SPX500USD ( TRADING ABOVE SUPPORT LEVEL(1) ) ( 4H )SPX500USD
HELLO TRADERS
Tendency, the price is under bullish pressure , until the price trading above support level (1) at 5,206 .
Upward Zone : until the price trading above 5,206 , refers active upward zone , currently the price trading above turning level at 5,267 , to rising inside resistance zone between 5,344 & 5,411 , first thing for this rising reach of a resistance level (1) at 5,344 , by closing 4h candle above it easily reach next level at 5,411 , to confirm a rising , the price should be breaking resistance zone because in this zone have been many sales before .
Downward Zone: should the price reserve and breaking turning level at 5,267 , indicates dropping to support level (1) around 5,206 , to confirm true decline , the price it will be breaking 5,267 , by closing 4h candle below it to reach support level (2) at 5,124 , called support zone have been buying increase in this zone before .
Corrective level :Price may make a correction at 5,267 & 5,206 , before rising .
TARGET LEVEL :
RESISTANCE LEVEL : 5,344 , 5,411 .
SUPPORT LEVEL : 5,206 , 5,124 .
S&P 500 (SPX500)
The doomsday retracementWow, what a week it has been. SPX down 3.5% and up 2.5% the day after.
My thought is this backtrack is going to be the biggest retracement for the drop, just like we saw on bitcoin. APPL seems to have DOJ issues, NVIDIA chip issues in Taiwan... all seems to be lining up for potential lower for longer. My only buy this year will be TSLA. More on that.
Goldilocks is not going to bring us back to pre-pandemic levels, rate cuts are not going to save the market. The narrative has already changed on July 17th when Trump said he didn't want to invade Taiwan, good luck buying after august.
SPX500 H4 | Bullish retracement to continue?SPX500 is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 5,214.93 which is a pullback support that aligns with the 50.0% Fibonacci retracement level.
Stop loss is at 5,080.00 which is a level that lies underneath a pullback support.
Take profit is at 5,403.46 which is a pullback resistance that sits above the 61.8% Fibonacci retracement level.
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07.08.2024 - GBE Marktcheck - DAX, S&P 500, Nvidia, Silber Herzlich Willkommen zu einem neuen GBE Marktcheck mit dem langjährigen Trading- und Charttechnik Experten John Gossen. In diesem Video werden folgende Basiswerte anhand der aktuellen charttechnischen Situation besprochen und unter anderem potenzielle Trading-Strategien aufgezeigt:
- DAX Erholung Richtung 17.700 Punkte?
- S&P 500 deutlich überverkauft!
- Nvidia zieht an!
- Silber mit Long Chance?
Wir wünschen Ihnen einen erfolgreichen Handelstag!
Disclaimer:
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SPX500, JP225, DE30. Analysis for CompetitorsHello traders and investors!
Over 55,000 traders have registered for The Leap paper trading competition. The assets in the competition include SPX500, JP225, and DE30. This analysis may help in making the right decision.
Weekly Timeframe Analysis:
All three indices interacted on the daily timeframe with the level at the base of the last buyer's impulse on the weekly timeframe: SPX500 at 5193.1, JP225 at 36375.7, and DE30 at 17479. On Friday, when the weekly candles close, we will know the results of this interaction.
Daily Timeframe Analysis:
SPX500 and JP225 are in a downtrend. The start of the latest seller impulses are 5571.8 and 39090.9 respectively.
JP225: Today, the price is interacting with 50% of the last seller impulse (34798.4). We are observing the seller's reaction. If the seller does not show strength, we wait for the price to interact with the weekly level 36375.7, where selling opportunities can also be found. There is currently no context for buying on the daily timeframe.
SPX500: The price is still on its way to 50% of the last seller impulse (5333). Note that the 50% level of the last seller impulse (5333) almost coincides with the upper boundary of the price gap (candle from 02.08.24, its close is 5333.6). I anticipate that we will see a seller's reaction at these levels, and it is advisable to look for selling opportunities. If the seller does not show strength, the next significant resistance for the buyer's movement is 5398.6 (the minimum of the penultimate seller impulse), where selling opportunities can also be found. There is currently no context for buying on the daily timeframe.
