Indices
S&P500 Long setupTraders,
The S&P500 has been 9 days without testing support and saw All Time-Highs. Today, the daily chart has presented a high probability of resuming the trend after a sharp correction.
I already have an existing long that has done well but I'm adding into the position for this setup for icing on the cake.
New:
Long S&P 500 SPY
target 4848.00
Stop 4695
S&P 500 Daily Chart Analysis For Week of Dec 22, 2023Technical Analysis and Outlook:
The S&P 500 index exhibited continued strength by rising above our Completed Inner Index Rally 4713 with the violent retreat on Wednesday to this strategic price level. The main target is our central Key Res 4800 and Outer Index Rally 4807, completed on June 4th, 2022. However, some concerns about a market squeeze from the newly created Mean Res 4769 might cause a pullback to Mean Sup 4700. This level of support is considered a strong support level for the index and can allow traders and investors to make a suitable entry decision.
NASDAQ Potential Continuation to upsidesHey Traders, in the coming week we are monitoring NAS100 for a buying opportunity around 16500 zone, NASDAQ is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 16500 support and resistance area.
Trade safe, Joe.
S&P500: Holding the 4H MA50. Still bullish.The S&P500 index is now on a healthy green 1D technical outlook (RSI = 65.835, MACD = 82.010, ADX = 81.214) following a much needed technical pullback yesterday that eased the previously overbought technical indicators. On the 4H timeframe, the index is still inside a two month Channel Up, which found support yesterday on the 4H MA50. As long as it holds, we will stay buyers until the end of the year, aiming at its top (TP = 4,850).
If the price crossed under the 4H MA50, we will short aiming at the 4H MA100. If that is crossed as well, we will target the 4H MA200, which is close to the bottom of the Channel Up. It has to be said that the RSI has been inside a Channel Down, meaning that at some point, this bearish divergence will start a correction.
See how our prior idea has worked:
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NAS100 H4| Pullback support at 38.2% FiboNAS100 could fall towards a pullback support and potentially bounce off this level to rise towards our take-profit target.
Entry: 16,475.30
Why we like it:
There is a pullback support that aligns with the 38.2% Fibonacci retracement level
Stop Loss: 16,184.30
Why we like it:
There is a pullback support that aligns with the 61.8% Fibonacci retracement level
Take Profit: 16,891.90
Why we like it:
There is a swing-high resistance level
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
SPX500 H1 | Continuation of bullish momentumSPX500 is falling towards an overlap support and could potentially bounce off this level to climb higher.
Buy entry is at 4742.34 which is an overlap support.
Stop loss is at 4690.00 which is a level that aligns with the 38.2% Fibonacci retracement level and sits under a pullback support zone.
Take profit is at 4820.40 which is a swing-high resistance.
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Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
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FTSE 100 UK100 trade idea for 20/12/2023 BullishFTSE 100 UK100 trade idea for 20/12/2023
FTSE 100 is in upward channel on daily chart. It broke out of it 2 days ago but came down back inside the channel again.
Tomorrow 20th Dec a major catalyst CPI data is released an hour before the market open. This surely will bring major volatility which gives the traders a good opportunity to grab some points if traded on the correct side.
Key levels based on technical analysis for long trade:
Entry: Ideally a dip to 7626 or 7604
Targets: 7665,7685,7724,7746
Support: 7584,7545
Thanks for reading, feedback welcome.
SP500 H4 | Falling to pullback supportSP500 could fall towards a pullback support and potentially bounce off this level to rise towards our take-profit target.
Entry: 4,710.09
Why we like it:
There is a pullback support that aligns with the 23.6% Fibonacci retracement level
Stop Loss: 4,649.99
Why we like it:
There is an overlap support that sits above the 61.8% Fibonacci retracement level
Take Profit: 4,808.82
Why we like it:
There is a swing-high resistance level
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Dowjones and DXY, what correlation?In today's trading session, our primary focus is on US30, where we are actively monitoring a potential buying opportunity around the 37100 zone. Currently riding an uptrend, US30 showcases a sustained upward trajectory. Concurrently, the index is undergoing a correction phase, gradually converging towards the trend at the crucial 37100 support area. This numerical level holds significance as both a historical support point and a pivotal juncture where the correction may encounter substantial market forces.
Adding depth to our analysis, the broader consideration involves the relationship between the US Dollar Index and US30. The potential bearish sentiment in the DXY could pave the way for upside movements in US30. As the DXY weakens, it tends to enhance the attractiveness of equities, including major indices like US30. This correlation introduces an additional layer to our strategic approach, aligning our trading decisions with the ongoing uptrend in US30 and the potential influence of DXY dynamics during the correction phase. Navigating this interplay is crucial as we seek to capitalize on the identified buying opportunity within the broader context of today's trading session.
Trade safe, Joe.
DXY D1 - Short SetupDXY D1
The dollar index has drifted lower, aligning with the latest developments and insights pertaining to the battle against inflation and central bank interest rates. We witnessed a significant downward move, sliding from 104.000 to 102.000, amounting to a substantial 200-point drop. Subsequently, we are observing a modest rebound, mirroring the overarching global trends highlighted earlier.
