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Elliott Wave View Calling for S&P 500 (SPX) to Extend HigherShort Term Elliott Wave View on S&P 500 (SPX) suggests rally from 8.5.2024 low is in progress as an impulse. Up from 8.5.2024 low, wave 1 ended at 5651.6 and pullback in wave 2 ended at 5402.6. Index then extended higher in wave 3 towards 5878.4 as 45 minutes chart below shows. Wave 4 pullback unfolded as a Flat Elliott Wave structure. Down from wave 3, wave (a) ended at 5821.17 and rally in wave (b) ended at 5863.04. Wave (c) lower ended at 5762.4 which completed wave ((a)) in higher degree. Bounce in wave ((b)) unfolded as a zigzag structure. Up from wave ((a)), wave (a) ended at 5817.8 and wave (b) ended at 5784.92. Wave (c) higher ended at 5862.8 which completed wave ((b)) in higher degree. Index resumed lower in wave ((c)). Down from wave ((b)), wave (i) ended at 5802.17 and wave (ii) ended at 5850.94. Wave (iii) lower ended at 5702.8 and wave (iv) ended at 5772.5. Final leg wave (v) ended at 5696.06 which completed wave ((c)) of 4. The Index has turned higher in wave 5. Near term, as far as pivot at 5696.09 low stays intact, expect the Index to extend higher.
CBOE:SPX
by Elliottwave-Forecast
S&P 500 Wave Analysis 5 November 2024 - S&P 500 reversed from support area - Likely to rise to resistance level 5850.00 S&P 500 index earlier reversed up from the support area located between the key support level 5695.00 (which reversed the index for 7 consecutive days at the start of October) and the lower daily Bollinger Band. This support area was further strengthened by the 38.2% Fibonacci correction of the sharp upward impulse from the start of September. Given the clear daily uptrend, S&P 500 index can be expected to rise further to the next resistance level 5850.00 (former minor resistance from the end of October).
CBOE:SPXLong
by FxProGlobal
SPX500USD Will Move Lower! Sell! Here is our detailed technical review for SPX500USD. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 5,735.3. Considering the today's price action, probabilities will be high to see a movement to 5,643.6. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
OANDA:SPX500USDShort
by SignalProvider
2
SPx / Bearish Momentum Awaits Retest, Key Levels in FocusTechnical Analysis The price will likely attempt a retest around 5,755 or 5,781, after which a renewed bearish trend could push it toward 5,675 and 5,643. Bearish Scenario: Consistent stability below 5,781 may lead to a downward move targeting 5,734. A 1-hour or 4-hour candle close below 5,734 could activate the next bearish zone. Bullish Scenario: Should the price stabilize above 5,746, some bullish momentum may emerge toward 5,781. However, a reversal with stability above 5,803 would signal potential movement upwards, with targets at 5,824 and 5,850. Further Bearish Continuation: For a deeper decline, the price should establish stability below 5,715, paving the way for a drop toward 5,675. Key Levels: Pivot Point: 5734 Resistance Levels: 5755, 5781, 5803 Support Levels: 5715, 5675, 5643
OANDA:SPX500USDShort
by SroshMayi
How the U.S. Presidential Election May Impact the S&P 500 IndexHow the U.S. Presidential Election May Impact the S&P 500 Index Today, 5 November, the U.S. presidential election is underway, and it may serve as a significant driver of volatility for global stock markets. According to EuroNews, heightened market fluctuations are expected throughout the voting period on 5 November, potentially mirroring reactions observed during the Brexit referendum and the 2016 U.S. election. Newsweek notes that historically, U.S. stock markets tend to rise regardless of the election winner. In 2020, for example, American stocks rose immediately after election day and continued upward even as Trump contested the results. Investor’s Business Daily highlights Tony Roth, CIO of Wilmington Trust, who argues that U.S. stock markets could climb regardless of whether Harris or Trump wins, as both candidates provide viable economic paths that could support market sentiment. On 14 October, analysing the S&P 500 chart (US SPX 500 mini on FXOpen), we plotted three narrow upward channels (shown in blue), noting: → each channel has a similar slope and width; → connecting the maximum of Channel 1, the peak and trough of Channel 2, and the low of Channel 3 outlines a larger channel (in orange). Today’s technical analysis of the S&P 500 (US SPX 500 mini on FXOpen) shows the current index level near the lower edge of the third blue channel, with additional support around: → former resistance at $5678; → the lower orange boundary. Election results may trigger a volatility spike, potentially testing or reinforcing these support levels, which could shape future market momentum. 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.
