Get started

SPX (S&P 500 Index)

S&P 500 Holds Steady at Crucial Support Level on Triple WitchingThe S&P 500 (SPX) is steady at the crucial support level 5113. If the index maintains this level, it could retest the 5200 zone and potentially aim for 5350 upon breaking out. However, a fall below 5113 could lead to a retest of 5050/4950. We have identified sizeable dark pool institutional buying levels indicated at 4950, so they either protect that zone if it's tested or the market makers want it at 4800/4600. SPX is undergoing a rebalancing today, with Super Microcomputer (SMCI) replacing Whirlpool (WHRL) and Deckers Outdoor (Deck) replacing Zions Bancorporation. SMCI has already seen a remarkable 1100% increase this year. Despite some scepticism about its ability to continue growing, funds will need to purchase shares of SMCI, which could lead to a situation reminiscent of Tesla's growth in 2020 when it joined the SPX and surged by 170%. Today also marks a "Triple Witching Day" on Wall Street, where stock options, market index options, and market index futures all expire simultaneously, potentially leading to increased market volatility and unexpected pricing movements. This quarterly event presents opportunities for traders and algorithms to adjust positions, with around US$5 trillion worth of securities set to expire. Investors are advised to exercise caution and remain vigilant amidst the heightened trading activity, reminiscent of the famous warning to "beware the Ides of March." Over the next few weeks, we will closely monitor the performance of Bitcoin and the S&P 500 and the impact of the latest additions to the index.
OANDA:SPX500USD
by TechChartMark
S&P still bullish but first warning signs The last week kicked off with bears challenging the previous week's low (505), coming close to success. Bulls stepped in, mounting a strong defense and steering prices back to a historical high. It might have been a convincing victory if only they could have sustained it until Friday's closure, but that didn't materialize. Friday concluded on a bearish note, closing even below the previous week's end (512,85). This signal alone isn't enough to confirm a trend reversal thesis but from now we should now keep a closer eye out for any emerging bearish signs. The outlook for the next week is mildly bullish. Long term Buyers should refrain from increasing position and maybe consider (partial) profit taking. Day traders can explore opportunities on both sides within the range of the previous week with some preference to LONGs Stay alert for potential volatility on Tuesday as PMI data is scheduled for release. Disclaimer I don't give trading or investing advice, just sharing my thoughts.
AMEX:SPY
by hermes_trisme
Trading Plan for Friday, March 15th, 2024Trading Plan for Friday, March 15th, 2024 Market Sentiment: Cautious on OPEX Friday Weekly Volatility Risk: High (amplified by OPEX) Supports to Watch: Immediate Supports: 5213 (major), 5207, 5200 (major), 5196, 5192 (major), 5181, 5176, 5165 (major), 5160, 5152, 5146 (major), 5141, 5136, 5126, 5119, 5109-11 (major), 5102, 5091 (major), 5086-88 (major). Resistances to Monitor: Key Resistances: 5221 (major), 5229-32 (major), 5236, 5240, 5246, 5251 (major), 5257, 5264, 5269, 5278, 5287 (major), 5294-96 (major), 5308, 5315 (major), 5326, 5337, 5343 (major), 5352 (major), 5362, 5375-80 (major) Trading Strategy: OPEX Caution OPEX Volatility: Expect potential chop and poor follow-through due to options expiration dynamics. Exercise increased caution and prioritize capital preservation. Limited Positions: Reduce position sizes or consider sitting out the majority of the day. Avoid impulsive overtrading. Watch Out for Chop: The zone between 5192 and 5230 is particularly messy. Trade with extreme care within this range. Support Focus: Watch 5213 and 5200 for potential bounce plays, however, these zones are heavily used up and may not offer reliable setups. Long Opportunity: Look for longs around 5192 (the last major support before a steeper sell-off). Avoid longs below 5165. Bull Case OPEX Range: Expect a potential ugly range trade between 5192 (lowest support) and 5230. A successful defense