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SPXS

SPX approaching resistance, potential drop! SPX is approaching our first resistance at 2508 (100% fibonacci extension, 38.2% fibonacci retracement) and a strong drop might occur pushing price down to our major support at 2379 (61.8% fibonacci extension). Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:SPX500USDShort
by Tickmill
SPX approaching resistance, potential drop! SPX is approaching our first resistance at 2508 (100% fibonacci extension, 38.2% fibonacci retracement) and a strong drop might occur pushing price down to our major support at 2375 (61.8% fibonacci extension). Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:SPX500USDShort
by Tickmill
Energy and Tech are toast, $SPXS Look for New Lows in the S&PConsumer confidence is high but the only way for this ship to turn around quick is for the Fed to change strategy, that will not happen. Rising interest rates are providing competition to stocks as they have throughout history. To make matters worse, we know the Democrats are going to start the process of throwing Trump's political future in to doubt along with any kind of certainty about the economic conditions going forward. Foreign leaders will start to believe the progressive newspapers (foreign leaders still read newspapers) and think they can just wait the lame duck president out. Mueller may even come up with something to get folks all excited about "collusion". Democratic Socialists will start talking smack about how they are coming after your money and Bezos' money and it may seem believable for a few weeks. The next trading session after my related post on shorting the S&P 500, it gaped higher ran up and offered the perfect short entry as it made another lower double top since the all time high. Now we hover once again below the 200 day MA. In my opinion we are yet to see full capitulation. Neither the energy sector nor the tech sector are ready for a rebound. The SPX Relative Strength Index is losing steam. Folks should buy their Christmas gifts while they still feel rich. At this point it looks like SPXS will be the best way to pay for those gifts as we head into December. Look for the S&P 500 to hit 2530 and possibly even 2400 in the coming 6 to 8 weeks. Then it will be time for a shopping spree in the Tech sector.
SP:SPXShort
by blloyd
S&P500 set to test February lows this weekHaving watched the S&P500 drop to lower lows twice this week and it's becoming clear the market wants to test the low of the February dump at 252.92. We came close Friday with the low of day hitting 262.29, but in my opinion the market needs to break 260 and test the 250s in order to have confidence that low can hold. Back in February we had a much faster dump down, 11.76% from the recent high over 10 trading days, seeing a significant bounce once the bottom was found. We're now 26 days into the pullback form our recent high, with a couple bounces along the way cooling off RSI levels enough to see another leg down. This move is a much slower, and more sustainable move to the downside as we aren't seeing levels get as oversold as fast. How far are we from the February lows? We're pretty close. It would take 4.6% drop from Friday's close to get us to the February low, which is the key support to hold on this test. In my opinion this test is more likely than not to hold, and we are more likely than not to have a bounce before reaching that level. The size of that bounce will be important. The size of that bounce would help us anticipate if we are likely to set a higher low compared to the temporary bottom I expect to find in the coming days, or if we will continue down to set a lower low. We are watching some bullish divergence set up on the daily chart on both the RSI and MACD oscillators, giving further clues to watch the shorter term timeframes for a daily bounce to start. When that bounce comes, I would expect to set a lower high on the weekly chart compared to our all time high, and once thta bounce gets underway we can start to pick potential targets for that bounce. I called 252.92 a key level up above. A break of 252.92 would register as a lower low on the month chart. The last time the monthly chart lost the uptrend was in January 2008, and from there it took the market until March 2009 to find its bottom. I'm watching the 4hr chart here to help me determine when we have likely finally bottomed out on this pullback. You can see for the past few weeks the 4hr chart is in a pretty clear downtrend, with each little bounce just forming a lower high. To turn this around the bulls are going to need to need to bounce to form a higher low compared to the low of this current pullback, and then bounce to break resistance, forming a higher high. That would give us a 4hr trend change, after which we'll zoom out and watch for the daily bounce to get underway. _____ I plan on posting analysis of the mj sector tomorrow. However..... For anybody looking at any individual stock it is imperative to keep an eye on the overall market. The correlation of every individual name and sector to SPY market is very real and the market is showing significant weakness over the past three weeks with warning signs of further potential weakness potential into next week. I'm a member of The Chart Guys community, and one of their founders recently wrote a great analogy: "SPY is the wind and sectors are the ships and individual companies are the people on the ship. We want to go North. It will be MUCH HARDER if the wind is not going North. Ships are going to do their own thing, some faster some slower, but prevailing winds are key. Some people (companies) can get ahead on the ship (sector peers) by walking from the rear to the front, but they are still limited by the ship. Oh and engines are not invented yet."
