The S&P500 is bullish on its 1D technical outlook (RSI = 59.284, MACD = 37.100, ADX = 31.869) and is testing the 5,680 ATH R1 level. This is the 4H timeframe and as you see the current rebound was achieved on the 4H MA200. The 4H RSI is on the same levels as May 7th 2024 and November 3rd 2023, which were consolidations before a major Channel Up formation. Our...
The S&P500 is recovering Friday's lost ground and turned neutral again on its 1D technical outlook (RSI = 46.331, MACD = -24.550, ADX = 22.750). Even though it needs to overcome the Resistance pressure of the 1D MA50, this rebound gives a very positive note as it is being performed on the 1D MA100, which last time was a bounce point on April 19 2024. If the August...
Expected move yesterday close was 5380 Morning Call we said 5380 will Resistance Traget was 5312 I we teach SPX reset everyday, VWAP great tool for direction . Happy everyone in the room made money!! Stay Frosty!
The S&P500 index is on very healthy bullish levels on the 1D timeframe (RSI = 63.385, MACD = 146.190, ADX = 48.596) showcasing in the best possible way the bullish bias of the long term trend and pattern, which is a Channel Up. This month's pullback is perhaps the best buy entry we can have as in relative terms based on the 1W CCI, the index is printing a...
The S&P500 index is neutral on its 1D technical outlook (RSI = 44.135, MACD = 2.270, ADX = 26.567) despite the fact that it made a new All Time High, in fact turning the former R level into S. The uptrend is being supported by the 4H MA50 since the May 2nd breakout and the Channel Up presents a new low risk buy opportunity close to the 4H MA100, ideally when the...
S&P500 has turned bullish on the 1D timeframe (RSI = 58.980, MACD = 2.870, ADX = 28.757) as today it is trading and will most likely close over the 1D MA50 for the third day in a row. Having crossed over the LH, the index has invalidated the bearish sentiment of April and a new Channel up is emerging. If it capitalizes on the 1D MACD Bullish Cross, we expect the...
S&P500 is bearish on its 1D technical outlook (RSI = 37.601, MACD = -44.800, ADX = 58.528) as it touched the 1D MA100 on Friday after more than 5 months. This calls for a short term rebound at least as every previous corrective wave inside the multi month Channel Up that approached the 1D MA100, it rebounded to at least the 0.618 Fibonacci level. Following our...
S&P500 has formed today a Death Cross on the 4H timeframe after 8 months (August 14th 2023), turning bearish on the 1D technical outlook as well (RSI = 37.122, MACD = -81.00, ADX = 53.782) as yesterday it crossed under the 1D MA50 for the first time since November 3rd 2023. Both are technically very bearish developments and according to the last 4H Death Cross, we...
The S&P500 remains bullish on its 1D technical outlook (RSI = 60.356, MACD = 47.470, ADX = 36.597) but today is having so far the strongest bearish 1D candle since December 15th 2022. Having hit the 0.786 Fibonacci level of the Channel Up at the start of the week, this can be a technical correction to at least the 1D MA100 if the 1D MA50 breaks. Consequently we...
The S&P500 is highly overbought on the 1W technical outlook (RSI = 77.490, MACD = 202.930, ADX = 73.429) and hasn't provided the slightest correction under the key 1D MA50 trendline since November 3rd 2023. In spite of that, the index can keep rising without providing such a correction, let alone enable us to time it. Its structure of this nonstop rise since...
S&P500 is bullish on the 1D timeframe (RSI = 61.459, MACD = 50.390, ADX = 31.702) but the RSI has turned sideways for a long time which is the same pattern that led to the July 27th 2023 High. The index has had three major corrections inside the long term Channel Up, ranging from -8.16% to -10.64%. We expect the index to decline by at least -8.00% in the next 1...
The S&P500 is on the second straight bearish 1W candle and if the week closes this way, it will be the first series of red 1W candles since the October 23rd 2023 bottom. The 1D timeframe has already turned neutral (RSI = 51.449, MACD = 32.820, ADX = 32.340) after a prolonged period inside the overbought territory, so we can claim that a medium term correction has...
S&P500 is on healthy bullish technicals both on the 4H (RSI = 63.806, MACD = 7.990, ADX = 31.789) as well as the 1D (RSI = 64.592) timeframes as it keeps rising inside a six week Channel Up. According to the last HH wave we are expecting a top on the 1.236 Fibonacci extension. If that's coupled with the 4H RSI hitting the top of its Rectangle, we will short the...
S&P500 is only a few points away from hitting the HL trendline of the long term Channel Up (started on the October 13 2022 Low). That would be the second time to test the patterns absolute Top. The 1D technical outlook is on standard bullish levels (RSI = 67.767, MACD = 49.570, ADX = 38.770) but the 1D RSI in particular has formed the very same pattern it did...
S&P500 may be overbought on the 4H timeframe (RSI = 72.835, MACD = 15.590, ADX = 49.520) but not yet on the 1D technical outlook as the price hasn't yet made a HH on the two month Channel Up. The 4H RSI does show us though that it is starting that HH peak sequence as it can start a LH trendline like December 14th. We are expecting this wave to peak on a +5.55%...
S&P500 has turned neutral on the 1D technica outlook (RSI = 47.788, MACD = 28.200, ADX = 43.854) as it made a LL for the first time since the October 27th 2023 bottom, marking the end of that two month rally. That was the latest bullish wave of the 15 month Channel Up. According to the three prior peaks that formed HH on the Channel Up, the index should kickstart...
The S&P500 index is now on a healthy green 1D technical outlook (RSI = 65.835, MACD = 82.010, ADX = 81.214) following a much needed technical pullback yesterday that eased the previously overbought technical indicators. On the 4H timeframe, the index is still inside a two month Channel Up, which found support yesterday on the 4H MA50. As long as it holds, we will...
S&P500 is trading inside an Ascending Triangle pattern with the price over the July 27th Top (R1) and bullish on the 4H technical outlook (RSI = 63.128MACD = 5.390, ADX = 23.122). Until the HH and more importantly the R2 level break, we will be bearish, targeting the S1 (TP = 4,550). Below the S1, the 4H MA200 is the target (TP = 4,480). If the price crosses over...