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Spx500long

SPX Expanding Triangle. Pivot point (Weekly chart)In the weekly chart we observe another touch on the expanding triangle. This is a zoom in and cleaner TA from my previous analysis. I am trading the following scenarios: 1) Short. If this scenario is right, expect considerable retracement, following the direction of the red arrow. For me, it is the most likely scenario right now. There is very clear bearish RSI divergence on the weekly chart, in an expanding structure. 2) Long. If the expanding triangle is broken to the upside, in the retest of the trendline is time to go long. Be ready, this could very well happen. Thank you @RHTrading for the feedback.
OANDA:SPX500USD
by blondengineer
13
Recent strike in Iraq: Gold and SPX 500 Analyze The US killed this morning European time the Iran general Qassem Suleimani in Iraq. General Suleimani was a prominent person in the Middle-East and right hand of Iran's Supreme leader Ali Khamenei. It is very interesting to see how $Gold (+2%) and $Bitcoin (+6%) are correlated and both assets have surged. Meanwhile, the S&P Index has dropped by -1.7%. What does it mean? Investors are worried, as stated by Vice-president of U.S. Joe Biden, that President Trump "tossed a stick of dynamite into a tinderbox". Means, that we can expect some counter-measures from Iran and its allies. In these measures, investors see uncertainty in global markets and institutional money flows into more conservatives assets such as $Gold The most interesting for me is how uncorrelated assets are behaving in this conflict. I am talking about relationships among the U.S. Dollar Index and Gold. If U.S. Dollar is rising, Gold should dropping, but since the conflict has arisen, both are growing. I have expected rally in $Gold as I have outlined a bullish scenario on December 24th. Gold and Bitcoin are very correlated assets and we can see that there is some relief in a bearish downtrend since July 2019 in Bitcoin. Overall we can see how technical analysis is supported by “fundamental news” which put an injection into more rally. As a new year with also new Q1 2020, we can expect some bullishness in Gold and take out last highs in 2019 for continuation in the rally. Bitcoin should follow suit not only because it is correlated with Gold but also that Bitcoin will have in 132 days Bitcoin Bock Reward Halving which should tremendously increase Bitcoin price. ____________________________________________________________________________ I do a daily observation of major currencies in forex and crypto. Do not miss any move, high-valued analysis or educational content. Telegram: t.me Twitter: twitter.com
OANDA:SPX500USD
by UnknownUnicorn6034472
4
This is going to hurt some feelings either way How bout those algos this morning huh? Aggressive. Obviously this is going to resolve one of two ways. Bear case - We retested the long term trend line today barring any face rip move higher. With the $320 target hit (albeit for literally 1 minute) and floating around this price level we should head down to retest the gap if we do head lower. If for some reason we break the intermediate term trend line and head back down to the $311-$309 area watch for that head and shoulders i posted about a week or two ago. The fact of the matter is the market structure is garbage and we have gaps all the way down to $292. So if something catastrophic happens we could head back down and retest the $300 former breakout area, but i see that as unlikely. What i do see as more likely is a sell the news event on this "Phase 1" trade deal consider we have a signing date, but no one's even seen the details yet. So that tells me the administration is trying to preemptively do some damage control. We'll see where the big money wants to take us. We may see some volatility in the beginning of the year as firms post gains for 2020 they didn't book for 2019, and in that case look for a minor pullback to the gap fill area as i mentioned earlier. If we bust through that look for support around $314. Bull case - All the big money comes in the 2nd and sees everything as cheap and starts buying. There is what looks like a big ass bullflag printing on /ES. The problem is literally every retail trader who knows what their doing probably went short yesterday. And if we're all expecting a move lower that's when they take our lunch money and rip everything higher, and honestly i see that as more likely. They'll pin it on the "phase 1 trade deal" being signed and we're off towards $3500 in the SPX to further elongate this wizard of oz market we're in. Good news is good news, bad news is good news, and no news is good news and then we hit the start of a new earnings season. We'll see how it plays out but i guarantee some people are going to get burnt either way we go. Oh yea, forgot to mention - The small caps are positive today, again something i use as a leading indicator. This is not trading advice. All of this is based off of TA and should only be construed as opinion.