of supports would set up a breakout towards 5251 and further toward the 5290s. Overnight Strength: If overnight trading shows basing below 5220, consider potential upside towards the next resistance level. Bear Case Breakdown Signals: Breakdown below 5191 could trigger selling pressure. Watch for shorting opportunities on failed breakdowns or bounces, ideally after a test of 5191. News: Top Stories for March 15th, 2024 Stock Market Rally: The S&P 500 continues its upward momentum, driven by strong fundamentals, earnings growth, particularly in the tech sector (AI stocks), and investor optimism for a Fed soft landing. Interest Rate Outlook: The Federal Reserve maintains its current interest rate policy but signals potential rate cuts later in the year. Mixed Economic Data: Economic indicators show both strength and pockets of weakness. GDP growth remains impressive, while inflation data suggests challenges in the Fed's fight to control prices. Banking Regulations: One year after bank run concerns, regulators prepare new rules to mitigate future financial instability. Corporate Debt Concerns: Corporate defaults rise, highlighting the strain of inflation and high interest rates on riskier borrowers. Private Equity Expansion: Private equity giants expand into consumer debt markets, potentially impacting household financial health. Inflation Updates: The CPI and Core CPI remain critical for understanding inflation trends and potential Federal Reserve rate changes. Global Risks: Monitor ongoing geopolitical tensions, climate risks, technological disruption, and election-related uncertainties for impacts on global markets. CFO Trends: Focus on digital transformation, strategic planning with AI/automation, and balanced growth strategies. Energy Transition: Challenges in the transition to net-zero energy become evident as major players face hurdles. Remember: Options Expiration (OPEX) can cause unpredictable market behavior. Trade with reduced risk, prioritize capital preservation, and be prepared for rapid shifts in direction. Disclaimer: This analysis is for educational purposes only and is not financial advice. Consult a professional financial advisor for trading decisions.
CME_MINI:ESH2024
by spytradingpro
US500 Trade Idea - VideoConcerning the earlier shared trade idea on the US500 (S&P 500 index), this video expounds on the rationale underpinning the consideration of this potential trade setup. Analyzing the 1-hour chart for the S&P 500, the price has been exhibiting an upward trajectory. We can discern the formation of higher highs and higher lows, suggesting a prospective US500 bullish trend, however beware the double top and strong sell off. Im anticipating a move back up to rebalance and we could see further downside so approach this with caution and good risk management. The strategy involves identifying an opportune long entry point during the retracement, with the aim of capitalizing on the previous high levels, as highlighted by the chart markup. It is crucial to note that this information is solely for educational purposes and should not be construed as financial advice.
CAPITALCOM:US500Long
by tradingwithanthony
S&P 500 INTRADAY LEVELS FOR 15/03/2024BUY ABOVE - 5160 SL - 5150 TARGETS - 5170,5178,5188 SELL BELOW - 5140 SL - 5150 TARGETS - 5120,5109,5100 NO TRADE ZONE - 5140 to 5160 Previous Day High - 5178 Previous Day Low - 5122 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
SP:SPX
by Jagadheesh_JP
3
US500 Trade IdeaAnalyzing the 1-hour chart for the S&P 500, the price has been exhibiting an upward trajectory. We can discern the formation of higher highs and higher lows, suggesting a prospective US500 bullish trend, however beware the double top and strong sell off. Im anticipating a move back up to rebalance and we could see further downside so approach this with caution and good risk management. The strategy involves identifying an opportune long entry point during the retracement, with the aim of capitalizing on the previous high levels, as highlighted by the chart markup. It is crucial to note that this information is solely for educational purposes and should not be construed as financial advice.
