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Sandp500

S&P 500 Index: SPX - The Trump Roller-Coaster Ride in 2dS&P 500 Index SPX The Trump Rollercoaster Ride in 2d - The post-Trump rally in the S&P has been a text-book affair, with 4 clear phases and speeds, like a car going through the gears. First gear is the lower parallel with a direct hit on the day after the election in November 2016. It rallies and then drops in gear/speed, the technical equivalent of double-de- clutching, in a rising continuation pattern, which goes on all through the following summer. Then in mid-November, a year after the paradigm shift, it picks up speed and slams into 3rd. And then right on the turn of the new year 2018 it takes off vertically, a final straight-line ascent with another perfect speed/trend/dynamic support line running right under the lows. It is about as technically perfect as you can find (outside of Bitcoin, of course). The great 37% Trump rally then ends with a complete break/fracture as the SPY gaps down from the support line (exit all longs!) and then dances in thin air (think:Wile.E Coyote, green arrow) for a little while and then collapses and creates another gap - thereby creating an island reversal at the top - one of the most rare and powerful and reliable reversal signals of all in a major market index. (Bulkowski does not differentiate much between indices and individual stocks in this respect which is a shame as both behave quite differently. Island reversals are rare at both tops and bottoms in major market indices, usually). Whatever, the result was spectacular. A week of mayhem took the index crashing back to the lowest 2 parallels' intersection /gears 1 and 2 again - before rebounding. It finished last week right under an important near term resistance line at 2690 and which extends to 2701 on this chart - this index is still in danger of further correction whilst below here. I has to move above 2702 and hold up there through the opening 30 minutes - if it can manage this the bulls are likley to push it on tup to 2714 to begin with and then after a little while consolidating on up to 2748. Two near term potential long trade set-ups. Returning to the downside, the S&P is still vulnerable to further correction whilst unable to break and hold above 2701-4 on SPY - even if it can manage to rally and hold above 2704 it's unlikely to get much higher than the 2749-2755 range before falling away again so will not be pushing it here even if we see upside trades trigger. It really looks like it needs to come back and retest the lower parallels again in the 2555-2550 range before it can really hope to stabilise. At all costs the lows at 2539-2530 must hold up this week on any retest. And if we do see this retest unfold at any point will be looking to buy here so long as it starts to hold and fight in this range for 5 minutes or more but still ready to reverse this tentative/speculative long shot if triggered by the price action needed. Because if not and it breaks lower than 2530 it will open a good shorting opportunity back to 2488 at least and maybe 2416-2400 range at lowest before the next great rally commences. An interesting week lies ahead for the S&P and by extension the savings/retirement accounts of pretty much everyone in the world. Really want to be wrong on this one. But it just doesn't look safe whilst stuck under 2700.
SP:SPXShort
by sumastardon
S&P 500 Index: SPX Longer Term Gann Cycles - Cycle High and Low SandP 500 Index Longer Term Gann Time Cycles Probably the greatest trader who ever lived, WD Gann , taught us to measure time cycles - from high to low and low to high as well as high to high and low to low - and look for potential changes in trend as these hiddden cycles tend to repeat themselves down through time. Previous cycle highs identified the exact date of the high in 2007 as well as the subsequent high reached in April 2015 just at the point that markets began a 10 month 20+% correction (for more details please PM) . This current cycle marks the period from 20.03.00 high (as Internet v1 peaked) through to the next major cycle low on 06.03.09. From major cycle high to low is 9 years, almost exactly...which now brings us, after a 9 year long bull run, to the coming 23 to 27 days, culminating in the anniversary dates between 3rd march and 10th March 2018... So if the lows of last week are broken on Monday we can most likely expect the decline to last for the next 23 to 27 days, culminating in a major cycle low between 3rd and 10th March 2018. Major markets have a challenging 23 to 27 days ahead of them. Time is piling up. If the SandP breaks below 2525 and holds below here by Monday's close we can expect further pressure on markets until we reach the anniversary dates. It will be interesting to see if Gann's great cycles remain as accurate now as they have done in the past. As always, time itself will tell us that answer. In fact Monday will.
SP:SPX
by sumastardon
1
S&P 500 Index SPX Next Buy and Sell Points TodayS&P 500 Index SPX Next Buy and Sell Points Today A poor call on this index yesterday led to the loss of some 12 -15 points as the buy point at 2627 was broken and the stop at 2614 triggered. It wiped out the 6 point win earlier but at least the 60 point win on the short on Moday and the next 60 points or so from the long on Tuesday means the point tally for the week is still positive, if a little depleted. Yesterday's price action has driven the S&P to a new closing low, taking it back to fill the little gap that shows on this chart at 2584. A 10% move from the top = 2585, the low yesterday was 2580. So long as this low holds out today on any retest this corrrection remains a standard deviation - but the low at 2580 must stick now for the medium term trend to stay positive from here - any fall below 2580 by more than 4 points will tip this index back into bear territory and force it lower to 2543 (first short) and then if this level breaks to 2488 (second short). On the upside, whilst stuck within the range and below 2619 it's not giving a strong enough signal to trigger a trade...it has to break above here and hold there to trigger a rally to 2668 which should be worth following with stops just under 2600. Alternatively can be bought at 2607 current levels with stops below 2600 and added to once 2619 is broken above. This is higher risk but also higher reward. Others will prefer to wait for next signal to trigger before entering positions.