AMEX:SPY
by merkd1904
Possible reversal on the major indices So after the last few trading sessions melting upwards in thin volume it doesn't take much to reverse and plow through that thin volume. But, today's selling was light, and also thin volume. If you were just going off the charts it does show that we had a daily reversal and then pivot confirmation from Friday. Today's daily ended just below the long term trend line i noted in my last few posts. On the intraday we hit the .5 fib retracement on the nose and then finished basically at the lows of the day with what i see as a short cover rally there at the end. In SPY we filled the gap, but in the SPX we did not. Keep that in mind. That is bullish. BUT, on the other hand we did have an impulsive break down from an ascending wedge as well. And on top of that we went up and tried to retest the trend line. We did retest the former breakout area around 320 on SPY which was a retracement target i had. Now obviously this could go one of two ways. I see us either gapping up tomorrow morning and trapping everyone who was frothing at the mouth to go short or gapping down either into or through the gap on SPX and into the 320 resistance area on SPY. IWM did not show as much sell strength and actually was at it's 100 period average volume, which could be a leading indicator. It hit the top of a previously broken trend line and bounced directly off of it after printing a reversal candle Friday. I'm 90% sure this pullback is just that, a pullback. It's most likely people taking profit or re-positioning. If we do break or gap down below $320 expect a test of the gap around $317.50. Also, don't get sucked into this. Just like a lot of traders are trapped at the tops of stocks like TSLA and AMZN this could turn right around and rip your face off once institutional money gets back in the driver seat. This is all barring some huge macro event like the trade deal or repo markets blowing up and if that's the case we have a completely different story on our hands. This is not trading advice. All of this is based off of TA and should only be construed as opinion.
AMEX:SPY
by merkd1904
1
SPX SPY S&P 500 Long Target 3,250 - 3,500From the 50% retracement of the S&P, we're able to project the target of 3,250 - 3,500 for SPX (325 - 350 for SPY). Before this happens, I think it's possible, although not likely, that the S&P reverses to 2,640 level before going up and forming an inverted head and shoulders. Note: I'm not a bull or bear nor did I factor fundamentals into my analysis (nor did I try). Yes I'm aware of the national debt crisis and some economic indicators screaming incoming recession.
AMEX:SPYLong
by ttrending
2
ridethepig | SPX Market Commentary 2019.13.12An end of year update for US Equities with valuation targets at 3240/54 I am tracking for an overshoot into the 3200 handle to sell into. For those tracking the current flows, the most important chart I have been showing to all clients is the 2s 5s curve: The major top in USD will help for a few months at most, as soon as we enter into the next chapter in the economic cycle it will be too little too late. With tail risks making positioning very tricky, here we have a very good macro chart showing the high bar for any growth shock and how it weighs heavy on risk appetite. All year long expectations around monetary policy easing have been in the driving seat while geopolitics shouts loudly from the sidelines. The protectionism we are seeing is already starting to show effects on global growth and with a soft backdrop the exposure to these shocks enhance. Rotation is in full swing as we see large large hands move from equities to bonds, and from higher risk credit to lower risk, we naturally are seeing a rotation from cyclicals to defensives and finally into safe havens like Gold, Yen and Swiss Franc to a lesser extent. The map is clear that we are still yet to have a relative breakout in Cyclicals vs defensives as shown below: With Yields miles ahead of the moves lately we are approaching a major breakout in US banks, a relative breakout here of the downtrend will be significant going into year-end. On the FX side, USD devaluation will help and yields finding a floor indicate smart money is turning the titanic. It should now be a matter of 'when' rather than 'if' Utilities are going to breakout assuming we do not get any major updates on the impeachment front. Defensives still look relatively strong, despite technical patterns starting to top in things like Consumer Staples: Lastly the infamous Long Term Consumer Staples Chart: Thanks all for supporting these ideas with likes and jumping into the conversation with your ideas and charts in the comments. Good luck those trading US Equities into year-end and positioning for 2020, we will update the chart as we go through the coming weeks with a technical dissection of 2020 flows and targets.
