SPX500 watch 5900 then 6103: Double Golden zone Was/Will be TOP?SPX500 with a ferocious recovery after tariff relief.
About to test a most important zone of its lifetime.
Double Golden zone of a Genesis plus a Covid pair.
Such a tight confluence of two major Goldens is rare.
It warned us of a top BEFORE Trump even won (click).
The retest could form a "Wave B" or "Bull Trap" lower high.
It is PROBABLE that we "Orbit" these high gravity objects for a while.
It is PLAUSIBLE that we "Blast" by them but have to retest soon after.
It is POSSIBLE that "wave B" ends here and we drop deep for "wave C".
I am personally a bull, but we should be PREPARED for a BULL TRAP.
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Previous Plots below
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5901 TOP warning:
5668 Tariff warning:
5100 Tariff Relief Entry:
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US500AUD trade ideas
SPX week & month review 5/30/25Intrigued by today as we closed the month and week. The charts appear bullish until something changes that. Key points I noticed...
*Monthly morning star pattern
*RSI above 50 on month and week chart
*MACD over zero line and signal up on month and week chart
*Key levels holding up (21 ema, FVGs)
We are still in volatile times and narratives are being thrown all over the place. Do you see what I see? Enjoy your weekend.
SPY update for todayHello everyone,
Not much new to update today, the main highlight is that the market has broken down from the trendline. This is definitely something to take note of. However, today’s move came with relatively low volume, which suggests that while price dropped significantly, there wasn’t a lot of strength behind the move.
This reminds us of a key principle in trading: the market can do whatever it wants. It may look bullish today and turn bearish tomorrow. So always react to what the market is showing you, not just what you expect it to do. Easier said than done, I know, but it's essential.
Looking ahead, this potential pullback could present better entry opportunities, assuming the market doesn’t flip into a full bearish meltdown. For now, we need to give the market some room to breathe, observe how it reacts at key levels, and stay patient for the right setup.
Remember: we're still in a broadly bullish environment. So let’s wait for strong reactions at the right price points before jumping in.
S&P 500 USD 4 HR./ CORRECTIVE WAVE B NORTH IS LIKELY OVER!1). Price is very likely heading towards the fair Market value @ 5300. 2). Risk Assets are Weak today on US$ strength! 3). BANKS ARE SELLING! 4). Volume is dropping. 5). Trendline is intersecting with target fib. level 50% TOWARDS 5300! 6). Corrective wave C is likely dropping to complete wave 4. 7). At the bottom of wave 4 we will look for a long (Buy) position!
Skeptic | SPX 500 Update: Bullish Breakout Brewing?Hey everyone, Skeptic here! It’s been a while since we’ve checked in on the SPX 500 , but the market’s now flashing a killer long opportunity with a high R/R—don’t miss this one! 😊 Stay with me to the end for the full breakdown. Let’s dive into the Daily Timeframe to set the stage. 📊
Daily Timeframe: The Big Picture
The SPX 500 pulled off a deep correction , dropping from a high of 6154.64 to lows around 4810.39 with some wild shadows that caught everyone off guard. But now, it’s firing up with fresh momentum, carving out higher highs and higher lows that scream bullish strength. The corrections in this new uptrend are super shallow and flow with the trend—exactly what we want to see! After hitting resistance at 5961.82 , we’ve had a slight pullback, but it looks like this correction is wrapping up, and we’re on the verge of the next big uptrend leg. Let’s zoom into the 4-Hour Timeframe to hunt for long and short triggers.
4-Hour Timeframe: Long & Short Setups
On the 4-hour chart, the correction shaped up as a descending trendline . We broke it, pulled back, and now we’re primed to crack 5895.39. A breakout above this level is our main long trigger. To get more precise, let’s check the 1-Hour Timeframe.
For the long setup , a clean break above 5896.34 gets us in the game. This move also busts through P.P. Level 1, giving us solid confirmation, and we could ride the wave up to P.P. Levels 3 or 4, targeting 5930.83 to 5956.97 . Those are prime spots to lock in some profits, but don’t close the whole position—since we’re trading with the trend, we can hold for more upside. For shorts, I’ve got nothing. Going against this bullish momentum would be pure madness! I’d wait for a sharp drop below support at 5849.67 before even considering short triggers, but right now, there’s zilch.
💬 Let’s Talk!
