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Spy500

SPX touched the 200 EMA on 4h and got rejected. Time to go up!SP:SPX had a solid retracement today and while the situation may seem bearish on smaller time frames, if we switch to the 4h time frame we can clearly see that technical analysis suggests we are still in a bullish trend. A rejection happened at the support level of 200 EMA. Last time SP:SPX broke the 200 EMA support level was in February 2020, just before the first covid lockdowns happened. As long as SP:SPX holds the support level, we're going up from here!
SP:SPXLong
by Ganbu
8
SPY 500 Price Target PredictionHere is the Price Target we will most likely in Monday - Wednesday. 50 Day Moving Average is creating support for the downtrend, and once the price dips right below it, it bounces back up. 50 DMA is expected to be around 441.50 and the lowest price we should reach is 439.50 - 441.50. If we take a look at the Short Squeeze Momentum Graph, we can see that we are in the red levels, which means we should expect red in the coming days until we reach green. Also, we hit four negative days in a row going into five. If we go into five which we most likely will, it will be a first time in 6 months we hit five consecutive days going negative. If we take a look into the RSI, 2 Hour Graph, we can see that it's almost oversold, we should expect the RSI to hit 20-25 considering this is allegedly the most volatile month of the year in the Stock Market. Once it hits the oversold levels below 30 going into the low-mid 20's, we should expect a huge bounce probably to the overbought levels. As for the actual chart, it's hard to say this but, if we do, theoretically bounce on Monday which we probably won't, we may create a Head and Shoulders pattern. If we take look at the chart and focus from August 23rd to now, we can see that it already formed a shoulder, and it already formed a head. If we bounce on Monday, we will most likely form another shoulder and should see a huge sell off. AMEX:SPY
AMEX:SPY
by Poseidan
US Market Technicals Ahead (9 August – 13 August 2021)With U.S. CDC (Centers for Disease Control and Prevention) reversing its stance on mask for vaccinated people amid the resurgence of the coronavirus pandemic, Investors will be watching closely on the main U.S. economic data reports on consumer and producer price inflation for any potential scale back of stimulus by the Federal Reserve. Several Fed officials are slated to speak during the week and their comments could help clarify the Fed’s position on tapering. Earnings will continue but will be fewer in number as earnings season winds down. Here’s what you need to know to start your week. S&P500 (US Market) The US market ended at all time highs on Friday, after monthly U.S. jobs report came in better than expected, as the economy continues to navigate out from the COVID-19 pandemic. The benchmark index $SPX ended the week gaining +0.79% (+34.9 points), closing at 4,438 level. $SPX remains above its multi-month long trend channel that was earlier highlighted. Every break out of $SPX trend channel resistance has been met with a rejection (6 times since 2021). It is also important to note of the diminishing volume observed, reflecting a short term price-volume divergence in this run up. The immediate support to watch for $SPX this week is revised up to 4,370 level; a breakdown of two weeks price support. Inflation numbers The U.S. consumer price index and the producer price index released Wednesday and Thursday, respectively will provide an insight into the current pace of inflation, one of the key factors along with the labor market, that the Fed looks at when making its monetary policy decisions. CPI is expected to moderate slightly after last month’s jump of 0.9%, the strongest gain since June 2008. The Fed has said the current surge in inflation is just temporary, but market sentiment has been hit by fears of higher inflation resulting in a sudden tapering. Friday’s stronger-than-expected nonfarm payrolls report was the last before the Fed gathers for its annual meeting in Jackson Hole, Wyoming, at the end of the month to discuss policy and decide future stimulus strategy. The upbeat jobs numbers coupled with uncomfortably hot inflation data could prompt Fed officials to announce plans to begin tapering bond purchases as soon as September, the first step down the road to eventual interest rate hikes. Earnings wind down Earnings will continue in the coming week, but the number of companies reporting will tail off as earnings season continues to wind down. Some of the names reporting include AMC Entertainment ($AMC), Coinbase Global Inc ($COIN), Sysco ($SYY), Chesapeake Energy ($CHK), eBay ($EBAY), Wendy’s ($WEN), Lordstown Motors ($RIDE), Walt Disney ($DIS) and Airbnb ($ABNB). It has been a stellar earnings season – out of the 427 companies in the S&P 500 that have reported earnings so far, 87.6% beat analyst expectations, the highest on record. Bitcoin higher as sentiment recovers Bitcoin rose to its highest level in two months on Sunday as market sentiment recovered but remined fragile. The digital currency hit $45,284, its highest since mid-June. One area of uncertainty for crypto investors is the U.S. infrastructure bill currently making its way through Congress, which contains a cryptocurrency tax provision, tacked on at the last minute.
