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SPX (S&P 500 Index)

SP500 - corrupt money supply - inflationThis ES1 chart is the six + Europe and Asia trading sessions. this hasn't corrected properly in over a decade.... and this is what it looks like when they print trillions out of thin air, as "aid for Ukraine" which is then spent entirely on weapons or infrastructure supplied by our military industrial complex. we were warned about this shit. Orwell, Roosevelt. BREAD, Circus, Genocide. thats a pretty clear indicator of how broken our government is. they show us Captain America and Captain Planet on the programming we got as kids... just an illusion to the reality of our criminal monetary systems and war mongering. all crimes against humanity, and sins of the soul that keep us trapped on these low vibrational levels. Time to ascend. Time for the Ponzi scheme of the us financial markets, and now corrupted federal government to fall gracefully. Teh SPX is long over due. the second leg down from covid is just now getting started... delayed by TRILLIOns of new money printed as stimulus. That is trillions stolen from all of us that have earned our money with our time and energy. It flows through Ukraine, Israel, Palestine, and right back to the US stock market in the portfolio of the corrupt dudes that oppress the rest of us. inflated by blood money. and now tethered to BTC with the ETF.... poisoning that currency as well. So.. time to pay the piper for all the money printing... the harmonics of the SPX suggest that we need to check in on the old resistance... now turned support, and 1600. bold white dotted line. ps... BTC ETF + HALVING . . . is everyone just now figuring out "buy the rumor sell the news" huge correction incoming. Where will everyone put their credits with the US markets and BTC dumping??? sounds scary?!!? well, fear and greed are the dominant forces in these markets. Hmmm... is there a coin that raises a different emotion??? maybe the emotion of Love? I know! DOGE coin. dogs are known for unconditional love. Love is the answer. love will prevail... im going that emotion moving forward. no more playing at the table with the blood money military complex sharks. im going to play at the table with all my friends. my tribe. the DOGE tribe.
CME_MINI:ES1!
by DHLawrence
SP500 & a corrupt money supplyThis ES1 chart is the six + Europe and Asia trading sessions. this hasn't corrected properly in over a decade.... and this is what it looks like when they print trillions out of thin air, as "aid for Ukraine" which is then spent entirely on weapons or infrastructure supplied by our military industrial complex. we were warned about this shit. Orwell, Roosevelt. BREAD, Circus, Genocide. thats a pretty clear indicator of how broken our government is. they show us Captain America and Captain Planet on the programming we got as kids... just an illusion to the reality of our criminal monetary systems and war mongering. all crimes against humanity, and sins of the soul that keep us trapped on these low vibrational levels. Time to ascend. Time for the Ponzi scheme of the us financial markets, and now corrupted federal government to fall gracefully. Teh SPX is long over due. the second leg down from covid is just now getting started... delayed by TRILLIOns of new money printed as stimulus. That is trillions stolen from all of us that have earned our money with our time and energy. It flows through Ukraine, Israel, Palestine, and right back to the US stock market in the portfolio of the corrupt dudes that oppress the rest of us. inflated by blood money. and now tethered to BTC with the ETF.... poisoning that currency as well. So.. time to pay the piper for all the money printing... the harmonics of the SPX suggest that we need to check in on the old resistance... now turned support, and 1600. bold white dotted line. ps... BTC ETF + HALVING . . . is everyone just now figuring out "buy the rumor sell the news" huge correction incoming. Where will everyone put their credits with the US markets and BTC dumping??? sounds scary?!!? well, fear and greed are the dominant forces in these markets. Hmmm... is there a coin that raises a different emotion??? maybe the emotion of Love? I know! DOGE coin. dogs are known for unconditional love. Love is the answer. love will prevail... im going that emotion moving forward. no more playing at the table with the blood money military complex sharks. im going to play at the table with all my friends. my tribe. the DOGE tribe.
