S&P NEW HIGH COMING?S&P almost fully recovered the losses after BREXIT and now is looking for the next challenge,making new highs!
S&p500index
S&P TRAJECTORYI posted a similar chart earlier but I guess I'll post it again with a very minor tweak to the top trend line.
It's still going down the tubes, I think. Just a lot more gradually than I previously anticipated.
Watch your asset allocation and make informed trading decisions. :-)
SP: We are on the TOPwe arrived at the top of the climb and from next week the sales are expected to begin . The max is placed between 2168 and 2179 .
SP: We are on the TOPwe arrived at the top of the climb and from next week the sales are expected to begin . The max is placed between 2167 and 2177 .
Short S&P 500 on structural movesAfter these curves movements we tend to see structural movements at the top. I expect a move down to the support level indicated by the horizontal line.
S&P 500 (2H) @ Basic Technical Scenario (freestyle)
2136.50: all time high
2127.60: high before brexodus
2112.10: 1st high and meanwhile support after brexouds lows
2088.90: 2nd low after 1st high and meanwhile support after brexodus lows
2072.90 : intraday high (as brexit-referendum came out)
2072.90 : 1st low after 1st high and meanwhile support after brexodus lows
between 2112.10 & 2072.90 :
"trend-evidence-formation - after brexit sell-off"
above 2112.70 way open for new all-time highs @ only resistance by 2127.60
- eben highs before the rbexit-referendum came out @ friday before two weeks ...
Best regards:
Aaron
S&P 500 Potential Short IdeaS&P looks like it's developing into a broadening top.
Also at major top area currently.
Seems to be having divergence too when looking at MACD direction.
Will short if there is a H4 bearish price action.
A Clearer view of the SPXThis chart shows the S&P index weighted by the dollar index (DXY). As you can see, it gives us a much clearer picture, and allows us to find better support and resistance levels. Why is that so? One explanation is that it shows us the S&P as viewed from the eyes of the average foreign investor, or from large investment groups which have to take into account exchange rates when making investment choices.
The picture shows that even though we are currently making new highs on the nominal S&P index and hitting a long-term resistance, the true long-term ceiling is at about 40 weighted points away, so we could see a continuation of last Friday's rally next week. Moreover, we just broke an upward channel in a very bullish manner, so we could be transitioning to a new, higher channel.
However, both the MACD and the relative volatility index (RSI) are quite high, so we could see a retracement to the higher channel resistance (at about fib level 2011 on the weighted index, about 40 points lower). If the higher channel resistance is broken, we could see a further fall to the second fib level, 100 weighted points lower at from the current level.
Also, earnings season is here, and the results will very likely be disappointing, driving the index down.
If you plan to trade the S&P E-Mini in the medium-term (days, weeks), you could do the following:
1) Buy a bullish move on Monday, put a stop loss at the higher channel (2022) and sell at the long-term resistance (2089).
OR
2) Buy a bounce from the higher channel and sell at the long-term resistance.
OR
3) Sell a break on the higher channel with target at the lower channel (1949).
Oil More Downside Suggested on Weekly & May Impact MarketsOil may retest 50 week moving avg. (bottom of Kumo) or test the Ichimoku base line. Markets may respond to oil in low 40's.
Many oil experts have been claiming oil should turn around in late '16/early '17. The weekly Ichimoku seems to agree. But it also suggest more downside before end of the year.
S&P 500 Daily Balance Area BreakdownEvery time the S&P has made a Balance area at it's all time highs it has sold off hard.
We just broke the most recent balance area to the downside again.. Looking for a bear run for quite some time. I fully expect market to revisit 1850's again, just given previous patterns.
Best of Luck
S&P500 TriangleI've plotted Point D at 2087 Handle, As long as Price remains above D, We are likely to test 12.5 points higher which is the 2101 area. Once we touch the 2101, I've plotted an Open = High candle which is visible on the 2 hr chart.
Therefore, 2101 is not going to sustain where price is going to hit 2111 very quickly.
Levels to observe are longs above 2094.
And yes, we are in an uptrend
Reverse head and shoulder S&P 500The S&P500 shows a nice reversal head and shoulders formation on the chart.
The S&P is moving in an uptrend for the last days and weeks. I think this formation shows good that the trend will continue after a pullback.
The neckline of this formation is also at the 38.2 fib level of the last upside move. So I expect a short term price fall back to 2083 +/-. And then the price should go up to an area around 2115-2120.
S&P POSSIBLE INVERSE H&S ON H1S&P forming a possible inverse head and shoulders on H1, i am looking for a buy set up after neckline break and test.
S&P 500 CHANNEL TRADE IDEAS&P is in a upward channel right now after a big rally that usually signals a reversal so be ready to short it if it breaks .
SH falling broadening pattern LONG, possible AB=CDSH (short S&P500) is forming a nice falling reverse wedge pattern, also known as broadening pattern. The falling pattern is an indication that the price is likely to break out of the upper boundary. I'm personally looking for an AB=CD pattern, consolidating between 20 and 20.10, and the target at ~20.40.
SPX Bull Flag Breakout? Possible bull flag breakout targeting 2150. However, 2100-2111 resistance area is still a concerning spot to be long and should/could wait for some normal retrace. Seems like a home run for the bulls, but they are not completely out of the woods yet.