U
by jfsrevg
US Market Technicals Ahead (2 August – 6 August 2021All eyes turn to the US July jobs report due this Friday, with investors on the watch for any catalysts that could encourage the Federal Reserve to tighten monetary policy sooner. Earnings will continue to dominate headlines, with more than a quarter of S&P 500 companies set to report this week. Berkshire Hathaway ($BRK.A), General Motors ($GM) and Uber ($UBER) are the headlining companies due to report their quarterly result. The crackdown by Chinese market regulators could continue to be a major story and in the UK the Bank of England is to hold its latest policy meeting where it is likely to echo the Fed’s view that there is still some way to go before stimulus can be reduced. Here is what you need to know to start your week. S&P500 (US Market) The benchmark index $SPX ended the week with a muted -0.10% (-4.3 points), closing near its peak at 4,400 level. $SPX remains above its multi-month long trend channel that was earlier highlighted. Every break out of $SPX trend channel resistance has been met with a rejection (6 times since 2021). The immediate support to watch for $SPX this week is revised up to 4,310 level; the 50DMA short term support level, along with a 75% retracement within its trend channel. July jobs report Friday’s U.S. non-farm payrolls report will provide fresh clues on the strength of the economic recovery and inform the outlook for Fed policymakers. Economists are expecting the economy to have added 900,000 jobs in July after a forecast-beating 850,000 in June. Last week Fed Chair Jerome Powell said the job market still had “some ground to cover” before it would be time to start scaling back stimulus measures the central bank enacted in the spring of 2020 to combat the economic fallout from the coronavirus pandemic. In June Fed officials began debating how to wind down bond purchases but there is no clear timetable yet for when it will begin pulling back emergency market support measures. Earnings Investors will get a fresh batch of earnings reports in the week ahead from companies such as Eli Lilly ($LLY), CVS Health ($CVS) and General Motors ($GM). Expectations of strong future earnings have been the key driver of the S&P 500’s gains this year, according to a Credit Suisse analysis of the index’s year-to-date performance that compared change in stock valuations with changes in expected earnings. U.S. stocks fell on Friday and registered losses for the week as Amazon ($AMZN) shares dropped after the company forecast lower sales growth, but the S&P 500 still notched a sixth straight month of gains. China crackdown China’s recent regulatory crackdown has frightened investors away from Chinese stocks and left tech companies operating in an uncertain environment. China has been tightening its regulatory grip on overseas share issuance after it launched a probe of ride-hailing giant Didi Global last month, just days after its listing in New York. Following a sharp selloff authorities moved to calm market jitters which put a floor under stocks and the yuan, for now. In the coming week investors will be looking to Chinese PMI data amid growing concerns over a slowdown in the world’s second largest economy, which could be the next test for markets. Bank of England meeting The Bank of England is expected to keep stimulus running at its current pace when it meets on Thursday, despite some disagreement among policymakers over the size of its bond-buying program against a background of rising inflation and an improving economy. Officials are likely to raise their inflation forecast for this year, but the outlook for growth remains uncertain amid concerns over the delta variant.
UShort
by jfsrevg
S&P 500: Correction started?The S&P 500 was able to extend its rally slightly to a new record high of 4,394 points. There it encountered the rising containment line along the highs of April 16 and May 7. This offered a welcome opportunity for profit-taking, which gained significantly in momentum at the start of the week. So far on a seasonal course So far, the index has stuck to our preferred schedule of a weak phase starting in mid or late July in line with the typical seasonal pattern. Overbought technical market indicators, a conspicuously weak market breadth and euphoric sentiment spoke in favor of this medium-term bearish scenario. The price is now testing the support area at 4,240 / 4,258 points, which results from the last intermediate high and the 50-day line. A day close below that would provide confirmation of the favored correction with the next target range of 4,164 points. Below that, there would be downside potential in the direction of 4,057 points. Chances of a rebound The extremely oversold situation for a very short time allows a technical recovery from the current support. We see potential recovery goals at 4,289 points and 4,323-4,341 points. Only then would the short-term chart brighten up and a timely renewed test of the record high at 4,394 points would likely. Note: Despite careful analysis, Global Investa does not accept any liability for the content, topicality, correctness or completeness of the information provided. The information provided does not constitute investment advice, purchase recommendations or investment brokerage.
