, the S&P 500 index closed at a higher price on March 2nd, 2008 than it did on August 1st, 1996. However, it closed at a lower price on March 1st, 2000 than it did on March 2nd, 2008. This means that if you had bought the S&P 500 index on August 1st, 1996, you could have bought it again on March 2nd, 2008 for slightly cheaper. However, if you had...
Logarithm. Large timeframe 1 week. On the chart a big bowl, you can say already with a handle, the price is testing the resistance of the previous market highs for the 3rd time (entering this zone). Breaking through it, this resistance will become a very strong support during the pumping (probability no more). Simplifying the complex is the key to...
SPY (S&P500 ETF) has been in an uptrend since 2023 and is approaching its all-time-high price resistance again. $523.07 is the current all-time-high price resistance. $497.83 is the current support level price, and also the 0.236 fibonacci level. Bullish Scenario: If SPY price breaks out above $523.07, the next resistance price targets could be: $537, $550,...
The SPX500 hourly is still being influenced by overhead resistance. However, the longer term trend remains firmly up. Looking to see if support proves to be compelling to the shorter-term traders. This video is intended for the users of Stratos Markets Limited, Stratos Trading Pty. Limited and Stratos Global LLC, (collectively “FXCM Group”). Stratos Markets...
True market capitulation fear events are marked with semi generational fear levels of the charts Were at a point of a resistance , but could easily slice through this level if we get increasing levels of uncertainty and panic entering the markets Could we see 30? Possibly