Bearish reversal?S&P500 is rising towards the pivot and could reverse to the pullback support.
Pivot: 5,961.93
1st Support: 5,902.96
1st Resistance: 6,027.61
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Sp500index
Gold takes Adv. since Trump-a-rally pans out to Bulls fartIt's gone 2 weeks or so, since Mr. Trump has secured a win over his Democrat-rival Kamala Harris in the 2024 U.S. presidential election, as it declared by the Associated Press.
Since that, a lot of stocks soared in a meme-style mode, while Bitcoin clears $93,000 and Dogecoin soared amid Trump-fueled crypto rally.
Among nearly 2000 components of Smallcap Russell 2000 Index TVC:RUT , appr. 90 percent of them (without any fundamental reasons) were up on November 6 - at the day Trump clinched White House victory.
For S&P 500 SP:SPX and Nasdaq-100 NASDAQ:NDX indices these numbers were 70 and 75 percent respectively.
Since US dollar interest rates are still near multi year highs and Powell still says the Fed is in no hurry to cut interest rates.. all of that means Trump-a-rally gives no light for super-duper bets, as it's been discussed in earlier posted ideas.
Moreover, Geopolitics is roaring back, as current U.S. President Joe Biden tries to authorize the yellow-blues to use powerful long-range American-made weapons inside Russia's legal areas, potentially inside Kursk region where located The Kursk Nuclear Power Plant, that is one of the three biggest nuclear power plants (NPPs) in Russia and one of the four biggest electricity producers in the country.
The main graph is for Gold spot OANDA:XAUUSD , and it indicates on Cup with Handle technical structure in development as Gold takes Adv. since Trump-a-rally pans out to Bulls fart.
Weekly Forex Forecast Nov. 18 - 22: SP500, NAS, DOW, GOLDThis is the Weekly Forex Forecast for Nov 18 -22nd.
The Big 3 Indexes started to pullback last week from there elections fueled rallies. Patience is required, as we look for confirmations of a market shift from bullish to bearish.
Gold also retraced last week, and may may struggle against a surging USD. Patience here will benefit traders, as we wait until the market tips its hand.
Check the comments section below for updates regarding this analysis throughout the week.
Enjoy!
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EURJPY | MarketoutlookThe policy divergence between the US Fed and SNB supports the pair at lower levels.
Jobless claims dropped to 227,000 for the week ending October 19, down from 242,000 the week before, suggesting some stability in the labor market. The four-week moving average rose by 6,750, reaching 231,000, which indicates that jobless claims are still showing fluctuations despite the recent decline.
The S&P Global Flash U.S. Manufacturing PMI increased slightly to 47.8 in October, up from 47.3 in September. However, this still shows that manufacturing activity is contracting for the fourth month in a row. On the other hand, the Flash Services PMI rose to 51.5, indicating modest growth in the services sector, which is important since it makes up a large part of the U.S. economy.
CARS.COM LIKELY TO PERFORM WELL IN TECH SECTORIn the Software industry under Technology sector, CARS.COM technically, the stock has been
gathering bullish momentum, a pullback to its demand zone is what is left.
N.B!
- CARS price might not follow the drawn lines . Actual price movements may likely differ from the forecast.
- Let emotions and sentiments work for you
- ALWAYS Use Proper Risk Management In Your Trades
#CARS
#NYSE
#NASDAQ
#SP500
DESPITE Q3 LOSS, AST SPACEMOBILE REMAINS A BUYThe level between 19.30 - 23 looks strong for ASTS, holding price since late September; and with Q3 loss declared by the company, the price still got rejected at this level. There is high possibility that buyers are accumulating at this mentioned level. Will ASTS witness upward movement in coming weeks. A price close below 17 is not favourable!
N.B!
- ASTS price might not follow the drawn lines . Actual price movements may likely differ from the forecast.
- Let emotions and sentiments work for you
- ALWAYS Use Proper Risk Management In Your Trades
#ASTS
#NASDAQ
#SP500
S&P 500: Bearish Momentum Below 5927 S&P 500
Technical Analysis
The price dropped perfectly as we mentioned in the previous idea
so now still has a bearish volume to get 5891 and 5863 as long as it trades below 5927
otherwise, it should close 4h candle above 5928 to be bullish till 5952 and 5972
Key Levels:
Pivot Point: 5927
Resistance Levels: 5952, 5972, 5989
Support Levels: 5891, 5863, 5833
Trend Outlook:
- Bearish Trend while below 5927
- Bullish trend if break 5939
previous idea
Bubble everything - 2024-NOV-13Taking into account "bubble everything" theory and ~18-years cycle on financial markets + on top of that ~4-years cycle in crypto markets ... we have roughly 6-7 ATH on everything.
Then bubble will start bursting.
