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S&P500 Inflation below 3% 1st time since 2021! Must the FED cut?The U.S. Consumer Price Index (CPI) was reported today below 3% for the first time since April 13 2021! This means that Inflation (red trend-line) is getting closer to the Fed's desired benchmark, coming in contrast with the fears of an economic slowdown last week. On today's S&P500 (SPX) analysis we examine the effect of an Inflation drop on the market. As you can see, the sudden drop on the Inflation Rate in mid-2022 was followed by a sideways trend in the past year (since July 2023). This is not the first time we see such consolidation after a strong decline. In fact, the most similar pattern to today's is the post August 2012 consolidation on Inflation. The similarities don't stop there. As this chart is our well-known 'S&P500 +10 year Cheatsheet' which we have published in the past and updated numerous times, we can see that the index has most likely entered the 2nd phase (green Rectangle) of its cyclical expansion (Channel Up), that tends to lead to a cooling Bear Phase in the form of a Megaphone. The current 1W RSI pattern is also similar to post 2013. As a result, we expect the index to resume the uptrend and even hit 6900 at least as it will be a +95.84% rise (similar to 2011 - 2014). Regarding the Fed, and whether or not they should cut the interest rates in September, we believe that this will be welcomed, especially on a 1 year basis, as it will stimulate the economy with inflation getting as close to the Fed's target as possible. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:SPXLong
by TradingShot
10
Elliott Wave Intraday Analysis: SPX Resumed the RallyShort Term Elliott Wave View in SPX suggests the trend should continue higher within the sequence started from March 2023 low as the part of daily sequence. It favors upside in wave ((5)) while dips remain above 5124.76 low. Since March 2024 high of (3), it starts a correction as wave (4) ending in April at 4953.56 low and bounced again. The market resumed the rally building an impulse as wave (5) ended at 5669.67 high and also wave ((3)) in higher degree. SPX begins a large retracement in July 16 high. Down from wave ((3)), the index dropped developing a double correction structure. First leg lower, built a zig zag correction to complete a wave (W) at 5390.95 low. Then, the market did a flat structure higher as wave (X) ended at 5566.16 high. The index resumed to the downside forming another zig zag as wave (Y) of ((4)). The cycle was completed at 5119.26 low and also wave ((4)). Actually, SPX has continued higher trading in wave (1) of ((5)). The wave 1 of (1) ended at 5330.64 high and wave 2 of (1) finished at 5195.54 low. The wave 3 of (1) started and we are expecting more upside. While price action stays above 5119.26 low, we are calling for more upside to continue the rally as wave ((5)).
SP:SPX
by Elliottwave-Forecast
2
The Rip you Short? or the last Dip to buy?Last week's decline DID NOT BREACH THE APRIL LOWS . To be 100% objective, as long as price is above the April lows, we still retain the ability to make one more high. That is the purple arrow on the above chart. Price will need to breach 5587 in pretty much a straight shot now, as this would be a wave 3. However, that is not my primary analysis. My primary analysis is the ES Futures market is in the final stages of it's minute circle b-wave. that should complete in the target box on the chart. From there, price should be declining in minute circle c-of Minor A. In the ES that should be in the area of the April lows, or slightly below 5,000. Best to all, Chris
CME_MINI:ES1!
by maikisch
NVDIA BULLS! DON'T FART TOO LOUDLY. IT'S TOO STUFFYhe AI boom is reaching the sort of lofty heights that characterised history’s great bubbles, from the Dutch tulip mania to the dotcom bust at the turn of the millennium. Investors have now determined that Nvidia alone is worth more than the entire annual output of Spain. Add in the tech companies expected to profit most from the AI revolution — Nvidia along with Amazon, Apple, Alphabet, Meta, Tesla, and Microsoft — and the so-called Magnificent Seven are together valued at more than the stock markets of every other country on the planet. The American stock market’s spectacular performance over the last year, up more than a fifth, has been driven almost entirely by these seven companies. We’ve been here before, many times. New technologies often produce bubbles — railways in the 19th century, automobiles and radios in the 1920s, the internet in the 1990s and now the AI boom, which was triggered by Open AI’s launch of ChatGPT late in 2022. Driving any bubble is the same conviction that the new technology will revolutionise the economy, combined with the fact that nobody can be sure just how it will do that. So narratives of transformation become self-sustaining, as the stock’s rise draws in ever more investors eager to join the ride, creating a self-propelling upward cycle. In time, all bubbles burst, earlier or later.
