S&P500 Normal consolidation within the large Channel Up.S&P500 / US500 is highly volatile these first two weeks of September, trading sideways on a relatively wide margin, using the 1day MA50 as the pivot.
As long as the 1day MA100 supports, this is a similar consolidation that we witnessed after the market's prior bottom inside the 11 month Channel Up.
Both the 1day RSI and MACD indicate that we might be halfway through the consolidation phase.
This volatile trade is far from alarming for the long term, with the 1day MA200 conveniently placed on the Channel's bottom.
We may see the rally taking off at the end of the month. It is a good opportunity to buy and target 4770 (Fibonacci 1.618 extension as the June 16th High).
Previous chart:
Follow us, like the idea and leave a comment below!!
Us500
S&P500 Short-term buy within the weekly Channel Up.The S&P500 (SPX) hit today the 1H MA200 (orange trend-line) for the first time since September 06, which was before the current 5-day Channel Up pattern. So far it delivers an initial rejection, whose pull-back can extend even below the 1H MA50 (blue trend-line).
Based on the 1H RSI though, which is posting a sequence similar to September 07 - 08, we are close to the reversal point, making it already a buy opportunity. You can confirm that after the price closes a candle above the 1H MA200. Regardless, our target is at the end of a +1.27% increase and the top of the Channel Up at 4500.
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
-------------------------------------------------------------------------------
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
S&P500: Formed new bottom. Expecting a rise.The S&P500 index has hit the 0.382 Fibonacci level after a 4H Golden Cross that turned the 4H technical outlook bullish (RSI = 59.782, MACD = 9.210, ADX = 36.280). As mentioned before, this is the same fractal of December 2022 to January 2023. Holding the 0.382 was key to sustaining a rise to the 1.236 Fibonacci extension. We remain bullish on S&P500, targeting the current 1.236 Fibonacci (TP = 4,670).
Prior idea:
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
US500 ~ Daily Swing Chart V2 (Re-Upload)Update: chart got cut off when published. Re-uploading to expand TF further out for better context of identified technical patterns.
Chart mapping/technical analysis of CAPITALCOM:US500 for developing med-long term Swing Trade strategies.
CME_MINI:ES1! SP:SPX AMEX:SPY
US500 - Inflation data aheadHi Traders,
last week the US500 did a correction as expected.
Right now price is at a interesting level for Bulls (arround July High)
Next week we have to put our eyes on the US inflation data.
On wednesday we have the Core CPI. The forcase is +0,2%
What is the core CPI?
The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
On Thursday we also need to watch for PPI - which is likely a good indicator for future CPI values.
What is the PPI?
The Producer Price Index (PPI) measures the change in the price of goods sold by manufacturers. It is a leading indicator of consumer price inflation, which accounts for the majority of overall inflation.
Wish you all good trades!
Team tegasFX
S&P500 Rising Wedge is forming a bottom. Bullish.S&P500 / US500 is trading sideways as it attempts to form a bottom on the Rising Support of the Rising Wedge pattern.
The 4hour RSI rebounded from the oversold territory as on the August 18th bottom.
Every Higher High on the Wedge's top was a Fibonacci 1.618 extension from the previous one.
Buy now and target 4598 (Resistance B), which is slightly under the next Fibonacci 1.618 extension.
Previous chart:
Follow us, like the idea and leave a comment below!!
S&P500 Buy signal within the Bullish Megaphone.The S&P500 index (SPX) is attempting to stage a rise after hitting the bottom of the Bullish Megaphone. This is after the formation of the Golden Cross on the 4H time-frame, the first such pattern since March 31. In addition, the 4H MACD just formed a Bullish Cross below the 0.0 level. This is a strong combination of bullish signals for the medium-term.
As long as the Higher Lows (bottom) of the Megaphone hold, we are bullish, targeting 4640 (Resistance 2). If it closes a 4H candle below the Higher Lows, we will close the buy and open a sell instead targeting the 1D MA100 (yellow trend-line) at 4375. If after an initial rebound, it gets rejected on either the 4H MA200 (orange trend-line) or 4H MA50 (blue trend-line), we will re-sell and target the 1D MA200 (red trend-line) at 4220.
