S&P 500 Futures Gap Down#sp1! - S&P500 futures gapped down on the first night of trading following the worst week for stocks since the financial crisis. A continued push down was expected after more negative news flowed out during the course of the weekend, most notably in the U.S. where we saw the first Covid19 death, as well as localized quarantines and self-isolation being recommended in a few states.
The main levels to watch for an indication of what Monday's trend will be for stocks when markets re-open are shown in orange. The upper orange line is where Thursday's price closed and where Friday's price were unable to close above. The lower orange line is where price bottomed on Friday. A move above the upper line would indicate that traders are attempting to form a bottom, or relief rally; a push below the lower orange line would indicate that traders aren't done selling the Covid19 fear as new lows are continuing to be made.
The PPO is still in a hard decline, while the RSI is attempting to level off in oversold territory, though the RSI could remain oversold for quite some and doesn't necessarily mean that prices are prime to buy just yet.
Judging by the continued deterioration of the situation, and lack of containment world-wide, we can expect traders to be hesitant to push prices higher until/unless the Federal Reserve and other global central banks step in with lower rates. Even then, the reactionary bounce on that potential event will likely be short-lived as the overall outbreak looks to be just kicking in to gear.
Good luck out there this week, more updates on SP500 after the markets close tomorrow, or in the early morning if there is a significant price move or updated Covid19 news.
Sp1
SP500 DAILY MEGAPHONE PATTERN FOR SHORT LIKE IN YEAR 2008SP500 DAILY MEGAPHONE PATTERN FOR SHORT LIKE IN the YEAR 2008
If you look at the year2008 top before the crash was the same pattern
+Virus+Fed Warning of virus impact+Repo market reduces last Friday+Iraq attack a few hours ago.
+There is open Gaps at 3170 at 3050 at 2940.
Take profit 2 at Daily SMA300
yo wadup btfd in a bit. below $290 = Donnie has 0% chance of winning & we go into recession imo.
I think around $300 they will find a cure for the modelovirus.
SP500 SHORT FROM MAJOR TRENDLINE +AB=CDBig test for the UpTrend now, price get to the major trendline and inside the channel, there is AB=CD so we expected for a new low and that the Monthly candle will end red, many more tools support this trade (Fibo E level Bollinger Band)
+Virus, 3170 is our target because there is there an open Gap.
S&P500 Daily Chart SHORT RE-TEST OF THE TRENDLINE BROKEN+VIRUSSP500 Daily Chart SHORT RE-TEST OF THE TRENDLINE THAT BROKEN
We got a nice breakout now reset and we going to new low, a lot of bulls stop-loss waiting to be deleted on the low of the Iran attack day, can fall a lot more, there is a gap at 3170 at 3050 at 2940 all these Gaps can easily close
+ VIRUS
S&P 500 Index: STEEL BALLS TRADE!!!
while everyone is buying the dips on major indexes,
let's go against the crowd and try to short the current market high on SPY.
DISCLAIMER:
steel balls are required for this trade
AKA trading on margin carries a high level of risk, and may not be suitable for all investors.
Trading Plan:
I have a sell limit on 3325 level.
Stop - 3350
T1 - 3292
T2 - 3242
(also, if the market reached T2, leave some minor part of the profit in free-floating just in case ...)
good luck!
S&P500 SHORT AFTER BIG AB=CD DAILY CHARTPrice end Big AB=CD then make a sneak attack and now we got a blue engulfing candle that probably will be deleted
Price can easily go under the D point of the AB=CD and then go to retest the daily Sma200
I also post shorts at DJ30 and Nas100 , all show strong tools that price need 2 go down.
Also, more tools that I don't have here at this chart are showing me that a strong down move needs to come very soon.
Let's see in 1-2 months...
S&P 500 MODEL TRADES for THU 12/26Tread Lightly in this Light Trading
Compulsive trading could lead to hazardous outcomes. It is even more applicable in low liquid markets and market days. Exaggerated moves likely in either direction to wipe out weak hands/stops until normal liquidity and volumes return post holidays.
Structurally, we are still in the bull territory. A daily close below 3180 is needed to put the bulls under pressure again. But, the bear is NOT visible in the vicinity, until a daily close below 3140.
Read below to check out our models' trading plans for the day. And, whether a bull or a bear, take some time off the markets to bond with family and friends, and spread and share the holiday spirit!
tradersai.com
NOTES - HOW TO INTERPRET/USE THESE TRADING PLANS:
(i) The trading levels identified are derived from our A.I. Powered Quant Models. Depending on the market conditions, these may or may not correspond to any specific indicator(s).
(ii) The results of these indicated trades would vary widely depending on the timeframe you use (tick chart, 1 minute, or 5 minute, or 15 minute or 60 minute etc), the quality of your broker's execution, any slippages, your trading commissions and many other factors.
(iii) These are NOT trading recommendations for any individual(s) and may or may not be suitable to your own financial objectives and risk tolerance - USE these ONLY as educational tools to inform and educate your own trading decisions, at your own risk.
#spx, #spx500, #spy, #sp500, #esmini, #indextrading, #models, #tradingplans, #outlook, #china, #tradewar, #recession, #yields, #tariffs, #impeachment, #economy
Correlation between S & P500 and WTII would not be surprised if we see the fall of the WTI and S & P500 this year. Although there are always alternatives
S&P 500 STRATEGIC OVERVIEWStrategically the support resistance levels in S&P 500, the channel entered the index,
and here we can observe the distributional sell signal from last week for this week (current bar).