If this update sparked some ideas, give it a quick boost—it means a lot! 😊 Got a pair or setup you want me to tackle next? Drop it in the comments. Thanks for hanging out— let’s grow together and remember: Weathermen forecast. We trade! :))) ✌️
S&P 500 MAJOR REVERSAL INCOMING? | SPX500 SELL ZONE HIT SPX500 just tapped into a critical supply zone near 5985 and has started pulling back. Is this the beginning of a deeper correction? Here’s what I’m watching 👇
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📊 Key Technical Zones:
🔵 Supply Zone: 5985 – 6000 (Strong historical rejection zone)
⚠️ First Support: 5436.1 – potential bounce area, but already tested
🧱 Major Demand Zone: 4990 – heavy volume base, ideal buy zone for bulls
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🚨 Bearish Clues on the Chart:
Price got rejected at the top of the supply range with a strong wick.
Bearish divergence on recent highs (not shown here but evident on RSI/MACD).
Clean downside structure could target 5436, then 4990 if broken.
📉 Downside Projections:
First TP: 5436
Final TP: 4990 (big institutional interest)
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🔁 Possible Scenarios:
1. 🔻 Bearish Continuation: If we break below recent support near 5880, expect speed towards 5436.
2. 🟢 Bullish Fakeout: Only a strong breakout above 5985 invalidates this setup.
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🎯 Trade Idea (Educational):
Entry: Break and retest below 5880
SL: Above 5985 zone
TP1: 5436
TP2: 4990
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📅 June Will Be Volatile – Stay prepared.
💬 Do you think this is the start of a correction or just a dip before ATH?
🔔 Follow @FrankFx14 for clean and professional chart updates! 👍 Like, 🔁 share, and 💭 comment your thoughts below!
SPX, Final choppy leg upExpecting choppy ending diagonal wave 5 up to 6130-6200area. Followed by a larger wave 2 correction at the next higher degree/ set up for the a larger wave 3 wave to new ATH. ( Tax cuts/ rate cuts ).
How low will wave 2 go? ( somewhere in the green box most likely). Will we need to monitor its structure going down. Trump will not let market collapse to far If he can help it... And he can help it.
SPX: This is what I see happening...This will be a roller coaster ride for the next year or two. I am seeing 3 waves structures everywhere....a ginormous ending diagonal finish that may take SPX to 7500 to 8k. What comes next will be anyone's guess! For now, need to stay vigilant and manage money with caution.
Throw over top?On a 6 month time frame, price diverged from the trendline in the first half of 2019, their was some apprehension in 2022, but then everyone bought the dip..
Shaded area could be the throw over top, and prices could potentially reverse going forward to the 2nd half of 2025 and beyond, or it could just be a consolidation zone
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Entry 📈
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Stop Loss 🛑
📍 Set your Thief SL at the recent swing low (5640) on a 4H timeframe for day trades.📍 Adjust SL based on your risk appetite, lot size, and number of orders.
Target 🎯
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SPY update - still bullish!In today’s session, we saw an increase in volume without significant price movement. This could indicate underlying uncertainty or a potential shift in momentum.
At the moment, price is still respecting a key trend line and several support levels. Until these are broken, it's too early to confirm whether the broader market is turning bearish.
🧠 I also want to point out that the price is forming an ascending channel, often a reversal pattern, especially when occurring at market highs. While we’re seeing some bearish signs, it’s crucial to remain patient and let the market show its hand.
📊 As always, the key is to observe, not assume, and be ready to adapt as the price action develops.
Thanks for watching the update, I hope it brought some insight and value to your trading journey!
S&P INTRADAY corrective pullback - support retest?Trump-Era Tariffs Canceled: A US court struck down the “Liberation Day” tariffs, effective immediately. This boosts sentiment for industrials, consumer goods, and global supply chain-reliant stocks. The government is appealing the ruling.
US Dollar Strengthens: The DXY is back above 100, up 1.8% from last week’s lows. A strong dollar helps importers but may pressure exporters and commodities.
Fed Rate Cut Expectations Decline: Markets now price 42 bps of rate cuts in 2024, down from 50 bps. This supports financials (e.g. banks), but challenges rate-sensitive sectors like real estate and small caps.
Mixed Eurozone Data: Positive Italian confidence figures offset weak German and French job numbers, offering slight global risk support. Limited direct impact on US stocks.
Fed Flags Stagflation Risk: Minutes show the Fed is worried about stagflation. This could weaken confidence in growth stocks and favor defensive sectors.