CAPITALCOM:US500Long
by tradingwithanthony
2
Trading Plan for Thursday, March 14th, 2024Trading Plan for Thursday, March 14th, 2024 Market Sentiment: Cautious, watching for breakout direction Weekly Volatility Risk: High Supports to Watch: Immediate Supports: 5230-28 (major), 5220, 5213, 5202-07 (major), 5191, 5180-83 (major), 5167, 5162, 5156 (major), 5148, 5144, 5136, 5126 (major), 5115, 5108, 5103, 5088-91 (major), 5083 (major), 5076, 5071, 5067 (major), 5060, 5053, 5048 (major). Resistances to Monitor: Key Resistances: 5235, 5245 (major), 5257 (major), 5265, 5280 (major), 5287-90 (major), 5300, 5306, 5314, 5327, 5335 (major), 5340, 5346 (major), 5354, 5363-65 (major), 5374 (major), 5380, 5391 (major) Trading Strategy: Consolidation Zone: Price action between 5230 and 5245 indicates a new consolidation range. Exercise caution with overtrading within this range. Look for breakouts or breakdowns for clearer directional cues. Support Focus: Watch for potential long opportunities at 5230-28 (after a dip and reclaim) and 5220 (if today's low holds and reclaims). For aggressive traders, major supports like 5202, 5183, and 5156 offer potential bounce areas for catching points on a larger sell-off. Counter-trend Caution: (For experienced traders): Shorting green candles is risky. If a breakout above 5245 occurs, watch for short entries around the 5280-90 zone. Patience is Key: Prioritize capital preservation and wait for high-conviction setups. Bull Case: Flag Structure: Current price action could be forming a bull flag. Defending 5230 and 5220 supports keeps this scenario alive, targeting a potential breakout towards 5257, 5265, 5280, and the 5287-90 zone. Adding within Flags: Monitor for reclaims of 5235, indicating strength within the consolidation with the potential for another test of 5245. Bear Case: Breakdown Signals: Breakdown below 5220 could trigger selling pressure. Watch for shorting opportunities on failed breakdowns or bounces, ideally after a test of 5220. News: Top Stories for March 14th, 2024 U.S.-China Deal: The quiet extension of a bilateral agreement between the U.S. and China underscores ongoing complex diplomatic and trade relations. Chip Manufacturing Contrasts: Delays in a U.S. chip plant contrasted with Japan's on-schedule progress highlight the challenges and global dynamics in the semiconductor industry. Gaza Economic Crisis: Surging inflation in Gaza puts further strain on residents, particularly due to the dramatic price increase for essential goods. Immigration Impact: Post-pandemic urban growth in the U.S. is significantly driven by immigration, reshaping demographics and economic landscapes. TikTok Scrutiny: The U.S. House of Representatives takes a step towards potentially banning or forcing the sale of TikTok, citing national security concerns. Retail Landscape: Family Dollar's planned closures signal changes in the retail sector due to shifting consumer behavior. Labor Market Update: The robust U.S. job market adds 275K positions, a factor as the Fed weighs interest rate decisions. Additional Factors: Keep an eye on the upcoming PPI data, oil market dynamics, and Robinhood's surging trading volume for potential market implications.
CME_MINI:ESH2024
by spytradingpro
S&P Sector rotationPut together information on what is happening in major S&P sectors Majority of sectors are strong on the daily chart. There are some short-term problems on lower timeframe but they can be overcome. This is good for buyers as it shows that money is not leaving the market but moving from one sector to another. A lot will depend on tech bulls. XLK must clear 212 resistance to help market move higher. You can find my market overview here AMEX:XLK AMEX:XLV AMEX:XLF AMEX:XLY AMEX:XLC AMEX:XLI AMEX:XLP AMEX:XLE
AMEX:SPY
by hermes_trisme
S&P 500 INTRADAY LEVELS FOR 14/03/2024BUY ABOVE - 5170 SL - 5160 TARGETS - 5178,5188,5200 SELL BELOW - 5160 SL - 5170 TARGETS - 5150,5140,5122 NO TRADE ZONE - 5150 to 5178 Previous Day High - 5178 Previous Day Low - 5150 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
SP:SPX
by Jagadheesh_JP