DE30: The situation is different. The price has formed a sideways movement, with the upper boundary at 18796.5 and the lower boundary at 17941. The seller in the 6-7 vector of the sideways movement has moved below the lower boundary. Note that the 50% level of the seller's impulse (17909.5) and the lower boundary of the sideways movement (17941) almost coincide. It is advisable to look for selling opportunities at these levels. There is currently no context for buying on the daily timeframe.
Hourly Timeframe Analysis:
JP225: On the hourly timeframe, there is an uptrend. The start of the latest buyer impulse is 32793.4. The key candle of the impulse is at its end (the candle with the highest volume in the impulse, marked on the chart "KC").
Buying opportunities can be considered from the buyer's defense of the range 34282 - 34798 or after the formation of a new buyer impulse from buyer zones within this impulse. Keep in mind that there is a downtrend on the daily timeframe.
If the seller engulfs the key candle of the impulse, it will provide context for looking for selling opportunities.
SPX500: The price has formed a sideways movement, with the upper boundary at 5318.9 and the lower boundary at 5198.6. The upper boundary is slightly below the daily levels (5333 and 5333.6). Within the sideways movement, it is advisable to look for selling opportunities from the upper boundary and buying opportunities from the lower boundary.
Selling opportunities can be considered if the seller defends the upper boundary of the sideways movement, interacting with the daily levels.
Buying opportunities can be considered from the buyer's defense of the lower boundary of the sideways movement, in the range of 5198 - 5215. Keep in mind that there is a downtrend on the daily timeframe.
DE30: The buyer has not yet managed to start an uptrend on the hourly timeframe. We only see one impulse so far. The price has already interacted with 50% of the latest buyer impulse, but the buyer has not yet managed to form a new impulse (an hourly candle closing above 17569). There is no clear context for buying or selling on the hourly timeframe at the moment.
If we consider the 2-hour timeframe, selling opportunities can be looked for from the upper boundary of the sideways movement in the range of 17647.6 - 17731.2. Buying opportunities can be considered after the price breaks upwards out of the sideways movement and the buyer defends this breakout.
Online analysis of the daily timeframe: trend or sideways www.tradingview.com
Three Black Crows. Bear Market Candlestick Pattern. Series IIWere you ready or not with recent sell off on financial markets, - this one should be not a surprise.
It's been already discussed in publication " 👀 Three Black Crows. Bear Market Candlestick " , that in unfavorable macroeconomic conditions, the Three Black Crows pattern is generally quite common pattern. Three Black Crows. Bear Market Candlestick Pattern
Three Black Crows is a continuation pattern, being a term used to describe a bearish candlestick pattern that can predict a reversal in an uptrend.
Classic candlestick charts show "Open", "High", "Low" and "Close" prices of a bar for a particular security. For markets moving up, the candlestick is usually white, green or blue. When moving lower they are black or red.
The Three Black Crows pattern consists of three consecutive long-body candles that opened with a gap above or inside the real body of the previous candle, but ultimately closed lower than the previous candle. Often traders use this indicator in combination with other technical indicators or chart patterns to confirm a reversal.
Restrictions on the use of three black crows
If the "Three Black Crows" pattern has already shown significant downward movement, it makes sense to be wary of oversold conditions that could lead to consolidation or a pullback before further downward movement. The best way to assess whether a stock or other asset is oversold is to look at other technical indicators, such as relative strength index (RSI), moving averages, trend lines, or horizontal support and resistance levels.
Many traders typically look to other independent chart patterns or technical indicators to confirm a breakout rather than relying solely on the Three Black Crows pattern.
Overall, it is open to some free interpretation by traders. For example, when assessing the prospects of building a pattern into a longer continuous series consisting of “black crows” or the prospects of a possible rollback.
In addition, other indicators reflect the true pattern of the three black crows. For example, a Three Black Crows pattern may involve a breakout of key support levels, which can independently predict the start of a medium-term downtrend. Using additional patterns and indicators increases the likelihood of a successful trading or exit strategy.
Real example of Three black crows
Since there are a little more than one day left before the closing of the third candle in the combination, the candlestick combination (given in the idea) is a still forming pattern, where (i) each of the three black candles opened above the closing price of the previous one, that is, with a small upward gap, (ii ) further - by the end of the time frame the price decreases below the price at close of the previous time frame, (iii) volumes are increased relative to the last bullish time frame that preceded the appearance of the first of the “three crows”, (iv) the upper and lower wicks of all “black crows” are relatively short and comparable with the main body of the candle.