Today’s US Data Watch:
Q1 GDP 2nd estimate (expected -0.3%)
Weekly jobless claims
Fed speakers
All ahead of Friday’s key PCE inflation data
Market Outlook
Positive: Trade relief, resilient dollar, stronger bank outlook
Caution: Slowing growth, inflation worries, fewer rate cuts
Focus Areas: Industrials, financials, tech (watch for pullbacks); avoid rate-sensitive sectors short term
Key Support and Resistance Levels
Resistance Level 1: 6010
Resistance Level 2: 6070
Resistance Level 3: 6160
Support Level 1: 5780
Support Level 2: 5740
Support Level 3: 5700
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
US500 Is Going Down! Sell!
Please, check our technical outlook for US500.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 5,960.96.
Considering the today's price action, probabilities will be high to see a movement to 5,538.99.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Like and subscribe and comment my ideas if you enjoy them!
SPX: tariffs, againPrevious week was relatively calm when macro data were in question, however, the peace was interrupted with a new narrative regarding trade tariffs. The US Administration plans to set trade tariffs with the European Union at 50%. The US President recently noted that these tariffs are currently not negotiable. Such a narrative imposed a drop in the value of the US equity markets. The S&P 500 was traded with a negative sentiment during the week, dropping from 5.962 down to 5.802 at Friday's trading session.
Another news hit Apple shares, when the US President commented that this company has to pay 25% on all IPhones which are not produced in the US. After this post, shares of Apple dropped by 3% on Friday. Analysts involved in a matter are commenting that the transfer of IPhones production from China to the US would increase the price of IPhones by 25%. On the other hand, the company United States Steel surged by 21% after the US President's announcement of a deal and “partnership” with Japanese Nippon Steel.
At this moment analysts are in agreement that the market is set for a sell-off in case of any news related to trade tariffs. The positive sentiment is extremely fragile and this might continue for some time in the future.
S&P INTRADAY uptrend consolidation supported at 5793US Equities poised for a post-holiday rebound, with futures up following Donald Trump's decision to delay EU tariff implementation until July 9. The temporary reprieve has improved short-term risk sentiment, with the EU seeking to fast-track trade talks focused on critical sectors—potentially bullish for industrials, autos, and tech exporters.
Geopolitical Risk Elevated
Western pressure on Russia is intensifying:
Germany's decision to allow Ukraine long-range strikes into Russian territory marks a notable escalation.
Trump signaled potential new sanctions against Russia and sharply criticized Putin, increasing global risk premiums.
This could fuel defense sector strength and lift energy stocks if geopolitical tension drives oil prices higher.
FX Pressure – USD Weakness Persists
The U.S. dollar remains under pressure, despite a slight intraday bounce. It has fallen over 7% YTD, hitting its lowest level since 2023 last Friday.
Speculative traders and hedge funds are building USD short positions.
Drivers of weakness: Trump’s tariff rhetoric, and concerns over the expanding U.S. fiscal deficit.
Trading Implications:
Risk-on tone favors growth stocks, tech, and cyclicals.
Multinationals may benefit from USD weakness, improving earnings translations.
Defense stocks (e.g., RTX, LMT) could gain from the escalation in Ukraine.
Watch for volatility as headlines shift around trade, tariffs, and Russia.
Key Support and Resistance Levels
Resistance Level 1: 5970
Resistance Level 2: 6010
Resistance Level 3: 6085
Support Level 1: 5793
Support Level 2: 5730
Support Level 3: 5685
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
SPX500USD - Key Levels to Watch Ahead of Major US Data!The S&P 500 Index (SPX500USD) is currently trading near a significant supply zone around 5885–5925. Price has shown clear rejection here multiple times, indicating strong selling pressure from institutional players.
Key Levels:
Resistance Zone: 5885–5925 (Supply Zone)
First Support: 5659.1 – former resistance, now turned key support
Major Demand Zone: 5355.3 – 5400, marked by high-volume accumulation (Visible Range POC)
Bearish Scenario: If price fails to break above the 5925 resistance, we may see a potential sell-off toward 5659 first, and possibly down to the 5355 demand zone, especially with upcoming US economic data later this week (as marked by the calendar icons).
Watch For:
Rejection candles or bearish engulfing around 5885–5925
Break and close below 5659 for further downside confirmation
Strong bullish momentum only above 5930 to invalidate bearish bias
Bias: Bearish unless 5930 is broken convincingly.
Technical Tools Used:
Supply & Demand Visible Range (LuxAlgo)
Volume Profile Support Zones
Price Action Structure (1H)
What do you think? Will SPX500 hold the resistance or break to new highs? Let’s discuss!
#SPX500 #SP500 #TradingView #Forex #Indices #TechnicalAnalysis #SupplyAndDemand #PriceAction #SwingTrading