CME_MINI:ES1!
by DHLawrence
✅ Daily Market Analysis - 01 MAY 2024Economic events: USA - ADP Nonfarm Employment Change (Apr) USA - S&P Global US Manufacturing PMI (Apr) USA - ISM Manufacturing PMI (Apr) USA - ISM Manufacturing Prices (Apr) USA - JOLTs Job Openings (Mar) USA - Crude Oil Inventories USA - FOMC Statement USA - Fed Interest Rate Decision USA - FOMC Press Conference On Tuesday, the S&P 500 underwent a decline, terminating its five-month streak of consecutive gains. This downturn was propelled by apprehensions surrounding inflation, ignited by data highlighting wage pressure. Concurrently, this development aligns with the commencement of the Federal Reserve's two-day meeting. The Dow Jones Industrial Average witnessed a decline of 570 points, equating to a 1.1% decrease, while the S&P 500 experienced a 1.5% drop, and the NASDAQ Composite saw a 2% downturn. Particularly noteworthy is the S&P 500's recording of a 3% loss for the month. NDX, SPX, and DJI indices daily chart The escalation in US labor costs throughout the first quarter exceeded expectations, primarily propelled by rising wages and benefits. This development has revived apprehensions regarding inflation, particularly amid a diminishing investor confidence in potential Federal Reserve rate reductions. As per the Employment Cost Index, labor expenses surged by 1.2% in the preceding quarter, following an unrevised 0.9% uptick in the quarter prior. On a year-over-year basis, labor costs climbed by 4.2%. This report emerges following recent data indicating a buildup of price pressures in the initial quarter, amplifying concerns surrounding inflation. The downtrend of EUR/USD persists for the second consecutive day, with the pair hovering around the 1.0650 level during Asian trading hours on Wednesday. Amid European market closures in observance of Labour Day, market participants eagerly anticipate the Federal Reserve's forthcoming policy decision. EUR/USD daily chart Despite the release of robust Eurozone data on Tuesday, the Euro encountered challenges in sustaining its upward trajectory. Notably, Eurozone GDP surpassed expectations, expanding by 0.3% in the first quarter. Moreover, the Harmonized Index of Consumer Prices (HICP) exhibited stable year-over-year growth, meeting anticipated levels. However, the core HICP, excluding food and energy prices, exhibited a softening trend, albeit still surpassing estimates. Investor sentiment remains optimistic regarding the possibility of interest rate cuts by the European Central Bank in June, as a majority of ECB policymakers have signaled their endorsement for such measures. On Tuesday, the Japanese Yen incurred notable losses against its American counterpart, reversing a significant portion of the gains witnessed the previous day, driven by the potential intervention by Japanese authorities. The primary contributor to the JPY's weakness is the substantial interest rate differential between Japan and the United States, a trend expected to persist in the foreseeable future. This, combined with heightened demand for the US Dollar, propelled the USD/JPY pair higher during intraday trading. USD/JPY daily chart Following the publication of the AiG Industry Index on Wednesday, indicating a continued contraction in Australia's private business activity for March, the Australian Dollar remains subdued. Despite this, market sentiment suggests that the Reserve Bank of Australia will maintain its current interest rates of 4.35% in the upcoming meeting scheduled for next week. The Australian Dollar faced additional downward pressure following the release of disappointing Aussie Retail Sales data on Tuesday, raising speculation about its potential impact on the RBA's interest rate stance. However, optimism stemming from higher-than-anticipated domestic inflation figures from the previous week has led to speculation that the central bank might delay any decisions regarding interest rate cuts. AUD/USD daily chart During the early Asian session on Wednesday, the NZD/USD pair faces selling pressure around the 0.5880 level. The New Zealand Dollar depreciates in response to worse-than-expected employment data from New Zealand. NZD/USD daily chart In the first quarter of this year, New Zealand faced a notable increase in its unemployment rate amidst a prolonged recession compounded by high-interest rate conditions. According to Statistics New Zealand's report on Wednesday, the nation's Unemployment Rate rose to 4.3% in Q1 from 4.0% in Q4, surpassing market expectations of 4.2%. Simultaneously, Employment Change figures recorded a decrease of 0.2% in Q1, contrasting with the previous reading's 0.4% rise and falling short of the projected 0.3% increase. The upsurge in the unemployment rate may prompt the Reserve Bank of New Zealand to uphold its elevated rate for an extended duration to counter inflationary pressures. Market sentiment suggests that the RBNZ is inclined to maintain a restrictive Official Cash Rate, with any potential for rate cuts unlikely until 2025. As the Federal Reserve initiates its two-day policy-setting meeting, market consensus leans towards the central bank maintaining its benchmark interest rate within the current range of 5.25%-5.50%, a level sustained since July. Investors are particularly attentive to Federal Reserve Chair Jerome Powell's subsequent remarks following the monetary policy statement. These remarks are expected to carry substantial significance, with investors keen to glean insights into Powell's alignment with the market's less dovish perspective on the rate outlook.