Historical examples of the Three Black Crows pattern
Here's an example what's happened early in April, 2024
And here's an example what's going on right now in August, 2024
Potentially it may appear again and again. Don't miss it out!
As history has repeated itself already, technical graph for S&P500 indicates on potential recovery, up to 5800 points, until November, 2024 (U.S. presidential elections).
SPY/QQQ Plan Your Trade for 8-5 - CAUTION: Extreme VolatilityThis video highlights why I believe skilled traders are taking minimal, targeted trades in the current market environment.
With the current market volatility as crazy as it is, I don't believe anyone should be swinging for the fences.
If you learn anything from my videos over the past few weeks - know this.
The #1 rule for trading is to protect capital (at all times).
You can be right or wrong while trading. But you have to learn to live to trade another day.
This crazy market volatility could have made a small fortune for some people but destroyed others.
Until we see the SPY move up above $535-$540, there is still a big risk the markets could fall further.
Watch this video to learn more.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
Dow Jones Index (US30): One More Bearish Setup
I also see a bearish trend following setup on Dow Jones.
After yesterday's selloff, the market started a correctional movement.
On an hourly time frame, the market found a resistance around 39100 level
and formed a double top on that.
I think that the Index may drop at least to 38655 level.
❤️Please, support my work with like, thank you!❤️
Look Out Below Market Trends Up This WeekWorking on very preliminary theories of where we could be based on the movement so far. Check out my last analysis from a month ago to see why I thought we were due a major market correction.
Theory has us in:
Supercycle 2, Cycle wave 1, Primary wave 1, Intermediate wave 2.
Assuming we are in the very early stages of a large macro level wave 1 down (Cycle 1), we are likely inside the first wave (Primary 1) of that movement. We may have just completed Intermediate wave 1 down, however, the pace was so fast it may still be early in Intermediate wave 1.
The wave 3 reversal indicators signaled much more than normal which means they all called the end of the impulse waves correctly, or the first group in the currently marked Minor wave 1 was inaccurate. As it is laid out now, Minor wave 2 retraced around 50% of wave 1's drop. Wave 3 extended nearly 161% of wave 1's movement. Wave 4 retraced nearly all of wave 2's movement and wave 5 extended nearly 261% of wave 3's movement. These are all close to Fibonacci movements commonly used for identifying reversals. Although Minor wave 3 as marked is short at just 12 bars long, wave 5 was 11 bars long (as marked) maintaining a wave principle on 3's length. There is enough here to consider Intermediate wave 1's movement complete. Confirmation of this theory should occur if Intermediate wave 2 sees general upward movement over the next week. Intermediate wave 1 currently measures 82 bars. 38.2% of this length is 31.324 bars, so I have rounded up to 32 bars for a premature potential length of Intermediate wave 2.
As far as real world catalysts, the primary earth mover is likely in the Middle East. The world is bracing for a coordinated Iranian strike against Israel. A few articles today mentioned the Tisha B'Av which takes place on August 12-13 as a potential retaliation date. This would begin around bar 33 for Intermediate wave 2.
IF we truly are in the early stages of a wave 2, a third wave with a simple common wave extension of 161.8% would place a low at 4731.93. The next normal wave 3 retracement at 261.8% would put a low at 4150. IF we are truly in a longer term major bearish cycle, 4150-4731 is a normal move here. A catalyst to get the market there could be significant unrest in the Middle East capable of not only disrupting energy supply, but shipping, manufacturing, and elevated geopolitical tensions.
S&P weekly consolidation in progress; bears prove controlLast week was marked by hectic price action in both directions. Bulls failed to set a daily low for two consecutive days (Monday-Tuesday), which logically led to a strong bearish attack. Then something peculiar happened – the price pivoted near the previous low and went up during the overnight session. The market opened with a huge gap on Wednesday, held the open, and even managed to rally further in the regular session. I can only imagine how many short traders, who had done everything right, suffered from this.