3/13 Wednesday Trading PlanTrading Plan for Wednesday, March 13th, 2024 Market Sentiment: Neutral to Bullish Weekly Volatility Risk: High Supports to Watch: Immediate Supports: 5235, 5230, 5221 (major), 5214, 5207 (major), 5202, 5196, 5191 (major), 5181, 5175 (major), 5167, 5162, 5155 (major), 5148 (major), 5137 (major), 5125, 5115 (major), 5109, 5103, 5097, 5090 (major), 5082, 5077-80 (major), 5070, 5060 (Major), 5056, 5045-47 (major), 5038, 5026, 5018-20 (major), 5012, 5000 (major), 4990, 4982 (major). Resistances to Monitor: Key Resistances: 5242 (major), 5254, 5257, 5274-78 (major), 5283, 5290 (major), 5297, 5309, 5315, 5326 (major), 5331, 5341, 5345, 5355 (major), 5366 (major). Trading Strategy: Post Trend-Leg Caution: After the significant rally, short-term setups are less clear. Exercise caution with both longs (chasing, rug pull risk) and shorts (against the dominant trend). Let price discovery unfold before forcing trades. Support Focus: Watch for potential long opportunities at 5235, 5221, and particularly 5207. Look for reclaims or failed breakdown setups for stronger entries. Short Opportunities (For experienced traders): Consider shorts on confirmed breakdowns below 5207 or bounces off the 5274-78, and 5290 resistance areas. Patience is Key: Prioritize capital preservation and wait for high-conviction entries. Bull Case: Trend Continuation: The overall bull trend remains strong. Defending 5220 and 5207 supports paves the way towards new highs at 5254, 5274-78, and the 5290 macro magnet. Adding within Flags: Monitor for potential bull flags overnight between 5242 and 5230. Consider adding positions within a well-formed flag if a major new high is not made. Bear Case: Breakdown Signals: Breakdown below 5207 could trigger selling pressure. Watch for shorting opportunities on failed breakdowns, ideally after a bounce. News: Top Stories for March 13th, 2024 Economic Outlook: Despite President Biden's cautious economic forecasts in November, recent progress suggests a stronger outlook. Economists are predicting faster growth, lower inflation, and continued job creation. Housing Initiatives: President Biden's proposed initiatives to reduce housing costs aim to ease affordability challenges caused by inflation and high-interest rates. Cryptocurrency Trends: Meme coins are surging, while electric vehicle stocks see mixed analyst opinions highlighting the volatility of these sectors. Gold's Safe Haven: Amid geopolitical tensions and economic uncertainty, the record-high gold price reflects its appeal as a safe-haven investment. Interest Rate Debate: Speculation continues around the timing of potential Federal Reserve interest rate cuts. Disclaimer: This analysis is for educational purposes only and is not financial advice. Always consult with a professional financial advisor before making trading decisions.
CME_MINI:ESH2024
by spytradingpro
S&P500 Overbought. Relief correction very probable.The S&P500 index (SPX) is trading at the top of the 17-month Channel Up with the 1W RSI overbought and at its highest (78.00) in more than 4 years (since January 2020). Once it breaks below its MA level (yellow trend-line), it will be a sell confirmation, which is the signal that flashed on February 20 2023 and July 31 2023. The minimum decline within this Channel Up pattern has been -5.84%, so our sell target is 4900. Then we will start buying again and if it drops more (i.e. below Support 1), we will reserve our last buy entry on Support 2 at 4665, which will still be marginally above the maximum decline of -10.96% and still within the Channel Up. After the correction, at any point the 1W RSI breaks above its MA again, it will be a bullish break-out signal. ------------------------------------------------------------------------------- ** 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:US500Short
by TradingShot
1
S&P 500 INTRADAY LEVELS FOR 13/03/2024BUY ABOVE - 5178 SL - 5170 TARGETS - 5188,5200,5215 SELL BELOW - 5170 SL - 5178 TARGETS - 5160,5150,5140 NO TRADE ZONE - 5170 to 5178 Previous Day High - 5178 Previous Day Low - 5122 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
SP:SPX
by Jagadheesh_JP
S&P500 This is the end of the 5 month Bullish Leg.S&P500 / US500 is approaching the top of a Fibonacci Channel Up that goes back all the way to August 2022. The 1day MA50 has been in firm support since November 3rd 2023 but as the 1day RSI is squeezed inside a Triangle pattern, a break out is inevitable. This is technically more likely to be to the downside due to this overbought multi month momentum near the top of the Channel. Sell and target 4950 (Support A, 0.382 Channel Fib and -6.00% from the top). Previous chart: Follow us, like the idea and leave a comment below!!