by FOREXN1
1
Amazon delivers results for the first quarterAmazon announced its earnings for the first quarter of 2024 yesterday after the closing bell. The company reported net sales worth $143.3 billion, marking a 13% YoY increase, and net income of $10.4 billion, up 225% YoY. Operating income rose to $15.3 billion, representing a growth of 218% YoY, with the AWS segment contributing $9.4 billion to the figure and accounting for 62% of the total operating income. In addition, the company’s operating cash flow increased by 82% to $99.1 billion for the trailing twelve months, compared with $54.3 billion for the trailing twelve months ended by 31st March 2023. These results topped the estimates, and the company’s shares slightly soared in the aftermarket. Net sales = $143.3 billion (13% YoY) vs. $127.4 billion in 1Q23 Net income = $10.4 billion (225% YoY) vs. $3.2 billion in 1Q23 Operating income = $15.3 billion (218% YoY) vs. $4.8 billion in 1Q23 Additional information: Amazon sales in North America rose by 12% YoY. International sales grew 9.6% YoY. Sales within the AWS segment increased by 17% YoY. Sales within Amazon’s advertisement unit grew by 24% YoY. Forward guidance Net sales for the second quarter of 2024 are expected to fall between $144 billion and $149 billion, representing a growth between 7% and 11% compared with the second quarter of 2023. Operating income is expected to be between $10 billion and $14 billion, compared with $7.7 billion in the second quarter of 2023. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor or any other entity. Therefore, your own due diligence is highly advised before entering a trade.
NASDAQ:AMZN
by Tradersweekly
SP 500 cash Top view of wave structure 5146 +or - 2 The chart posted is my view of the wave structure it is forming . We had two legs of equal in the sp 500 up into 5123 from 4954 .I would be rather bearish BUT cycles are in a time frame coming up and I think I would see a rather complex structure in formation . We have had a.7.3 % Correction >So I have now taken a 40 % net long I did want to add at 5061/5058 .I would look for the sp 500 now to rally into 5146 area to end wave A up to the alt abc rally idea reason is a simple one the decline is corrective and NOT impulsive in the structure as that the TVC:DXY target of 106.6 is nearing best of trades WAVETIMER .
SP:SPX
by wavetimer
SPX500 slips on higher labour costsThe SPX500 has lost momentum since yesterday. If the hourly RSI remains below 50, we may see lower prices in the short-term. Keep an eye on the daily RSI because if that slips it will affect the higher time frame's momentum. This video is intended for the users of Stratos Markets Limited, Stratos Trading Pty. Limited and Stratos Global LLC, (collectively “FXCM Group”). Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”), previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website: Stratos Markets Limited clients please see: www.fxcm.com Stratos Europe Ltd clients please see: www.fxcm.com Stratos Trading Pty. Limited clients please see: www.fxcm.com Stratos Global LLC clients please see: www.fxcm.com Past Performance is not an indicator of future results.