SP:SPX
by Michael-Neubauer
US Market Technicals Ahead (19 July – 23 July 2021)Despite solid results last week as earnings season ramped up, investors have been shifting their focus to data releases with global economic growth beginning to show signs of fatigue while many countries, particularly in Asia that are struggling to curb the highly contagious Delta variant of the coronavirus. The spectre of elevated inflation, which the market has long feared, is also haunting investors. Treasury yields were plunging, signaling fearful investors are padding their portfolios with Treasuries. The second-quarter earnings continues this week, with companies such as IBM ($IBM), Netflix ($NFLX), Intel ($INTC), Johnson & Johnson ($JNJ) and Twitter ($TWTR) reporting their results. Other key data to follow include: US building permits and housing starts. Here is what you need to know to start your week. S&P500 (US Market) The benchmark index $SPX corrected -0.99% (-43.2 points) to close at 4,328 level during the week, and perceived safe haven assets, including the yen and gold, edged higher amid fears of rising inflation and a surge in coronavirus cases, while oil prices fell on oversupply worries. The initial break out of $SPX trend channel resistance is met with rejection for its 3rd time as cautioned in the previous week. The channel support is currently priced at 4,240 level, -2% away from existing level. The immediate support to watch for $SPX this week is at 4,285 level; an immediate break of support level established this month.
U
by jfsrevg
SPY Bounced! - Key areas to look for SPY had a big gap down today all the way down to 427.46 (-1.65%) but managed to bounce back at close. Here are the key areas to be watch out for. - A have some good support at the 21day EMA (426.75ish) and could play it off the bounce there for a short term play to the upside. -A close below the 21day EMA would be a bearish sign and we could see it testing 50day EMA again as you see in the chart. If we close below 21day EMA, I would play it to the downside with a short term target on the 50DAY EMA. -Going all the way down to the 50DAY EMA would be considered as a small correction. That's about another 2.44% downside from where we're at now. If we somewhow get a mini correction all the way down to 50DAY EMA, this is where I would load up on calls as this has been a major major support in the past couple months. AMEX:SPY
AMEX:SPY
by Ross-Santos
US Market Technicals Ahead (5 July – 9 July 2021)US Markets will be closed on Monday in observance of Independence Day. Investors will be waiting for the FOMC minutes due on Wednesday for further clarification on the next monetary policy steps after a hawkish shift prompted market turbulence last month. Elsewhere, the European Central Bank (ECB) will also publish the minutes of its latest meeting, while China will release what will be closely watched inflation figures. Here is what you need to know to start your week. S&P500 (US Market) The benchmark index $SPX rallies furthered its all time high establishment, gaining +1.48% (+63.4 points) to close at 4,439 level during the week. The price ascend have allowed $SPX to break out of its trend channel resistance for the 3rd time in since February 2021. It is important to remain cautious of the existing rally, as every breakout of the highlighted channel is met with price-volume divergence weakness, along with a correction towards its channel support. The immediate support to watch for $SPX this week is at 4,220 level; a resistance turned support level, also an approximate of 4 ATR14 away from existing volatility, which is unlikely to be tested this week. Fed minutes The minutes of the Fed’s June meeting, when officials opened talks on tapering bond-buying and indicated interest rate increases could come sooner than previously anticipated, are due to be released on Wednesday. The minutes are coming on the heels of Friday’s nonfarm payrolls report, which showed that the U.S. created the most jobs in 10 months in June, indicating that the economy closed out the second quarter with strong momentum as the reopening continued. The robust data did little to ease concerns that a strong recovery and rising wages could prompt the Fed to begin unwinding its easy money policies sooner than expected. ISM services data The ISM index of service industry activity is set to be released on Tuesday and is expected to show continued strong growth after hitting a record high in May amid a reopening made possible by vaccinations against the coronavirus. The report could also underline ongoing labor constraints as hiring continues to lag, leading companies to offer higher wages to attract staff. ECB minutes The ECB is to publish the minutes of its June policy meeting on Thursday. ECB-watchers will also be on alert for news of several meetings due to take place in the coming weeks as part of the banks review of its monetary policy strategy. The bank wants to revamp its inflation target – currently set out close to but not above 2% – and is aiming to get the review done by September. On Wednesday, euro zone powerhouse German is to publish industrial production figures and the European Commission is to release updated economic forecasts for the European Union. China inflation China is to release data on both consumer price inflation and producer price inflation on Friday. Market watchers will be paying close attention to the cost of raw materials, which have soared due to higher commodity prices, and whether these increases are being passed onto the consumer. Prices are jumping in China and around the world, adding to fears that a wave of inflation could threaten the global economic recovery if it continues.