Do not forget to read the notes in the presentation.
In summary, this week has been affected by distributional sales and I think it will continue until the closing.
We have been under the influence of the positive trend since October 21st.
There is no mention of a bear market.
SPX pulled back, is it going to hit all time highs now? 3245!The SPX was due for a pullback, we had anticipated the move lower before a pop would be more extended than it was and it was driven on trade news. We did, however, curl back into the wedge that was broken and use it as support before slightly rallying throughout the past few sessions. It did not seem like the downside was over after Monday, considering we saw an 80 point drop in just 2 days, which was about 2.7% from all time high. In our previous idea we mentioned that the SPX would have a really hard time moving up without pulling back just a bit. We got our pullback but we did not expect the price to rebound so fiercely off that support structure.
Now the question is what is the move to the upside? How far can we see the price on this rally? Last time we said that we would probably come into an all-time high a new one that is, somewhere above 3175.
A measured move is 3245 based on the Fib extension.
IF the trade talks continue to deteriorate then we could see more downside in the SPX bringing price down to 3025.
Disclaimer: This idea is for educational purposes only, this does not constitute as investment or trading advice. TRADEPRO Academy is not responsible for market activity.
S&P500: Within Selling Zone
spy is trading within a strong zone of supply.
I will short the market only after a bearish breakout of a minor rising channel.
It will be a "compulsory" confirmation on so strong bullish market.
target levels have been adjusted:
T1 - 3050
T2 - 3000
stop will be strictly above the highest point of the channel.
S&P500: Close To Resistance
S&P500 is close to a strong zone of resistance 3130 - 3160.
I will be looking for a reversal formation inside this zone to short the market
expecting the retracement to the support of a rising channel.
*don't trade aggressively and act only after the confirmation.
S&P500 : LONG (TF = 2H )Unfortunately, it is a trade opportunity that we see a little late.
It could be safer if we saw it after the closing.
I still want to be in the game.
I've added a short-term idea below as an extension.
But with the following parameters:
RISK/REWARD RATIO : 1/3
POSITION SIZE : %1
STOPLOSS : 3105.3
GOAL : 3155.5 - 3155.8
Bulls and Bears zone for 11-14-2019There has been some selling pressure during overnight session.
However, it seems like the selling pressure has stalled around 50% of yesterdays RTH level.
Need to see a test of overnight low and decide on direction.
Level to watch 3091---3093
Report to be aware of :
US:Jerome Powell Speaks
11:00 AM ET
SP1!Risk-off appetite is likely to follow this spectacular push through ATH across the major US markets. Trade concerns and elevated US risks.
With Powell taking a slight hawkish stance in relation to further cuts, and president Trump refusing to decide on a “potential date or location for signing a ‘phase one’ trade agreement with China” (Holt, Scotiabank) I expect markets to follow this pattern with a healthy retrace of approximately 6%.
|Rise like a Phoenix from the Ashes|
Bulls and Bears zone for 11-13-2019Yesterday after making ATH market sold off and continued during overnight session.
However, sell off paused at the Low of yesterdays RTH session and continued its downward move until it reached 1.272 Fibonacci level.
Currently market seems to be rallying, would need to see test of yesterdays RTH session Lows before deciding on direction.
Level to watch 3082---3084
Reports to be aware are:
US:Atlanta Fed Business Inflation Expectations
10:00 AM ET
US:Jerome Powell Speaks
11:00 AM ET
Bulls and Bears zone for 11-12-2019Overnight market sold off to 50% level of yesterdays RTH session and bounced.
However this morning market has been selling off and seems like it is going to test yesterdays RTH Close.
Need to see how market reacts to yesterdays Close and decide on direction.
Level to watch 3084---3082
However, need to keep an eye on when President Trump speaks during lunch time to discuss the country’s trade policy at the Economic Club of New York on Tuesday.
Bulls and Bears zone for 11-11-2019Market sold off overnight to test Fridays low and has been going sideways all morning.
Would need to see a test of overnight lows before deciding on direction.
Level to watch 3080---3078
Bulls and Bears zone for 11-08-2019Yesterday market after making new ATH sold off .
During overnight session market rallied and currently testing Open from yesterdays RTH.
If market can take out yesterdays Open convincingly, we might see a rally.
Last week we had 3 consecutive days when market made ATH.
If that pattern continues, today would be 2nd day of ATH, time will tell if that happens again.
Level to watch 3081---3083
Reports to be aware of are:
US:Consumer Sentiment
10:00 AM ET
US:Wholesale Trade
10:00 AM ET
SPY: Where to sell???
hey traders,
3130 - 3160 is a decent resistance area.
I will be looking for a short trade from this area.
The price might retrace to a recently broken structure level 3030
and continue falling bit lower to 2980 before further bullish continuation.
!Trade only with confirmation!
Bulls and Bears zone for 11-07-2019During overnight session market has rallied substantially to another ATH.
I suppose sellers are going to be active at least this morning.
Would like to see a test of overnight Highs before deciding on direction.
Level to watch 3085---3083
Bulls and Bears zone for 11-06-2019During overnight session market rallied to test Fibonacci 50% level of yesterdays RTH session, but has not gone above it yet.
Would look for overnight High before deciding on direction.
Level to watch 3071---3069
Reports to be aware of :
US:EIA Petroleum Status Report
10:30 AM ET