FX:SPX500Short
by FXCM
Trading Plan for Tuesday, April 30th, 2024Trading Plan for Tuesday, April 30th, 2024 Market Sentiment: Bullish, within a consolidation period likely followed by a breakout. Exercise caution and patience with trades. Key Supports Immediate Supports: 5127-30, 5121 (major), 5108 Major Supports: 5083 (major), 5067 (major), 5039 (major) Key Resistances Near-term Resistance: 5136, 5150-55 (major), 5176 (major), 5191 (major) Major Resistances: 5205-5208 (major), 5230, 5246 (major), 5270-75 (major) Trading Strategy Consolidation Breakout: Anticipate a breakout from the current 5120-5155 consolidation range. Plan accordingly for both bull and bear breakout scenarios. Long Opportunities: Prioritize failed breakdowns at 5121 for potential long entries. Focus on bids within the current range and knife-catches on major supports if deep flushes occur (5067, 5039). Short Opportunities: Due to the potential for a strong breakout, approach shorts cautiously. The 5176 and 5191 levels offer shorting opportunities, but with increased risk in the bullish environment. Utilize level-to-level profit-taking. Risk Management: Implement disciplined risk management in this potentially volatile period. Bull Case Holding Support: Defending the 5120 support within the current consolidation range is crucial for bulls. Breakout and Retest: Look for an upside breakout from the 5155 resistance area, followed by a successful retest for further confirmation. Targeting Higher Levels: A breakout could trigger an upward move, focusing on targets at 5176, potentially extending to 5191. Bear Case Breakdown Signals: A convincing break below 5121 signals a downward move. Watch for a bounce/failed breakdown as an entry point for a short position, with level-to-level profit-taking. News: Top Stories for April 30th, 2024 Market Dynamics and Corporate Earnings Global Activity: High activity with 1,300 company earnings reports expected; Federal Reserve's FOMC meeting closely watched for rate decision insights. Sector Highlights: Tech sector leads with major gains by Nvidia and Super Micro; Financials gain on rate cut hopes; Real Estate and Energy sectors lag. Economic Indicators and Central Bank Decisions FOMC Meeting: Coming up on 5/1 Jobs Data: Upcoming release expected to influence Fed's future decisions, especially on inflation control. International Markets Asian Markets: Mixed responses with Japan's Nikkei up and Shanghai Composite down. European Central Bank: Anticipated to follow Fed with potential rate cuts amid inflation challenges. Analysts' Projections and Market Sentiment Future Rate Cuts: Initially expected in mid-2024, now possibly delayed due to persistent high inflation. Investor Outlook: Cautiously optimistic but prepared for potential volatility due to uncertain monetary policy outcomes.
CME_MINI:ESM2024Long
by spytradingpro
SPX500 Maintaining Short-Term Bullish MomentumThe daily chart has been bouncing since moving oversold around the 19th of April. The daily RSI has now moved to the positive side of the indicator. The SPX500 hourly chart still shows signs of positivity. Its stochasstic indicates a bullish momentum, with no short-term oversold signals. This video is intended for the users of Stratos Markets Limited, Stratos Trading Pty. Limited and Stratos Global LLC, (collectively “FXCM Group”). Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”), previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website: Stratos Markets Limited clients please see: www.fxcm.com Stratos Europe Ltd clients please see: www.fxcm.com Stratos Trading Pty. Limited clients please see: www.fxcm.com Stratos Global LLC clients please see: www.fxcm.com Past Performance is not an indicator of future results.
