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Standardandpoor500

S&P500: Selling started inside the Channel UpS&P500 turned neutral on its 1D time frame (RSI = 51.591, MACD = 36.770, ADX = 21.671) after a Double Top formation pushed it on the February 10th Low. The long term pattern remains a Channel Up and as the RSI is printing a variance identical to the first 2 weeks of December that formed the top, we expect a similar decline to start, aiming at the bottom of the pattern. We remain on sell positions since our last analysis and aim at the 1D MA50 (TP = 4,000). If the 1D MA200 is crossed, we will short again aiming at the bottom of the Channel Up (TP = 3,865). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
UShort
by InvestingScope
4
S&P500: Selling aimed at the 4H MA200The S&P500 index remains neutral on the 4H time-frame (RSI = 54.250, MACD = 4.390, ADX = 29.647) and without any technical buying pressure, especially following the higher than expected CPI report today, may be have made a Double Top similar to December 13th. If the 4,200 Resistance breaks, we will buy and TP = 4,300 (under 4,330 August 16th High). Until then, we will follow the technical pressure as suggested by the previous Double Top and sell aiming at the 4H MA200 (TP = 4,020). Consider a full daily close below the 4H MA200 a sell trigger aiming at the bottom of the long term Channel Up (TP = 3,850). Then we can buy relatively safely again for the long term (TP = 4,240). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
UShort
by InvestingScope
5
From "FED's pivot" hopes to a "strong labor market" excuseYesterday brought another interesting trading session, with the market being very complacent before Jerome Powell’s speech. However, as soon as he walked on the stage at the Economic Club of Washington, the market rallied. In the early minutes of the speech, SPX jumped up approximately 1.20%. Although, once the FED’s chairman mentioned ongoing rate hikes in the future, SPX slumped by almost 1.8%, bringing it into negative territory. Then again, a few minutes later, the market found its excuse in a strong labor market and rallied toward the end of the day. As a result, SPX closed 1.29% up for the day. This market behavior continues to highlight a tense yet very optimistic mood among market participants, who are back to buying dips. Nonetheless, nothing changes in the big picture. The rally continues against worsening economic data (corporations being hit by a significant decline in net income in 2022, a slowdown in economic activity, declining consumer savings, slow growth of wages, etc.) and assurances of the FED to tighten economic conditions even more in 2023. Overall, the market sentiment seems to have shifted from investors looking for FED’s pivot to them focusing on strong labor market data. Just like on previous occasions, we do not argue against the continuation of the rally in the short term. However, we continue to notice more and more problems in the economy and a growing disconnect between market expectations and reality. That casts a dubious shadow over the market’s performance in the coming months and moves us closer to a big repricing event. With that said, we stick to our price target on the downside for SPX in 2023 at $3 400. Illustration 1.01 Illustration 1.01 shows the 1-minute chart of SPX. Technical analysis Daily time frame = Bullish Weekly time frame = Bullish Illustration 1.02 Illustration 1.02 displays the daily chart of SPX. If the price breaks above Resistance 1, it will bolster a bullish case in the short term; contrarily, if the price breaks below Support 1, it will hint at exhaustion in the rally. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPXShort
by Tradersweekly
27
Investors attempt to call FED's bluffThe Federal Reserve raised interest rates by 25 basis points yesterday. Jerome Powell reiterated his commitment to hiking rates throughout the year, and, more importantly, he dismissed any prospects of rate cuts in 2023. Despite that, investors seem to ignore the FED’s rhetoric and try to fight it. In our opinion, the disconnect between reality and the market is growing to tremendous proportions that we have not seen in years. That is particularly worrisome as we continue to see a lot of corporate underperformance and outlook downgrades during the current earnings season. As we noted in our previous article, the conditions are moving closer to a big repricing event. Investors are irrationally complacent at the moment, trying to call FED’s bluff. However, we expect the mood to change once