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Spx500forecast

S&P 500 Forecast: Index Pulls Back From 4700 Yet AgainThe S&P 500 has pulled back during the trading session on Thursday to show signs of weakness at the 4700 level yet again. This hesitation is something that we have seen more than once, therefore it suggests that it is going to take a significant amount of momentum to finally break out to the upside. The 50 day EMA underneath sits just below the 4600 level, which is an area that has been noisy here recently as well. That being said, I think the market is probably going to continue to see a lot of volatility as we head towards the end of the year, but I do believe that the “Santa Claus rally” is still going to be the big story. On a pullback, I will be looking at this market for signs of strength and a bounce, therefore I will get long again. I have no interest in shorting this market, we are far too strong and although the last couple of days have been a bit difficult to deal with, we are only down about 0.2% or so from the all-time highs. This is hardly a market that is falling apart, so I think it is only a matter of time before we see value hunters taking control of this market yet again. I think at this point in time it is difficult to get overly aggressive one way or the other, but if we get a significant selling move, then I will be looking to “leg into the position.” I will add slowly and wait for opportunities on signs of recovery to get involved in a market that is obviously heading in one direction over the longer term. I believe that the 4500 level is going to be a bit of a floor in the market, and therefore I think we continue to see plenty of money managers out there willing to pick up value due to the fact that they are chasing those returns. If we were to break down below the uptrend line, then we could go looking towards the 200 day EMA, but it is very unlikely that we will see that happen. If we do, then it could be due to a lack of liquidity as we head towards the holidays. That being said, this is a market that retains its overall shape.
OANDA:SPX500USDLong
by SmoothJB
S&P 500 Forecast: Index Wipes Out Most of Wednesday LossesThe S&P 500 has rallied significantly during the course of trading on Thursday to wipe out the losses from the Wednesday session. We managed to close above the 50 day EMA, as it looks like markets are ready to continue to go to the upside for a longer-term move. All things being equal, this is a market that I think continues to see plenty of interest, as we have seen so much in the way of bullish behavior over the last several months. Yes, the market has negative for a while, but that has been the most recent behavior, and at this point in time it is but a blip on the radar of the longer-term trend. That being said, the market is likely to continue to see buyers looking for value, especially as the end of the year approaches, and people will be looking to reach some type of benchmark for their clients. Because of this, we have the so-called “Santa Claus rally” that typically happens at the end of every year, and I do not see this year being any different. Because of this, I think what we have is a scenario where every dip will be bought into, and we will eventually go looking towards the 4800 level. The market is currently hanging around the 50 day EMA, so that will attract a lot of trading, but at the end of the day the most important thing to pay attention to here is the fact that the jobs number is coming out on Friday, and it will almost certainly cause a significant amount of volatility. The market selling off quite drastically on Friday will almost certainly be bought back into, which is typically the case with the Non-Farm Payroll Friday situation. This is because liquidity disappears, and people will find some type of narrative to start buying the dips. That is what Wall Street does, it finds reasons to go higher. Furthermore, even though the Federal Reserve is pretending like it is worried about inflation, the reality is that the first time Wall Street throws a serious tantrum, they will step in and save the banks. Because of this, it is not really a market so much as it is a bidding war to see who can push things higher over the longer term.
OANDA:SPX500USDLong
by SmoothJB
3
Apple's Elliott probable count, one out of many !!!Double and Triple ZigZag Rules: Double (DZ) and Triple (TZ) Zigzags are similar to Zigzags, and are typically two or three Zigzag patterns strung together with a joining Wave called an x Wave, and are corrective in nature. Doubles are not common, and Triples are rare. Zigzags, Double Zigzags and Triple Zigzags are also known as Zigzag family patterns, or 'Sharp' patterns. Double Zigzags are labeled w-x-y, while Triple Zigzags are labeled w-x-y-xx-z. Both these patterns are included in the list of rules and guidelines below. Only a Double Zigzag is illustrated below. Wave W must be a Zigzag. Wave C of W cannot be a failure. Wave X can be any corrective pattern except an ET. Wave X must be smaller than Wave W by price. Wave X must retrace at least 20% of W by price. The gross price movement of Wave X must be less then 3 times the price movement of Wave W. Wave X must be no more than 5 times Wave W by time. Wave Y must be a Zigzag Wave Y must be greater than or equal to Wave X by price. Back to back and double failures are not allowed. Wave Y must be greater than 90% of Wave W by price, and Wave Y must be less than 5 times Wave W by price. Wave Y must be no more than a factor of 5 times either Wave X or W in price or time. Wave C of Y cannot be a failure. Wave XX can be any corrective pattern except an ET. Wave XX must be smaller than Wave Y by price. Wave XX must retrace at least 20% of Y. The gross price movement of Wave XX must be less than 3 times the gross movement of Wave W. Wave Z must be a Zigzag Wave Z must be greater than or equal to Wave XX by price. Wave Z must be less than 5 times Wave Y by price, and must also be less than 5 times Wave W by price. Wave Z must be no more than a 5 times either Waves XX, Y, X or W in both price and time. Double and Triple ZigZag Guidelines: The largest Wave in Wave W is usually less than Wave W by price. Wave X is usually a Zigzag family pattern. Wave X is usually less than 70% of Wave W by price. Wave X will usually retrace at least 30% of Wave W. Wave X is most likely to be a 38.2% retracement of Wave W. Wave X is next most likely to be a 50% retracement of Wave W. Wave X is next most likely to be a 61.8% retracement of Wave W. The largest Wave in Wave X is usually less than 140% of Wave W by price. The time taken by Wave X is usually between 61.8% and 161.8% of Wave 1. Wave Y is next most likely to be equal to 61.8% or 161.8% of W by price. Expect the time taken by Wave Y to be between 61.8% of Wave W and 161.8% of shortest of Wave W and X. Wave XX is usually a Zigzag family pattern. Wave XX is usually less than 70% of Wave Y by price. Wave XX will usually retrace at least 30% of Wave Y. Wave XX is most likely to be a 38.2% retracement of Wave Y. Wave XX is next most likely to be a 50% retracement of Wave Y. Wave XX is next most likely to be a 61.8% retracement of Wave Y. The largest Wave within Wave XX is usually less than 140% of Wave Y by price. Wave Z is most likely to be about equal to Wave Y by price. Wave Z is next most likely to be about equal to 61.8% or 161.8% of Wave Y. The largest Wave in Wave Z is usually less than Wave Y by price.
NASDAQ:AAPL
by samitrading
SPX500USDAfter trading below its 100-day moving average just a few weeks ago, the major US stock index has been roaring ahead for the past five weeks, rising in value during this time by about 8%. The end of last week saw the price reach another new all-time high, after having traded above the round number at 4700 for the first time. The weekly candlestick was solidly bullish and closed not far from the top of its price range. This, and the record high, are bullish signs. The S&P 500 Index looks likely to remain a good potential buy.
OANDA:SPX500USDLong
by SmoothJB
SPX500: my intraday scenario using 81strategyHi Traders, This is my view on this pair for the next days on #SPX500 using my 2 intraday strategies. (I’ve just shared my fully explained 81strategy on Tube) I remind you that this is only a forecast based on what current data are. Therefore the following signal will be activated only if specific rules are strictly respected. If you follow my strategy you will be able to identify the right filters and triggers to enter correctly the market and avoid fake signals. I really hope you liked this video and I would like to know what do you think about this analysis, so please use the comment section below this video to give me your point of view. Thank You ——————————— Pit from Trading Kitchen
CME_MINI:MESZ2021Long
by kitchen_trading
S&P500 Long and Short SetupS&P 500 Weekly Plan Long Setup: 🔵 Entry Level: $4598.0 🟢 Take Profit: $4645.3 (2.05 R) ⛔ Stop Loss: $4574.9 Short Setup: 🔵 Entry Level: $4651.8 🟢 Take Profit: $4599.4 (1.59 R) ⛔ Stop Loss: $4684.7 Reasons: 1) A clear setup would be opening a long position at what was recently resistance, as it is likely to be turned into support. However, this is too obvious of a setup and I believe a lot of traders will place buy orders there, so I believe there may be a fake-out. As such, I will be waiting for a retest of that level and if it holds, I will open a long order. I am mapping this level at the moment, so that I am prepared. 2) The short order is placed at the upper trend line of the ascending channel. It has already been respected 5 times, so I will keep opening short orders until it either fails (price goes through it) or we stop testing it. With that being said, the entry may move up depending on how the price reacts in the next couple of days
CAPITALCOM:US500Long
by Quant_
SPX500 Short SetupS&P500 Short Setup 🔵 Entry Level: $4577.3 🟢 Take Profit: $4532.0 (1.31R) ⛔ Stop Loss: $4612.0 Reasoning: 1) We formed a double top and while the Risk-Reward-Ratio is not very favorable (just 1.3) the setup does provide for quick scalping. 2) With that being said, considering the spread on the platform you are trading (or commission) and the weekend fees (if the target doesn't get hit which is very likely) this trade wouldn't make too much sense, but I decided to share my thoughts just in case.
CAPITALCOM:US500Short
by Quant_
SPX500USDThe S&P 500 pulled back just a bit on Tuesday, but then turned around to show signs of life again in order to form a hammer. If we can break above the top of that hammer, then we have some work to do in order to get long again. The 50-day EMA above is starting to reach lower, and it looks like we are seeing the 50-day EMA walks right along a downtrend line as well. In other words, it would make sense that we could see selling pressure. If we can break above that downtrend line though, that would obviously be a very bullish sign. The S&P 500 has a huge area just underneath that has a lot of order flow, with the 4250 level underneath offering significant support. In fact, if we were to break down below there, then I would be a buyer of puts as it could open up a bigger move to the downside. That is an area that has been very important as of late though, so I would anticipate that there should be plenty of buyers. In fact, we dipped into the trading region just above there and turned around so it could be the beginning of something a little bit more constructive. The US dollar could have its effect as well, because if the US dollar starts to skyrocket, sometimes that works against the value of stock markets. We are still very much in an uptrend but have been very choppy for a while. Because of this, I think we have a little bit of work to do in order to build up any type of momentum, and the next couple of days could be rather difficult. That does not mean that anything has changed, other than the fact that we may need to do a little bit of work. Because of this, do not get involved with a huge position, and only build up that position once the market starts to work out in your favor. The overall attitude of the market is higher over the longer term, and I think that is what we will eventually see. Adding more credence to the 4250 level is the fact that the 200-day EMA is starting to reach towards that area.
OANDA:SPX500USD
by SmoothJB
1