Keep a close eye on this breakout!Traders,
Keep a close eye on this breakout on our fear index. So far, nothing significant has followed to the same level of price movement: the dollar is still under its macro-uptrend resistance, the US500 is still using its macro-uptrend for support logarithmically, and the US10yr/US2yr remains under resistance.
But we want to track this closely to find out the legitimacy of this spike in fear. Confirmation can be had if one of the indicators mentioned above follows and breaks its support/resistance (see yesterday's video for more).
Best,
Stew
Us500
US500 - Strong Support Zone Ahead!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
US500 is overall bullish trading inside the rising red channel and now retesting the lower red trendline.
Moreover, the zone 3900 - 3950 is a strong weekly support zone .
🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue support zone and lower red trendlines . (acting as non-horizontal support)
As per my trading style:
As US500 approaches the lower purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Two Big Indicators to Watch This WeekTraders,
There are two cautionary indicators that I want you to be aware of and to watch closely this week. One of them has to do with U.S. treasuries which lead our dollar strength/weakness. The other has to do with the 200 week moving average on the Bitcoin chart. Let's dive in and take a look at these two very important lead indicators.
Stew
SPX in a BEAR Market? Retracement before a BULL TrapIn this Elliott Wave paradigm, I'm assuming that SPX have completed a BULL Cycle with large wave 3 and that a possible Zig Zag correction is currently unfolding.
If that's the case then, we shouldn't expect any BULL Market or wave 5 before 2024.
However, the AI hype could boost the markets during the end of the year with a test of the 61.8% and maybe above that price level.
The PERFECT BULL TRAP will be in play if this case were to play out.
Of course, we could already assumed that wave B has already finished but I take DURATION into consideration and other macro economics factors.
I'm expecting a correction of of nearly 50% in the short term (next couple of months) to then see a rally up until the end of the year. Maybe November.
ES1! SPX500USD 2023 FEB 20
ES1! SPX500USD 2023 FEB 20
Scenario1 rotation play yielded 120pts gain
for week of 13 Feb.
Scenario Planning:
1) Rotational play = trade at boundary of 4175-4061 zone
2) Short on test and reject of 4094-4048 zone
Volume Analysis:
Weekly: Ave vol down bar close off low = minor demand
Daily: Ave vol up bar close toward high = Minor demand
H4: Ave vol up bar close toward high = minor demand
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
4175 4061-4048 3928-3788
3580 3502 3231
Remember to like and follow if you find this useful.
Have a profitable trading week.
US500(S&P) : Short Trade , 1hUS500 sell Entry : 4108.3
Stop : 4161.8 , Target1 : 4048.0 , Target2 : 4001.1
Risk/Reward Ratio : 2
S&P500 Channel Up broken downwardsThe price closed under the MA50 4H for the first time since January 9th.
Similar Channel Up pattern in December led to a 0.786 Fibonacci correction.
Trading Plan:
1. Sell on opening.
Targets:
1. 3955 (above 0.786 Fibonacci)
Tips:
1. A Double Bottom on the RSI 4H Buy Zone would be an excellent buy confirmation.
Please like, follow and comment!!
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).
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SPX short term trend has turned negative.US500 - Intraday - We look to Sell at 4091 (stop at 4127)
Price action has posted a bearish Outside Day and is negative for short-term sentiment.
An overnight negative theme in Equities has led to a lower open this morning.
Bespoke support is located at 3997.
Previous support, now becomes resistance at 4091.
Bespoke resistance is located at 4091.
Our profit targets will be 4001 and 3991
Resistance: 4091 / 4155 / 4174
Support: 4051 / 3996 / 3974
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S&P500 - Resuming leg upIt seems that this correction in wave 4 of C of primary (B) to the upside (targeting 4300+) finished before what we were expecting, at 4054. Price action in the descent looks choppy and a descending broadening wedge has formed. Nasdaq already broke its 4H bull flag.
We therefore closed our short and got long at 4120.3. Stop loss 4100 risk 0.4%
US500 Will Move Lower! Sell!
Hello,Friends!
US500 current trading paterns are clearly pointing
In the direction of a short trade
That is why I am bearish on the US500 pair
And I think it will go down!
Like and subscribe and comment my ideas if you enjoy them!
SP500 for a new recent high? 🦐The S&P 500 has been in an uptrend, characterized by higher highs and higher lows. This suggests that there is a bullish bias in the market, as buyers are willing to pay higher prices for the index.
The index recently experienced a retracement to the 50% Fibonacci level, which is a common technical analysis tool used to identify potential support and resistance levels in the market. Fibonacci retracements are based on the idea that markets tend to move in waves, and that retracements to certain levels (such as the 50% level) can provide potential buying opportunities for traders who believe the trend will continue.
Currently, the S&P 500 is trading below a weekly resistance level, which means that there is a barrier to further upside momentum. A resistance level is a price level where sellers tend to become more active, which can lead to a pause or reversal in the uptrend.
If the price were to break above the weekly resistance level, it could be seen as a bullish signal that could provide a new opportunity for a long order according to the MTB strategy.
In conclusion, it appears that the S&P 500 has been in an uptrend, but is currently facing resistance at a key level. If the price were to break above this level, it could provide a new opportunity for traders to enter long positions.
However, it's important to approach the market with caution and always be prepared for unexpected developments that may impact your trades.
S&P500 Short-term correction about to start.It appears that the Diverging Channel Up we spoke of last week eventually prevailed and the S&P500 index (SPX) is printing a Higher High formation similar to December 01 - 13. The pattern that carries this top formation is a Cup, which is now trading around the 4H MA50 (blue trend-line).
Based on the December fractal, the first target is the 4H MA200 (orange trend-line). A break below Support Zone 1 will extend our selling towards Support Zone 2, where near the bottom of the Channel Up we will place our long-term buys.
See how the 1D MACD Bearish Cross as well as the Lower Highs formation on the 1D RSI, also match those of the December peak.
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MARKET STRUCTURE IN US_500 (SP_500)The S&P 500 index is currently in a bullish trend, forming higher highs and higher lows. However, it recently created a series of equal highs, followed by a lower low. If the index breaks below the recent low, it could be an indication that the trend is turning bearish. On the other hand, if it breaks above the equal highs, the bullish trend is likely to continue. Traders should keep a close eye on these key levels and use them as potential points in their trades. Happy trading!