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
-------------------------------------------------------------------------------
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
The relief fizzles outThis week, we saw SPX move slightly lower. In addition to that, VIX gapped up on Tuesday and continued to move higher without filling the gap. Meanwhile, the relief fizzled out in China, leading to a rollover in the stock market indices like CSI 300 and Hang Seng. Considering American and Chinese markets are highly intertwined, we raise a word of caution over more weakness in the U.S. market.
Illustration 1.01
Illustration 1.01 shows the daily chart of VIX. The yellow arrow indicates an opening gap on Tuesday.
Illustration 1.02
Illustration 1.02 displays the daily chart of CSI 300. The yellow arrow indicates the initial spike after the regulator’s intervention in the market about two weeks ago.
Technical analysis gauge
Daily time frame = Neutral
Weekly time frame = Neutral
*The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages.
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.
Us100 short on 2Sept using only 1 indicator BandofMidas CAPITALCOM:US100
1. CLEAR all drawings and indicators.
2. Back to basic ( draw some lines, fibo, chart pattern, simple support and resistance level etc )
3. Go to indicators > invite only script > BandofMidas
4. Observe the if the price fall in Midas zone and reverse.
5. Enter the trade if the price level is at critical support resistance level. Double confirmation is great enough.
6. Plan your trading plan, strategy, risk reward ratios.
7. Consider to breakeven if price doesn't move accordingly, to take profit at opposite Midas zone or follow the trend reversal line to change color.
8. ALWAYS plan your trades before you enter, BandofMidas is a great helping tool but it won't be absolutely accurate.
Good luck to all the traders here.
SPX500 H4 | Bullish bounce off 50% fibo?SPX500 is falling to our buy entry at 4443.2, which is an overlap support level and at the 50% fibo retracement. SPX500 could potentially bounce off the buy entry and head towards our take profit target.
Entry: 4443.2
Why we like it:
There is an overlap support level and it aligns with the 50% fibo retracement.
Stop Loss: 4423.3
Why we like it:
There is an overlap support, and it is placed below the 61.8% fibo retracement.
Take Profit: 4472.8
Why we like it:
There is a pullback resistance level.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
S&P500: Last chance to hold this level and rise.S&P500 has turned neutral on the 1D timeframe (RSI = 46.008, MACD = 1.700, ADX = 33.340) after today's 1D candle crossed under the 1D MA50. To make matters worse, the 1D MACD is reversing and if the price doesn't rise, it will form the first Bearish Cross on such low level since June 10th 2022.
On the brightside, the 0.382 Fibonacci level is still holding, and if it continues to close candle over it, this correction will turn out to be just a minor pullback similar to January 19th. So until the bearish conditions emerge, we will be bullish, targeting the 1.236 Fibonacci extension (TP = 4,670).
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
SPX500 H4 | Bullish bounce off 38.2% fibo?Price has formed a head and shoulders pattern, and we could look for an opportunity to trade the pullback of this bearish reversal. Our buy entry is at 4470.8, which is a pullback support level, aligning with the 38.2% fibo retracement. Stop loss is at 4422.7, which is placed beyond the 61.8% fibo retracement level. Take profit is at 4526.9, which is an overlap resistance level and exiting at the right shoulder of the current head and shoulders pattern.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Forex Capital Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money..
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXCM Australia Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
China's relief stagnates. Before the turnaround in SPX in July 2023, we pointed out to the roll over in the Chinese stock market and its implications for the U.S. market. Then more recently, we saw how these markets continue to be intertwined when Chinese regulator stepped in and calmed down the market, resulting in both American and Chinese stocks enjoying a relief (or perhaps even reversing). However, in the past three days, we started to notice that the momentum began to decrease in the Chinese indices. Therefore, we think it would be proper to wait a little bit more time before committing to the bullish outlook.
Illustration 1.01
The picture above shows the daily chart of MACD, which hovers just slightly below the midpoint. If it breaks above this level, it will bolster the bullish case in the short term. However, the failure will be strongly bearish.