FXOPEN:SPXM
by FXOpen
4
You Killed my Dog - Revenge TradingRevenge trading is a behavioral trap that can ensnare even experienced traders. It's the impulse to enter a new trade immediately after a significant loss, often fueled by frustration or a need to "win back" what was lost. However, succumbing to this urge can lead to further losses and greater emotional instability. This psychological cycle, if left unchecked, can spiral into a destructive pattern that can erode both account balances and self-confidence. 1️⃣ Understanding the Root of Revenge Trading At its core, revenge trading arises from the natural human response to loss. This reaction can be linked to what’s known as the "fight-or-flight" mechanism—when traders feel threatened by a financial loss, they experience a rush of adrenaline, which can result in impulsive decision-making. This initial phase often reflects the trader's attachment to their profits or ego rather than a rational, strategy-based response. You need to recognize this instinct to regain lost money as the first step to addressing revenge trading. By understanding that revenge trading is driven more by emotion than by reason, you can start building awareness around your trading behavior. 2️⃣ Identifying the Emotional Cycle in Revenge Trading The emotional cycle in revenge trading typically starts with anger, followed by a need to “win back” losses, often resulting in riskier trades. This cycle can repeat and intensify as losses compound, leading to feelings of self-blame and regret. Identifying the triggers that set off this emotional cycle—such as a recent loss or the need to prove something—can help you avoid jumping into impulsive trades. Recognizing these cycles early can allow you to pause, reflect, and make better choices. 3️⃣ Setting Up Predefined Trading Rules One of the most effective strategies to prevent revenge trading is to establish strict trading rules, including stop-loss levels, damage control triggers and daily limits. When you have clear, predefined rules, it becomes easier to stick to a plan rather than trading based on emotions. For instance, having a rule to stop trading for the day after a certain level of loss ensures that you have time to step away and reset mentally. Knowing when to pause prevents the desperation that often triggers revenge trading, reinforcing discipline and giving you time to recover emotionally. 4️⃣ Building Self-Awareness Through Mindfulness Practices Mindfulness is an effective tool for managing the emotional pressures that come with trading. Practices such as deep breathing, meditation, or even journaling after each trading session can help increase self-awareness and emotional regulation. These exercises help you stay present in the moment, allowing for a more objective assessment of a situation without letting anger or frustration cloud your judgment. The more self-aware you become, the better you can avoid the emotional pitfalls that lead to revenge trading. 5️⃣ Creating a Loss Recovery Plan Developing a structured plan for recovering from losses is another way to counteract revenge trading tendencies. This plan may include specific actions, such as re-evaluating the last losing trade, understanding why it failed, and making a list of ways to improve your strategy. A loss recovery plan can provide structure and prevent panic-driven decisions. For example, instead of doubling down on the next trade, you might focus on smaller, more conservative trades to gradually regain what was lost, creating a more balanced and thoughtful approach to rebuilding. 6️⃣ Learning from Historical Instances of Revenge Trading The idea of revenge trading is not new; many traders, including professionals, have been affected by it. One well-known example is the collapse of Barings Bank, which was largely due to rogue trader Nick Leeson’s revenge trading following initial losses. His increasing risk in an attempt to “win back” losses ultimately led to catastrophic results. Studying such cases reminds you of the real consequences of revenge trading and encourages you to approach each trade with caution, even after a loss. 7️⃣ Leveraging Support Networks and Mentorship Having a support system, such as trading peers, a coach, or even online communities, can provide accountability and perspective when dealing with losses. Discussing challenges and trading experiences with others helps you reflect on your decisions and avoid impulsive trading. A mentor, in particular, can be instrumental, as they bring experience, objectivity, and practical advice for managing the emotional hurdles of trading. By fostering these connections, you build resilience and have someone to consult with during tough times, which can help prevent revenge trading behaviors. Shameless plug: join us at The Trading Mentor, you will not regret it ;) Revenge trading can be a powerful and destructive force, driven by deep-rooted emotional responses to loss. But with self-awareness, mindfulness, structured plans, and support, you can gain control over these impulses and foster a healthier, more disciplined trading mindset. The journey to overcoming revenge trading is one of introspection, strategy, and gradual improvement, helping you achieve long-term trading success while minimizing emotionally driven mistakes.