A potential adjustment back to the 103.000 level would be a logical move for us. This would constitute a robust 50% correction, harmonising seamlessly with our established trading zone for potential short positions.
Dow Jones - Another 10.000 Points HigherHello Traders, welcome to today's analysis of Dow Jones.
I will only take a trade if all the rules of my strategy are satisfied.
Let me know in the comment section below if you have any questions.
Keep your long term vision.
Nasdaq 100 long bias NAS100 Currently filled the 4H demand zone and move upside, after that currently its creating liquidity so strong chances are there that on monday 18/12, it will create more liquidty in london session and grab the buyside liquidity fill the imbalance below and will enter the 30m demand zone which is overlappe on the 4H demand zone making it a strong buy zone and that is good 30M buy orderblock and we can target the opposite side liquidity pool as a target, market is in uptrend and trend is friend always
S&P 500 Daily Chart Analysis For Week of Dec 15, 2023Technical Analysis and Outlook:
During this week's trading session, the S&P 500 index exhibited remarkable strength, with consistent price momentum throughout. The index managed to surpass our Key Resistance level of 4639 and Inner Index Rally level of 4647, finally resting at the completion of Inner Index Rally level of 4713.
Looking ahead, the following two targets for an upward trend are the completed Outer Index Rally level of 4807 and the Key Resistance of 4800. Both price levels were created on June 4th, 2022.
However, there are some concerns about a market squeeze from the current completed Inner Index Rally 4713 that might cause a transient pullback. In such a scenario, the index could move downward and reset itself to the Mean Support level of 4644. This level is considered a strong support level for the index and can provide an opportunity for traders and investors to make a suitable entry decision.
S&P500 weak DXY and potential continuation to upsidesHey Traders, in the coming week we are monitoring US500 for a buying opportunity around 4680 zone, US500 is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 4680 support and resistance area.
Trade safe, Joe.
DAX: Channel Up keeps it bullish. Strong correction if it breaksDAX is trading inside a Channel Up pattern since October 27th and it has been intact for so long that the 1D timeframe remains overbought (RSI = 78.050, MACD = 373.200, ADX = 82.264). Since it is holding the 4H MA50 over the bottom of the Channel Up, we remain bullish aiming at a +4.66% rise (TP = 17,400), which is the lowest it has registered inside this pattern. If the price crosses under the Channel Up however, we will short aiming near the S1 level (TP = 16,000), which can test the 1D MA50.
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DOW JONES: Correction imminent. Buy at the right time.Dow Jones made new All Time High yesterday and today reached the 0.786 Fibonacci Channel level of the 14 month Channel Up pattern. Needless to say it is massively overbought on the 1D timeframe (RSI = 79.702, MACD = 696.100, ADX = 90.584). The sheer strenght of this rise since the October 27th bottom can only be compared to the first rise of the Channel in October-November 2022.
After almost reaching the 0.786 Channel Fibonacci level, it pulled back to the 0.236 horizontal Fibonacci and then moved to a +19% rise before a consolidation that made the Channel's blow off top. Consequently, we cease our buying at the moment and will wait for that short term correction to the 0.236 Fibonacci (36,160). This will be our next buy entry to target the +19% extension (TP = 38,450).
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NASDAQ Potential continuation to upsidesHey Traders, in today's trading session we are monitoring NAS100 for a buying opportunity around 16470 zone, NASDAQ is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 16470 support and resistance area.
Trade safe, Joe.
SP500 D1 | Rising toward ATHSP500 is rising towards a swing-high resistance which is an all-time-high and could potentially reverse off this level to drop lower towards our take profit target.
Entry: 4,795.57
Why we like it:
There is a swing-high resistance that sits above the 127.2% Fibonacci extension level
Stop Loss: 4,950.00
Why we like it:
There is a resistance that lies above the 161.8% Fibonacci extension level
Take Profit: 4,611.39
Why we like it:
There is a pullback support level
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Nasdaq - All Time HighsHello Traders, welcome to today's analysis of Nasdaq.
I will only take a trade if all the rules of my strategy are satisfied.
Let me know in the comment section below if you have any questions.
Keep your long term vision.
US Indices: Possible Short AreasI'm looking for a short across the US stock market. Possible market alignment on marked s/r zones. Not a bad idea to check DXY too before opening a position.
Tasi - CONSUMER SVC INDEX - Bearish Signs Show some weak signs:
1- Double top
2- Traingle after strong down move
There is no sign yet for price to go up RSI under 50 and RSI MA, if price continue down
target will be:
TP1: 200 MA
TP2: 4257 level
NASDAQ: Channel Up soon to test the ATH.Nasdaq is almost overbought again on the 1D technical outlook (RSI = 69.937, MACD = 245.100, ADX = 36.889) but that shouldn't affect it much as it is trading on the lower band of the November Channel Up. Leg 1 of the bullish sequence that made the Nov 15th HH extended to the 2.382 Fibonacci level. As the 1D RSI is identical to that Leg and shows that we are roughly halfway there, we remain bullish aiming again at the 2.382 Fib extension (TP = 16,840) which is marginally over the All Time High of 16,780.
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