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Snp500

Omicron Variant Weighs on StocksStocks plummeted off of renewed coronavirus panic over the Omicron variant, with 23 different spike proteins. It is currently evading all vaccines, and poses 'very high global risks' as per the WHO. This new boogeyman has permeated through the markets and we are likely to see lower levels in stocks until the risk has been priced in. Today is the Monday after the US holiday, so the markets are likely to jostle for direction over this issue. We smashed through the 4600 handle, finally finding support at 4580, where a green triangle on the KRI confirmed the support. Currently, we are testing 4632, and 4649, but the Kovach OBV is still very bearish, so it would be fomo to pile into a long trade at this point. We should see continued support from 4580, but if this does not hold, we have a cluster of levels below to provide further support down to 4545. The next target will be 4693 if we catch a bid, but we have to break 4649 first.
FX:SPX500
by quantguy
2
SPY Dropping. Or is looking to more. SPYThis is an ETF chart of the famous SNP500. We are at the end of some stage of an impulse. A critical stage and it is hard to know which one exactly with so much fiscal stimulus getting pumped into the virtual sector. Similarly, the lows to which we will drop will be highly dependent on how much for the the FEDs are going to print USD. This is assuming, of course, the the plans are in place to print more money in a move of the so called quantitative easing. If you live in wonderland, Modern Monetary Theory is not really modern, neither does it really work. Economic realities can and will catch up sooner rather than later. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
AMEX:SPYShort
by Rykin_Capital
Stocks Ranging Below HighsStocks have stabilized for now between 4649 and 4693. We are seeing quite a bit of volatility in this range, suggesting that we are jostling for value. The Kovach OBV has slumped, which makes it highly unlikely that the S&P 500 will be able to attempt new highs before the Thanksgiving Holiday in the US which starts tomorrow. We are seeing several green triangles near 4649, which suggests that we should continue to see great support at this level. If it does not hold, then 4632 will be the next to provide support. If we are able to break 4693, then 4729 is the next target before we can consider new highs again.
FX:SPX500
by quantguy
Three Factors Impacting Stocks TodayStocks made a run for highs with Fed Chair Jerome Powell's renomination yesterday. The S&P 500 briefly made new highs, but was quickly sold off, due to fears of a rate hike and a dimmer economic outlook in Europe. We have smashed through support at 4693, and are currently in the vacuum zone between 4649. The Kovach OBV is still pretty strong despite the selloff, suggesting an upside bias. If we find support at current levels, we must break 4693 again. If not, 4632 is the next level of support below.
FX:SPX500
by quantguy
1
What to Expect Before Stocks Make New HighsStocks are edging up to highs at 4729. We appear to be running into resistance in the low 4700's. We are currently seeing a red triangle on the KRI confirming the resistance at current levels at 4717. The Kovach OBV was rather flat, but has picked up recently. It will take some formidable momentum to break out of 4729, so watch for a selloff if we continue to approach this level. Eventually stocks will make new highs again, but that may follow a bull flag or other bull consolidation pattern first. If we retrace further, then 4693 should provide support, but beneath that we have a vacuum zone down to 4649
FX:SPX500Long
by quantguy
ES1! SPX500USD 2021 Nov 22 Week ES1! SPX500USD 2021 Nov 22 Week 4674 / 4711 provided good trade opportunities. The bull/bear tug of war at 4700 region will resolve by 1) price returns to channel and continue upward (whipsawing still expected) 2) Exit of channel, market rotate / mushroom over Weekly: Shortening of thrust and narrowing of spread. Price closed about level with the 2 bars before it, volume is low. No demand for higher prices at the moment. = Weakness may be expected Daily: Upthrust bar closing off low on background of minor strength. If next bar closes higher. strength will continue, wait for pullback to long. If next bar closes lower will confirm weakness, wait for test of resistance to short. H4: Indecisive Entries will be based on price reaction to the levels Short = Test and Reject | Long = Test and Accept 4764 4733 4668 4648 4613 4590 Remember to like and follow if you find this useful. Have a profitable trading week.