FX:SPX500Education
by AlexSoro
2
Risk-on Risk-off Market Snapshot, 05/11/2024Election Jitters: U.S. Presidential Race Fuels Risk-Off Sentiment Amid Policy Uncertainty and Global Tensions The U.S. presidential election is significantly influencing risk-on and risk-off sentiment as investors brace for potential shifts in policy that could impact economic and market stability. With the election approaching, uncertainty around the potential outcomes and their implications for fiscal, trade, and regulatory policies is driving a more cautious, risk-off sentiment among market participants. In typical election cycles, markets tend to exhibit volatility as investors anticipate changes in the policy environment. For 2024, there is particular focus on key issues such as tax policy, technology regulation, healthcare, and foreign policy—all of which could have far-reaching impacts on sectors like tech, healthcare, energy, and financial services. Market participants are also considering the candidates' approaches to fiscal stimulus, which may affect economic growth projections and thus influence the overall risk environment. Additionally, recent geopolitical tensions in the Middle East and ongoing conflict in Ukraine are intensifying risk-off behavior. Investors are favoring safe-haven assets like the U.S. dollar, gold, and government bonds as they hedge against potential economic disruptions that might follow election results, especially if there are significant shifts in foreign policy. However, specific sectors may also show risk-on tendencies if the anticipated policy shifts favor growth or deregulation in areas like infrastructure, clean energy, or technology. For example, market segments aligned with clean energy could see optimism, while regulatory uncertainties may weigh on tech stocks. Overall, the looming U.S. election is adding a layer of risk-off sentiment as investors weigh the prospects of economic shifts in a complex global landscape. Disclaimer: This is not financial advice. The information provided is for general informational purposes only and should not be interpreted as financial or investment advice. Always consult with a professional financial advisor before making any investment decisions.
OANDA:SPX500USD
by AfreeBit
November Trading Competition Chart Hello, traders. If you "Follow", you can always get new information quickly. Please click "Boost". Have a nice day today. ------------------------------------- (SPX500USD 1D chart) In order to maintain the uptrend, it must rise above 5738.2 and be maintained. Since the StochRSI indicator is currently expected to create a double bottom, if the StochRSI indicator rises in the oversold zone, it is highly likely to create a large uptrend. Accordingly, I think the 5738.2 point is a very important support and resistance point. - (XAUUSD 1D chart) BW(100) indicator is created at 2748.960, and HA-High indicator is created at 2734.472. Accordingly, the point of observation is whether it can receive support and rise around 2734.472-2748.960. - The fact that BW(100), HA-High indicators are created means that a high point section has been formed. Therefore, if it receives resistance from BW(100), HA-High indicators and falls, you should basically think that the decline is likely to continue until it meets BW(0), HA-Low indicators and respond accordingly. Therefore, whether there is support around 2734.472-2748.960 is important. - Since the StochRSI indicator appears to have entered the oversold zone, we need to check where it is located when it rises in the oversold zone and maintains the state of StochRSI > StochRSI EMA. - (XAGUSD 1D chart) The chart can be seen as already in the process of decline. However, since it is maintaining an upward channel, we need to keep in mind the possibility of creating a pull back pattern. Accordingly, the area around 3188144 is expected to be an important support and resistance zone. The HA-High indicator is created at the 32.99790 point, and the BW(100) indicator is created at the 34.86 point. Accordingly, there is a possibility that it will be restricted from breaking through the 3299790-34.86 zone upward. - (EURUSD 1D chart) I think the 1.08821 point is a very important section in the trend. I think it is likely to have difficulty turning into an upward trend until it rises above the M-Signal indicator on the 1W chart. Therefore, I think it would be advantageous to proceed with a trade after confirming support near 1.08821. - (WTICOUSD 1D chart) The oil chart is in a reverse arrangement. Accordingly, I think it would be advantageous to trade with a sell (SHORT) position. It is currently rising above 71.6167 and rising above the M-Signal indicator on the 1D chart. In order to maintain this rise, it needs to be maintained around 71.955. - HA-Low, HA-High indicators are indicators created to trade using the Heikin-Ashi chart. The fact that the HA-Low indicator was created means that a low point range has been formed. Therefore, if it is supported near HA-Low and rises, you should basically think of a response plan by thinking that it will continue to rise until it meets the HA-High indicator. The HA-Low or HA-HIgh indicators are designed to display box ranges differently from other indicators. Therefore, in order to escape the low point range formed by the HA-Low indicator, it must rise above the upper point of the HA-Low indicator box. Therefore, it can be said that it has escaped the low point range if it rises and is maintained above the Fibonacci ratio of 0.618 (72.606). - StochRSI indicator is not a universal indicator, but basically - When the StochRSI indicator is above the 50 point, you should focus on finding a time to sell, - When it is below the 50 point, you should focus on finding a time to buy. From that perspective, I think the current rise is more likely to be a rebound rather than a rise. - (BTCUSD 1D chart) The important support and resistance areas from the current price position are as follows: - 71288.90-72322.91 - 68343.64-69795.79 - 65910.71 The three areas above are important support and resistance areas. - As explained on the oil chart, since the StochRSI indicator is below the 50 point, you should focus on finding a time to buy. Therefore, if you are trading for the first time, you can trade depending on whether there is support near 68343.64. However, since the current trend is an upward trend, if you trade with a sell (SHORT) position, you need to respond quickly and briefly. - (ETHUSD 1D chart) ETH is currently moving sideways in the box section. Therefore, the trend is expected to be determined depending on which direction it deviates from the 2272.88-2707.12 section. Therefore, you should think about trading within the box section and create a response plan. Then, when it deviates from the box section, you should switch to a trading strategy to eat the trend. - Have a good time. Thank you. --------------------------------------------------
OANDA:SPX500USD
by readCrypto
S&P 500: Key Levels to Watch as Election NearsWith the U.S. election right around the corner, the markets are primed for a week of intense action. As traders settle in for what could be a wild ride, we're zeroing in on the S&P 500’s most important support and resistance zones. Anticipated Surge in Volatility and Volume As election day arrives, expect a surge in both volatility and volume, especially in bonds and currency markets. Last Thursday’s market sell-off set the tone, with heightened swings likely to spill over from futures into the open markets by mid-week. Adding fuel to the fire, the Federal Reserve’s decision on Thursday could be another volatility catalyst, particularly if the central bank makes a surprise move on rates. Right now, option data on the S&P 500 suggests that the market is bracing for a potential swing of over 2%, indicating expectations of a lively week. Whilst volatility is the life blood of short-term trading, only the prepared are likely to benefit as wild swings tend to spark panic among those without a plan. With this in mind, let’s take a look at the key levels to watch on the S&P 500… Key Levels to Watch on the S&P 500 On the technical front, the S&P 500’s long-term uptrend has taken a breather, and last Thursday’s drop brought the index back to a critical area: the 50-day moving average (MA). This level, which aligns with the July swing highs, has held up well so far, and it’s a key line of support that many traders are eyeing as we move into the election. If this support gives way, the next stop is the September lows near the 200-day moving average—a level that often serves as a guardrail for the broader trend. For resistance, we’re watching the top of Thursday’s gap as the first challenge for any bounce attempt. Above that, the trend highs present another barrier, where the bulls will need solid momentum to push through. These levels provide a solid framework to navigate the week ahead, where a breakout or breakdown will likely signal a directional shift in the broader market sentiment. S&P 500 Daily Candle Chart Past performance is not a reliable indicator of future results Using Anchored VWAP to Gauge Market Control When it comes to analysing who’s in control of the market—bulls or bears—anchored VWAP (Volume Weighted Average Price) is one of our go-to tools. Here’s how we use it: by anchoring a VWAP to the recent highs, we get a read on where sellers are likely to assert pressure. This essentially serves as a ceiling, marking where bearish momentum could reassert itself. On the flip side, anchoring VWAP to recent lows shows us where the buyers are holding their ground, creating a critical support point. These anchored VWAP levels act as dynamic markers of control, giving us a pulse on the ongoing battle between bulls and bears. In a week like this, with election headlines swirling and technical levels tested, VWAP is an invaluable tool to track whether buyers or sellers have the upper hand at any given moment. S&P 500 Daily Candle Chart Past performance is not a reliable indicator of future results Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. Social media channels are not relevant for UK residents. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.67% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
CAPITALCOM:US500
by Capitalcom
S&P500 / Bearish Pressure Builds: Key Support Levels in FocusTechnical Analysis The price will likely attempt a retest around 5,761 or 5,781, after which a renewed bearish trend could push it toward 5,675 and 5,643. Bearish Scenario: Consistent stability below 5,781 may lead to a downward move targeting 5,732. A 1-hour or 4-hour candle close below 5,732 could activate the next bearish zone. Bullish Scenario: Should the price stabilize above 5,746, some bullish momentum may emerge toward 5,781. However, a reversal with stability above 5,803 would signal potential movement upwards, with targets at 5,824 and 5,850. Further Bearish Continuation: For a deeper decline, the price should establish stability below 5,715, paving the way for a drop toward 5,675. Key Levels: Pivot Point: 5748 Resistance Levels: 5781, 5803, 5824 Support Levels: 5709, 5675, 5643
OANDA:SPX500USDShort
by SroshMayi