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Standardandpoors

S&P: Pulling back but still within a bullish channel.The index hit our previous target (2,670) making a slightly higher than expected Higher High at 2,677.75. This marginally extended the upper band of the 1D Channel Up (RSI = 59.375, MACD = 16.280, Highs/Lows = 32.7451), which remains overbought on STOCH and Williams. It is natural to expect a technical pull back either to touch the median (2,640) or to pric a Higher Low (2,620 - 2,597). We will be using those two spots as long entries and target (TP) 2,690. Technically the Channel Up should make a new Higher High above 2,720. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
CME_MINI:ES1!Long
by InvestingScope
5
S&P: Bullish but in need of a pull back.The index has capitalized considerably on December's low, creating a strong 4H Channel Up (RSI = 57.058, MACD = 20.290, B/BP = 4.4419) which peaked yesterday at 2,596.75. Considering this a Higher High, we expect the price to pull back in order to set a new Higher Low, necessary to help the index reach even higher values. Although the technical estimates place the next Higher High at 2,670, taking into consideration the volatile geopolitical environment we will be buying this pull back for a more modest TP = 2,600. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
CME_MINI:ES1!Long
by InvestingScope
2
S&P's Dead Cat Bounce to 2575.Since the last update and comparison made on the similarities of S&P's candle sequences between the 2007 and 2018 Death Cross patterns, the index followed exactly the 2007 pattern, as it completed a nearly -15% decline and then rebounded. Based on the 2007 pattern this rebound shouldn't exceed +10% and our estimates put it around 2,575. This can be described as a "Dead Cat Bounce" and in 2007 it was what led economy into the 2008 recession. The new lows on the index should be expected in about 2 months. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
SP:SPX
by InvestingScope
3
Are we entering a new recession? Death cross on S&P.S&P500 printed this month a Death Cross (MA50/MA200) and is already -8.40% since its appearance. A similar occurrence took place in 2008 at the start of the global financial crisis. In 2008 the Death Cross resulted into a fast (around 1 month) -14.40% decline on the index and assuming that the same sequence will follow, we can expect S&P to drop below 2,400 and around 2,360 in the next 20-30 days. The similarities (another -11.80% decline that preceded) and timing between the two periods are astonishing. If the monetary governing bodies do not turn the very negative market psychology around soon by reviewing their policies, we should be looking into a new recession in 2019. If that's the case, and the full bear cycle sequence of 2008 is followed, we may see S&P losing around -55-60% of its value, making a bottom around 1,250. Of course this is just a technical projection based on recurring patterns and similar candle sequences from the historical volatility at hand. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
SP:SPXShort
by InvestingScope
24
S&P: Channel Down towards 2500.Since the price crossed the 2,603 1D Support last week, it has developed a Channel Down on 4H (RSI = 35.405, MACD = -23.590, Highs/Lows = -14.5707). According to its High/ Low sequence we can project that the next Lower Low will be completed on a -6.85% decline, i.e. 2,506.50. Use this technical suggestion with extreme caution however as the Fed Interest Decision tomorrow and the statement to follow, may largely unsettle any technical pattern. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
CME_MINI:ES1!Short
by InvestingScope
Rates and equities rendez-vousToday may be the day we get the long-awaited bounce in rates and equity. SMI is showing signs of strength with a positively sloped trendline. ES1! appears to fight the sellers' pressure and bounces of the anticipated support at around 2627.00 forming a triple bottom. Now the first resist is visible at 2712 but the major one is expected to be located at around 2800.00. Rates are looking really oversold (overbought bonds). Probably given the oil price. Last time when rates were at these levels the water was flowing down the river, the yellow vests were non-existent and Macron had more support than Trump. Most importantly - ES futures were hitting 2900.00! Let's see where this bounce gets us. It still may be just a correction before a recession. Many things can happen. Word to close for today: CASH RULES EVERYTHING AROUND ME EXCEPT WHEN IT IS JUST A FIAT CURRENCY
CME_MINI:ES1!
