The SPX500USD is currently in a favorable buying zone at 5048. Traders are eyeing potential profits at multiple levels: 5077.2, 5102.1, and 5118.8. These take-profit targets indicate strategic points where traders anticipate the price to reach, capitalizing on potential market movements. Additionally, a stop-loss order is set at 5019.1, serving as a precautionary...
The SPX has rallied approximately 3.5% since its lows on 19th April 2024 and well into the two-day FOMC meeting that kicks off today. In line with general market expectations, we do not anticipate any change to the central bank’s monetary policy, and just like on previous occasions, we expect Jerome Powell to reiterate the FED’s commitment to fighting inflation...
Rally was short and sweet. Got 0.50. Fibo. Meta cracked it. Was fading all day already after the morning pump; just three up days.
C legs typically extend farther and give a 1.62 extension, capitulation and panic prevail.
May will be Bearish, at least to start, imo. Need to watch this correction carefully to gauge whether it takes ABC form or a more sinister...
This is a short-term outlook on the S&P500 (SPX) following yesterday's Fed Rate Decision. The short-term pattern on the 4H time-frame is a Channel Up and is giving us some important developments.
Even though yesterday's attempt to stay above the 4H MA50 (blue trend-line) failed, the index managed to stay on the Channel Up bottom (Higher Lows trend-line) and is...
Yesterday's FOMC meeting concluded with a decision to keep the monetary policy unchanged, leaving the federal funds rate at 5.25% to 5.5%. During the subsequent press conference, Jerome Powell outlined the solid state of the economy alongside heightened inflationary pressures. Notably, he disclosed plans to commence with the reduction in quantitative tightening...
On the above 4-day chart price action has corrected 10% from the 4600 summer high to find support on the Golden ratio. A remarkable moment now exists to have long exposure. Why?
1) RSI and price action resistance breakouts.
2) Support on 2022 resistance. What a signal!
3) The Cup and Handle pattern confirmation is textbook. The handle breakout follows strong...
Money flow and AD basing with price action. In fact, I see an ascending triangle to 5254 min, fomo pushes it closer to 5300. There will monitor for a cup/handle completion. It's a flag breakout if AD breaks out from red line at bottom, which is a previous resistances sell off level.. this a 4hr chart, so expect lots of volatility this week..
Today we woke up with a SP Futures Market down on Fed day. The previous days the market was trading in a narrow range, yesterday we saw it crashing down anticipating the Fed day today, and this morning it took another dent until the level reached what we can see in the chart, a touch over the 100 ma support. Keep in mind that after hitting the ATH recently, it...
Everywhere I look I'm seeing talk of a "new bull market"
But I don't think this is a new bull market
I think we are getting a visit from a distant relative: Ole' Cousin Bear Market Rally
Why do I think this?
Well, typical of "family", the members within share common attributes
In the next post we will talk about what some of those common attributes are in detail
Previous week was the one where the S & P 500 performed in an excellent manner, increasing its index value by 2.7%. The three-week losing track was finally broken, and the index ended the week at level of 5.124. For one more time, tech companies were the ones that were driving the market to the upside, especially after strong earnings from Microsoft and Alphabet....
We recently saw the AMEX:SPY index falling very fast and aggressively to the correction territory. The level found support around the 4950s. After all the events like Earnings, one day down, the other day up, and both very aggressive, plus the Fed meeting, also with a wild rollercoaster. At the end of the day the index found support above the 4950. Which is good...
SPX500
As we looked at, this wedge shaped fractal looked very weak as soon as it started to grind upward from the second bounce.
Now it has slumped down below the lower wedge trendline and that is quite a bearish look down there.
From here there will be a lot of resistance above and its now unlikely that it can reach the upper trendline again without first...
Please, check our technical outlook for SPX500USD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 5078.5.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price...
Here is our detailed technical review for SPX500.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 5052.7.
Taking into consideration the structure & trend analysis, I believe that the market will reach 5149.4 level soon.
P.S
The term oversold refers to a...
SPX500 went down sharply
And the SPX is locally oversold
So as we are already seeing a
Bullish rebound from the
Horizontal support level of 5015
A further move up is to be expected !
This very rare event only happened 3 previous times in 140 years!
Bookmark this chart, as it's one of the most important macro cycle chart out there.
#Spx priced in #Gold's 7 year rate of change giving a very clear indication that a precious metals bull era can embark.
Oh man!