it becomes clear that the U.S. central bank is not bluffing (or once we start seeing a deterioration in the labor market). Therefore, we treat the current rally with the utmost caution. Illustration 1.01 Illustration 1.02 displays the daily chart of SPX. It also shows two SMAs and simple support/resistance levels. For the rally’s continuation, we would like to see SPX hold above Support 1 and SMAs. If the price breaks below Support 1, it will bolster the bearish odds; the same applies if it falls below SMAs. Technical analysis Daily time frame = Bullish Weekly time frame = Slightly bullish Illustration 1.02 Illustration 1.02 displays the weekly chart of SPX. The yellow arrow indicates a price retracement toward the 50-week SMA (and breakout above it). We will pay close attention if the price manages to hold above this level; if yes, it will further bolster the bullish odds. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPXShort
by Tradersweekly
47
Do you really want to fight the FED?The current week will bring a lot of exciting events for market participants. Several big corporations are set to disclose their earnings for the fourth quarter of 2022, and the release of important financial data (Dallas FED Manufacturing Index, Chicago PMI, ISM Manufacturing, employment cost, CB consumer confidence, ADP employment change, etc.) is likely to give more mixed signals about the economy. As if it was not enough, U.S. central bankers are expected to raise interest rates by 25 basis points on Wednesday. We believe the FED’s rate hike will further weigh on the economy, resulting in more mom-and-pop businesses going bankrupt due to soaring debt servicing costs (and persistent inflation). Inadvertently, this will put more pressure on the labor market, which we expect to start revealing more underlying economic problems in the coming months. This view coincides with the Economic projections of Federal Reserve Board members and Federal Reserve Bank presidents from December 2022. These projections show that the FED anticipates the median unemployment rate to reach 4.6% in 2023. As a matter of fact, since 1949, each 1% increase in unemployment has accompanied a recession (unemployment in December was 3.5%). Therefore, we would argue that the FED implicitly points to a recession in the second half of 2023. Furthermore, the market sentiment is becoming overly bullish and complacent while not pricing in a significant economic downturn. As a result, we think market conditions are moving closer to creating a perfect setup for a big repricing event. With that said, we remain bearish on SPX (beyond the short-term) and maintain our price target at $3 400. Some of the companies reporting their earnings this week: Apple Alphabet Amazon Exxon Mobil Corp. Pfizer McDonald's Caterpillar Phillips 66 Spotify Meta Platforms Canon J&J Snacks Foods NXP Semiconductors Ryanair Holdings SoFi Technologies Whirpool Corp. Illustration 1.01 Illustration 1.01 shows the daily chart of SPX. The yellow arrow indicates the bullish breakout above the sloping resistance. Now, we will pay close attention to the price action. If the price breaks above the horizontal resistance, it may further bolster the bullish odds in the short term. Contrarily, the failure of the price to break above this level may signal exhaustion. Technical analysis Daily time frame = Bullish Weekly time frame = Slightly bullish Illustration 1.02 Illustration 1.02 displays the weekly chart of SPX. Yellow arrows indicate the price’s retracements toward the 50-week SMA, which represent corrections of the primary trend. Recently, the price broke above the 50-week SMA (unlike on the previous occasions). However, this does not necessarily mean the primary bearish trend has reversed. To support a bullish case in the short-term, we would like to see the price hold above the 50-week SMA. The breakout below this moving average will be bearish and hint at exhaustion. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPXShort
by Tradersweekly
35
S&P500 First 1D Golden Cross since 2020.The S&P500 is about to form the first 1D Golden Cross since July 8th 2020. The Triangle pattern is holding and the price rebounded today on the MA200 1D. Trading Plan: 1. Buy on the Support. 2. Sell candles near the Resistance but have to close below it. 3. Buy candles that close above the Resistance. 4. Sell candle that close below the Triangle. Targets: 1. 4090 2. 3950 3. 4330 4. 3800 Tips: Based on the RSI predominantly, the current price action is similar to Nov 21st-30th. Please like, follow and comment!!