by Slimsy
S&P500: Bullish pattern to 2800.The price action on 1D highlights the existence of a strong Resistance zone at 2,818.50 - 2,825.25 and a strong Support zone at 2,603.00 - 2,626.75. The current overbought Channel Up pattern on 4H (RSI = 73.422, MACD = 9.300, Highs/Lows = 46.8393) mirrors the previous one that following the test of the Support zone, it reached the Resistance zone. Following Powell's strong outlook today, there are high chances for this aggressive buying pattern to duplicate in the next 5 - 7 sessions. Our TP is 2,749.25 and 2,795.50 in extension. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
CME_MINI:ES1!Long
by InvestingScope
2
S&P: Triangle expected to break upwards. Bullish.The index has developed a Triangle on 1D (RSI = 45.946, CCI = -19.2621, Highs/Lows = 0.0000) following last week's decline near 2,670. On the positive side the 0.618 Fibonacci level (2,684.75) was only broken that one time on 1D and has since held support. If that level stays intact then the Triangle has more chances to break higher with 2,767 as the first Resistance before the critical 2,824.75 test. We are still bullish on medium term with TP = 2,893. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
CME_MINI:ES1!Long
by InvestingScope
1
S&P: Target hit. Channel Up intact. Bullish.TP = 2,785 hit before the index successfully made a Higher Low on the 4H Channel Up (RSI = 56.761, MACD = 13.990, B/BP = 9.0660). The two high probability scenarios arise. Either the Channel Up goes for a new Higher High or 1D consolidates (RSI = 52.278, Highs/Lows = 33.1786) the overbought STOCH, STOCHRSI (> 80.00) and Williams in a symmetrical pattern as seen on the chart. In both cases the target is a near 2,900 extension (TP = 2,893). ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
CME_MINI:ES1!Long
by InvestingScope
1
S&P: 1W support made. Expect long term uptrend. Long.spxThe index successfully rebounded on the 1W support/ Higher Low cross (2,600) and immediately broke the previous 1D Channel Down (STOCH = 67.897, Williams = -37.898, B/BP = 12.6380). This is creating a very bullish long term development on S&P with a new 1D Channel Up emerging. The long term uptrend of 1M (RSI = 60.871, MACD = 144.470) should provide the necessary bullish support during this post earnings period and especially after Thursday's rate is announced. We remain bullish with TP = 2,785 (1W Gap Fill) and 2,900 the extension.
CME_MINI:ES1!Long
by InvestingScope
S&P: Target hit, 1D Channel Up emerging. Long.TP = 2,807.75 hit while the index managed to keep the 0.618 1W Fibonacci level intact (2,703.50 on RSI = 46.971, MACD = 22.040), thereby successfully making a support level. 1D is now on Lower Highs trying to establish a Channel Up, which technically needs a Higher High above last week's 2,824.50 to be justified. 2,878.00 is the medium term target which should be accomplished half-way through November. Additional long opened with short-term TP = 2,820.
CME_MINI:ES1!Long
by InvestingScope
1
Higher Low on the 1W Channel Up made. Expecting a rebound.The index has completed a pull back on the long term 1W Channel Up (RSI = 59.796, MACD = 50.200, B/BP = 46.3920) by technically pricing its Higher Low (Highs/Lows = 0) near 2,875. The downside potential is limited. 1D should develop a new bullish leg/ Channel Up to test successively all the Resistance levels (2,910/ 2,930/ 2,947.75). Keep in mind that we have just entered the last economic quarter (Q4) of the year, where institutional investors take long positions for the end of the year rally. Our TP remains 2,960.
CME_MINI:ES1!Long
by InvestingScope
1
Pullback successful. New Higher High on sight.The 1D Channel Up (RSI = 64.273, MACD = 15.350, Highs/Lows = 11.000, B/BP = 26.8360) pulled back to the expected ~2,910 Higher Low and rebounded on a strong candle sequence. The uptrend is now strong on all levels (4H RSI = 61.057, Highs/Lows = 10.5536) and is moving towards at least a 2,947.75 ATH test with high chances of making a new Higher High near 2,966. Our TP remains 2,960. At the moment the 1W Channel Up, which signifies the long term bullish behavior of EURUSD, can potentially extend as high as 2,983.25 for a Higher High and is at the same time supported at 2,878.00 for a Higher Low (if printed we will add another long).