AMEX:SPY
by McGuireTO
3
S&P hourly chart SPY on the daily timeframe has a daily inside bar and it's second bearish candlestick in a row. Low of the day did hold a long term trendline (blue) from back in January 2016 but also closed below the 200MA (green). So far we're looking at a very weak bounce on the daily and a potential bear flag. The amount of bear volume stands out compared to the bull volume. For details I'm zooming into the hourly chart to better understand what's going on. Into next week we're watching a tightening hourly equilibrium between 274.97 and 279.30. These are the most important levels going into Monday. If we break bearish out of this range we will be looking down to test the low of the dump 270.36 and if we break bullish we're looking up to for continuation of the daily oversold bounce, with resistance at the top of the bounce so far at 281.15. If we break bullish we will certainly set a lower high on the weekly chart compared to our all time high. SPY is a weekly inside bar so if we break the hourly equilibrium bearish we do have one more important support before testing our recent lows: 274.30; however that level is not terribly significant to me as I put more weight into the equilibrium break. Using hourly chart for short term direction over the coming days, Key short term support: 274.97 Key short term resistance: 279.30 On the break of this hourly pattern I will consider playing 3x bull or bear leveraged ETFs SPXL and SPXS. _____ For anybody looking at any individual stock it is imperative to keep an eye on the overall market. The correlation of every individual name and sector to SPY market is very real and the market is showing significant weakness over the past three weeks with warning signs of further potential weakness potential into next week.
AMEX:SPY
by McGuireTO
S&P 500 (SPX) Going Down (Time To Profit)S&P 500 is going down, according to what I am seeing from the chart above. Let's take a look. SPX top is sitting at 2940.91. After touching this level, it has now gone down and tested EMA10 (light blue line) as support. Looking at the history of this chart, it is easy to see that EMA10 always works as support for SPX. But each time EMA10 is broken, support is next found right at the EMA50 line. I marked this with red arrows and lines on the chart. I also marked some dates for you. Here is a longer term chart with additional examples: Expect SPX to break down if EMA10 (2875 is broken). We need to break and close below this level on the weekly candle to active this trade. Our target will be EMA50 (magenta line) sitting at 2729.56. Stop loss. Close above 2940. To further support my bias, I spotted the following signals: Bearish divergence on the MACD. Building up since January 2018 (marked purple line). Bearish divergence on the RSI. Decreasing volume. This is no financial advice. All information here shared for learning and entertainment purposes only. Thanks a lot for reading. Your support is highly appreciated. Namaste.
SP:SPXShort
by AlanSantana
17
Possible scenarios for SPXI think there are 2 possible scenario's for the SP:SPX on a bigger timeframe. Note that this is pure speculation. Only trade after confirmation. Scenario 1: Back to the previous bottom and then bounce back up to form a head and shoulders pattern. Break out to lower territory imminent after a H&S. Scenario 2: A weak market will cause the resistance to break immediately. This is less likely because there are still enough buyers (especially on American markets). I think the bull market is coming to an end with an approaching trade war and an economy that can no longer grow. This is purely fundamental, but the graphs will show us in the future if we are right or not. Remember, trade only after confirmation. The market can still go up!
SP:SPX
by Barteljaap
SP500 100-150 point correction in 2 months*Weekly Time Frame* Setup can take 2 months to show. Also the Daily Time Frame shows some bullish movement, when the daily time frame also turns bearish its time to short sp500 for 100-150 points, maybe more if the lower range breaks. When the Daily Time Frame turns bearish I shall also update this idea. A broke of the range followed by some small side ways trading was always followed by a drop down. Now its showing the same setup again while also the Stoch Rsi looks bearish and Adx shows the bullish trend gets weaker. This tells me that in about 2 months the SP500 will show a small correction of aroun 100 points and maybe more if it also breaks the lower range which has remained intact for over a year so far. When the daily time frame also turns bearish its the perfect timing to short the SP500. I shall update this idea when that happend and also a shall publish a new idea based on the daily time frame.
TVC:SPXShort
by JoshFX1
3