CAPITALCOM:US500
by TradingBrokersView
3
A thought for all bullish callsSPX is up 4.5% since the start of 2023 and 14.5% since its lows in October 2022. As a result, we are noticing an increase in calls for recovery and the beginning of a bull market. However, we are skeptical about these calls. With 2022 full-year results from U.S. banks, we now know their net profit decreased dramatically from the previous year; in the case of Morgan Stanley and Goldman Sachs, we saw this trend also in net revenue. Now, we expect companies in other sectors to follow suit and show corporate underperformance in 2022 (versus 2021). We expect that to confirm our thesis about the economy progressing deeper into recession; due to that, we have strong doubts about the sustainability of the current rally. Accordingly, our price target for 2023 stays at $3400. Change in net income for particular U.S. banks - 2022 vs. 2021. Bank of America = -14% YoY JP Morgan Chase = -22% YoY Morgan Stanley = -26% YoY Citigroup = -32% YoY Wells Fargo = -38% YoY Illustration 1.01 Illustration 1.01 displays the daily chart of SPX and sloping resistance. Currently, SPX trades slightly below the resistance. The breakout above the resistance will be bullish in the short term. We would look for a retest of the $4100 level in such a case. Technical analysis Daily time frame = Bullish Weekly time frame = Slightly bullish Illustration 1.02 Illustration 1.02 shows the daily chart of SPX and alternative resistance levels. A breakout above Resistance 1 will further bolster a bullish case for the index. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPX
by Tradersweekly
19
SPX is set to revisit 2022 market lows in 2023For most of the last year, we held a bearish bias on the U.S. stock market. Starting in 2023, we maintain this stance and expect the market to dive deeper into a recession, dragging the price of SPX much lower from the current level. In fact, before the third quarter 2022 earning season, we outlined that the corporate earnings would reflect the worsening economic situation, with companies underperforming and slashing their outlooks. In 2023, we expect this trend to be even more prevalent, confirming the progression of a bear market toward its third stage, which is characteristic of distress selling. Therefore, we will pay close attention to the upcoming earnings season and look for clues of further deterioration on the corporate side of the market. In addition to that, we expect the persistence of elevated interest rates in the United States to weigh heavily on the global economy and debt servicing, paving a road for more trouble in the stock market. In accordance with that, we stick to our price target of 3 400$ for SPX. Illustration 1.01 Illustration 1.01 shows the daily chart of SPX. The yellow arrow points to the impending bearish crossover between 20-day SMA and 50-day SMA. Technical analysis Daily time frame = Slightly bearish Weekly time frame = Bearish Illustration 1.02 Interestingly, the new year begins with the opening gap in S&P 500 volatility index. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPXShort
by Tradersweekly
18
Will the FED minutes alter the course of SPX?Similarly to QQQ, SPX stays choppy, with market participants being overly bullish despite macroeconomic conditions. Therefore, we remain very cautious and dismiss calls about the stock market's bottom. With that being said, we would like to note that we will pay close attention to FED minutes today, which could potentially alter the current course in SPX. Furthermore, we will observe the resistance level at 4028.84$ and its ability to hold the price rise. Additionally, we will also observe the support level at 3911.79$, which, if broken to the downside, will act as a bearish trigger and support our bearish thesis about the potential top in SPX. Contrarily, the breakout above the resistance will clearly invalidate this thesis. That, however, will have little to no impact on our bearish stance, which is also based on fundamental factors. These factors point to more economic tightening and continually worsening recession. Moreover, as we warned before the earnings season, the corporate performance brought much disappointment in line with the progression into the second stage of the bear market that we outlined during the summer. In our opinion, it is silly to presume that the FED will suddenly stop hiking interest rates just because of the one better-than-expected CPI print. Therefore, we stay committed to our bearish narrative and believe the bear market is far from over. Accordingly, we maintain our price target for SPX at 3 400$. Illustration 1.01 The picture above shows the daily chart of S&P 500 E-mini futures (ES1!). Since the CPI print that sparked the rally, the volume has