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Is the S&P 500 DOWNTREND OVER? The price is moving according to my last analysis on July 29th of the S&P 500 Futures. The market is taking a breath from last week, yesterday it closed more or less at that support area of $4100. We still have some important earnings incoming, I stick with my point that we can use the momentum to get to $4200 or even higher. However, in order to break this DOWNTREND, we need to get above $4500 and maintain. I'm not going to spend time talking about breaking the resistance of $4500 , as I see it extremely unlikely to happen. During the next few days, the market can decline till $3950 support , in order to get some volume and make new higher highs around $4200 . The economic environment is bearish for the stock market, unless the FED decides to decrease interest rates and start printing again, avoiding fighting inflation, destroying the currency as a result. The scenario that I think is going to happen is that we will continue the downtrend that started in the beginning of the year 2022. From my humble opinion, this was just one more rally in a bear market, maybe a bull trap that can last a few weeks more. I see the market between a range of $2800-$3500 till the end of the year, unless something big happens and reverses the downtrend. Honestly, I think they are just trying to keep the market up the longer they can, in order to sell their balance sheet at higher prices, starting from September. This thing can reverse in every moment, or it could continue to be bullish the next trading sessions. Better wait to trade to the downside till some clear reversal appears . Good luck with your investments. Earnings Releases to keep an eye on: - Marathon Petroleum (MPC), Occidental (OXY), BP (BP) - AMD (AMD) - Starbucks (SBUX) - Caterpillar (CAT) - PayPal (PYPL) - Gilead (GILD) - Airbnb (ABNB) - Marriott (MAR) - Uber (UBER) - Electronic Arts (EA) - Waste Connections (WCN) - Illinois Tool Works (ITW) - Cummins (CMI) - IDEXX (IDXX)
CME_MINI:ES1!Short
by GenadiYankov
8
Dow Jones Index (US30): Key Levels to Watch Next Week 📈 Hey traders, Here is my latest structure analysis for Dow Jones. The index keeps growing, and here is the list of resistance to watch for occasional retracements: Resistance 1: 33270 - 33500 area. Resistance 2: 34000 - 34270 area. Resistance 3: 35280 - 35520 area. Consider the following supports for pullback trades: Support 1: 31390 - 31900 area. Support 2: Falling trend line. Support 3: 29670 - 30166 area. Good luck next week! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
ULong
by VasilyTrader
8
Two scenarios for the S&P500 index for 2022-2023 More theory A diagonal triangle is always subdivided into five waves. An ending diagonal always appears as wave 5 of an impulse or wave C of a zigzag or flat. A leading diagonal always appears as wave 1 of an impulse or wave A of a zigzag. Waves 1, 2, 3, 4, and 5 of an ending diagonal, and waves 2 and 4 of a leading diagonal, always subdivide into zigzags. Wave 2 never goes beyond the start of wave 1. Wave 3 always goes beyond the end of wave 1. Wave 4 never moves beyond the start of wave 3. Wave 4 always ends within the price territory of wave 1. Going forward in time, a line connecting the ends of waves 2 and 4 converges towards (in the contracting variety) or diverges from (in the expanding variety) a line connecting the ends of waves 1 and 3. In a leading diagonal, wave 5 always ends beyond the end of wave 3. In the contracting variety, wave 3 is always shorter than wave 1, wave 4 is always shorter than wave 2, and wave 5 is always shorter than wave 3. In the expanding variety, wave 3 is always longer than wave 1, wave 4 is always longer than wave 2, and wave 5 is always longer than wave 3. In the expanding variety, wave 5 always ends beyond the end of wave 3. Best regards EXCAVO
OANDA:SPX500USD
by EXCAVO
18
What can I expect from SPX before it is exp?Greetings All! On the eve of the VIX and SPX futures expiration we can expect a rather calm market. The main open interest and the maximum negative gamma is located at strike 4000, which acts as support for the market. The maximum positive gamma is located at the 4200 strike, which is the main resistance. Options traders do not look for high index prices and sell calls and buy puts when the price approaches 4200. The 4,100 level is a trigger for rising volatility, and in Friday's session, volatility sellers successfully defended this level. Options traders have large put positions below current values, so I do not expect the VIX to rise. Sentiment in the dark liquidity market is more than optimistic. The DIX index hit an all-time high on the SPX decline and has generally been in the buying zone for a long time. Looking forward, this is a positive signal for the stock market, and we can see how institutional investors are set up and where to expect the index going forward. There are two trading weeks left before the SPX expires, and the market probably won't show us anything interesting during that time. In the meantime, I interpret traders' behavior as "pressure on the index with the potential for further growth in the medium term."
SP:SPX
by UnknownUnicorn32592850