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Snp500

Stocks Pause Below All Time HighsStocks are hugging the upper bound of the range discussed yesterday. This coincides with all time highs at 4633. The level we have identified nearby is 4629. The Kovach OBV is still very strong, but appears to have tapered. If momentum persists, we can anticipate another breakout soon, and 4649 is our next target, set by Fibonacci Extension levels. There is a vacuum zone below to the next level of support at 4580. After that, we can expect further support at 4564, 4545, and 4521. We are due for a technical correction. While it may not happen today, those last three levels could be ideas to buy back when we eventually see a correction.
FX:SPX500Long
by quantguy
1
Is the SNP500 ready for another correction?I firmly believe that we should soon see a correction deeper than the one we recently had which began at the start of September. The chart suggests that after finally breaking out of the bear wedge; which began at the start of the lows of the correction in March 2020, we are now witnessing what looks like to be a retest of that bear wedge. With the addition of negative weekly RSI divergence this should see some firm movement downwards, below the low recorded in the first week of October. Hard to see the market giving way to such a huge drop, but the market carrier Tesla is due a correction after extreme growth in the recent weeks.
TVC:SPXShort
by SkyTrees
Stocks Make New Highs!! What's Next??Stocks make new highs, despite persistent issues in the supply chain, transportation industry and protests over the vaccine mandates. The S&P 500 has broken out of the 4500's and seems to have secured the 4600's for now. We came within 5 points of our target at 4632, with the current high at 4627. We are seeing a red triangle on the KRI at this level suggesting we will face resistance here. Watch for continued momentum at open to carry the trend established in the Asia-Pacific session this morning. If it does not, we should range in the value area between 4580 and 4627. The Kovach OBV is still very strong, so the trend is likely to remain bullish.
FX:SPX500Long
by quantguy
1
Stocks Rally for Fourth Day StraightStocks have rallied for the fourth day in a row. They have gained strength off earnings and the potential of the Fed keeping interest rates unchanged. We are seeing some resistance at all time highs as identified by two red triangles on the KRI. The next target is 4632, but we are likely to see a pullback first. The Kovach OBV is still very strong, but at this point we are looking very over bought. The levels 4580, 4564, and 4545 may all be levels to consider buying back on a possible dip. A healthy correction could take us to 4521.
FX:SPX500Long
by quantguy
Stocks Climb Despite Hawkish Fed and Tech EarningsPoor tech earnings (especially from Intel) and Hawkish comments from Fed's Bostic were not enough to faze stocks. The S&P is still gunning for highs. It has leveled off at 4550. Our next target is at 4564, which could be within reach if we see another move higher. We are looking a bit overweight at the moment, and a technical correction is due. If so, watch for support at 4521 and 4504. The Kovach OBV is extremely strong, so there is no denying the bull trend.
FX:SPX500Long
by quantguy
Stocks Still Strong!!Stocks have pressed higher, but are currently rounding off. We tested 4545, the level we mentioned yesterday, but were unable to break through at the moment. A red triangle on the KRI denotes the resistance. We have since consolidated in a very narrow range between this level and 4521. We are getting strong support here, confirmed by three green triangles on the KRI. The Kovach OBV is still strong, but with this strong rally comes the risk of a technical retracement. If so, we should have further support at 4487 or 4462. If we see another breakout, 4564 is the next level, then we can consider new highs.
FX:SPX500Long
by quantguy
Stocks Rise Ahead of Key EarningsStocks have risen higher despite tapering and inflation worries. We have risen past the 4400 handle and have broken into the 4500 handle, but just barely. We have some key earnings today, so keep an eye on the news to determine if this rally will continue. We are starting to see some red triangles on the KRI suggesting that stocks may be facing some resistance. If so, watch for 4462 then 4400 to provide support. From above, 4521 is the next target. The Kovach OBV is pretty strong, suggesting stocks have returned to bull mode, if but for the moment.
FX:SPX500Long
by quantguy
Stocks Rally but Can they Sustain??Stocks have rallied to the mid 4400's, despite persistent inflation fears and a more hawkish stance from the Fed. We have topped off at around 4462. We came just a few ticks before the next level at 4487, before retracing. Currently, we are holding just above 4440. Two green triangles on the KRI suggest support here. The risk sentiment in the markets is mixed, and neutral at best, so it is likely that stocks will range today, assuming we do not see something change toward the open. The S&P is looking a bit top heavy, so there is more downside risk. If we retrace further, there is a cluster of levels below to provide support but 4408 seems likely to hold as a min lower bound for now.
FX:SPX500
by quantguy
ES1! SPX500USD 2021 Oct 18 WeekYM1! ES1! SPX500USD 2021 Oct 18 Week Don't chase long. Wait for price to return to test lower levels and find acceptance to long. Weekly: Low volume up bar = Weakness. Caution and keep stops tight if long Daily: Narrowing spread, low volume up bar as price approaches previous resistance = weakness. Tighten stops H4: Narrowing spread and effort no result as price moved up. Tighten stops. Entries will be based on price reaction to the levels Short = Test and Reject | Long = Test and Accept 4550 4412 4524 4381 4472 4333 4465 4268 Remember to like and follow if you find this useful. Have a profitable trading week.
CME_MINI:ES1!
by paradox677
S&P500 turned bullHave to give it to the S&P500 to turn bullish over the last two days. Had earlier highlighted the daily chart bullish indicators and the worst case intra day based scenario. Clearly the Daily chart trend prevails and more upside should follow to the end of the month. This was not expected, but clearly turned bullish, especially after a nice long bullish candle is followed by another to end the week. This broke above the 55EMA, the downtrend line, and activated a system Buy signal. The technical indicators are just turning up, which suggest that this could be the start of a mini bull to a higher high. Expecting the current resistance level to hold a bit, and with a short shallow pullback some time early-mid next week. Likely continue the trend to the historical high. Now, IF, and when it breaks this... if ever, it would be a seriously ugly fake head. #justsaying (the time lines are there as advance expected turn dates, btw... )
CME_MINI:ES1!
by Auguraltrader
Stocks Drift UpwardsThe S&P 500 has drifted upwards, and is currently testing 4389. At the time of this writing it has barely broken through, hovering in the 4390's. The next target will be 4408. If we can muster the strength to hit that, then 4440 is the next target, a relative high before a vacuum zone to 4462, but we have several levels before 4440, so watch for some resistance before that, unless we get some serious momentum at open. If not, we could retrace back to 4327. The Kovach OBV has started to inch upwards, but the momentum appears weak, so the risk is more to the downside.
FX:SPX500
by quantguy
SPY & Elliot Wave TheorySPY: Using Elliot Wave Theory, predicting a move to 4.30 seems likely. ~RSI has room to go to 430, so it is not out of the question of possibility ~The VI looked like it was about to switch momentum to bullish, but the red line is starting to curve back upwards giving the question is it really a reversal to bullish yet? ~Using Elliot Wave theory's 5 part wave we have completed the first 4 parts and are in need of the fifth. This theory predicts group mentality overall and is often times the case. ~Previous waves hint that this may be the last bearish wave before the tides turns bullish
AMEX:SPYShort
by CheckMatted
6