S&P 500 Pushing to 6,000 after Wedge BreakFalling Wedge has formed with the S&P 500 since 1 July 2021.
We then recently had a breakout above 3,991 which confirmed upside to come.
With the strong Engulfing up candles, we can expect the price to soar in the next few weeks.
That is if the trend does hold and doesn't cause a fakeout.
Price>200
RSI>50
My first target is at 6,000.
SMC
Below the Falling Wedge, there is a clear sign of Sell Side Liquidity.
This is where Smart Money buys into positions (and sweeps liquidity) from traders who are long (get stopped) and for short traders who enter into their trades.
This causes the price to rocket up each time it touches this Order Block.
Now we'll need a strong catalyst for upside to continue. I am rooting for this one...
Sp500signals
My personal analysis is logical to SPXThe price is upward, which indicates that the trend is upward, so we will search for buying, and I have placed the buying or selling points, in the event that the price breaks the level that was talked about, in order to know more about what the price might do, and I analyzed it in a technical and rational way .
In the case of buying, we will wait for our order block to ease and fill the gaps, as well as the acquisition of liquidity, but in the case of selling, we will wait for the bottom to be broken, to confirm that the new trend has been formed and that we will become in a downward trend, and what confirms this to us is that the blood has come with the bottom that was created by If the price is broken, we will look to sell, and there is another support below it, and that support seems to be strong, so we will take the first target there, and we will wait for the price and we will wait for the price’s reaction to it. If we notice that it wants to change the direction, we will close all our deals. The long term, because if that level is broken, we will have a strong downside trend, because we will break strong support, which simply turns into resistance.
SPX Short Day TradeLooking at the short execution of the bearish harmonic PRZ, confluent with the .786 and 0.886 retracement of the whole move up It's a day trade. It can be a swing trade as well based one's risk capacity for Swing Trade SL is much higher at 4280.
Alternate View of the chart with all the levels of interest.
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SP500 could fall to 3800 supportSince the beginning of the year, SPX tried to pass 4200 several times and failed each time.
With the recent failed attempt on the first of May, we can consider this level a very strong ceiling for the index and could expect a test of support.
I'm bearish on the medium term and traders could look to sell rallies around 4100.
Such a trade with a stop above resistance would also have a comfortable R: R of around 1:2.5
US500 Trading in a triangleHello Traders,
on higher timeframes CURRENCYCOM:US500 is trading on a triangle. For the moment we don't know where will be a breakout so we're trading inside of it.
Next target probably the 3850 level.
S&P500 wants to go up!In my last analyses about the SPX , I spoke about a bottom of the index. The price was in the process of breaking the resistance when I created that post.
De deciding factor was whether we could create new support out of old resistance, which is happening right now.
First, the lower part of the zone was touched and made the price bounce. Now, we're witnissing the upper part of the zone being turned into support. Once this process has finished, the new uptrend can officially begin.
SP500A wonderful investment opportunity to buy the SP500 with the breach of the side channel shown in the analysis, as well as the breach of the bearish trend and a positive candle indicating that buyers entered the market in a positive way. Please be patient with the deal. Good profits. My friends, traders.
S&P500: Don't push it 🚫The S&P500 is currently wandering sideways and doesn't really know, where it's heading. We're currently expecting the course to sink further South, but there is a slight temptation to cross the resistance line at 4026 points. In our alternative scenario with a probability of 30%, the course could dig a bit deeper to finish the pink wave alt. II, before exceeding the resistance mark at 4026 points for good. Primarily, the S&P500 should fall below the support line at 3788 points to complete the blue wave . Once achieved, we're predicting steady upwards pulses in the longterm.
Will SP500 rise to 4300?Although, in my opinion, there is not any fundamental reason behind it, SP500 could start rising in this first part of the year.
There is a very good saying between traders: "trade what you see, not what you think" and, what I see are 3 weeks of rejection from the 3800 zone.
With this in mind, if this 3800 low remains intact, we can have a nice rise from SP500 and, if the index manages to clear also 4k zone, 4300 resistance is a reasonable target.
40 Bar Cycle Chart - S&P 500 SPY SPX Q - Updated 010323After a sloppy last few weeks of trading to wrap up the year-end 22', SPY closed right around the (Q4/22') SPX JPM J.P. Morgan Quarterly Collar sitting right at $3,830.
Looking ahead to the month of January, we have lots of upcoming data including December Inflation CPI, Jobs Report(s)/Unemployment Data (UNRATE), Producer Price Index (PPIACO), Leading Economic Data such as the OECD Composite Indicators (USALOLITONOSTSAM), Upcoming Q4/22' Earnings Releases, etc., of which is seems markets are staying relatively "pinned" for the time being until this data starts hitting the markets & investors come back from the extended holiday season.