FX:SPX500Long
by FXCM
Trading Plan for Monday, April 29th, 2024Trading Plan for Monday, April 29th, 2024 Market Sentiment: Bullish, following a multi-day rally. However, proceed with caution as a period of price discovery and more complex action is likely after the strong movement. Key Supports Immediate Supports: 5127 (major), 5117, 5102 (major), 5089 (major), 5082 Major Supports: 5068-72 (major), 5043 (major), 5034 (major) Key Resistances Near-term Resistance: 5150 (major), 5168-5171 (major), 5185 (major) Major Resistances: 5206-5208 (major), 5230, 5245 (major) Trading Strategy Consolidation Anticipated: Expect a period of consolidation and complex price action after the recent surge. Overtrading can lead to losses. Long Opportunities: Look for failed breakdowns at 5127 or 5102 as potential long entry points. Prioritize bids within the current range for a cautious approach. Short Opportunities: Target the 5185 level (resistance of the downtrend channel) for possible short positions. Consider level-to-level profit-taking within the range. Risk Management: Maintain disciplined risk management in this potentially volatile environment. Bull Case Holding Support: Defending the 5127 or 5102 major supports is crucial for bulls to maintain control. Reclaiming Resistances: Bulls need to push above the 5150/5168-71 zones for a potential run to the next major target, 5185. Adding on Strength: In an ultra-bull case, look for bull flagging above 5127 to add exposure in anticipation of an upward move. Bear Case Breakdown Signals: A convincing break below 5102 could trigger a deeper retracement. True bear case resumes with a break below 5033. As always, be wary of traps – look for a bounce/failed breakdown first, then consider shorting with level-to-level profit-taking. News: Top Stories for April 29th, 2024 Equity Market Overview Global Performance: S&P 500 and Dow Jones rose over 10% in Q1 2024; European and Asian indices also hit highs. Sector Trends: AI boom fuels tech sector gains; value stocks participate more in market rallies. Bond Market Dynamics Interest Rates: Delayed rate cuts by the Federal Reserve impacting bond yields. Performance: High yield bonds outperforming investment-grade due to favorable risk-return amidst volatile rates. Key Economic Indicators Inflation and Sentiment: Persistent inflation concerns; consumer sentiment improves slightly. GDP and Employment: Strong GDP growth and employment figures support bullish equity market sentiment. Market Outlook and Investor Sentiment Short-Term: Continued growth expected, but potential for increased volatility. Long-Term: Earnings growth modest in sectors like IT, significant in "Magnificent 7" companies. Federal Reserve Policy and Market Outlook Fed Stance: Maintains rates; cautious on inflation. Market Impact: S&P 500's performance influenced by rate cut expectations; market may face limited growth post-rate cuts.
CME_MINI:ESM2024Long
by spytradingpro
Volatility will be put to the test this weekWhile volatility pulled back following a spike earlier this month, this week will put it back to the test with the FOMC meeting (on Tuesday and Wednesday) and economic releases throughout the week, including S&P Global Manufacturing PMI, ISM Manufacturing PMI, JOLTs job openings, S&P Global Composite PMI, S&P Global Services PMI, ISM Services PMI, nonfarm payrolls, participation rate, and unemployment rate. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
TVC:VIXLong
by Tradersweekly
S&P500 (ES1!, SPX500, SP500) From Bullish to BEARISH1. Price swept a lot of low resistance lows with this bearish impulse, and created a new Swing Low. This is the External move. 2. Price retraced to the -FVG, a premium PD Array. This is an Internal Range Liquidity move. Expecting price to wick up past the PDH, but close inside the -FVG, and potentially end the retracement. Bearish PA should follow. Price is in premium prices now, as it crossed the Equilibrium of the trading range. Buys are not recommended until the price action shows a significant +BOS with a strong bullish close. LIKE, COMMENT or SUBSCRIBE if you like and want to see more analysis. Thank you for viewing!