This price action also confused many long traders, including myself, by making us believe that the weekly consolidation was coming to an end. But Thursday turned the board 180 degrees again with a psychotic bearish move, wiping out more than 2% of the market value. Again, as with the bullish rally, there was no obvious trigger unless you believe that PMI data could wield such importance.
At this point, we have the following disposition:
1. The market is still in a weekly uptrend. Until sellers take down the previous major low (491), nothing changes in this regard.
2. Bears have proved strong control over the weekly timeframe. We should respect this.
3. Bears were also able to start monthly consolidation, another sign of their strength.
All in all, I wouldn’t consider any long-term “buys” until bulls manage to set a convincing weekly low, even then with caution. Shorting is an option but is very tricky in light of what happened last week.
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
Drop after Q3 peak
Everything is on the chart. The average pullback is 12.27% . In even years, the average pullback is 16.68% . The end of the line connecting the 23 March 2020 bottom and the 2023-2024 peaks at the end of Q3 is 5890. Over 10% correction is expected. There is a high probability that it could eventually turn into a crash.
Can futures predict market movements?I was wondering if futures can predict market movement. Here's a monthly chart showing two values:
* green: the difference between ES futures and SPX, divided by SPX to keep it proportional in a rising market
* orange: SPX itself
It shows:
1. Futures fluctuate over the 3-month cycle
2. SPX declines after peaks in the difference between ES futures and SPX - see 2001, 2008, 2018. Over-optimism?
3. But there was no peak before the decline in 2022 !?
4. Bulls want to see the difference well below zero - see 2003-04, 2001-17 and 2020-22
5. In 2023 the difference between ES futures and SPX is back to levels seen in 2000 and 2007, which preceded drops in SPX of around 46% and 52%
Not trading advice. Do you own research
S&P 500
The bottom is likely in, and we’re seeing a rebound. There might be one more test of the lows on lower volumes.
Currently, put options are being closed out. As a result, market makers are covering shorts, which allows the market to rebound.
There’s also a rumor about an unscheduled Fed meeting and a potential rate hike with added market liquidity. Whether this happens or not is irrelevant—just the rumor alone has led to a corresponding market reaction.
Update: VIXIts been a while but those who follow me know I posted extensively about the VIX months back and as we can see, the VIX is very much in the news lately due to its current historical spike.
It was not one of the more popular topics at the time I was talking about it but as you can see on this chart outlined here, that this is an extremely powerful resource and should be one of my most popular posts in my opinion.
The VIX was and still is highly accurate in regard to being an indicator of when to be risk on vs risk off. The levels I drew have been respected for the last few years perfectly and historically after we've seen sudden spikes, they were short lived and the index came back down to levels that were very friendly to bulls. Historically, the last time volatility was at this level, Covid Pandemic had just happened. Shortly after markets rallied 100% before finally entering a bear market TWO YEARS later.
In the coming weeks keep an eye on the VIX to see if it returns back below 15 basis points in that sweet Buy and Hold area that I have labeled on the chart.
Are We There Yet? A Market Top ExposeAfter re-calculations and re-assessing, I think I am ready to move forward. I have moved off my position that the 2022 correction was a Supercycle 2 correction and macro market top. I would be on the bandwagon the market is primed to move up indefinitely if not for the massive amounts of debt and cautious discretionary spending. I am still in the camp of prices and wages requiring a re-balance. Companies will have to lower their prices to meet customers at a more realistic price point. The companies that fail to get to that price point will go out of business.
I am settling on the side of Supercycle I ending very soon and a larger corrective Supercycle II will take hold next. I am at this position due to the location of important wave 3s in the following chart:
My wave 3 indicator at the bottom will paint a light blue background at potential wave 3s. Close gaps between painted backgrounds are common at wave 3 of 3s as is observed by the yellow line around August 2021. The strongest point on the RSI and my wave 3 indicator generally occurs at wave 3 of 3 of 3 (and more levels of 3) which occurred with the white line in January 2018. Additional wave 3 indicators occurred in late 2013 and early 2014 which were likely in the fifth wave of Cycle wave 1. Based on this premise, Cycle wave 3 likely ended in January 2022 and the October low was Cycle wave 4. This would put the market in Cycle wave 5 currently. Cycle wave 1 lasted 5-6 years, while wave 3 did the same. Cycle wave 5 does not have to last long, but there is always a chance it does something similar. Currently, we are just over a year and a half into this wave which may be too quick for it to end.