CME_MINI:ES1!Long
by InvestingScope
Pull back on 1D completed. Medium term long.The 1D Channel Up (RSI @ 54.372, MACD @ 11.990, Highs/Low @ -4.3929, B/BP = -7.3080) eventually pulled back to 2,865 to form a Higher Low. As mentioned on last week's analysis we have made an additional long at 2,878 and if required we will enter a second (and last one) on 2,850, where the last support on 1D is located. This is a natural technical pull back on a 1W basis (last 1W candle closed at -0.94%) following August's strong finish (three straight bullish weeks). Our TP is 2,930.
CME_MINI:ES1!Long
by InvestingScope
Targets hit. Channel Up intact. Long term buy.TP = 2,889.25 and 2,910 both hit as the 4H Channel Up (RSI = 56.683, MACD = 5.780) made a new Higher High at 2,917.50. Having now formed a new Higher Low at 2,891.75 (Highs/Lows = 0), the index is ready to reach our final TP of this weekly bullish leg = 2,930. This upside move is further strengthened by the 1D Channel Up (RSI = 66.763, MACD = 25.330, Highs/Lows = 14.9107, B/BP = 32.9300) that is aiming for a Higher High at 2,947.75 while the 1W Channel Up maxes out at 2,966.75 (both cases will lead to a correction). In case they pull back earlier to form a Higher Low, we will use 2,878 and 2,850 as additional buy entries.
CME_MINI:ES1!Long
by InvestingScope
Target hit. New bull cycle initiated. Long.TP = 2,873 hit as the 4H Channel Up aggressively moved (RSI = 70.757, overbought STOCH, STOCHRSI, Williams, Ultimate Oscillator) towards and broke the 2,878 all time high spot. Having reached a Higher High on the 1D Channel Up (Highs/Lows = 21.7500), near exhausting the High space of the Rising Wedge (overbought STOCH, STOCHRSI, Williams), the index has now created a new bull cycle on a quarterly basis. Since the all time highs broke, our target is now 2,889.25, which if crossed will start the new bullish leg of September and we will continue buying with TP = 2,930.
CME_MINI:ES1!Long
by InvestingScope
Approaching ATH. Cautious buying.Following a new Higher Low at 2,803, the index resumed the uptrend, creating a smaller 1D Channel Up (RSI = 62.251, MACD = 16.360, Highs/Lows = 9.9821, B/BP = 28.5480) that is technically looking to test the All Time Highs. This is where our last target of this bullish run on S&P is, which will complete our estimated buying quarterly cycle. Due to the importance of this spot, we will downgrade our TP to 2,873. If the ATH break then the small Channel Up will seek a Higher High extension at 2,889.25, which if crossed will start the new bullish leg of September to 2,930. In a different case, they will first seek a Higher Low (2,829.25 - 2,838.25) before retesting the ATH again.
CME_MINI:ES1!Long
by InvestingScope
First support held. New Higher High ahead. Long.The 1D Channel Up (orange dotted parallel lines on RSI = 60.002, MACD = 15.140, Highs/Lows = 0.88036, B/BP = 28.2960) successfully tested its 1st potential rebound point at 2,791.75 as you can see on the first curve (blue). There is always a possibility to extend as low as 2,775 (2nd potential rebound point - second curve) and make a full Higher Low, but technically it has resumed the uptrend on 4H (Highs/Lows = 6.0357, ADX = 26.076) and should not look back. A new long has been added at 2,795 with TP = the 2,878.00 ATH, with the previous TP also intact = 2,854.75. An additional long will be added at 2,775 if needed.
CME_MINI:ES1!Long
by InvestingScope
1
Consolidation on 4H. Still a lower gap to fill. Short.S&P has entered a consolidation on 4H with a Rectangle (yellow box) dominating the trade since the 2,700 support was tested (neutral RSI, STOCH, Williams, CCI, Highs/Lows). 1D remains bearish (MACD = -3.140, B/BP = -27.8660) but since it is now on neutral RSI, Highs/Lows, the downside is limited to 2,683.75. We update the TP to 2,685. This means that the Channel Up on 1D is near its technical Higher Low and after 2,685 will crise to at least 2,785 again.
CME_MINI:ES1!Short
by InvestingScope