SPX nearing a top !?Lagging behind Nasdaq (TECH), usually tops shortly after
Nasdaq already reached it's full fib extension, SPX few percentage points behind .. could it be the final topping phase as in 2022 ???
US500 trade ideas
US500 Index Price Analysis - Bullish OutlookUS500 Index Price Analysis - Bullish Outlook
US500 broke through the top of the large structure on 19-September-24 by confirming that the bullis wants to push the index into new highs.
After 20 days in an accumulation process, the price broke out of the pattern yesterday indicating further growth.
The reason of the bullish move was related to the FOMC minutes yesterday and the US CPI data can push it up further today as shown on the chart.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
SPX500Pair : SPX500 Index
Description :
Completed " 12345 " Impulsive Waves
Break of Structure
RSI - Divergence
Rising Wedge as an Corrective Pattern in Short Time Frame and Long Time Frame
Demand Zone
Us500 updateIs good to be true am not expecting anyone to follow my I deas but I want everyone to see clear trend while others are looking for sell am seeing unstoppable growth frost target 60k buy when everyone is selling n make money.
I see what is waiting for youIt is worth a little patience to limit 5835 to be a seller until 5894 for the goals of 5781 and 5619 to reach the final goal of 5467, be profitable and patient
Tatasteel share of Indian companyTatasteel share should go beyond 170, at present it traded on 158 but soon within 10 to 15 days it will reaches upto 170,. Those who wants to buy it option one can buy.
S&P 500 Reaches Another Record HighS&P 500 Reaches Another Record High
As shown by the S&P 500 chart (US SPX 500 mini on FXOpen), the leading US stock index set its 45th record of the year, closing above 5800 on Friday. This marks the fifth consecutive week of growth, with the index up more than 22% since the start of the year.
According to Reuters, the bullish market sentiment is driven by the start of Q3 earnings season, with companies possibly issuing bolder forecasts due to the beginning of the Fed’s rate-cutting cycle.
What are the prospects for the index until the end of 2024?
A technical analysis of the daily S&P 500 chart (US SPX 500 mini on FXOpen) shows:
In 2024, price action has been contained within three relatively narrow ascending channels (shown in blue), where:
→ The first two channels remained valid for at least 80 candles, and the third has now reached 30 candles;
→ The channels have similar slopes and widths;
→ Drawing lines through the high of Channel 1, the high and low of Channel 2, and the low of Channel 3 forms a larger channel (shown in orange).
If the bullish sentiment persists, the S&P 500 (US SPX 500 mini on FXOpen) may continue to rise within the third blue channel towards the upper orange line.
However, several factors could significantly impact the market before the year's end: → Labour market data, as well as Fed decisions and comments;
→ US presidential elections and budget approval;
→ Company earnings and forecasts that fall well below market expectations.
Goldman Sachs analysts predict that the S&P 500 could reach 6,000 by the end of 2024.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
SPX - The top is in!Hi ya traders,
Everything sure looks bull huh? Bet you even heard some strong bears switching to the bull side recently. 600 is in the bag they say! That's usually a warning sign :)
Anyways using fibs, trendlines, and patterns I show why I believe the Top could be in on the SPX. First the last three waves using fibs the 1.618's end right where we are now. Another big cool one is the 2008 crash fib is right here as well. It was at the 2022 tops as well. On many stock charts things look like the 2022 top (example Microsoft) . Also on Friday 10-11-2024 was the SPX 2007 ATH anniversary! Could we be topping on the same date? I say yes! Looking at Nvidia and many others that have recently held the market up they look like they are ready to head down as well. I also plot what happened after the ATH in 2007 on our current charts on the SPX.
Oh we also have rising wedge which we just hit the top of the trendline which goes back to august..so I doubt its going to break thru that here. This is a bearish pattern which usually breaks down eventually.
Now do I think we are gonna crash? No I don't think we will but you never know. I do feel we will have a decent pullback here. Could we still goto 600 and higher.. Sure.
Lets see what happens...