continued to decline. This development hints at fewer market participants willing to buy the index at elevated prices. Technical analysis - daily time frame RSI is neutral as it trends sideways; if it starts to rise, it will be bullish. Stochastic reversed to the upside, which is bullish. MACD attempts to rise further. DM+ and DM- are bullish. Overall, the daily time frame remains bullish. Illustration 1.02 The image above displays the daily chart of S&P 500 E-mini futures (ES1!) and simple support/resistance levels. Technical analysis - weekly time frame RSI and Stochastic are bullish. MACD points to the upside but stays in the bearish area. DM+ and DM- stay bearish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
CME_MINI:ES1!Short
by Tradersweekly
7
SPX - Warning signs in the futures marketDespite our insistence on SPX moving to 3 500$ and 3 400$, it remains choppy between 3 700$ and 4 000$. With that in mind, we still have not changed our view and stay bearish on the index. We believe the market has not bottomed out yet, and there is much more downside in the future. Our thesis is based on the fact that the FED will continue to tighten monetary conditions, which will further weaken the U.S. economy. In addition to that, we are noticing sings of exhaustion in the futures market. Illustration 1.01 Illustration 1.01 shows the trend in volume for the past few trading sessions. The recent decline with the price going up is bearish; therefore, we are very cautious. Technical analysis - daily time frame MACD is bullish; we will pay close attention to whether it can hold above 0 points; if not, it will be very bearish. RSI and Stochastic are bullish. DM+ and DM- are bullish as well. Overall, the daily time frame is bullish. Technical analysis - weekly time frame RSI and MACD are neutral. Stochastic is slightly bullish. DM+ and DM- are bearish. Overall, the weekly time frame is neutral. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPXShort
by Tradersweekly
30
Short signal generated S&PMy system of trading just printed a sell signal for the S&P. Bearish engulfing candle on the 6 hour, Period 20 CCI pushed below 70 from above, period 5 hit below -130 signifying strong downward pressure. Not shown here, but a fib retracement drawn on the most recent move down on the weekly has the golden ratio(1.618) at around 3000 for a target. With FOMC tomorrow expecting 75bps hike, we could possibly see a sell off. Stops just above the recent high.
OANDA:SPX500USDShort
by MonkeyPhone
S&P plan for this week.Hi there. These are my thoughts on how the markets will play out this week. In my opinion this is another bear market rally that is targeting trailing stops between 3950~4000. We are below the 200ma on the 2D and below the cloud. Taking this into consideration and the fact that FOMC is Wednesday and will most likely raise rates another 75bps I can see the following scenario play out. Monday and Tuesday we climb slowly higher with a sharp thrust upwards and immediate rejection from the shorts stop loss area. Wednesday the markets continue their downtrend setting in stone that we are in a bear market. Drawing a fib retracement on the weekly from the most recent leg down puts the 1.618 target at 2972. If in fact we get there, this will take several weeks to hit. Thanks for your time and good luck out there.
OANDA:SPX500USDShort
by MonkeyPhone
1
SPX - Market mulls continuation of the rally In the latest update on SPX, we set the short-term price target of 3 500 USD, and the medium-term price target of 3 400 USD as our fears about the reality sinking back into the market started to grow again. However, we would like to note that if the price manages to hold above the 5th October 2022 high, it will force us to abandon our price targets; under such a scenario, we would expect the market to test 3 850 USD and then 3 900 USD. Despite that, we remain bearish and believe the current move up represents merely a bear market rally. Our conclusion is based on the fact that macroeconomic factors have not changed, even though technical ones are currently bullish. In our opinion, such a combination of technical and fundamental factors does not make up for the sustainable rally and trend reversal. Therefore, we will closely monitor the price action throughout the current and next week. We will pay attention to the FOMC meeting, which is set to hike rates and further pressure the economy. We expect that to negatively affect the market and spark selling again; however, we would not be surprised to see some speculation about the looming pivot followed by initial buying. We will update our thoughts prior to the meeting. Illustration 1.01 Illustration 1.01 displays the setup for the SPX with two alternative trades; if the price holds above the invalidation line, it will force us to abandon our price targets (temporarily). Technical analysis - daily time frame RSI, Stochastic, and MACD all point to the upside; however, MACD remains in the bearish zone. DM+ and DM- are nearing each other; if they perform the crossover, it will further bolster the bullish case in the short term. Overall, the daily time frame is bullish. Illustration 1.02 Illustration 1.02 shows the daily chart's simple support and resistance levels for the SPX. Technical analysis - weekly time frame RSI, MACD, and Stochastic attempt to reverse to the upside. DM+ and DM- are bullish. Overall, the weekly time frame is neutral/slightly bullish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPX
by Tradersweekly
12
BITCOIN What a real Recession could look like...Bitcoin (BTCUSD) has never faced an economic Recession. There is no real comparative metric as to how this new digital asset can behave during such an economic downturn. Looking back into S&P's recent Recessions (2000 Dotcom Bubble and 2007/08 Housing Crisis) could provide some basis as to how BTC could fare relative to the S&P500 index (SPX) during a Recession. This analysis is on the 1W time-frame and so far it appears that Bitcoin (orange trend-line) is strongly correlated to S&P500 (candles) during the 2022 Bear Cycle. The Dotcom Bubble caused a -50.50% drop on S&P while the Housing Crisis caused a -57.50%. The index has already dropped -27% from its All Time High. Relatively to the previous Recessions, I've marked the analogous level. If the more 'modest' scenario of -50.50% is materialized, the S&P500 looks at roughly 2400 for a bottom. Again there is no absolute formula to measure this but is Bitcoin stays correlated to the S&P in this scenario, it can reach levels around or even below the December 2018 low. Can this be a fair bottom if this turns out to be Bitcoin's first Recession? Feel free to let me know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:SPX
by TradingShot
3
SPX - Relief until the FOMC meeting? In tandem with what we predicted last week, the market experiences wild swings up and down. By yesterday's close, the SPX was up approximately 5.3% from its 2022 low. Then today, even prior to the U.S. market open, ES1! continuous futures are already pointing to another appreciation of at least 1%. With that being said, we expect the market to continue showing signs of relief until the FED meeting between 1st and 2nd November 2022. Indeed, we think it is likely that the SPX will try to break above 3800 USD today; if it succeeds, then it will further bolster the bullish case in the short term. In such a case, we will pay close attention to other potential resistance levels at 3850 USD and 3900 USD. Despite short-term bullishness, we remain bearish in the medium and long term. Furthermore, we expect the selling pressure to return to the market after the FOMC meeting. Our views are based mainly on macroeconomic factors. However, at the moment, we abstain from setting any price targets. Illustration 1.01 The picture above shows the daily chart of SPX and two simple moving averages. Additionally, the red arrow shows declining volume for the past three sessions, reflecting a cool-off in the selling pressure. If the price holds above the 20-day SMA, it will be bullish for the short term. Technical analysis - daily time frame The RSI points to the upside; the same applies to the MACD and the Stochastic. DM+ and DM- are bearish. Overall, the daily time frame is slightly bullish. Illustration 1.02 Illustration 1.02 shows the weekly chart of SPX. Two moving averages are still in the bearish constellation. We will monitor the price's ability to retrace toward the 20-week SMA and the 50-week SMA, which would represent a strong correction of the primary trend. Technical analysis - weekly time frame RSI, MACD, and Stochastic are neutral. DM+ and DM- are bearish. Overall, the weekly time frame is turning neutral. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Editors' picks
SP:SPXShort
by Tradersweekly
36
SPX - News lows and the follow-upLike the rest of the market, SPX hit a new low for 2022. By doing so, it reached our price target of 3 500 USD, and therefore, we would like to provide our thoughts on this asset. We continue to be bearish in general. However, at the moment, we would like to stay on the sidelines and monitor the market. We believe economic conditions will worsen with another rate hike in early November and the upcoming earning season. Therefore, we have little faith in the reversal of the primary trend. Instead, we believe that the bear market has not ended, and new lows will be set over time. As for the short-term, we will look for clues indicating exhaustion within the bounce move-up. Indeed, we think the current bounce represents an excellent opportunity for repositioning on the short side. Illustration 1.01 Illustration 1.01 shows the daily chart of SPX. If the price breaks above the sloping resistance 1, it will be bullish; the same applies to the sloping resistance 2. The failure will suggest otherwise. Technical analysis - daily time frame RSI, MACD, and Stochastic show signs of reversing to the upside. DM+ and DM- are bearish. Overall, the daily time frame shows signs of relief after the market became oversold in the short term. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPX
