Spx500long
SPX500 will be bullish for the rest of the week? 6 May 19A very nice morning star formation. With market participants expecting the Chair of Federal Reserve reducing interest rate in the near future, we might see 2879 by the end of this month. This is a trend continuation trade.
SPX Approaching Support, Prepare For A Bounce
SPX is approaching its support at 2723.5 (38.2% Fibonacci retracement, horizontal swing low support,61.8% Fibonacci extension) where it could potentially bounce to its resistance at 2809.9(61.8% &161.8%Fibonacci extension).
Stochastic (89, 5, 3) is approaching its support where a corresponding bounce could occur.
Short SPX 500 Next 2-4 WeeksClear sell-off in process. Looking for previous support levels to be reached.
In the next two weeks I see a pullback for SPXS right after SPX finds a brief bottom and consolidates for a short bit my target buy for SPXS is the 21’s and my Target sell is $25.
$29 SPXS coincides with ~2550 SPX. This is possible by Mid-July. (4 1/2 weeks).
SPX S&P 500 2 Week ForecastTrump wants to win re-election. Trump can’t win if the US economy enters recession.
The only way Trump can possibly avoid recession is if the Fed cuts interests rates now. If the Fed waits til the market has tanked in order to cut rates, it will be too late to avoid recession via monetary stimulus that point. Trump needs rate cuts now! In order to get this he is using the tariffs to tank the stock market now to force the Fed’s hand.
The Fed meets June 19, July 19, and September something. They don’t meet in August. These next two meetings are important.
I believe the SPX will find a temporary bottom right around this first Fed meeting in 2 weeks, for a 3% decline.
If the Fed comes out with a surprise rate cut in June or July this could send the market higher (not much of surprise as probabilities are now at 80% for a rate cut in September but would still be a surprise). If the Fed does nothing I’d expect more selling & finding new support lower.
If SPX continues selling after June 19, I’d look for support between 2550 & 2475. I don’t think the Federal Reserve would let the SPX get that low again though...
SPX Approaching Support, Prepare For A Bounce
SPX is approaching its support at 2728.3 (38.2% Fibonacci retracement, horizontal swing low support,61.8% Fibonacci extension) where it could potentially bounce to its resistance at 3012.0(61.8% &161.8%Fibonacci extension).
Stochastic (89, 5, 3) is approaching its support where a corresponding bounce could occur.
SPX - Potential bottom in place - observe 2776Morning traders,
We're witnessing a potential bottom forming.
Key points:
1) We broke the local 2766 resistance, watch for this to become support.
2) the "big" resistance zone will be 2776, this will be the tell
3) Indicators all support potential bottom bounce here
4) BIG money flowing back into semi's - somebody knows something
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SPX500: Reset before all time high? Setup suggest so.1st support - 2737
2nd support - 2650
Interesting time we live in eh?
SPY ES1! Bearish Charts, but Still maybe just a retest of LowsMost see this is as a clearly bearish chart, and they're right.
But, we're still in the area where IF we reverse here, it would just look like a successful retest of the lows from last week. My gut tells me sentiment is consensus bearish, so I'm not getting bearish yet.
My trade is to still look for longs, probably on the way up (a break above the downtrend at $282 at least). And with technicals confirming.
Everyone looking to short the SP500 as we trade 2800. Not meEveryone and their mother is looking to short the SP500 today. Not me as we just ran the stops under that red line.
I would be looking to take a daytrade once it trades above that blue box. If it stays under it sure we go more down.
On the 1h is already showing signs of a possible retrace back and we got a 1h bullish RSI divergence to keep an eye on. So, in my opinion, watch everyone short the shit out of the sp500 and get stopped out on.
LONG spx Approaching Support, Prepare For A BounceSPX is approaching its support at 2801.6 (23.6% Fibonacci retracement , horizontal swing low support) where it could potentially bounce to its resistance at 2958.4(61.8% Fibonacci extension , horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support where a corresponding bounce could occur.
spx Approaching Support, Prepare For A Bounce
SPX is approaching its support at 2801.6 (23.6% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 2958.4(61.8% Fibonacci extension, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support where a corresponding bounce could occur.
You May Have Missed This Count On SPY, 300 SETUP. We would potentially see a bounce of the 1.272, at 2830 for a potential long setup. I would keep a really tight long setup, at 2810, to test out this support.
This means that the next wave 3 is up to 2960, and wave 5 will hit the resistance at 2997-3010
SPY PITCHFORKS READY, WATCH THIS CHART Use this chart to your advantage. we got a GREAT BIG WEEK ahead of us...
SPX to ATH in 2019 ?Looking at SPX with a wide trading range
Retraced to the 618 fib with a perfect bounce but that's is also a V bottom that will most probably be retested
POC sitting at 2070
Bullish volume dropping off meaning we could see a drop in price which also coincides with the indicators showing over bought.
OBV still looking healthy
Could we see all time highs this year? Its possible. The fed might be setting itself up for one last bull run before we see the inevitable GFC.
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S&P 500 Bullish until July?After further analyzing the trend the S&P 500 continues to find support on this uptrend channel as well as the RSI on the Daily time frame. This leads me to believe that the S&P 500 is going to continue to rally higher. Next Target for me is 2992. This of course is negated if the upwards supporting trend line is broken on both the RSI and the price. Eventually we will have to get a break out below the support and undergo a correction and based on the timeline I am looking at we could continue to rally until sometime in July or late June. So for now go long my previous short position was closed at the support level since it did not get broken. So for now longing is the way. :) If you like my analysis give me a like and follow for more content thanks :)