CAPITALCOM:US500Short
by TheCryptagon
2
3/12 Tuesday Trading PlanTrading Plan for Tuesday, March 12th, 2024 Market Sentiment: Cautious Weekly Volatility Risk: High Supports to Watch: Immediate Supports: 5181 (major), 5176, 5168 (major), 5163, 5155, 5149, 5140 (major), 5136, 5126 (major), 5115, 5110, 5103 (major), 5092-95 (major), 5082, 5077 (major), 5067, 5056, 5047, 5038-41 (major) Resistances to Monitor: Key Resistances: 5187, 5198, 5202 (major), 5212, 5220 (major), 5230, 5238, 5248-50 (major), 5262, 5267-70 (major), 5279, 5288-90 (major), 5297, 5305, 5314-16 (major), 5324, 5336 (major), 5344 (major) Trading Strategy: CPI Volatility: The recent CPI data release suggests hotter-than-expected inflation. Approach Tuesday's trading with heightened caution, reduced position sizes, and anticipate the potential for large swings and sudden reversals. Re-evaluate Supports: The CPI data indicates increased potential for a more substantial market pullback. Reassess support levels and be prepared for potential breaks below the previously noted "major" levels. Short-Term Bearish Tilt: Consider a short-term bearish bias for the day, prioritizing potential shorting opportunities on confirmed breakdowns below key supports or bounces off resistance levels. Focus on Commodities: Pay close attention to commodities markets, specifically oil and food-related commodities, as recent price increases suggest further inflationary pressure. Bull Case Trend Defense: Bullish outlook remains plausible if 5181 and 5168 are defended. Holding these supports suggests a potential path towards resistances at 5203 and 5220. Adding on Strength: Consider adding to long positions on reclaims of 5187, but proceed with extra caution ahead of potential further volatility. Bear Case Breakdown Risk: Breakdown below 5168-63 could signal a reversal. Look for bounces or failed breakdowns at these supports for potential short entries. Be aware that moves can be very rapid during high-impact news releases. News: Top Stories for March 12th, 2024 Inflation Concerns Surge: The latest CPI data reveals higher-than-expected inflation readings, sparking concerns about persistent inflation and its impact on the Federal Reserve's plans for interest rates. Market Volatility: Recent volatility underscores the sensitivity of the market to economic data and geopolitical events. Sectors like technology are drawing additional attention. Cryptocurrency Market: Bitcoin and Ethereum prices are fluctuating, reacting to regulatory updates and news of institutional adoption. Earnings Outlook: Stay attuned to corporate earnings for insights into how companies are navigating current economic challenges. Geopolitical Impacts: Global tensions, notably the Ukraine-Russia conflict, are influencing commodity markets and overall sentiment. Additional Factors: Keep an eye on M&A activity, economic indicators, tech regulation developments, sustainable investing trends, and evolving U.S.-China trade relations. Remember: News-driven events like the CPI release can trigger significant short-term volatility. Stay flexible, be prepared to adapt, and prioritize preserving your capital. Disclaimer: This analysis is for educational purposes only and is not financial advice. Always consult with a professional financial advisor before making trading decisions.
CME_MINI:ESH2024
by spytradingpro
S&P 500 INTRADAY LEVELS FOR 12/03/2024BUY ABOVE - 5122 SL - 5109 TARGETS - 5128,5140,5150 SELL BELOW - 5109 SL - 5122 TARGETS - 5100,5091,5083 NO TRADE ZONE - 5109 to 5122 Previous Day High - 5122 Previous Day Low - 5091 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
SP:SPX
by Jagadheesh_JP
S&P500 Tight Channel Up calls for buying unless it breaks.S&P500 is trading inside a narrow Channel Up pattern. As long as the price stays inside, we remain bullish on the index. The ralies inside it have been quite symmetric as well. The MA50 (1d) has been supporting this strong bullish trend since November 03 2023. Trading Plan: 1. Buy as long as the price remains inside the Channel Up. 2. Sell if it breaks below it (Support 1 in play). Targets: 1. 5260 (+ 4.34% symmetric bullish leg). 2. 4920 (Support 2). Tips: 1. The RSI (1d) is inside a Triangle pattern. Either direction it breaks to, it will be an early trend signal, so keep an eye. Please like, follow and comment!! Notes: Past trading plan:
CAPITALCOM:US500
by TradingBrokersView
1
$IBM 3-Weeks Tight PatternStodgy old NYSE:IBM has had quite a run over the last few months. I am sorry to say I have missed it. Earnings are now out of the way and as you can see, we have a 3-weeks tight pattern. It has recently been setting new 52 week highs as well. If you are a Wiiliam O’Neil follower, he states in his writings that a 3-weeks tight pattern can lead to some serious gains going forward. If you like you can read about it here: www.investors.com In any event, I have started a ½ half sized position here and have my stop just below the most recent low. Seems like a pretty good risk reward to me. But it’s all TBD. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking. For those wondering, the chart I am using is LevelUp right here on TV. You might want to research it, I find it helpful.
NYSE:IBMLong
by jaxdog
2
Uranium could explode back half of 2024CCJ leader of uranium. CCJ has been developing a text book Livermore Accumulation Cylinder. In the last uranium bull market CCJ developed this accumulation cylinder over 4 years from 2000-2004 and now its doing the same accumulation cylinder from 2020-2024. We are in the final flush out stage 7 before an explosive wave 8 up. The chart on the right shows CCJ/SPX. You can see we are in the final bearish flush-out stage before CCJ starts outperforming SPX massively. The ratio also signals CCJ is a long way from outperforming SPX so the real bull has not even started yet. We can confirm this analysis by the miners underperforming the metal - URA/U.UN. Once the miners start outperforming the metal, the real bull takes place as we are on the APEX of that happening soon. The Junior miners will be the stars of the show when the big capital rotates into the smaller developers and explorers.