Illustration 1.02
Illustration 1.02 shows the daily chart of the Hang Seng Index. The yellow arrows indicates the past three days, with each having a lower low than the prior one.
Illustration 1.03
Illustration 1.03 displays the daily chart of CSI 300. The yellow arrow highlights the initial spike in CSI 300 after the regulator’s intervention.
Technical analysis gauge
Daily time frame = Slightly bullish
Weekly time frame = Neutral
*The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages.
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.
SPX500 H4 | Bearish reversal off overlap resistance?Price is approaching our sell entry at 4537.5, which is an overlap resistance level, and slightly below the 78.6% fibo retracement level. We can expect price to react bearishly, and to reverse to the downside as there could be a head and shoulder pattern forming, indicating a reversal. Our stop loss is at 4583.4, which is an overlap resistance level. Take profit is at 4502.1, which is an overlap support level, and placed slightly above the 23.6% fibo retracement level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Forex Capital Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money..
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXCM Australia Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
NDQ | Hidden in plain sight...This is a period of recession, a period when hands change. Last becomes first and first becomes last.
Curiously, if you mix and match the main indices, you will get bored of the same shape appearing over and over again.
They all appear in the same period. This stuff is hidden in plain sight...
NDQ vs DJI
SPX vs NYA
NDQ vs RUI
RUI vs NYA
RUA vs DJI
This one is full of small HnS. A little rough but okay.
And an extra speculation:
DJI vs SPX
Question: Where do all these HnS lead to? Who is the final recipient? Since all these charts are comparative to one another.
Tread lightly, for this is hallowed ground.
-Father Grigori
A Traders’ Playbook; Compelling opportunity in a low vol world We come into the new trading week with several major equity indices losing steam, and with the VIX index closing at new cycle lows. Short exposures seem hard graft with volatility so low, but we have some defined levels to set risk to for those positioning for drawdown – EUSTX50 – 4350, GER40 -16,000, US500 – 4540 and NAS100 – 15,628 – an upside break though in the US equity indices and headlines of new all-time highs will likely make the front pages.
The USD etched out a small gain last week, but the fortunes of the DXY reside in how EURUSD reacts at the March uptrend support and the 25 Aug pivot low (1.0765). With rates markets sensing many G10 central banks are done hiking, relative expectations of growth are pivotal in driving exchange rates. EURCHF is a classic relative play, and this cross feels like we break the downside levels of 0.9520 soon enough.
I like USDCHF higher too, while GBPUSD could well be breaking support at 1.2550 soon. The AUD should get increased focus this week, although traders have a firm eye on China while managing RBA meeting risks.
Commodities should be on the radar, with SpotCrude on a tear and many are questioning how long it takes for crude to test $100. I’m not going to call it, but the skew in risk is for higher levels and we’re certainly seeing a more bullish tone in the options world, with growing open interest to buy $100 Brent calls. We also see a steeper Backwardation between front-month US crude futures and March 2024 futures (TradingView code - NYMEX:CL1!-NYMEX:CLH2024 ). A steeper backwardated futures curve offers increased positive carry for market participants, making long crude exposures even more compelling.
Gold bulls have been frustrated with price rejecting the 61.8 fibo of the July–August sell-off. However, this is where we can look at gold ex-USD and see some solid trends and upside momentum. For those who like momentum, put XAUAUD, XAUCHF, XAUJPY, XAUGBP, and XAUEUR on the radar. Staying in the space and I see sugar is doing everything right – I fancy this higher and into $27.30.
Good luck to all.
The marquee event risks for the week ahead:
US Labor Day (Monday) – Should ensure a quiet start to the trading week.
China (Aug) new yuan loans (no set date) – the July credit data came in at RMB345b, which was the lowest level since 2009, and contributed to weakness in Chinese markets (and China proxies like the AUD). As we assess the increased news flow on policy support, we should also see higher credit data.