Per our "40-Bar Cycle" chart, while I expect that this next down-leg in SPY SPX will likely play out as shown in the in the charts. However, do keep in mind that there are some seasonal tailwinds & also some tailwinds for markets regarding mid-term election cycles.
Here is what history tells us about pre-presidential election mid-term seasonality: 🇺🇸🗳🗓
“Third year pre-presidential election is the strongest.” (Up Double Digits, Historically)
Dow = 19.3% (Since 1949) Dow Jones Industrial Average
S&P 500 = 20% (Since 1949) SPY SPX ES1!
Nasdaq = 29.3% (Since 1971) QQQ NQ1!
Election Cycle Data 📊: twitter.com
Election Cycle Data 📊: twitter.com
Election Cycle Data 📊: twitter.com
Election Cycles Data Explained via Twitter Space 🔊: twitter.com
SPY Daily Chart Template
www.tradingview.com
Which camp are you in on the short-term (Q1/23') direction of markets?
Camp A: We are likely we headed for new lows in Q1/23 (Lowering, But High Inflation aka Stagflation + Persistent Price/Wage Pressures + Hawkish FED + Downward Earnings Revisions/Misses).
Camp B: We are likely to break the downtrend into Q1/23', as mid-term election/pre-presidential cycle seasonality kicks in & also as the economy proves more "strong" than many are discounting (Peak Inflation + Light Deflationary Forces + Dovish FED via Pending 'Pause' + Nominal Earnings "Resiliency").
Let me know your prediction in the comments below! 👇🏼
S&P500 Analysis 29.12.2022Hello Traders,
welcome to this free and educational analysis.
I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities.
If you have any questions or suggestions which asset I should analyse tomorrow, please leave a comment below.
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S&P500 Analysis 13.11.2022Welcome to the BasicTrading channel.
My name is Philip and in todays analysis I quickly go over the situation which we currently have on the S&P500.
I will analyse the asset both from a weekly and daily timeframe to show you the best possible trading opportunities.
If you enjoyed this analysis, let me know in the comment section which asset I should analyse tomorrow.
I will personally reply to every single comment.
Dont forget to smash that rocket and I will see you tomorrow with a new analysis.
SPX500- Bulls could see some favorable movementSince the recent low at 3500, marked by a huge bullish engulfing, with a long down tail and engulfing the previous 3 days, SP500 started to rise and, at the time of writing is trading exactly in 3800 resistance.
With a new bullish engulfing on Friday, the odds are in favor of a bottom, at least for now.
At this moment I see 2 bullish scenarios in SP's case:
1. A drop from this resistance and a test of the 3650-3700 zone before the resumption to the up move and a break above resistance.
2. A break above resistance without testing of support
In both cases, the target for bulls is the 4200 zone resistance
These scenarios are negated by a drop under 3550
S&P 500 Analysis and Trade IdeaInternal is now bullish.
A break of the swing low, then an iBOS toward the EQ, now a return to impulse.The strong internal low may hold, potentially sending price higher to premium prices to mitigate the supply zone.
Look for bullish price action from the current levels, as price reacts to the daily and 4H demand zones.
I am mindful of the strong bearish momentum. Price very well may continue lower, taking out the demand zones and the strong internal low.
BOS = Break of structure
EQ = Equilibrium, the middle of the leg of structure
Premium prices = the upper half of the leg of structure
Strong/Weak low/high = top or bottom of current trading range (leg of structure)
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Market Breadth.. great tool for entry timingAre you looking for an edge in swing trading/long term investing? I highly suggest using market breadth!
Highlighted with vertical lines on the chart and yellow and red circles in the breadth chart (% of S&P above their 50 day MA) are all instances when breadth dropped to 50 or 30% AFTER rising from 10 to 91%. As you can see from the chart in all historical cases breadth went back up to at least 75% signaling and end to the correction/bear market.
We are currently sitting at 48ish %. If breadth goes back up above 50 to 75% then history tells us (based on collective actions of all market participants) that this signals a move to new all time high!
SP500- Important moment for bullsSince mid-June, SP500 had a very good run with the index rising around 15% from the bottom to the top.
However, since 4300 recent top, the index has started to drop and now is trading at 4200.
Looking at the daily posted chart we can see that 4100-4150 is a very important horizontal support and is imperative for bulls to maintain this zone to keep momentum to the upside.
On the other hand, a drop under this support to the 4k zone would signal a new lower high and more importantly a false break to the upside and the bearish trend that started at the beginning of the year most probably will resume.
That being said, I'm slightly bullish as long as the price is above the mentioned support