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S&P 500 Daily Chart Analysis For Week of Sep 27, 2024Technical Analysis and Outlook: The S&P 500 Index has recently exhibited a classic gap-fill pattern, reaching 5739 with an adjusted Index Rally to 5763 during the current week's trading sessions. However, there is a strong likelihood of a retracement to the newly established Mean Support at 5700 in the upcoming week. This potential retracement could lead to a further descent to the subsequent Mean Support level at 5620, potentially disrupting the current trajectory. Conversely, a substantial rebound to the Outer Index Rally at 5840 may intercept an anticipated downward trend, nullifying the projected decline.
SP:SPX
by TradeSelecter
Upthrust After Distribution (UTAD) or Wall of Worry?On the 4-hour chart following Jerome Powell’s recent rate cut announcement, the price action was not as strong as expected. While some media outlets labeled this as part of the “wall of worry,” where markets continue climbing despite negative sentiment, I observed signs of a potential Upthrust After Distribution (UTAD) based on Wyckoff’s distribution schematic. The structure of the price, combined with key volume dynamics, led me to question whether this gradual upward movement was a true continuation or a deceptive distribution phase. Although the price has managed to sit just above the all-time high for multiple days, it hasn’t done so in a particularly strong way. Bearish divergences in the MACD and RSI indicate underlying weakness, and volume has remained light, signaling distribution rather than accumulation. While both a wall of worry and a UTAD can feature a slow grind upward, a wall of worry is typically supported by steady buying. In contrast, a UTAD appears similar but ultimately traps buyers before reversing sharply. The key difference here is the lack of strong follow-through above resistance and the mounting signs of exhaustion. In conclusion, despite the price holding slightly above the all-time high, the weak volume, bearish divergences, and fragile nature of this level suggest that we are more likely seeing a UTAD than a wall of worry. These factors point to distribution, and I expect a potential market reversal in the near term.
SP:SPXShort
by DHF82
Correction down for SPX500USDHi traders, Last week SPX500USD went up slowly (finish of wave 1?). I think we could see a correction down (wave 2) next week. Trade idea: Wait for a change in orderflow to bearish and a correction up on a lower timeframe to trade shorts. 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
OANDA:SPX500USDShort
by EduwaveTrading
A Fascinating Cycle in the S&P 500's ($SPX) Century-Long JourneyExplore this intriguing pattern in the S&P 500's performance over the past century, as highlighted by analyst Jay Kaeppel at Sentimentrader: - The Mid-Decade Boost: Remarkably, the 18-month period starting from October of a '4' ending year to March of a '6' ending year has consistently seen positive growth in the equity markets for the last ten decades - Visual Evidence: The accompanying chart illustrates the S&P 500's SP:SPX performance over the last 100 years, specifically highlighting the gains from October of years ending in 4 to March of years ending in 6 - Historical Success: We're on the cusp of this period once again. Historically, this timeframe has been lucrative, with the 1930s showing an impressive 64% return, while the 2010s saw a more modest, yet positive, return of about 4.5%. On average, returns of 35.8% were achieved during this periods - Cautionary Notes: While history provides a pattern, it's not a definitive predictor. Major fluctuations can and do occur Moreover, Jay points out that the current Shiller PE ratio stands high at 36.83 this October, potentially capping the upside when compared to starting points past decades in October of years ending in 4 -> Your Thoughts? Given this historical trend, do you believe that the trend in this decade will be positive again in the next 18 months, or do you believe that the current economic indicators make the patterns of the past irrelevant?
SP:SPX
by OfficerDonut
spx &nasdaq in an iminent drop of valuespx showing an iminent short going in value, where it can go? last time i tryed to do the math it would go arround 2700 but without any sure, the major stock whealtiest did a 3x wealth since covid drop, this could be another timer that can quintuple the value, or make more 15x time the value that they had before covid, it is an iminent drop coming, in my opinion, good for everyone even for world economies, to triple their whealth and put the profits in their balance sheet and put time their gdp growth, is a question of timing, after covid drop, that in my opinion, didnt had too much growth in manufactories and jobs, only people gowing ther whealth by the 'inflation' fault, anyway, there is an iminent drop in the stock market in the western countries, at least, im not into asian market but american indexes are in an eminent significant drop, in my POV.
OANDA:SPX500USDShort
by Carlosdrcunha
SPX Pending Short: An expanding ending diagonalBased on my Elliot Wave analysis, I believe that S&P500 is right now in an expanding ending diagonal that still has one more 3-wave to go and we should see the peak reached on 1st Oct 2024, at the opening of Tuesday session. A couple of questions that is on my mind: 1. Will we see a throwover or a truncation? 2. Is the wave count correct? What if it has already ended? Self-doubt is a good thing for it pushes us to look deeper and try to find the answer, or we find a workaround. For me, my solution to "What if I'm wrong?" will be the red trendline. If SPX breaks this trendline, I will go short even if I don't see another 3-wave. Good luck!
SP:SPXShort
by yuchaosng
1
S&P 500 Index Irregular Correction➖ The SPX produced a higher high yesterday compared to mid-July. This higher high is part of an irregular correction. ➖ This higher high is the B wave of a major ABC. The high bearish volume on the 20th of September, the highest since March 2023, indicates that the bears are very active on this index. ➖ Selling pressure has been going up while buying pressure has been going down. ➖ Subtle signals are pointing toward a new drop in the coming weeks. Namaste.
SP:SPXShort
by AlanSantana
12
S&P 500 Consolidates as Investors Await Key Inflation ReportU.S. stock index futures slipped on Friday as investors remained cautious ahead of a crucial inflation report, which could influence expectations regarding the size of upcoming Federal Reserve interest rate cuts. The S&P 500 has reversed from its all-time high (ATH) and reached the support level of 5,732. The price is expected to consolidate between 5,784 and 5,732 until a breakout occurs. A bullish trend would resume with a break above 5,784, targeting a new ATH at 5,890. Conversely, a break below 5,732 would confirm a bearish trend towards 5,675. Key Levels: Pivot Point: 5732 Resistance Levels: 5784, 5805, 5890 Support Levels: 5675, 5643, 5585 Trend Outlook: - Bearish: Below 5732 - Bullish: Above 5784
OANDA:SPX500USDShort
by SroshMayi
Hellena | SPX500 (4H): Long to area 5791 (Wave 3).Dear colleagues, it seems that the price continues the upward movement in the wave “3” of the higher and lower order. This means that two scenarios are possible: 1) I expect a small correction to the area of 50% Fibonacci level 5550, then continuation of the upward movement. 2) Price will continue the upward movement in wave “1”, possibly immediately to the area of 5791. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
OANDA:SPX500USDLong
by Hellena_Trade
9