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Beautiful $SPX price action, ascending triangleLONG TERM TREND: Neutral/Bearish TIMEFRAME: Intraday What a textbook ascending triangle pattern we're witnessing on SP:SPX today! 👀 Price action has been absolutely pristine, giving us multiple touches on both the ascending support trendline and the horizontal resistance. Each bounce off support has been getting progressively higher, while sellers continue defending that key overhead level - classic ascending triangle behavior. The swings within this pattern have been a trader's dream - offering clean entries and exits for those playing the range. We've seen buyers step in with conviction at each test of the rising support, leading to predictable bounces. However, there's a concerning development here... While ascending triangles are typically considered bullish continuation patterns, the momentum on each bounce is getting noticeably weaker. Volume has been declining throughout the pattern formation (a bearish divergence), and the last two tests of resistance showed significant rejection wicks. If this declining momentum continues, watch for a break below the ascending support line. Such a break would likely trigger a cascade of stops and could lead to an accelerated move lower. Key levels to watch would be 5950, 5940 and ultimately 5925. Remember to always manage risk and size positions appropriately. No pattern is guaranteed to play out as expected. What are your thoughts on this setup? #SPX #TechnicalAnalysis #ChartPatterns
CAPITALCOM:US500
by TradeSniper_com
1
Great trade in SPY!!!For an aggressive trader, you can buy now and place your stop at $5848, which is a safe zone because if the market falls below this price, the bull market would also be invalidated. My target would be $6193, which is the last leg plotted at the bottom of the pivot. To support this position, we observe that the SPX has pulled back to the 0.5 Fibonacci zone and the previous high, and the stochastic is in the oversold area. This trade offers a 4% gain and a 1.77% loss.
SP:SPXLong
by igorwolwacz
NAS 100 Execution , Taken out at break even The luck was just not in my side , My TP was missed in just a Tick but the trade management was top notch and that is what am learning to do well , This was An A setup for me and a low because of the low hanging objective but I wanted to see the market deep more like 10 handles below the sell side liqudity , If you will be seeing this past 30th, my subscription will have expired I just had one month subscription so am asking someone of goodwill if he /she can gift me a subscription so I can compete on the leap completion , Thank you .
PEPPERSTONE:US500Long
by murimilm2022
S&P 500 index Wave Analysis 19 November 2024 - S&P 500 index reversed from support zone - Likely to rise to resistance level 6000.00 S&P 500 index recently reversed up from the pivotal support level 5850.00 (former multi-day resistance from October). The support level 5850.00 was further strengthened by the lower daily Bollinger Band, support trendline from August and the 50% Fibonacci correction of the upward impulse from the start of November. Given the clear daily uptrend, S&P 500 index can be expected to rise to the next round resistance level 6000.00.
CBOE:SPXLong
by FxProGlobal
Retesting support on the S&PThe Dow ended a touch lower last night, but otherwise US stock indices closed with modest gains. Earlier in the session, all the majors rallied off intermediate support levels which were being tested after last week’s pullback. Overnight, the major indices built on Monday’s gains but then sold off sharply on the European open. Investors were rattled by a statement from Russian President Vladimir Putin concerning the use of nuclear weapons, should Russia be attacked by conventional weapons backed by a nuclear power. This has taken the Dow, S&P, NASDAQ and Russell 2000 back to support once again, indicating that investors remain nervous with the stock price of many corporations trading at rarified levels. Just focusing on the S&P, there’s a band of support which runs down from 5,870 to 5,800. So far, support has held at the top end of this range which is positive news for the bulls. If prices can continue to steady, then there’s a reasonable chance that US stock indices could soon have another attempt to take out the record closes hit at the beginning of last week. But there are also reasons to be cautious. Geopolitical concerns aside, the giant corporations in the ‘Magnificent Seven’ currently account for around a third of the S&P 500 by market capitalisation. That represents a significant overvaluation. This could be tested after tomorrow’s close when NVIDIA, currently the largest corporation in the world by market capitalisation, releases its latest earnings update. If the generative AI chipmaker beats forecasts, and once again issues positive forward guidance, then this could provide a base for another surge in tech stocks. But any slither of disappointment could result in a sharp sell-off as investors rush to cut their long side exposure. Investors are already getting antsy following reports yesterday that NVIDIA’s new Blackwell chip has been overheating. The other concern is elevated bond yields. US Treasuries have rallied sharply since mid-September, following the Fed’s 50 basis point rate cut. Yields jumped again after Trump’s election victory. The key 10-year has pulled back from its highest levels, and is down around 4 basis points this morning on safe-haven bond buying. But it remains elevated, and not far below 4.50% - a level which could, if breached, cause concern for investors, leading to a drop in risk appetite.
TRADENATIONSB:US500
by TradeNation
SPX WEEK OF 11/18/24SPX WEEK OF 11/18/24 To maintain simplicity, once the price moves beyond the WHITE range, monitor for a potential retest of the breached level. Be prepared to initiate long or short positions targeting the YELLOW ranges.While prices may surpass the YELLOW range targets, these levels provide a robust framework for securing profits. 🎯🫡 *These levels are derived from comprehensive backtesting and research, demonstrating over 90% accuracy. This statistical foundation suggests that price movements are likely to exceed initial estimates.*
SP:SPX
by J3Trad3s
Sell OpportunityPotential Trade Setup: Short Position: The analysis suggests a short trade idea based on the rejection at the top and the weakening momentum. Entry: Around $5,875.57 (current level). Stop Loss: Above recent highs (potentially around $6,036). Take Profit: Targeting a move down to $5,448.32, which is a 7.27% decline from the current price. Risk-Reward Ratio: The setup targets a significant downside move, making it a potentially high-reward trade, assuming a well-placed stop loss. Analysis Breakdown: Current Price Action: The S&P 500 is currently at $5,875.57 after a significant upward trend. There is a visible rejection near a recent high, suggesting a potential reversal or pullback. Volume Profile: The volume profile on the left indicates areas of high trading activity (high liquidity zones). Strong volume nodes can be seen at the $5,560 level, which may act as a support area during a pullback. Support and Resistance Levels: Resistance: Key levels are marked around $6,016 and $6,036, representing recent highs. Support: There are several support levels, with the critical zone highlighted at $5,560.47. Below this, the next support is seen at $5,446.54 and $5,359.70. Trend Line: The trend line shows a break or a test of the uptrend, which could indicate a bearish move if the index fails to hold above it. Squeeze Momentum Indicator: The Squeeze Momentum Indicator at the bottom is green, indicating bullish momentum, but there are signs of slowing momentum, which could precede a pullback.
SP:SPXShort
by GODOCM