CME_MINI:ES1!Short
by RT_Money
Weekly Outlook - 27/04/2024Last week brought huge earnings reports for some of the big US tech companies, with mixed reactions. We saw META lose 7% during the previous week after a great earnings report, and Alphabet (GOOG) soaring 10% on Friday. Next week, we will see earnings from Amazon (Tuesday) and Apple on Thursday as well as other large cap earnings reports. Will the market be pricing in higher earnings off the back of last week's form? First, let's observe the broader markets... S&P 500 SPX looks to have created a bearish break of structure. I am anticipating a retrace into the pattern, at approximately $5,200 (around a 2% up move), at which point, the price may look to reverse to the downside. We can find confirmation for this on the RSI, where the momentum, which was holding at ~40, was broken and bulls are clearly losing power for the time being. DXY The DXY (or dollar index) is inversely correlated to the S&P 500. To put it simply: dollar goes up; stocks go down, and vice versa. In this image, you can see that the DXY has broken down from the highs and is looking to retrace. We have already seen a throwback into the consolidation pattern, and are now looking for the dollar to retrace...thereby adding confluence to the fact that stocks will see a rise in the early days of the week AAPL For AAPL, it is simple. A break below $165.67 would cause a major impulse to the downside, targetting ~$149.50. However, with current momentum, what I believe is more likely is a retrace to between $186 and $191 (an increase of nearly 10% and 13% respectively). For this to happen, a clean break of the swing high at 178.36 would need to occur. That's all for this market outlook. In conclusion, I am looking for a declining dollar and rising stocks in the early part of next week. Let me know what you think. Cheers
SP:SPX
by joshuashepherd877
The market is growing emotionalYesterday’s financial print in the United States revealed a notable decrease in the GDP growth rate on a quarterly basis, coming down from 3.4% in 4Q23 to only 1.6% in 1Q24. This figure was well below market expectations of 2.5%, which spooked investors and led to a sudden drop across U.S. stock market indices. Nevertheless, by the market close, the SPX recovered all of its losses and staged a rally following the announcement of Alphabet and Microsoft’s earnings in the aftermarket. Both companies reported good results, seeing revenues and net income rise by significant percentages on an annual basis. Amid Alphabet’s plans to conduct a share buyback worth $70 billion and pay the first dividend ever to its investors, the company’s shares rose by more than 12%. Meanwhile, the reaction to Microsoft’s results was more subdued, with shares soaring slightly more than 2%. However, despite stocks soaring after the closing bell, the continuous S&P 500 E-mini Futures showed that the price failed to break above the 20-day and the 50-day SMA, which just recently produced a bearish crossover; both of these moving averages continue to act as important resistance levels. In addition to that, although RSI, MACD, and Stochastic reversed to the upside on the daily chart (after the preceding weakness in stocks), they are not necessarily outright bullish yet. The overall picture is mixed. Illustration 1.01 Illustration 1.01 depicts the 1-minute chart of the ES1! (S&P 500 E-mini Futures). Yellow arrows highlight the time of financial print release and earnings announcement. Illustration 1.02 The illustration above shows the daily graph of the ES1! (S&P 500 E-mini Futures) and two simple moving averages, the 20-day SMA and the 50-day SMA. The yellow arrow indicates a bearish crossover between the 20-day SMA and 50-day SMA, a typically bearish sign. One interesting thing to note here is that despite the broader market rising after the big earnings announcement after the closing bell, the ES1! has not broken above the mentioned moving averages. Technical analysis gauge Daily time frame = Bearish (turning neutral) Weekly time frame = Bearish *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of multiple indicators. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
SP:SPX
by Tradersweekly
Trading Plan for Friday, April 26th, 2024Trading Plan for Friday, April 26th, 2024 Market Sentiment: Uncertain, with bulls maintaining short-term control but facing the after-hours earnings event, which could bring sudden volatility. Key Supports Immediate Supports: 5067, 5058 (major), 5048 Major Supports: 5036-33 (major), 5010 (major), 4996-5000 (major), 4935-40 (major), 4904-08 (major) Key Resistances Near-term Resistance: 5080-82 (major), 5092 (major), 5108 (major), 5126-29 (major), 5145-50 (major), 5177-81 (major) Major Resistances: 5222, 5243-46 (major), 5272 (major) Trading Strategy Earnings Volatility: Be prepared for unpredictable price action and adjust your strategy in real-time. Trading the Range: Expect price to play within the broad 5036-5126 range. Exercise