SPX is heading to new all time high by May 21. Invalidated if breaks below Apr 19 low.
SP500 is on track and is following the idea i shared some days ago. I expect a continuation of the drop till the 4800-4900 area, and probably the target will be hit in May/June. Here i will look for longs to hold till Q4 2024. Updates will follow
We have the initial Resistance zone which is the intraday Bias changing zone. Where the market is going to move if ES/ SP500 holding below initial resistance following the FC announcement then the reason to weakness then could still remain in play for move down to initial support. ///////////////// Short-term Neutral-Bearish Intermediate Neutral-Bearish /////////////////
I think we will go back down and test the 4960 area. We have broken the short term Up angle today in one swoop. RED UMVD has appeared after divergence as well. FED Day today - get ready for some serious moves.
Esteemed analysts and traders, I hope this correspondence finds you in good health and high spirits, prepared to tackle the upcoming week with renewed energy. I extend my best wishes for your continued success in all your business endeavors. It is worth noting that success in trading is largely dependent on the consistent definition and adherence to one's own...
Listen to the Market opinions are typically wrong but the market is never wrong Intermediate: Neutral-Bearish
SP500 is looking bearish, and i think we will see a major correction in the next weeks. I have my main target at $4.750, were the price could bounce back up. I will enter short with small size and i will add shorts if the price will go up, invalidation above actual highs at $5.300
We are in the middle of a bulls rally. But still in bearish territory. The 510 level is going to be very intense to watch. If the bulls manage to break up and consolidates above 510 bears are dead. I'm not shorting anything yet. I'm just sitting and looking at my long positions.
Keep an eye on $NQ_F it's leading the reversal and is at better Resistance. Intermediate Neutral-Bearish
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Esteemed analysts and traders, I hope this correspondence finds you in good health and high spirits, prepared to tackle the upcoming week with renewed energy. I extend my best wishes for your continued success in all your business endeavors. It is worth noting that success in trading is largely dependent on the consistent definition and adherence to one's own...
from the sp500/vix ratio it emerges that there is an increase in the relative strength of the stock market compared to the fear index. We could witness a bull market reabsorbing the bearish excess of the month of April
SP 500 SP 500 Trade setup on broad market weakness. Stay hold below pre-market resistant. So ideally wait to see break down pre-market support. retrace and continue downside.
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Summary #SPX is approaching a key level where it may make a decision to bounce or break lower. A zone ranging between 4800 : 4920 "highlighted" will determine the upcoming short term trend.
$5000 level is the target of this uptrend. Weekly chart shows that recession It is too early! EMA-150 and EMA-200 is used on this chart to determine the trend... Also we have bullish MACD divergence !
If you haven't already purchased SPY after the 2023 forecast: forecast:https://www.tradingview.com/chart/idea/l6U1M9dJ/ then it's important to be aware that there's a significant bearish divergence in the RSI of SPY, the S&P 500 ETF, which initiated at $469. Anticipating a technical retracement to $495, given its prolonged period of being overbought!