S&P 500 Index
Originally I was thinking that we'd see a move to the $480 support after testing the highs, however, because we haven't fallen yet, the chart no longer supports that view. Instead, I think the most likely scenario is that we fall on or after Wednesday 5/29 back to the low $500 area, then we go back to test the highs at $530. The retest of $530, will setup the...
SPx New Forecast The price of the S&P 500 reversed from its support line at 5266 and can now reach the resistance line at approximately 5305, with the potential to touch 5320 as well. If the price remains below 5305 and 5320, it will likely fall back to the support line at 5266. Breaking this level could extend the bearish trend towards 5226. Pivot Line:...
Last week was marked with indecision. Market was moving in a narrow range while Buyers were waiting for FOMC ad NVDIA’s earnings. After receiving positive confirmation (FOMC neutral, earnings good) market tried to go higher but found no support from large players. Sellers took advantage of the weakness and dropped price, clearing many weak longs established in the...
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...
The S&P500 index is recovering from the last Higher Low at the bottom of the Channel Up, which even broke below the 4H MA50 (blue trend-line) last Thursday for the first time since May 02. The 4H MACD is forming the first Bullish Cross since that very same date, which was also a recovery sequence after a bottom on the Channel Up pattern. Having also breached into...
Shares of Hoka-owner Deckers Outdoor rose in after-hours trading Thursday after the company handily beat Wall Street expectations in its fiscal fourth quarter. The stock was recently up 9.4% to $990, following a 1.3% rise at the close. Shares are up about 35% this year as of the close. The Goleta, Calif.-based shoe and apparel company, which also owns the Ugg...
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The market remains cautiously optimistic as the S&P 500 tests the 5300 resistance level. The deceleration in inflation is promising, yet the Federal Reserve's future monetary policy remains uncertain. Investors should stay vigilant, monitoring economic data and Fed communications to navigate potential volatility and capitalize on market opportunities. * S&P 500...
SPX into monthly resistance. NVDA carrying the market as other semis lag. Oil reversing off support...trying to breakout of falling wedge. Yields quietly moving over the CPI dump last week. over 55% of the S&P500 companies trading below the 50day.
Congratulations NVDA, because you delivered everything you could deliver in terms of good results, however, can we get back to reality? Will the Black Monday that we experienced in 1987, in the DOW JONES index, be experienced again in 2024, and thanks to NVDA and technology companies? We know what happened between 1980 and 1985 to the American economy,...
AMEX:TAN ETF looks like it has started a nice move. I got in on this one May 9th as it broke above the downtrend line for the second time since the gap up May 3rd. It came close to stopping me out on May 21st, but it held above my stop. I was rewarded on May 22nd with a massive volume surge, due in part by the big move on $FSLR. It looks to me to be at an area...
Here is a short trade idea on the S&P, using the SPX500USD chart. We are basically at all time highs right now. This short idea is based on buyside liquidity recently raided, and now looking to ride a retracement/reversal down to a Discount PD Array. There was a good-looking Unicorn setup that formed. Price is already in an entry area, but I've indicated a...
Here is our detailed technical review for SPX. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 5,304.15. Taking into consideration the structure & trend analysis, I believe that the market will reach 5,178.42 level soon. P.S The term oversold refers to a...
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...
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...
Yesterday the SPX500 dropped around 0.8%. this sets up an interesting dynamic where short-term traders may look to capitalize. This video is intended for the users of Stratos Markets Limited, Stratos Trading Pty. Limited and Stratos Global LLC, (collectively “FXCM Group”). Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with...
Trading Plan for Friday, May 24th, 2024 Market Sentiment: Uncertain, as the market has transitioned from a rally to a short-term dip. Bulls are attempting to defend key supports, while bears are looking for further downside continuation. Key Supports Immediate Supports: 5265 (major), 5253 (major) Major Supports: 5230-35 (major), 5202 (major), 5177 (major) Key...
It is sort of starting to look like Bitcoin will soon start to move inverse to the SPX and become more positively correlated with a Defensive Asset or Inflation Hedge which would mean we could see BTC more than double in value against the SPX as the BTCUSD pair starts to trade similarly to Cocoa or OJ futures once it breaks out above the resistance.