by Tradersweekly
20
S&P500 CPI higher than expected. Can it repeat this bullpattern?The U.S. CPI came in higher than expected at 8.2% against a 8.1% forecast but lower than the previous month (8.3%). It remains to be seen how the market will react to that. Technically though, the bearish leg of S&P500 (SPX) since the August 16 Lower High within this 2022 Bearish Megaphone, is close to completing the exact same pattern of the previous two bearish legs, after which both rebounded aggressively above the 1D MA50 (blue trend-line) to form a Lower High within the 0.618 - 0.786 Fibonacci retracement zone above the 1D MA200 (orange trend-line). The 1D RSI has been on a similar structure as well. The 0.618 - 0.786 zone is within 4007 - 4145 and the 1D MA200 at 4145 (and falling). Do you think the S&P500 will ignore the higher than expected CPI and repeat the pattern by completing it on a rebound? P.S. For better comparison purposes I've plotted all fractals on top of one another (blue, orange and grey lines). ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FOREXCOM:SPX500Long
by TradingShot
6
SPX - A new low for 2022The SPX hit a new low for 2022, confirming our predictions. However, we have no reason to change our bearish stance in the face of enduring macroeconomic factors. Therefore, we maintain our price target of 3 500 USD, which we expect to be reached by the end of the fourth quarter. Tomorrow, we will pay close attention to the release of CPI figures, which might spark strong buying or selling, depending on the print. Despite that, we expect the market to stay choppy, showing wild swings from one side to another, especially as the FED meeting comes closer. In regard to the November meeting, we believe another rate hike will negatively affect the overall market, pressuring it lower. Furthermore, we believe the SPX will drop far below our price target over time. As for the upcoming earnings season, we think deteriorating profits will further confirm our thesis about the second stage of the bear market. Therefore, we will pay close attention to the market developments in the coming weeks. Illustration 1.01 Illustration 1.01 displays the daily chart of SPX and two simple moving averages. Yellow arrows point to the latest technical developments in the market. Technical analysis - daily time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish. Illustration 1.02 Illustration 1.02 shows the quick selloff after the PPI print today; this price action reflects how fragile the market has become over the past months. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPXShort
by Tradersweekly
15
SPX - Fishing for the double bottom will turn out to be painfulAbout two weeks ago, we noted that the market was nearing 2022 lows, which led us to speculate about the short-term bounce. We reasoned that people would start predicting the double bottom formation and potential trend reversal. However, we stated that this bullish move-up would prove to be short-lived over time. Since our post, SPX hit a new low and then bounced more than 6%. At the moment, the index trades near the 3 780 USD price tag, which coincides with the 20-day SMA. In our opinion, this retracement toward the SMA represents the correction of the downtrend, just like on previous occasions. If the price breaks above the SMA, then it can bolster the bullish case in the short term. However, a failure of the price to break above the level and hold there will suggest otherwise. As for the medium and long term. We stay bearish and committed to our price target of 3500 USD. Our views are based on a combination of technical and fundamental factors described in this and previous articles. Illustration 1.01 Illustration 1.01 displays the daily chart of SPX. The yellow arrow points to the price retracement toward the 20-day SMA. Two dashed white lines act as sloping resistance levels. Technical analysis - daily time frame RSI and Stochastic are bullish. MACD is neutral. DM+ and DM- are bearish. Overall, the daily time frame is bearish. Illustration 1.02 Illustration 1.02 shows the daily chart of SPX and simple support/resistance levels. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPXShort
by Tradersweekly
9