SPX: a fresh new highest levelThe equity markets in the US continue to move within a positive sentiment during the Q3. The S&P 500 reached a fresh new highest level during the previous week, closing Friday's trading at the level of 5.815, and gaining 1,1% on a weekly basis. This week, tech companies were not in the focus of the market, but the positive sentiment was boosted by the financial industry. The banks posted their Q3 results which were not in line with market expectations, however, the market was pricing the potential for the future earnings. Shares of JPMorgan surged by 4,4%, while Wells Fargo was traded higher by 5,6%. Strategists from UBS bank are also quite positive on the future earnings of the US banks, noting JPMorgan, Wells Fargo and BlackRock as potential strong performers.
Tech companies were traded in a mixed manner during the previous week. On one side were higher gainers, like Super Micro Computers with a gain of 15% and Palo Alto Network, which surged by 9%. At the same time, Tesla shares were traded down by 7,5% after the company's announcement of the robo-taxi.
Another support to the market optimism came from US inflation data for September. The data showed that the Fed might easily make another 25 bps at their November meeting. As per CME FedWatch Tool, there is 90% odds that the Fed will cut in November.
Amazing Long- Term Fibonacci Time CycleThe Fibonacci sequence is as follows (1,1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, ---to infinity)
Within the last 34 – years there have been 4 significant SPX turns on or near October 11th.
October 11, 2024 could be the 5th turn – this time a top.
Additionally, the SPX - 2002 to 2007 was almost an exact Fibonacci 5 – years.
If the current bull market which began in October 2022 tops now, it will have lasted a Fibonacci 2 – years.
S&P 500 index - When will the bull market ends?A linear regression channel spanning over a dozen years doesn’t lie — the graph depicts the S&P 500 index using candlesticks in monthly intervals on a logarithmic price scale. We are entering a danger zone in the coming months! Naturally, the earlier the drop, the less painful it will be.
SPX- Countdown to Price DownEverything that we would say in this post we have already said
Now we wait.....
US Markets Demonstrate Confidence Despite Election JittersThe US markets are currently demonstrating a bullish sentiment, despite concerns surrounding the upcoming election.
All major indices, including the S&P 500, NYSE Composite, and Nasdaq Composite, have formed a bullish Cup & Handle chart pattern and have subsequently broken to follow an upward trend.
While the S&P 500 and NYSE Composite have reached new all-time highs, the Nasdaq Composite is close to its highest peak, further reinforcing the positive market outlook.
'This overall bullish sentiment suggests that the upward trend in the US markets is likely to continue, even in the face of election-related uncertainties.
Possible Buy Trade on US500 / S&PThis is my analysis trade for US500. Weekly is bullish all the way down to 4H for HTF direction.
I will not chase the price instead. I will wait for the pullback for the price to go to my buying zone
for the OB which are showing up from 4H all the way down to 15M timeframe. So for me, this is the best location to buy again for another possible round of bullish action for this market.
I added a trade alert so I will not look at this pair in the week until my alert gets triggered.
Once price goes to my buy zone and I get my alert, that's the time I will go down and find my possible trade entry on lower timeframe so I can have a tighter stop loss and possibly get a better risk reward ratio.
Possible target would be the all time high price as well.
I will update my trade idea here once price goes to my buy zone for my possible entry on the lower timeframe.
S&P500 INDEX (US500): Bullish Breakout & ContinuationThe US500 Index has successfully broken above a significant daily horizontal resistance level and closed higher.
After this breakthrough, the market retested the broken level and began to consolidate.
A bullish breakout from the upper boundary of this consolidation range would serve as strong confirmation of an upward trend.
This scenario enhances the chances of sustained upward momentum, with a target set at 5,880.
S&P500 INDEX (US500): Bullish Breakout & ContinuationThe US500 Index has successfully broken above a significant daily horizontal resistance level and closed higher.
After this breakthrough, the market retested the broken level and began to consolidate.
A bullish breakout from the upper boundary of this consolidation range would serve as strong confirmation of an upward trend.
This scenario enhances the chances of sustained upward momentum, with a target set at 5,880.
