ES1! SPX500USD 2023 APR 17 WEEKCME_MINI:ES1!
ES1! SPX500USD 2023 APR 17 WEEK
Friday's bar closed below 4175 and showed a rejection
of higher prices.
Scenario Planning:
1) Rejection short at 4175
2) Market rotation continues = trade at boundary (80pt range)
of range (grey box)
3) Rotation breakout long at support of 4175
Volume Analysis:
Weekly: Ave vol up bar close off high = minor weakness
Daily: High vol narrow spread S>D bar = weakness
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
4303 4175 4096
3928 3788
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Have a profitable trading week.
Us500
S&P500: Breaking key Resistance but the 1W MA50 has to holdThe S&P500 crossed this week over the LH trendline of the August 15th rejection on the 1W MA50. Proportionally this can be compared to the April 18th 2016 breakout. The key for a sustainable uptrend on that occasion was the 1W MA50. It held twice and sustained a long term uptrend. With the 1W technicals turning marginally bullish (RSI = 56.614, MACD = 37.390, ADX = 36.682) and the RSI on a similar HL trendline with 2016, we expect a few weeks of sideways trading and if the 1W MA50 holds, we have a legitimate case for a new long term Bull Cycle.
Prior idea:
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SPX to find support at trend line?US500 - Intraday - We look to Buy at 4096 (stop at 4066)
Posted a Bullish Outside candle on the Daily chart.
There is no sign that this bullish momentum is faltering but the pair has stalled close to a previous swing high of 4153.
The bias remains mildly bullish but there is scope for a move in either direction at the open.
Trading within a Bullish Channel formation.
Further upside is expected although we prefer to set longs at our bespoke support levels at 4091, resulting in improved risk/reward.
Our profit targets will be 4166 and 4186
Resistance: 4155 / 4196 / 4230
Support: 4091 / 4047 / 4018
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S&P500 starting an expansion the likes of which we've never seenThe S&P500 index (SPX) is trading on a multi-year Channel Up pattern that started on the March 2009 bottom of the Housing (subprime mortgage) Crisis. With all the talk lately on whether or not the index is out of its Bear Phase, this chart can offer great insight on the long-term trend.
As you see, it shows that the Bear Market's bottom was priced in September 2022 exactly on the 1M MA50 (blue trend-line), which has served as a Support both on December 2018 (peak of U.S. - China trade war) and January 2016 (China's slowdown, VW scandal, Oil crash). As we are all aware March 2020 was an exception (black swan event) that happens once in a hundred years. Still the 1M MA100 (green trend-line) supported.
The key here is the 3W RSI. It is trading within a Channel Down and every time the price hit its bottom, a multi-month rally started. The last two times that rally peaked on the 3.0 Fibonacci extension. Calculating the new 3.0 Fib from the 4840 top to the 3500 bottom, it gives roughly a 9000 projection. So since this is only the start on this Expansion Phase within the multi-year Channel Up pattern, it is not at all unlikely to expect steady growth from the current levels and a rough 9000 peak by 2027.
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SP500 a short term uptrend 🦐SP500 on the 4h chart after the test of the weekly support at the 3840 structure started a series of higher highs higher lows move.
The price that already tested a few times the 4000 level has retraced over a previous support area exactly at the 50% retracement and is now looking for a potential break .
How can i approach this scenario?
I will wait for the EU market session and monitor the price action for a possible break that will possibly happen in the US session and i will look for a nice long order according to the Plancton's strategy rules.
SPX 500 Will Target $4180 Quickly. BE PREPARED!This week we are expecting price to move upwards near TADAWUL:4180 and make its way near TSE:4237 by the end of next week.
All timeframes above H4 are currently bullish. Our outlook is to make several long positions within the H! towards the intended targets.
With inflation data and quarterly earnings being released this week, we can anticipate that stocks will most likely start a bullrun.
US500, 10d+/-9.8%falling cycle -9.8% more than 10 days.
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This data is analyzed by robots. Analyze historical trends based on The Adam Theory of Markets (20 moving averages/60 moving averages/120 moving averages/240 moving averages) and estimate the trend in the next 10 days. The white line is the robot's expected price, and the upper and lower horizontal line stop loss and stop profit prices have no financial basis. The results are for reference only.
S&P500 Buy this volatility.S&P500 is inside a Channel Up, similar to January, both within the great Channel of December.
As long as the 4hour MA100 holds, target 4250 (under the large Channel Up top).
If the 4hour MA100 breaks and makes a daily close under it, sell and target 3920 (over Support A).
Previous chart:
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S&P 500- Still targeting 4300+Hello traders!
Many times in previous post we talked about a primary wave (B) to the upside to conclude above 4300 for the S&P.
We believe that we are currently going for wave 5 of C, as also the inverse head and shoulder suggests.
clearer picture on Nasdaq, where W pattern and descending broadenign wedge are targeting at least 13600 for this upside correction (end of double zig zag).
There we will re consider the possibility of a short, tracking the possible Wolfe Wave in the making.
For now, we opened a small long at the recent dip at 12909.1. Will update below!
Bests!
GMR
Irregular TRIANGLE still in the cards for US500Irregular TRIANGLE still in the cards for US500
CPI NEWS incoming today and this could trigger the start of a NEW SWING LOW.
S&P500: The 1W MA100 and 0.5 Fib are the biggest hurdles.The S&P500 gives a very clear impression as to what the situation is on the 1W timeframe. Despite the recovery early this year with the index crossing above the 1 year LH trendline, thus getting out of the Bear Cycle, the 1W technicals are basically neutral (RSI = 56.583, MACD = 37.340, ADX = 36.258). A big part of it is because the index has been ranging inside the R1 and S1 Zones since November.