So far we can see a 5 wave structure on the weekly chart. In this 5 wave structure, wave 1 had a wave extension, likely indicating waves 3 and 5 will be shorter in length. The wave 3 indicator has a gap between painted backgrounds in March of this year indicating this was possibly wave 3 and wave 3 of 3. Wave 4 likely bottomed with the low in April. This would place us currently in wave 5. The main question is if all five of these waves are Primary waves inside of the final cycle wave or if these are Intermediate waves inside of the First Primary wave.
The pullback in consumer spending has me believing we are closer to the end of a major cycle instead of in the early stages of a multi-year bullish cycle. Additionally, even though the year over year inflation rate is no longer as high of a number, inflation has not actually declined yet as prices continue constantly go up. Furthermore, the year over year inflation rate remains higher than the year over year retail sales numbers. If things were healthy as the talking heads make it seem, retail sales rate should be higher than the rate of inflation as this would show people are spending more money than they are losing to inflation. This is not the case which is why I think a major re-balancing (and yes recession) must still occur. I could be wrong as I have been, or my inaccuracies have been delayed to this point.
In trying to identify the current wave 5, I have switched over to the SPX500USD chart to find potential wave 3s and 3 of 3s.
The major wave 3s in this fifth wave are identified by the vertical white lines. It looks like the wave extension once again resides in the first wave. Wave 3 of 3 for wave 1 was on May 7th. Wave 3 of 3 of 3 was on June 6, and wave 3 ended on June 12. If these are true, the major fourth wave likely ended at the June 14 low. This once again places us currently in the fifth wave. This is the fifth wave of a wave 5. The question remains as to how large will the next correction be. The current top on the SPX500USD chart is 5530 from June 28th, but it will likely change before week's end with potential decreases in holiday trading volume.
On the main chart, I have plotted out potential Fib levels (noted on the right side) for a fifth wave extension if Cycle wave 3 ran from the 2016 low to the January 2022 top. 123.6% of this movement is where we currently are and can be a potential major wave 5 end point. The next Fib of interest would be 138.20% which is near 5967 (indicating much more bullish activity ahead). Regardless, a downturn is likely coming soon. If it starts within the next few weeks, the bottom could occur within the next 2-3 years. If the market blows past the current top, we will likely have a few more years of upward movement followed by a 3-5 year drop thereafter. A large drop now will not be great, but the economies of the country and world could "right themselves" in a quicker manner which would be best for everyone instead of longer and more drawn out. We shall see what happens, as I have been wrong plenty of times in the past. I can keep calling for a drop and will eventually be correct, but the batting average would not even be worthy of the minor leagues.
SPX500 to continue in the downward move?US500 - 24H expiry
Traded to the lowest level in 12 weeks.
We have a 78.6% Fibonacci pullback level of 5136 from 4930 to 5680.
There is no clear indication that the downward move is coming to an end.
The sequence for trading is lower lows and highs.
We look to set shorts at our bespoke indicator level (5273).
We look to Sell at 5273 (stop at 5321)
Our profit targets will be 5150 and 5136
Resistance: 5273 / 5338 / 5404
Support: 5175 / 5136 / 5091
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SPX: Where to Expect the Price Will Land?I've identified several targets, and most of them have been reached… except one last one.
1. 100% symmetrical extension of the red box —> Reached.
2. 100% symmetrical extension of the orange box —> Reached.
3. 100% symmetrical projection from A to B , then projected from C . D = the target price —> Reached.
4. D barely served as a support. The price went through it directly without any proper pullback. Therefore, I expect the price to double the original force to reach D’ .
- Be aware that in this final stage, price movements can become unpredictable and illogical. Finding a meaningful stop loss can be difficult, and if you do, it’s usually broad and uncertain.
- Thus, if you have a short position, hold it tightly towards the ultimate goal of D’ . At the same time, set up a solid defense line to protect your profits.
- Personally, I’ll set my stop loss at D , the original target price and the previous high. If the price takes out the current low and forms another lower high, I’ll move my stop loss to the new lower high.
Not Financial Advice
The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.