S&P500 INDEX (US500): Bullish Breakout & ContinuationThe US500 Index successfully surpassed and closed above a strong daily horizontal resistance.
Following the violation, the market tested the previously broken level and began to consolidate.
A bullish breakout from the consolidation range's resistance line provides a robust confirmation of a bullish trend.
This increases the likelihood that the upward momentum will persist, with a target set at 5,880.
SPX - time for a pullbackHello traders.
Today using simple trendlines and fibs I show why I believe we are gonna dip from here. We could still make it to 600 but we need to dip now from the top of a rising wedge trendline thats from August. Also the little dip in Oct has us reaching the 1.618 fib up from that which is a classic reversal point.
Ok the question now is how big of a dip.... The white box target area bounce would leave the rising wedge intact. I really think it needs to drop to one of the lower boxes so it will have enough energy to go much higher into EOY.
Everyone is saying directly up to 600 from here. So its possible we could have a bigger dip as so many being long right now. That would in effect squeeze us lower.
Also we have the possibility of Israel attacking Iran at any moment in retaliation.
What do you think?
Let's see what happens!
WARNING: SPX (SP500) Topping out Between Now and Mary 2025📈⚠️ Equities are likely topping out between now and next May! Time to scale out of stocks and shift into cash and hard assets, especially #PreciousMetals and #Miners. 💰🔄
Don’t pick up pennies in front of a steamroller! Wave 5 on the #SP500 is nearly complete—price and time are balanced.
🚨 A MAJOR correction is coming! If your net worth is heavily in US Stocks, Bonds, and US Real Estate, it's time to diversify further. These asset classes are about to face heavy pressure! 💥💸
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SP:SPX
When is the party over?Inflation ticking back up. Unemployment increasing. Dollar increasing. Geopolitical turmoil. Contentious elections. And yet the market continues to grind up. But when will the music stop? When is the party over?
I'm not making a call to mark the top here but this is setting up for a giant fall. We could continue to grind up to 6000 point, there's no doubt that bulls remain in control. However, the strength of the move up is weak. History doesn't repeat but it often rhymes. Looking back at the historical data, bearish divergences on the Weekly always result in a large pullback.
I am expecting a pull back soon. I do believe a large correction is brewing and I don't want to be caught on the wrong side of the trade.
What am I doing about it? I still think the path of least resistance is to the upside, bulls remain control. So I am using trailing stop losses, taking profits on many of my positions. And looking to open shorts upon weakness. Waiting for confirmation of my bias, especially with a very important couple of weeks of earnings.
Stay tuned, manage your risk and don't let greed get the better of you!
Not financial advice.
More up for SPX500USDHi traders,
Last week SPX500USD started a small correction down. It's too small for a wave 2 so I've adjusted the wavecount.
I think we could see a continuation of the upmove next week to finish the wave 3.
Trade idea: Wait for a change in orderflow to bullish and a correction down on a lower timeframe to trade longs.
If you want to learn more about wave analysis, please make sure to follow me, give a like and respectful comment.
This shared post is only my point of view on what could be the next move in this pair based on my analysis. I do not provide signals.
Don't be emotional, just trade!
Eduwave
S&P 500 Daily Chart Analysis For Week of Oct 11, 2024Technical Analysis and Outlook:
In the previous week's Daily Chart Analysis for the Week of October 4, it was observed that the index maintained considerable strength at the Mean Sup 5700 on Monday. The remaining days of the weekly trading sessions have demonstrated substantial and vigorous progress, surpassing the previously completed Inner Index Rally at 5763 and its progress towards the Outer Index Rally at 5840. The upcoming trading session will demonstrate further sentiment regarding the bullish sentiment to hit the 5840 target. However, recognizing that achieving the 5840 mark will incite a volatile downward price action is crucial.
S&P 500 locallyS&P 500 moved pretty high today, but don't fall for a bull trap, it's just a part of the correction. The price is moving in a descending channel right now and I expect that it will go down to the support area at 5650 tomorrow and hit a red trendline. Then it will either go for a deeper correction or maybe start a new growth wave.
