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USA500 trade ideas

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
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
SPX500Forex trading involves higher leverage (up to 50:1) and 24/5 market access, focusing on currency pair movements affected by economic data, interest rates, and geopolitical events - the key risk is that high leverage can quickly amplify losses, plus overnight positions face swap fees and gap risks during major news. Stock trading typically offers lower leverage (2:1 to 4:1), operates during exchange hours, and focuses on company fundamentals, earnings, and broader market sentiment - main risks include earnings surprises, market volatility, and lower liquidity in individual stocks compared to major forex pairs, while key advantages include better transparency through public financial reports and generally lower spreads than exotic forex pairs.
SKILLING:SPX500Long
by HavalMamar
MY SPX500USD LONG IDEA 04/11/2024Direction: Long SL: 5,619.1 Checklist: - MA 20 going Upward - Break of Trendline - Fib level - Bounce from a Support/Resistance - Penetrate a Support/Resistance - Edgefinder Score - Correlation Confluence - Trading Central Preference Technical: 1. MA 20 Yellow is above MA 100 and 200 (Purple and Red). 2. No strong trendline reading but if it breaks my bullish purple line then price will go up. 3. Price bounced off from a Resistance zone. 4. FIB level 0.38 @ 5701.3 . 5. Tradingcentral tool signaling Rise on Time frames 15m,1h,4h and daily at the moment. 6. Q4 seasonality is bullish. Fundamental and economic: 1. I use Edgefinder tool which shows me a score of 2 "Neutral Bullish". 2. We have US elections coming up and regardless of which president wins it’s going to be bullish for USD and stocks. 3. US NFP came out horrible 12k but market wants a revision and is in a speculative state. 5. USD is on the rise after a recovery. 6. VIX spiked a little and is calming down.
OANDA:SPX500USDLong
by stingotho