Key levels to watch are 1) the 1W MA100, which hasn't been hit August 22nd and hasn't made a weekly closing above since August 15th and 2) the 0.5 Fibonacci level, which despite having candle's crossing over it, hasn't made a closing since (again) August 15th.
According to this, a last pullback to S1 is possible and then the decisive rebound that will make a Higher High on the 5 month Channel Up on the 0.618 Fibonacci, below R2 (TP = 4,300).
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S&P500 FIrst time in 2 weeks to hit the 4H MA50The S&P500 index (SPX) has extended its rise since our buy call 21 days ago:
The price is at the moment on the 4H MA50 (blue trend-line) for the first time since March 28. The Higher Lows trend-line below offers an additional Support level, with the last resort being the 4H MA200 (orange trend-line) below, in case the 4H RSI breaks towards the Green Zone. Regardless of this minor technical pull-back, our Target remains 4190 just below the Resistance (February 02 High), with the Higher High extension of the Channel Up showing potential for even 4250.
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Waiting for confirmations to short ES - SP500 - US500
Hello Everyone,
This is my analysis about the SP500, since we're having a bad data on the PMI Services and if Friday delivers a bad interpretation of the NFP news, i want to see a retracement into the premium key levels and see in a lower timeframes a confirmation of a bearish move, then i'll proceed to short and targeting the fair value area and a lower prices.
This is not a financial advice, the idea is for study purposes. In any case, it is not meant to give you a signal.
This is just a way for me to read the markets.
"Bad news" are becoming bad newsBad financial data for the U.S. market continues to stack up. This week, we saw a slump in ISM non-manufacturing PMI to 51.2 (from the previous figure of 55.1) and ISM manufacturing PMI to 46.3 (from 47.7 in the preceding print). In addition to that, we also saw that factory orders declined by 0.7% (MoM) in February 2023, and JOLTs job openings fell below 10 million for the first time in nearly two years. Finally, as if it was not enough, ADP employment change came in at 145 000 (vs. 261 000 in the previous release), far below expectations. More data is scheduled for release today, including initial jobless claims, continuing jobless claims, and total vehicle sales. While we can speculate whether these numbers will be good or bad, we can hardly argue about the increasingly apparent trend of worsening economic data (among various metrics). With that said, we believe the market is reaching a point when data will start to matter again (especially after a decade of disregarding fundamentals as unimportant). As a result, “bad news” will become bad news, no longer sparking speculation about the U.S.'s ability to dodge a recession. Accordingly, we remain bearish on the index and maintain our price target of $3 400.
Illustration 1.01
Illustration 1.01 displays the daily chart of SPX and two simple moving averages. It also shows sloping resistance and two sloping supports. A breakout above the sloping resistance will be bullish, while a breakout below support levels will bolster a bearish case.
Technical analysis gauge
Daily time frame = Slightly bullish (weak trend)
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.
SPX RALLY CONTINUESAll indicators are showing a continuous rally on the SPX. Despite closing lower on Tuesday and Wednesday, the index rebound in the next two trading days and almost managed to reach the opening levels from Tuesday.
Both MACD and RSI are confirming the bullish trend, with MACD histogram being above zero and RSI above 50 neutral line.
If this scenario continues, the price might reach levels of 4312.In the opposite scenario, as a pivot point might be viewed the price of 4000, after it new lows of 3925 might be reached.
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US500 Set To Grow! BUY!
My dear subscribers ,
US500 looks like it will make a good move, and here are the details:
The asset is approaching an important pivot point 4113.6
Bias - Bullish
Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market.
Target - 4185.5
Recommended Stop Loss - 4072.9
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
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WISH YOU ALL LUCK
HANG SENG BUYIncreasing confidence for global economic resilience in 2023. Global growth for 2023 has continued to improve. The U.S. has started the year with a degree of momentum, even if activity could wane as the year progresses. Chinese activity is bouncing back as the economy reopens, while the Eurozone is likely to benefit as energy prices have receded and headline inflation has slowed. While banking and financial sector strains have clouded the outlook to some extent, we ultimately believe authorities will do whatever is needed and will be successful in containing those difficulties. Against that backdrop, our upwardly revised forecast means we now expect the global economy to avoid recession this year.
US30, US500 S&P Next Weekthe value is on a overbought state
Looking for a M shape return to fib's 62% level next week
+ US bad data
+ Bank crisis
+ Growing fear of rates
US500 H4 | Potential bounce off from 23.6%?Looking at the H4 chart, it appears that the price is nearing our buy entry at 4058.68. This level is a pullback support level, accompanied by a 23.6% Fibonacci retracement. Our take profit level is set at 4135.55, which is a swing high resistance. We will set our stop loss at 4007.06, which is a pullback support level that aligns with the 38.2% Fibonacci retracement
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US500 | Bearish SentimentThe US500 is currently showing a strong bearish sentiment, with several indicators pointing towards further downside potential. The moving average ribbons are sloping downwards, indicating a clear downtrend, and the momentum of the market is also in a bearish direction.
In terms of price action, the US500 has been exhibiting a clear bearish trend, with lower lows and lower highs being formed over the past few weeks. This suggests that selling pressure is increasing, with bears firmly in control of the market.
Given these factors, it seems likely that the US500 will continue to experience downward pressure in the near term, with further declines possible as the bearish momentum builds. Traders should exercise caution when considering long positions, as the overall outlook for the market is bearish.