NASDAQ:NVDA
by Pandorra
fakeout into a shakeoutgood eve' over the last 4 weeks the es1! has seen a bit of a shakeout which has scared a lot of people out of the market. whenever these things happen, i always wonder what it is that they're afraid of? --- the es1! completed 5 waves up on a weekly timeframe from the 2023 low which we predicted, to the 2024 top which we did not pinpoint this time around. i'm predicting we sweep the high 1-2 more times into the fed pivot, before dropping very aggressively into the presidential election. --- if all goes well, the timeline will look like this: > we pop to sweep the high into the "fed pivot" > we drop -20% into the presidential election. > the presidential election turns out to be favorable for the market: > next bull run begins. --- i'm not your financial advisor, in fact - i'm not telling you to be a buyer nor a seller. just sharing my interpretation of the chart in front of me. do with this information what you will. 🌙
CME_MINI:ES1!
by notoriousbids
2
NASDAQ-100. A POTENTIAL SYMMETRY PERHAPS IS THE NEXT BIG THINGPolicymakers at the U.S. central bank on Wednesday held interest rates steady, although Fed Chair Jerome Powell gave investors some hope by signaling a September rate cut could be on the table. A Day later stocks heavily sold off Thursday (again), with the Dow Jones Industrial Average (DJIA) tumbling nearly 500 points, as investors’ fears over a recession surfaced. Some fresh data stoked fears over a possible recession and the notion that the Federal Reserve could be too late to start cutting interest rates. Initial jobless claims rose the most since August 2023. And the ISM manufacturing index, a barometer of factory activity in the U.S., came in at 46.8%, worse than expected and a signal of economic contraction. After these releases, the 10-year Treasury yield dropped below 4% for the first time since February. These weak data releases come a day after central bank policymakers chose to keep rates at the highest levels in two decades, when Fed Chair Jerome Powell gave investors some hope by signaling a September rate cut could be on the table. Labor situations is on the radars also, as fresh unemployment data expected on Friday, August 2. The Federal Reserve risks further weakening the US economy and tanking US stock markets. As the unemployment rate has risen in recent months, it has fueled speculation that the strong labor market is cracking and pointing to potential trouble ahead, with full-time employment in the US declining by about 1.23 million jobs over the past 12 months, and part-time employment adding about 1.52 million jobs (May'24 data). While much of the attention of financial analysts in June and July 2024 was focused on the Fed's rhetoric, inflation and manufacturing statistics, the US unemployment rate, which is recovering from its 55-year lows, is much greater thing. In technical terms, June'24 will be the 4th month in a row, US unemployment rate is above its 26-week (6-month) simple moving average. Historical backtest analysis of the entire history of data since the end of World War II indicates that the onset of a recession in the United States is just around the corner. In any case, such labor market symptoms have always, in all cases without exception, signaled either an already occurring or an imminent US recession. The main graph (Nasdaq-100 Futures cont. contract) indicates on a potential symmetry for further bearish development. with the nearest target roughly S14'000 mark (that is corresponding also to 5-years SMA).