SP:SPX
by sumastardon
1
S&P 500 Index Buy Set Up off Swing LowsS&P 500 Potential Buy Set-Ups Clear continuation pattern as it rinses out every stale bull who jumped in at the first big impulse wave upwards and on the wrong side of this now...should make a sweet double bottom or close to - the first long is a speccy buy with stop either under today'slow at 2615 or at lowest under that last low to left of chart at 2590 - and it's another buy/add on breaking of the upper parallel. So long as this holds at the lows today it will rally back to the highs and beyond - a 10% rise...this would just be the start and we can potentially get in close to the swing low of a major and very rarely occurring dip - last one was 2 years ago precisely.
SP:SPXLong
by sumastardon
1
S&P 500 Index: SPX Next Buy and Sell Points TodayS&P 500 Index Update Next buy and Sell Points Yesterday the S&P fell 5 points shy of the next target, busting out the next long as support and stops just under the 2715 break line were hit and so turning a 12 point profit into a 2 or 3 point loss. Not so good. It looks as if it will fall further now to retest 2669 and maybe spike as low as 2661 level but should bounce from there at lowest if it is to show stabilty today. if wrong and this 2661 level fails to hold up later it will likely fall away further to 2626-2600 range where it becomes a buy again with stops below 2590. So far this decline remains a standard correction or deviation of 10% - 10% off the top = 2584, the low was 2592 - and it can at worst fall 11% to 2555 but no lower if this is to remain a 'standard' correction. Should this level fail at any point this week it will tip this index into serious bear territory - the decline will then likely extend to 2584, then to 2545 and then to 2488 where would look to buy once more if this kind of price action unfolds from here. Don't think it will so far, but we still need a plan B here, just in case.
SP:SPX
by sumastardon
S&P 500 Index SPX Next Buy Points From HereS&P 500 Index - Update Next Buy Points A fantastic clean break gave an entry at 2635 and showing about a 60 point profit so far to add to the massive short on this index right down to the lows on Monday. So far this has been the most profitable week for shorts and then longs on the major indexes for over 2 years. We've had the easy part, now it gets a little more difficult again... It's now probing resistance at 2700 and can come back to 2668 before rallying again. So can close down the long or alternatively place a stop close under it to trap in profits if it does come off more from here first before the next rally kicks in. On the upside there is resistance potential stretching from 2700 up to 2715 - it has to penetrate and hold 2715 to trigger the next long which should take it to 2732 to begin with and then after consolidating to 2762 and close to the upper rising parallel where will look to take profits again if touched. On downside, if it comes off from here back to 2669-2660 line will look to buy here with stops below 2260. Any break below 2260 will signal a retest of the lows - and if we see this will look to buy again from there. Otherwise can run this long but with stop quite tight under price from here to trap in profit if it does fall away to 2669 first.
SP:SPXLong
by sumastardon
S&P 500As per the long term chart of S&P 500 www.tradingview.com Below are my review points 1. MACD shows overbought character , which also reflects in price and volume 2. From last two years there was a steady uptrend with few corrections 3. As per my Analysis s&p will hit 3000 mark end of march 4. We can still rely on technical analysis , as there are no fundamental news coming in . 5. In the last few days price dropped more than 100 dollars , which i see a major correction , as price was increasing exponentially in last few weeks and people made shit load of money 6. Those who are still betting on their long positions might do panic sell and bear losses 7. Price might drop further more and can hit support level 2600 in another week's time 8. Good entry would be 2600 or earlier if we see any uptrend move 9. I am relying on MACD to become neutral Please invest on your own risk Idea : Sell( short term ) : Buy ( Long term )
SP:SPXLong
by ChiranjeevChhabra
Opportunity to short S&P 500Every one on the Street talks about incoming crisis and 5%+ downtrend for main US indexes. I suppose every trader should use such opportunities and open corresponding short positions. What we have for S&P today? 2017 and January 2018 made it extremely overbought - RSI was on 86, the last time we saw these levels during 1980 rise, and it was followed by 21% correction. Bad news from Apple (3.5% of the whole S&P) and unjustified tax expectations made the trend line breakout, with a wide gap. RSI has approved the signal by breaking through 70 (the most reliable RSI signal). Combing these factors all together I see a safe trade opportunity and open a short position. The best tactic for TPs is to close step by step. I am going to do it in three steps, as I show on the graph. I also put my SL very closely, because we still have a bull market, and I don't want to take additional, very possible risks.
SP:SPXShort
by ArtKon