NYSE:CCJLong
by AxeCapp
3/11 Monday Trading PlanTrading Plan for Monday, March 11th, 2024 Market Sentiment: Neutral to Bullish Weekly Volatility Risk: High Supports to Watch: Immediate Supports: 5196, 5187 (major), 5181, 5176, 5168 (major), 5163 (major), 5155, 5147, 5140, 5136, 5131, 5126 (major), 5116, 5108, 5103, 5095, 5090 (major), 5084 (major), 5076, 5072 (major). Resistances to Monitor: Key Resistances: 5205 (major), 5211, 5220 (major), 5232, 5241 (major), 5254, 5262 (major), 5270-73 (major), 5280, 5290 (major), 5296, 5309 (major), 5326, 5330 (major), 5348, 5359, 5366, 5377 (major) Trading Strategy: Cautious Trading: The early week dip suggests a more cautious approach for Monday's trading. Err on the side of capital preservation by limiting aggressive trades. Long Opportunities: Look for potential long entries at major support levels, particularly 5187, 5168-63, and 5126. Counter-trend Cautions: (For experienced traders) Be aware of potential short opportunities at resistances like 5262 and 5241, but remember the overall bull trend remains in force. Bull Case: Trend Continuation: The overall bull market is still dominant. Defending 5187 (and ideally 5163) supports would signal that another leg up is likely, targeting 5262+. Adding on Strength: Monitor reclaims of 5211 for potential long entries. Bear Case: Breakdown Signals: A decisive break below 5187, particularly a failed breakdown, could trigger a move down the levels. Watch for shorting opportunities on confirmed breakdowns. News: Top Stories for March 11th, 2024 Stock Market Strength: The S&P 500 continues its record-breaking run, with a strong 7.11% return year-to-date. AI Drives Tech Boom: AI stocks, led by Nvidia's impressive earnings, are boosting the technology sector. Fed Outlook: The Federal Reserve's plans for interest rates are a key focus as investors anticipate potential cuts in late 2024. US Economic Picture: The latest GDP growth projections suggest a potential slowdown, but strong earnings and market momentum are positive indicators. Global Outlook: The IMF's upward revision of global growth forecasts points to a return to normal growth levels. Regulatory Updates: Fed officials are planning new rules to prevent banking crises, and the finalization of Basel III could have significant implications for the sector. Additional Considerations: Historical Trends: Historically, a strong January and February for the S&P 500 tend to foreshadow continued gains over the following 12 months. Inflation Expectations: Monitor potential for a rebounding inflation rate later in the year.
CME_MINI:ESH2024
by spytradingpro
What's going on with all the revisions? Month after month, the United States has been reporting strong labor market conditions and lots of new jobs being created. However, revisions to past data are often less talked about in the media, which might tell a somewhat different story than headline numbers at the time of their announcement. Friday’s report shows that nonfarm payrolls rose by 275,000 in February 2024; meanwhile, gains for December 2023 and January 2024 were revised down by a combined 167,000 jobs. This follows a streak of similar revisions to the previously reported data. For example, combined job gains for October 2023 and November 2023 were revised down by 71,000 jobs. Further, the combined data for August 2023 and September 2023 were revised down by 101,000 jobs. But that’s not where all the revisions end. The list goes on, with combined jobs gained for June 2023 and July 2023 revised down by 110,000 and combined data for April 2023 and May 2023 by the same figure of 110,000 jobs. Similarly, the data for the first three months of 2023 were also revised lower by 162,000 jobs. Consequently, about 721,000 fewer jobs were created than initially reported between January 2023 and January 2024. Illustration 1.01 The unemployment rate in the United States rose to 3.9% in February 2024, reaching the highest level since January 2022. Historically, in the past 70 years, every 1% rise (from lows) in unemployment was accompanied by a recession. Technical analysis gauge Daily time frame = Bullish (losing momentum) Weekly time frame = Bullish *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages. 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.
SP:SPXLong
by Tradersweekly
5