RBA meeting (5 Sept 14:30) – Rates pricing portrays a high conviction call for the RBA to keep rates at 4.1%. The central bank is data-dependent and on recent current data flow, they should be on hold for an extended period, although there is debate whether they could still hike in November – the Q3 CPI print would be the trigger there. The AUD will react to the statement momentarily before reverting to watching China’s news flow. With one eye on foreign economic trends, the key dates for Aussie domestic data going forward:
• 12 Sept – Westpac consumer confidence/NAB business confidence.
• 14 Sept – Aussie jobs
• 27 Sept - Aug monthly CPI
• 3 Oct - RBA meeting
• 19 Oct – Aussie jobs
• 25 Oct – Q3 CPI
Banco Central de Chile (6 Sept 07:00 AEST) – With subdued growth and headline inflation in freefall. the debate for this meeting is whether the bank cuts rates by 75bp or 100bp. After an 11% rally through June-August, USDCLP has since been consolidating around 850 and range trading strategies are currently working well – the CLP bulls will want copper into $3.90 (200-day MA) and a higher conviction tape in Chinese equity markets.
Australia Q2 GDP (6 Sept 11:30 AEST) – The market eyes GDP at 0.3% QoQ / 1.8% YoY – GDP is not a data point that typically moves markets, but a big downside surprise (QoQ growth closer to 0%) may see the headline writers increase the debate around a 2024 recession.
BoE Governor Andrew Bailey testifies to Parliament (6 Sept 23:15 AEST) – Gov Baileys speech shouldn’t be market moving, especially after BoE chief economist Huw Pills speech last week has set market expectations. The UK swaps market ascribes an 88% chance of a 25bp hike from the BoE on 21 September. GBPUSD eyes the 25 Aug low of 1.2547, where a break opens a move to 1.2400.
US ISM services – 7 July (00:00 AEST) – The market expects the index to fall to 52.5 (from 52.7) – hard to know if this will promote volatility as the market cherry-picks when to react to this data point. Any number below 50 could promote USD sellers. We also get the US Beige Book four hours after the US service-sector data, although I see a low risk that the Beige Book proves to be a volatility event.
Bank of Canada meeting – 7 July 00:00 AEST – The market ascribes a 5% chance of a hike at this meeting, and only 6bp are priced through to January. The tone of the statement will likely be the driver of the CAD. Upside risks remain in USDCAD, with 1.3650/1.3670 targets.
China trade balance – 7 Sept (no set time) – While expectations can hardly be called inspiring, the market looks for improvement, with exports eyed to fall 9.8% YoY (from -14.5% YoY in July). Imports are expected to print -9% (from -12.4% YoY). The China trade data has been a key focal point for the China economic watchers, but with fiscal stimulus now being unleashed into the economy and yet to be seen in the statistics, one questions if the market is less sensitive to the outcome this time around.
RBA gov Lowe speaks (7 Sept 13:10 AEST) – It’s unlikely outgoing RBA governor Lowe will say anything which won’t be expressed in the RBA statement, and new intel is needed to change the view that the RBA are on hold for a period. A sentimental speech, but debatable if proves to be a vol event.
China CPI/PPI – 9 Sept (11:30 AEST) – Will we see a second month of a decline in CPI? Given the data comes out Saturday there could be small gapping risks for China proxies (AUD & NZD)
ECB speakers – see schedule below – with swaps market now pricing a 25% chance of a hike from the ECB on 14 Sept and with EURUSD testing June trend support, the various ECB speakers could be a highlight this week, with ECB President Lagarde the keynote.
Fed speakers – Fed speakers in the week ahead could perhaps be less impactful than their ECB comrades - still some names to put on the risk radar.
US500 - Break or Make Zone ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📊 After successfully rebounding from the previous major low at 4340.0, the US500 has displayed an overall bullish trend over the past few days.
However, it currently faces a formidable resistance level, which suggests that bearish pressure could emerge in the near future.
📉 For the bears to gain control, a break below the most recent minor low at 4487.0 is essential.
📈 Conversely, if the bulls maintain their dominance and manage to breach the 4540.0 resistance, we can anticipate further bullish momentum towards the subsequent resistance at 4600.0.
Which of these scenarios is more likely to occur first, and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich