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Spx500forecast

S&P 500 In Trouble The S&P 500 is showing signs that the uptrend is becoming fragile. As you can see there is a very clear rising wedge pattern developing on the daily chart this is a classic bearish reversal pattern and it indicates a shift in supply and demand from bullish to bearish as the buyers can no longer keep prices propped up. This pattern is not confirmed yet as it has yet to break the bottom support trendline but it still can act as a stern warning to be careful going long here. The bearish signal in my opinion would be a break of the bottom support on large volume this would signal traders are beginning to panic and exit long positions and the selling cascade can have a big impact. Target wise If it does break down I think a retest of the previous all time high makes sense but if you want to go off the technical price target it would technically be at the bottom of the wedge at $410 which is bold... RSI is also showing bearish divergences popping up and we are very extended away from the 200 day moving average it is no surprise to say that stocks just may be overvalued and far too extended and probably ripe for profit taking. Also on the fundamental side of things inflation has been coming out sticker and not coming down as seen in the recent CPI and PPI reports which dampens the expectations of early rate cuts and continues to support the "Higher for longer" narrative which again is not a good thing. Overall I am thinking this is looking extremely dangerous and based on technical and fundamental factors I would absolutely not be loading up on fresh longs especially on leverage I would tread carefully and consider thinking twice before you make a decision. CBOE:SPX AMEX:SPY CME_MINI:ES1!
AMEX:SPYShort
by FlippaTheShippa
2
SPX OULOOKSPX FEB WEEK 5 OUTLOOK - Daily - no doubt we have been super bullish here on SPX for last few week going back to December. but it's around the seasonality cycle and on daily TF that it looks in need of a pullback. Origin - 2 scenarios become apparent when we drop down to origin. 1. a small pull to the zone** 5065.01 - 5027.94** and hold above it. if that happens I will look for longs above the higher end of the zone 2. a deeper pullback to **4972.61 - 4951.93** and if price gets absorbed here, I will look to enter long once price holds above the upper end of this zone.
BLACKBULL:SPX500Long
by Osiris992
S&P 500 INDEX $SPX - Nov. 17th, 2023BUY/LONG ZONE (GREEN): $4531.84 - $4726.36 DO NOT TRADE/DNT ZONE (WHITE): $4380.94 - $4531.84 SELL/SHORT ZONE (RED): $4117.36 - $4380.94 Currently there is bullish momentum, as seen coming off the gap up from Monday close-Tuesday open, however; after this momentum upwards we have only seen price go sideways up to today. Price is resting inside a zone towards the top side where bulls can look for a breakout to start entering in longs. For bearish entries there would need to be some structural breakdowns for the bears to enter as the price approaches the $4380.94 level. Both the bullish and bearish zones can be widened to include the entry levels of the respective zones for early entries. This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas. ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
SP:SPX
by TonyAiello
#SPX SPX Jan 24th after the close updateSPX will be the first update from TheTradersRoom. SPX has hit its desired target we have called yesterday - 4904.50-4909.50 So I call it a perfect hit. Today's reversal came on a heavy selling, also got a black reversal daily closing SPX candle, which if not broken 1c above should mark at least a temporary top. If the price did find its top, then tomorrow's open should be a gap down below 4864 and my min target will be 4840-4835 SPX We have a Panic cycle day on the 26th and Im looking for a first important low on Feb 1st Happy to be back!
SP:SPXShort
by TheTradersRoom
1
Whenever this occurs, it signals the bottom of the market.Whenever this occurs, it signals the bottom of the market. In this weekly chart, the blue line represents the 50 Simple Moving Average (SMA) and the black line represents the 100 SMA. As we can see the 50 has inverted the 100. Whenever the 50 crosses below the 100 on the weekly chart and then price moves above the 50, the market doesn't set a new low until a new high is established this has happened 13 times in the past (now the 14th time). The only exception to this was in March of 2002, where the market failed to hold three consecutive weeks above the 50 SMA. If you are wondering, last weeks close marked three consecutive weeks above the 50 SMA, which now means we have a greater than 92% chance that the market has indeed bottomed. To summarize This has happened 13 times in the recorded chart data we have and 12 out of those times the market had bottomed. 12 times out of the 12 times we had closed above the 50 for three consecutive weeks the market had bottomed. Right now we are in the 14th time and we have closed 3 consecutive weeks above the 50SMA. If we set a new low before a new high, this will be the first time ever after closing three weeks above the 50 SMA I have presented the information for all the times this has happened in history, and you can also verify it. In one of my previous ideas, I mentioned we were back testing a Bullish Megaphone pattern and that we should hold there, which we have done since then (see the link below)." Please like if you find it useful Please note this is not a financial advice.
SP:SPX
by BlackisKing
58
NAS100 & SPX500 - WHAT IS HAPPENING TODAY? (CONFLICTED)We are at a pivoting point in the markets, everything seems to be bullish and yet I have this bearish itch. Markets seem to be overpriced, notably the NQ. However the S&P500, has had a healthier correction and the continuation of its rally makes more sense. Since both markets are highly correlated, it would be absurd to short the NQ while the S&P500 looks so bullish. Why do I want to short the NQ? Technically it hasn't retraced as sanely as the S&P500 but that may be the nature of both markets. The NQ being more irrational (more speculative) than the rest, especially with the AI craze. So here's my two cents worth on the matter! What is on the charts? (follow the steps) 1) Highs that wicked many times in the daily bearish FVG. 2) Significant high that as I'm writing this has been taken out. 3) The retail sales session that took out lows and this is also what has me question the rally. If it is supposed to be bearish info why isn't price dropping? These are the reasons why I do not trade on certain days because I do not see clearly all the time. 4) Asian session lows, a great target for shorts. 5) A retest (or break of the daily FVG). I am not a breakout trader which is why I am not focusing on the bullish outcome because I couldn't tell you how to trade it optimally. 6) The bearish structure (that may never present itself). This all depends on the S&P500, for me to accept a short I need that double confirmation. So right now I accept everything as bullish unless shown otherwise. 7) Asian session lows taken out. 8) Finally the healthier correction that I'd want for the NQ to accept a more bullish approach. As always, happy trading everyone and have a lovely day! ;)
FX:NAS100
by Lexi_Is_Trading
SPX500 - SHORT STRUCTURE IDEA (TARGET 4725)What's on the chart? 1) An old high that marked a strong year for 2023. 2) A rebound in a weekly FVG that earlier served as a bullish signal for prior trading sessions. 3) In the process of that rebound, a 4H bullish FVG was formed which will serve as our target area + fibs. 4) The 2023 high was broken. 5) IMPORTANT: the new high wasn't taken out. Hmmm.. suspicious. That to me is a sign of weakness from the bulls. 6) On this flop of bullish momentum, a bearish 4H FVG was formed. 7) Market structure shift with a low taken out. Do we expect a rebound? Well I don't know. I'm not here to claim that I predict the future like most twitter gurus will imply. But if it does, this is how I see the rest go down. 8) A rebound in the 4H FVG, this is crucial for a short setup because it would imply a lower high. Super important!! Price doesn't need to go that high though to find a short setup. We could just break our imaginary trendline and that's it. 9) The descent into the abyss of short profits (or liquidations lol).
FX:SPX500Short
by Lexi_Is_Trading