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SPX Daily TA Cautiously BullishSPXUSD daily guidance is cautiously bullish. Recommended ratio: 65% SPX, 35% Cash . * US EMPLOYMENT SITUATION WATCH . If Unemployment reports higher tomorrow (which with the amount of layoffs in corporate USA these days would be reasonable), this would signal that the FOMC's monetary policy is becoming increasingly effective and they will likely go ahead with their 50bps rate hike on 12/14. This may be considered bullish by markets but it would be prudent to expect for a bit of volatility tomorrow regardless. October's PCE Index was reported (6% vs 6.3% in September) at 12:45pm EST today , when it should've been reported at 830am EST today; why this happened, who knows? Why it (Core PCE) reflected exactly what Fed Chair Jerome Powell forecasted in his speech at the Brookings Institute yesterday, who knows? Powell (and the Fed) forecasted Core PCE dropping from 5.1% (5.2% revised) to 5%, that's exactly what was reported today. The 7th GDPNow US Q4 GDP estimate came in at 2.8% down from 4.3% on 11/23 . Russia Foreign Minister Lavrov justified recent attacks on Ukrainian infrastructure as a means of defending Russia from "inherent risks" and condemned NATO and the USA for participating in the defense of Ukraine . France and the USA agreed to continue supporting Ukraine . Meanwhile, the Pentagon reported that China conducted more ballistic missile tests than the rest of the world combined in 2021 but that there are doubts regarding whether or not they can achieve their goals of becoming a military superpower by 2027 . HSI, NI225, N100, GBPUSD, EURUSD, JPYUSD, CNYUSD, Energy, Agriculture and Metals were up today. DXY, US Treasurys, US Equities, US Equity Futures, Cryptos and VIX were down. Key Upcoming Dates: November Employment Situation at 830am EST 12/02 ; US November PPI 830am EST 12/09; US November CPI 830am EST 12/13; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14; US November New Residential Construction at 830am EST 12/20; US Final Q3 GDP Estimate at 830am EST 12/22; US November PCE Index at 830am EST 12/23; UofM Consumer Sentiment Index at 10am EST 12/23. * Price attempted to push higher in today's session and finished at $4076 after briefly testing the 200MA which coincided with $4058 minor support. Volume finished today's session Moderate (high) and favored sellers after favoring buyers in yesterday's session. Parabolic SAR flips bearish at $3938, this margin is neutral at the moment. RSI is currently trending down slightly at 62.5 after forming a soft peak at 63.5, the next support is at 52.68 and resistance at 68.42. Stochastic crossed over bullish in today's session after bouncing off of 68 support and is currently trending up at 83. MACD remains bullish after defying a bearish crossover and is currently trending up slightly at 62, it's still technically testing 55 minor resistance. ADX is currently trending up slightly at 21 as Price attempts to push higher, this is mildly bullish at the moment and would become bullish if it maintains this correlation over 25. If Price is able to establish support at $4058 minor support then the next likely target is a retest of the upper trendline of the descending channel from November 2021 at around $4175 resistance (this would present a very critical resistance). However, if Price breaks down below $4058 minor support as well as the 200MA at $4048 as support , it will likely retest $3913 minor support. Mental SL: (one close below) $4032 .
SP:SPX
by dailytaguy
2
‍SPY/USD Does it want to create Double bottom pattern?Hi every one chart is speaking it self!! The double bottom pattern seems to be forming in the market,That this pattern can raise prices Of course, we have to wait for the pattern to form.‍ Traders, if you like this idea or have your opinion about it, write in the comments. We will be happy Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast Thank you for seeing idea . please support us Good luck.
FOREXCOM:SPX500
by CobraVanguard
4
#SPY $SPX500 #SP500 catching the Top, any Bears alive?Hello My fellow Bears, so before I share my thoughts I want to just tell you that shorting the SP500 was not a good Idea. Major Uptrend Longest Bullrun in History, Fed pumping liquidity , Stock Majors Buyback Excess and Trump Tweets. And by the way the Oval Office released a note that there will be a 11 am EST an Pressmeeting - just right about the overnight time when Major Index began showing some Weakness - Coincidence or do we see a new "Stockrocket All Time high" Tweet by Trump Today? I was able to get my Short Position on the SP500 right after the Overnight Break, with a very tight Stop Loss just to be protected against any irrational Market Move caused by some Tweet. My Key Area was the SP500 Trading around 3330 and how it will behave around there. So what is the Pirce doing on 4H timeframe Still Above 50 EMA Still above 200 EMA 4H Stochastic pointing down lower high on the RSI while price is making higher highs Targets 50 EMA (green)(if it Holds the price this will probably move again up) 100 EMA (purple) 200 EMA (red) this is my First Major Target if this Short plays out (Probably i am going to close the half Position there, it all depends how we would or could arrive there, if we overshoot with this Pullback I would set my Stoploss into a Take Profit right Above the 200 SMA and let it run. Target Area Explanation If the SP500 would Pull Back from 3330 Area it would target next Support Zones and would be still in a Major Uptrend. 0.236 Fib Retracement vicinity 200 EMA and 200 SMA on the 4H Timeframe for Support lower Rising Trendline from the rising Channel for Support Market could retest the 3200 Area were we had some Volatility at the Start of January. So if you are holding a Short or having thoughts about opening one, just be prepared to watch these key Levels. Happy Bull-Hunting and Trade Safe.
FOREXCOM:SPX500Short
by koboltrading
1