caution and consider bids/shorts within the range rather than chasing direction. Long Opportunities: Look for failed breakdowns at 5067 or 5058 after earnings. Focus on bids cautiously within the range, prioritizing the knife-catch protocol for deeper longs at major levels. Short Opportunities: Look for backtests of 5126-29, 5145-50, or the major 5177-81 zone if reached. Given earnings, approach shorts very cautiously. Profit-Taking: Use level-to-level profit-taking on any position taken, given the increased volatility risk. Bull Case Holding Support: Defending the current 5036-33 major support is critical. Reclaiming Resistances: Bulls need to push above the 5108 zone for a potential run to the next major target areas of 5126-29 and 5145-50. Bear Case Breakdown Signals: A convincing break below 5036 triggers the downside move. As always, be wary of traps – look for a bounce/failed breakdown first, then consider shorting with level-to-level profit-taking. News: Top Stories for April 26th, 2024 Economic Environment March PCE inflation report and its impact on the Fed's policy decisions. Apollo Global's acquisition of US Silica and implications for the materials sector. Stock Market Updates Mixed signals from global markets amidst geopolitical tensions. Bank of Japan's interest rate policy. Global Market News Market response to various corporate earnings and announcements. Additional Market News Bond market dynamics and potential interest rate cuts. Gold's performance and investment implications. Currency market updates and the impact of the Bank of Japan's actions. Additional Market Insights and News Economic Indicators and Outlook US GDP and Economic Growth: Analysis of the latest GDP report and its implications for growth trends. Corporate Earnings Outlook: Forecasts for 2024 and sector-specific performance expectations. Inflation and Interest Rates: Understanding the relationship between inflation, Fed policy, and corporate earnings. Labor Market Dynamics: Assessing the health of the labor market and its impact on consumer spending and corporate profitability. Technological Advancements and Market Shifts Generative AI and Business Transformation: How is GenAI impacting decision-making and efficiencies in various industries. Quantum Computing and Competitive Edge: Exploring the potential of quantum computing in various sectors and its implications for competitive advantage. Sustainable Technology Initiatives: The increasing focus on green technologies and the integration of sustainability with innovation. Industry Cloud Platforms (ICPs): Examining the adoption of ICPs and their role in accelerating digital transformation. Reminder: The after-hours earnings events introduce major volatility risk. Prioritize risk management and adapt your trading strategy accordingly.
CME_MINI:ESM2024Long
by spytradingpro
S&P500 Quick buy trade.The S&P500 is approaching the 1D MA50 (red trend-line) to test it as a Resistance for the first time after the April 15 bearish break-out. It has already broken above the Bearish Megaphone, the 4H RSI has formed a Channel Up similar to the price action's and so far this sequence of events is fairly identical to the previous correction of August 2023. That sequence almost touched the 0.786 Fibonacci retracement level before pulling back again, so we have ourselves a solid short-term bullish target. In fact we are placing ours a little lower at 5150, which represents a +4.70% rise from the bottom as that is not only the % rise that the August 2023 rebound returned but will also make contact with the 4H MA200 (orange trend-line). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500Long
by TradingShot
1
S&P Bears are strong but Bulls still have a chanceLast week, sellers firmly controlled the market. Buyers attempted to defend March's low, but the bears left them no chance. Prices consistently declined for six consecutive days, with the futures chart ( CME_MINI:ES1! ) appearing even more bearish. We are now approaching a critical juncture, which presents a significant opportunity for buyers to take a stand. The daily RSI is nearing an oversold condition, and simultaneously, the price is approaching the SMA100 alongside a horizontal support level ( 490 ) from the February consolidation. There is no absolute certainty that buyers will seize this opportunity, but we should closely monitor the price action next week. Although sellers have demonstrated their strength, we are still in a weekly uptrend, and trends do not end easily unless there is a radical shift in sentiment. Despite negative news in recent weeks, nothing has emerged as critically detrimental yet. However, this could change, so we must regularly reassess the situation as new information becomes available. The short-term outlook remains bearish, but this could change depending on how the price reacts to these support levels. Disclaimer I don't give trading or investing advice, just sharing my thoughts.
AMEX:SPYShort
by hermes_trisme