CME_MINI:ES1!
by paradox677
Stocks Facing Resistance at HighsStocks have faced fierce resistance at highs, as we mentioned in the last report. Recall that we identified highs as a significant barrier to the S&P 500, and if significant momentum did not come through then we were likely to retrace. This is exactly what we are seeing now. However, we are seeing support at 4693, which we also highlighted in the last report. If this does not hold, we could easily retrace the entire range to support at 4632 and 4649. There is a vacuum zone below to 4580, but as mentioned, the broad range stocks have held since the beginning of this month should hold. We could be in the makings of a bull wedge, suggesting that stocks are gearing up for a breakout. The Kovach OBV is still fairly flat, so we will need to see more momentum come through before considering a breakout.
FX:SPX500
by quantguy
Stocks Picking Up, Will They Breakout??Stocks are maintaining the broad range we disucssed yesterday, although they have picked up slightly and are tending toward the upper bound. We will have resistance at highs, and are already seeing some red triangles forming on the KRI indicating some that we are currently facing some resistance. We do appear to have good support from 4693, but if this does not hold, we should see further support from 4649 and 4632. The Kovach OBV is quite flat, so we anticipate this broad sideways correction to continue until some momentum comes through.
FX:SPX500
by quantguy
Stocks to Face Resistance at Higher LevelsStocks have gotten a lift off lows and are drifting up to higher levels. We are currently seeing support from 4693. We will continue to have resistance from 4729, and it will take more momentum than what we are currently seeing to break new highs. A retracement could continue the sideways correction, bringing us back down to 4649 or 4632. We could easily retrace to these levels and not be considered bearish, just continuing the correction. There is a bit of a divergence between the price action and the Kovach OBV which is currently weak. It would be fomo to enter a long trade at these levels. Wait for a retracement to the lower levels mentioned above before placing any bids.
FX:SPX500
by quantguy
Stocks in a Sideways Correction Under Highs The S&P 500 is ranging, and it seems we are in a broad sideways correction, after the impulse that took us to highs. We are seeing support from 4632, as identified by a green triangle on the KRI, and are facing resistance from 4693, as confirmed by a red triangle on the KRI, and will face further resistance from highs at 4729. The Kovach OBV has leveled off, so we anticipate the ranging to continue until more momentum comes through either way. Watch the vacuum zone below 4632 down to 4580.
FX:SPX500
by quantguy
Stocks Finding Support, Testing Higher Levels!!Stocks have found good support at 4632, confirmed by a green triangle on the KRI. we have gotten a good lift from this level and are currently testing higher levels. Currently, we are testing 4695, where a red triangle on the KRI seems to be indicating some resistance. If we can see momentum come through at open, we could easily test highs again at 4729. If we reject 4695, we could be set to range a bit between 4649 and 4695. The Kovach OBV is relatively flat, but appears to be picking up slightly.
FX:SPX500Long
by quantguy
2
ES1! SPX500USD 2021 Nov 15 Week ES1! SPX500USD 2021 Nov 15 Week Short from 4674 was good, followed by spring from the demand line of the uptrend channel. Market rebound from demand line of channel back into the possibility to test 4712. Weekly: Average volume down bar closing off high = weakness. Wait and see if weakness will flow over to lower time frame. Daily: Average volume up bar closing off high = possible weakness. Wait for next bar to confirm. H4: Climatic up bar followed by high volume up bar closing off high = Some weakness expected. Entries will be based on price reaction to the levels Short = Test and Reject | Long = Test and Accept 4764 4733 4711 4674 4657 4613 4590 4551 4515 4472 4411 4381 4333 4267 Remember to like and follow if you find this useful. Have a profitable trading week. ES1!
CME_MINI:ES1!
by paradox677
Breakout Soon for Stocks??Stocks have leveled off, trading pretty flat yesterday. Volatility has consolidated quite a bit, suggesting that a breakout either way is near. The Kovach OBV has completely flattened with this ranging. We are finding support at 4649 and 4632, two levels we called out yesterday. Beware of the vacuum zone below to 4580. If we are able to catch a bid towards open, the next target is 4693, then we will be in a position to make a run for highs at 4729 after that.
FX:SPX500Long
by quantguy
1