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Sandp500

SHORT S&P approaching resistance, potential drop!S&P is approaching our first resistance at 2797.60 (horizontal overlap resistance, 76.4% Fibonacci retracement , 100% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 2631.22 (38.2% Fibonacci retracement , Horizontal swing low support) Stochastic (34,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
SP:SPXShort
by FlowState
End of Wave 3 on the S&P 500Well, I kept hearing about the "end of the cycle" as made famous by Ray Dalio, so I decided to do some measuring on the good old S&P. Could we have hit the top of the market? In measuring the fib targets, I decided to start Wave 1 at the lows of the 1987 crash. That seems to make sense as it's the beginning of the "information age". Also, each Primary Wave would then be approximately the same amount of time. Wave 1 being 1987-1999 with an ABC correction of 9 years. Wave 3 being from 2009 - 2018. We've had 10+ years of beautiful "buy all the dips" Wave 3. What's fascinating is our recent high is very close to the 1.618 projection of Wave 1. If you know anything about Elliot Waves, you'll recognize that 1.618 is a prime target for the end of Wave 3. We hit it almost right on the button. So what's next? I feel we will have a very sharp correction to the 2000 level. That's where major support is structurally and psychologically, and that's also where the .382 fib is - so that seems like a good target. Any lower and we could be looking at the .5 fib (1800 level) but that would be especially deep for a Wave 4. I think this correction will be bloody but also fairly quick since the first ABC took many years (rule of alternation). Geometrically, it seems that 2021 is a logical time for it to end (after the election makes sense). Luckily, according to this count we will have more upside to Wave 5, so I don't think it will be necessary to buy a bunker just yet. However, I would be careful to swim with the tide which will probably be going downstream for the foreseeable future. Best of luck and Happy Thanksgiving
SP:SPXShort
by the_sunship
Balanced View of SPX 500I think this rally has surprised everybody, this outlook show a symmetrical balanced view of what could take place in the coming weeks, there is harmony amongst the madness perhaps! I am expecting a rejection around 2750 this is the 200 DMA moving average on the daily chart and correlates with a trendline resistance 'highlighted'....The trigger for the short could be NFP data tomorrow at 8.30ET/ 1.30pm GMT...I will then be looking for an inverted double bottom to balance the chart ...and then retest previous highs in the spring.......take care folks.......
SP:SPXShort
by Trendhopper
S&P 500 at RSI and trend line resistance $SPYBearish divergence on the RSI in 2018 signaled that a correction was due. The S&P 500 ultimately topped out on trendline resistance first established at the peak of 2000. Interestingly the market broke through the uptrend resistance set between the peak of 2007 and January of 2018. That trendline became support until recently. Bearish signs: The S&P now finds itself at resistance on the RSI. It is still below the 200-day EMA. It has not broken above trendline resistance. It may have just formed a double top on the daily chart as it reached the center of the pitchfork. MTF momentum is still not in the green when comparing the weekly to the daily chart. Bullish signs: The RSI is above 50 on the daily. The S&P is above the 50-day EMA. 14% move off a V bottom is bullish for sure. The fundamental picture is still very uncertain, Europe is slowing down as is China. The trade war has put a damper on the confidence of business leaders around the world. On the other hand, all of this may be mitigated by the actions of central bankers.
SP:SPX
by blloyd
Powell and trade war truce may shorten correction $ERX $TQQQAs described in my previous note on the S&P 500, there have been two major market corrections since the end of the Great Recession. They were periods of high volatility and a lot of repricing of stocks for 140 days or more. In both cases they started with: 1. A complete reset of the daily RSI ( Relative Strength Index below 20) 2. The S&P 500 holds below the 200 day MA 3. The 50bar EMA passes below the 100bar EMA They end when: 1. The S&P 500 0.54% holds above the 200 day MA 2. The daily RSI holds above 50 3. The 50bar EMA passes above the 100bar EMA The daily RSI is currently above the trend-line and above 50. The S&P 500 today will open above the 200 day MA and the 50 day EMA should cross above the 100 day EMA within three weeks assuming this new trend continues through Christmas. When I recently posted on this topic I said "Consumer confidence is high but the only way for this ship to turn around quick is for the Fed to change strategy, that will not happen." It now looks like it may happen. Additionally, Trump and Xi struck a 90 day trade war truce. Tech and energy sectors are the most beat up in recent weeks, all of these developments are bullish for these two sectors. Trade opportunities should present them selves in TQQQ and ERX .
SP:SPXLong
by blloyd
2
SandP500- strictly technicalOk, try to stay with me here.... If we look at SandP in plain old Elliot wave, I see 2 possibilities.... Either all hell breaks loose and it just drops to the 23-38% fib levels and into a wave 4 correction, OR... it will rally again in the form of an ending diagonal considering we should be on wave 5 of a larger degree wave 3. What I find interesting is that if I slide the fib retrace from the high it just made up to the up to the 1.618 extension (white line, typical for a wave 3), the 23% fib retrace slides up and lines up perfectly with the trend fibonacci from beginning of time through the wave patterns (it should anyway, 1.236 extension). The 3000 level should be of some significance also. If you look at past market declines, you can see some higher time frame candlestick action occurring beforehand. It can break the fork and make some kind of smaller flat pattern also before continuing up. I just feel like Donald Trump has been well aware of the math of the market and does not want to be known as a President who had a market crash, considering his wallet and ego.
SP:SPX
by thillygoosth
Pretty confident we are entering a bear marketHello all, I have been saying the US stock market is going to crash for about a year now, and well, it looks like I might be right. The significance of my moving averages is due to the fact that they represent 1 year, half a year, and a quarter of a year. You'll notice the year held in the last dip, but has not this time. This is a bearish signal. In addition to this, we are entering into muddy trade waters as per Trump and interest rates are high. I would strongly suggest not being in the SPX or any large US index right now. We might face a serious deleveraging/depression. I am ready to leave the country if need be. Hope we all survive :) Godspeed. -YoungShkreli
SP:SPXShort
by CantorTechnologies
10