Housing markets will need 4-7 years to visit new bottoms.
Stocks & crypto will need ~1 year to catch new bottoms.
What's going to be the trigger to bubble everything burst?
Palantir Bullish Long-Term PlayPalantir shares rose to a yearly high near $33 in the evening trading session on Friday, September 6, after announcement Palantir joins the S&P 500 index.
Palantir was one of the strongest contenders for inclusion in the broad market S&P500 index.
This inclusion, as well as Dell (DELL), comes after tech companies Super Micro (SMCI) and Crowdstrike (CRWD) also joined the index earlier this year.
Technical 1-month graph indicates on Reversed Head-and-Shoulders structure in development.
Potentially it can bring Palantir stocks, up to $100 per share over the next several years.
S&P500: More Upward Potential!We still ascribe more upward potential to the S&P’s turquoise wave B – up to the resistance at 6088 points. At this level, we expect a transition into the same-colored wave C, which should push the index down into our green Target Zone between 5110 and 4921 points. Within this Zone, the larger wave should find its final low, which should provide potential entry points for long positions. A stop-loss can be set 1% below this Zone for risk management. However, if the index surpasses the 6088 points mark directly, our alternative scenario (probability: 38%) will come into play: it suggests that the wave low is already in place.
Stock Market ft. The BIG SHORT.Election coming, looks to be priced in as we speak, expect a drop, probably more severe than my chart if the conditions are met BELOW..
Conservative levels to short above (no guarantee we are coming back to those levels) as the futures market can continue to plummet as early as Monday next week.
I expect a heavy forecast of rain up until the election and after, we are about to see some crazy $%^& in the next few months,
Price is weighted on the weekly, to Target 1, if that level doesn't hold we will see target 2 and target 3 QUICK,
If my price reacts the way I think it is, I will be dropping a multi-year monthly chart to follow,
Good luck traders.
Trading Plan ES TODAYCurrent Position: Average entry price stands at 5741, ATM.
Trading Plan:
Targeting a push toward 5800, with plans to exit prior to the U.S. market open.
Although seller momentum appears depleted, I remain cautious about the likelihood of a sustained rally.
Intraday Strategy:
Hold a bullish outlook until the market open.
Anticipate a retracement toward yesterday’s close, at which point I intend to re-enter long positions.
Monitoring Approach: I will closely supervise the U.S. market open trades with heightened scrutiny compared to pre-market positioning.
DAX TRADING IDEAHi again traders!
Here to bring you'all this idea about a bullish movement on DAX. Not a long term buy but a fast trade. The idea is to close it today before the market closes.
Why I think so?
The index has been on a three-day consecutive bearish movement. Dropping 500. After a manipulation, price seems to be holding on 5 minutes - 15 minutes frames, showing us a clear accumulation zone leaded by EMA9 and EMA50 ( 5 mins).
My potential profit is 104 points above the marked entry. Althought I think price is pumping on a few hours, could be possible to see a quick retracement before that.
Nightly $SPY Prediction for 10.31.2024🔮
⏰7:30am
Challenger Job Cuts y/y
⏰8:30am
Core PCE Price Index m/m
Employment Cost Index q/q
Unemployment Claims
Personal Income m/m
Personal Spending m/m
⏰9:45am
Chicago PMI
⏰10:30am
Natural Gas Storage
#trading #stock #stockmarket #today #daytrading #swingtrading #charting #investing
Nightly $SPY Prediction for 10.31.2024🔮
⏰7:30am
Challenger Job Cuts y/y
⏰8:30am
Core PCE Price Index m/m
Employment Cost Index q/q
Unemployment Claims
Personal Income m/m
Personal Spending m/m
⏰9:45am
Chicago PMI
⏰10:30am
Natural Gas Storage
#trading #stock #stockmarket #today #daytrading #swingtrading #charting #investing
SPX Week in Review (log)Hello community,
A quick look at the SPX trend weekly.
We are still in an uptrend, as shown by the indicator.
It remains to be seen whether the US elections will shake up the market.
The chart shows the volume accumulation zones.
The orange line represents the 200-period simple moving average.
For my part, I am not worried.
Make your own opinion before placing an order.
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Gold Rush Knocks Dow Jones Industrial Average Off Its FeetGold as a value asset continues to shine brightly, having reached a new all-time high near $2,600 on Monday, September 16, marking the 30th all-time high for gold prices this year, 2024.
It is also noteworthy that the Dow Jones Industrial Average (DJI) to gold (XAUUSD) ratio is gravitating to ever lower values, while the time-tested indicator of a U.S. recession, based on the US labor market behavior signaling that one is imminent.
Thanks to @chinmaysk1 and its full of worth open source script Recession And Bull Run Warning, that I truly believe is one of the best over many.