U
by jfsrevg
US Market Technicals Ahead (28 June – 2 July 2021)The second quarter is ending. Global stocks are on track to post their second strongest H1 gains since the turn of the century, but the second half looks harder to predict. All eyes turn to the US employment report on Friday, with investors hopeful for signs of improvement in the labor market after two months of slower than expected jobs growth. Meanwhile, the ISM Manufacturing PMI survey should point to a strong pace of expansion in factory activity, not far from March's 37-year high and despite the ongoing supply constraints. President Joe Biden’s $1.2 trillion infrastructure deal will continue to boost U.S. markets, but other concerns remain. Elsewhere, OPEC+ meets on Thursday with expectation to offer guidance into the coalition's production plan. Energy traders are anticipating another production increase as the demand outlook continues to recover. Here’s what you need to know to start your week. S&P500 (US Market) The benchmark index $SPX rallies to all time high, posting a weekly gain of +3.17% (+131.8 points), closing at 4,285 level. It is important to remain cautious of last week's rally as volume displayed was lacking, and seasonality is still in play. End of quarter 'window dressing' by portfolio managers could be a reason for the 'mark-up'. $SPX have now rebounded off the breach of its 20D and 50DMA (key levels highlighted last week), remaining within the trend channel established since early November 2020. The immediate support to watch for $SPX this week is at 4,135 level; a pivot low confluence with trendline support break. Jobs report The June nonfarm payrolls report is expected to show that the economy added 675,000 new jobs, pushing the unemployment rate down to 5.7% from 5.8%. With concerns over rising inflation and the strength of the recovery to the fore of investors’ minds, markets will also be looking at other labor market statistics, including wage growth and labor force participation. Last week Federal Reserve Chairman Jerome Powell reiterated the central bank’s commitment to encouraging a "broad and inclusive" recovery in the labor market, adding that there is still a long way to go, and that support is still needed. Economic data Ahead of Friday’s jobs report, markets will get updates on pending home sales, ADP private sector payrolls, jobless claims and ISM manufacturing activity. The ISM data is likely to underline strains on the supply chain that are pushing up costs, boosting the chances that inflation will remain at higher levels for longer. OPEC+ meeting The Organization of the Petroleum Exporting Countries and allies, known as OPEC+ will hold a series of meeting in the coming week to review the situation in the global oil market ahead of an official meeting on Thursday. Thursday’s meeting is expected to result in another boost in output as the demand outlook continues to recover. Oil prices climbed to their highest since October 2018 on Friday, putting both benchmarks up for a fifth week in a row.
U
by jfsrevg
US Market Technicals Ahead (14 June – 18 June 2021) The Federal Reserve two-day policy meeting is the main event event for the markets this week, although the central bank is not expected to take any action but maintain an ultra-loose monetary stimulus. All eyes will turn to comments from Fed Chair Jerome Powell for clues about the central bank's latest view on inflation. While the outcome of the Fed meeting will take the limelight, investors will also be looking closely at economic data on U.S. retail sales and producer prices for an update on the strength of the economic recovery. Here is what you need to know to start your week. S&P500 (US Market) $SPX rose +0.41% (+17.4 points) for its third straight positive week, closing at a all time high level of 4,250. Investors are giving growth stocks another chance as bond yields come down. The 10-year Treasury went below 1.43% on Friday, a three-month low. Stock markets are likely to tread water, with investors reluctant to take new positions ahead of Wednesday’s Fed statement which will be scrutinized for clues regarding its timetable for raising interest rates. $SPX continues to reflect a minor bearish divergence as highlighted last week. The immediate support to watch for $SPX is now at 4,165, a breakdown of its classical support, along with 20D and 50D major moving averages. Fed meeting Investors will be zeroing in on the Fed's statement at the conclusion of its two-day policy meeting on Wednesday against a background of persistent concerns over whether inflation spikes could pressure the central bank to start tapering its stimulus sooner than expected. The Fed has repeatedly said that near-term price spikes will not translate into lasting inflation and Chairman Jerome Powell is expected to stick to this stance and reassure markets the Fed’s policy will remain accommodative. While inflation numbers are rising, the recovery in the labor market remain sluggish. The economy added 559,000 jobs last month after gains of just 278,000 in April. That left employment about 7.6 million jobs below its peak in February 2020. Most analysts are not expecting the Fed to begin discussing scaling back its asset purchase program before its annual conference in Jackson Hole, Wyoming, in late August. Economic data Away from Fed meeting, the U.S. is to release May data on retail sales and producer price inflation on Tuesday. Also out on Tuesday is industrial production data which will be closely watched amid issues over supply constraints and labor market shortages. This could translate into increases in producer price inflation. The economic calendar also features reports on housing starts and initial jobless claims. Data on Thursday showed the number of Americans filing new claims for unemployment benefits fell last week to the lowest level in nearly 15 months as the reopening continues. Meme Stocks Mania Meme stocks could also remain in the headlines after a volatile ride last week. GameStop ($GME) hit a high of $344.66 Tuesday and dropped as low as $206.13 Friday before closing at $233.34 per share. Besides meme stocks, Treasuries could also be in focus after an unexpected slide in yields. There was a major move in the rate of the benchmark 10-year, watched most closely by investors, as it influences mortgages and other important lending rates.
ULong
by jfsrevg