OANDA:SPX500USDShort
by ridethepig
3
SPX500 selloff PENDING to 3070 *history repeats itself* MID-LONG WHEN IN DOUBT, ZOOM OUT! ON the SHORTSELL we're looking at possibility 1-2 (maybe even 3 ATHs on SPX500 index) to follow suit -- a consolidation in what is/will be a a continuation of this bullish priceaction we've been seeing; the same I've been calling for since the start of Q4 yet we are almost at the apex, the mountaintop is approaching which will *(presumably after the holidays)* lead to further bullish priceaction followed by a selloff treading us down toward the $3070.5 area, a bearish dump which should approach fast & furiously if the pink trendline from DEC '17 is any indication, we're seeing a repetition in priceaction that will ultimately lead to a retracement -- though keeping it on the EMA for you forex swing traders , SPX500 has had an UNDOUBTEDLY FANTASTIC RUN THE PAST 2-3 QUARTERS, FOR ALL OF 2019! yet all good things must come to an end. Remember this publication is LONG so although the slope between the green TP line & current price seems miniscule, it could actually take a while (pointless to speculate timeframe) but >30D before it reaches that apex leading us to the selloff @ 3070.5 Great thing about stock predictions is that much less volatility == much more predictability == much less $ROI due to lower risk/low reward. Like riding a bike with training wheels on flat terrain as opposed to riding a mountain bike on gear 10 up everest (forex trading wallst vs forex trading @coinmarketcal) This could very well be fantastic news for $crypto priceaction as (much similar to all other commodities) it parallels precious metals, XAU, etc. as a means of FUD for those looking to liquidate assets in times of speculative uncertainty aka FUD. I'll leave it at that for now. Also, $BNB priceaction looking solid for entry (defer to linked publication below) but I digress. Peace & Love. Happy Holidays & New Years -- will follow up with daily publications (as promised) after the Holidays circa Jan 10-12th. Disclaimer Not financial Advise. Please invest wisely & always set stop-losses. -@a1mTarabichi
OANDA:SPX500USD
by a1mtarabichi
S&P 500: Santa Claus RallyHello everybody! PrimeXBT is here again with another technical analysis breakdown, and today we are taking a look at Standard and Poor's 500 Index. News and Fundamental Analysis: While the Asian markets are currently subdued, Wall Street is caught within a firm and unwavering uptrend. The S&P 500 hit a sixth consecutive high on Thursday — its longest streak since January 2018 — and it closed at a record high along with the Nasdaq and the Dow Jones. On the other hand, investors still do not understand what is included in the “Phase 1” of the trade agreement between China and the United States. Overall, this is a worrying sign that the US economy may be slowing down again at a time when the Fed has stopped its monetary policy softening. It should be noted that such signals act as a leading indicator of business cycles, and therefore market players usually pay close attention to them, but not now. Technical Analysis: Currently, SPX is hitting strong resistance that’s coming from 1.618% Fibonacci — which is a resistance level. The price action combined with the Relative Strength Index is staying strong, but BTC has formed a bearish divergence, which often indicates that a trend reversal is forming from bullish to bearish, and a downtrend or valuation adjustment could soon follow. Such price action was seen in May of 2015 . Once the price reaches the resistance level, a rejection could cause a fall to 1.272% Fibonacci which is our support level. Support level: 3100 Resistance level: 3300 Day's range: 3192.3 — 3205.5 Be careful though, don't forget about capital & risk management. Keep an eye out for more PrimeXBT trading signals for SPX and other assets.
TVC:SPX
by UnknownUnicorn3931771
3