CME_MINI:NQ1!
by Pandorra
Full ES/SPX Trading Plan For Monday Aug 12thPlan for Monday: Supports are: 5363 (major), 5351, 5337-42 (major), 5324 (major), 5312-10 (major), 5302, 5288, 5273 (major), 5260, 5247-50 (major The key focus now is that ES has finally cleared the critical 5338-42 support, but it needs to hold this level to avoid a move back down. The first target below from here is 5363. Since this level has already been extensively tested friday and is too close to the highs, it’s not appealing for a long position, but flushes and reclaims remain possible. Below there is 5338-42 yet again. This area has been heavily tested and remains a significant trap zone, which likely won’t change soon. While it’s possible to buy directly at this level, it requires quick, agile trading. I’d rather see a setup similar to what I played multiple Friday today: a dip down to 5324 followed by a recovery. However, I’ll stay flexible and ready to react in this zone in real time, with volume. Below 5324, the 5312 level comes into play. I'm open to a small bid in this area. If you're unsure, you can wait for a potential failed breakdown of Friday's low before entering. If this zone doesn't hold, selling momentum could pick up again, so I'd be cautious with buying any supports. Areas of interest might then be 5250 and 5186-91. For Monday, I view the entire range between 5324 and 5372-78 as a potential new consolidation zone, playground for traders. Resistances are: 5372, 5378 (major), 5388, 5393, 5400 (major), 5414 (major), 5424, 5432, 5438-40 (major), 5450 (major). If the squeeze resumes on Monday, next spot for those who want to try shorts would be 5438-40 in terms of higher confidence areas. 5414 is another. Buyers case: After two days of relentless rallying, a correction on Monday wouldn’t be surprising. For buyers, it’s crucial that the discussed supports hold, with 5312 as the lowest level they want to see. Dropping below that increases the likelihood of another leg down. The 5338-42 zone, which served as major resistance throughout the week, is now support. Ideally, on Monday, ES could consolidate between 5372-78 and 5338-42. From there, the next leg up could target 5400, 5424, and then 5438-40. In terms of spots to add on strength, this is tough to provide when we close at the lows but I’d generally see flagging below Fridays high, and above 5338-42 as being bullish (especially if we flush 5362 and recover). Sellers case: This setup begins with the failure of 5312. As I mention frequently, these types of trades come with a strong disclaimer. Trades below support levels, known as breakdown trades, carry inherent risks. My main edge lies in trading failed breakdowns because most breakdowns (about 80%) tend to trap traders. Even when executed skillfully, breakdown trades have a low win rate, with over 60% expected to fail. However, the risk/reward ratio is high—two or three trades might fail, but the fourth could yield significant returns. If you’re uncomfortable with these odds or the possibility of getting trapped, it’s best to avoid these trades. Breakdown trades are advanced setups, so if you’re a newer trader here, there’s no harm in passing on them. As always, I avoid chasing the market. I’d want to see a bounce or a failed breakdown around 5310-12 first. Once this plays out and there’s clear evidence of weak demand in that zone, I’d consider shorting around 5302 or slightly higher if a clear structure forms from the bounce that I can short beneath. In general, my lean for Monday is that 5324 to 5372-78 is now a new consolidation zone, with 5338-42 being s mid-pivot. As long as we continue consolidating in this zone and really above 5338-42, buyers can just continue to work higher to 5400, 5414, then 5438-42. If 5324 fails, it’s a warning shot for buyers, with 5312 fail triggering short back down the levels.
CME_MINI:ES1!
by ESMorg
Plan For Friday SessionPlan for Friday: supports are 5343, 5338 (major), 5328, 5322, 5308-10 (major), 5306, 5298 (major), 5278 (major), 5268 (major). Yall should know what I’m going to say here. We had a monster rally today, 160 points. My absolute least favorite time to trader is after a big trend day. Longs are risky - chasing with no pullback after this large of a rally is non sense. Shorts are risky - we are in a squeeze. And the odds of complex, messy chop are high. As a result, tomorrow is capital preservation Friday for me, and I’ll just be taking it light, protecting what I have from this week. From here, 5338-42 is first down. This has been the brick wall resistance all week, and now, for the first time, we are closing above it and its now support. A possible entry could be something like if we test 5328 and recover the zone. Below there, we flush down the levels again, and this may be a sort of macro failed breakout. If so, that means all longs will be very risk and should be done with small size. 5308-10 is first support down. If we are knifing down, one could try it micro sized, or better yet, wait for it to flush and reclaim. Use common sense. Below there we knife down the levels. 5268 would be one spot of interest to watch for a bounce, and if we test it then recover 5280 it is even better. Below there we probably flush down to 5228-33 again, reaction zone, then down to 5186-91, which I would be willing to try one final small long at before we start the next macro leg lower into the 4900s. Resistances are: 5351 (major), 5362, 5372, 5378 (major), 5388, 5394, 5398 (major), 5409, 5414-16 (major), 5427, 5433, 5439 (major). I am currently long and I won’t be flipping short tomorrow on strength. For those who are looking for spots to try reaction shorts though, 5378 would be one zone, then 5438 would be another. Either could provoke sells. Buyers case: Bulls did some good work today, holding 5186-91 major support, then recovering the 5338-42 area. We are only a few points above now so its still chance for a trap - we need to take it level to level. Generally though, we remain in a recovery leg since Monday, as long as above that 5186-91 level. Buyers want to defend 5338-42 level now (or if it does fail, quickly flush to something like 5328 and reclaim), and begin working up towards the next major backtest magnet which is now 5438. There are big resistances en route like 5378 any of which can end the leg. I normally give spots to add on strength, but I cannot do so here when are at the highs of day. I can only say that I would see any overnight flagging above 5338-42 and below todays high as being bullish, and favoring continuation. Sellers case: the real sellers case begins on the fail of 5186-91. Obviously 5186-91 is very far away now, so in order to short there I obviously would not just be blindly shorting below. I’d need to see a strong reaction there or failed breakdown and good final bounce, then I’d consider short 5180ish. On a shorter-term basis, 5269 is also a level I’d consider a breakdown short of. Same drill - I need to see a bounce there and/or failed breakdown first. On the shortest term basis, 5308-10 failure likely provides a good level to level short. Same drill, I need evidence the zone is used up (this zone is already fairly well tested). After this, I’d look short 5304. In general, Today I was looking for a rally to 5338-42, and we got there and beyond. Post-rally trading is the worst trading, so I will be in capital preservation mode tomorrow. My general lean though is to respect the 5338-42 late day breakout. As long as it holds, we can work up to 5378 next. Decision point there - and if bulls can push through, we likely head all the way to 5414, 5438. If 5338-42 fails, ES has to do more work on the downside as per the above plan.
CME_MINI:ES1!
by ESMorg
S&P500 crashing. Will it benefit from a September RATE CUT??The S&P500 index (SPX, illustrated by the blue trend-line) has been under heavy selling pressure in the past 3 weeks and a September Fed Rate Cut is already priced at 95%. But will the index benefit from such action? A detailed look into the past 35 years of recorded Yield Curve (US10Y-US02Y) price action, shows that when it flattens and rebounds, the Fed steps in and cuts the interest rates (orange trend-line). As you see on that 1M chart though, this hasn't always been beneficial for stocks as especially for September 2007 and January 2001, it took place parallel to the Housing and Dotcom Crises. The Inflation Rate (black trend-line) however seems to be at a low level that is consistent with market bottoms and not tops. As a result, it appears that it is more likely we are in a curve reversal that is consistent with bull trend continuation for the stock market, after short-term corrections, in our opinion either post June 2019 (ignore the COVID crash, which is a once in 100 years non-technical event) or pre-2000. So to answer the original question, we believe there are more probabilities that a September rate cut will do more good to the stock market than harm. Just as a side-note, based on this chart, our sentiment is that the current AI-led rally will be similar to the internet rally of the mid-90s that eventually led to the Dotcom crash of 2000. Your thoughts? ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:SPX
by TradingShot
2
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.
EIGHTCAP:SPX500Short
by Osmanomics
1