S&P has been down four straight days. Also, yesterday S&P closed a gap from February which coincides with a support level.
Level to watch: 5074 ---5072
Reports to watch:
Existing Home Sales
10:00 am EST
EIA Natural Gas Report
10:30 am EST
S&P has been trading in a range since April 4th sell off.
Neither buyers or sellers have any conviction in trading.
Level to watch: 5217.00 ----5215.00
Report to watch:
EIA Natural Gas Report
10:30 am EST
After yesterday's sell off market is trying to rally during ETH session.
If traders can stay above yesterday's Close, we might get a bounce today.
Level to watch: 5252.00 --- 5250.00
Reports to watch:
US: EIA Petroleum Status Report
10:30 AM ET
US: Jerome Powell Speaks
12:10 PM ET
Four straight down days and S&P 500 closing at its Low yesterday does not bode well for the Bulls. If today closes at its Low again then we could get a pullback.
Level to watch: 5290 --- 5292
This month market has been trading in a range.
Any test of yesterday's High could provide direction for the day.
Level to watch: 5245 --- 5243
Report to watch:
EIA Petroleum Status Report
10:30 AM EST
FOMC Announcement
2:00 PM EST
Fed Chair Press Conference
2:30 PM EST
Market has been trading in a range for last several days with increased volatility. Could today be any different, probably not.
Any test of yesterday's High could provide direction for the day.
Level to watch: 5132 --- 5134
Reports to watch:
US: Jerome Powell Speaks
10:00 AM ET
US:EIA Natural Gas Report
10:30 AM ET
This is a completely full and completed schematic of CME's E-mini S&P 500 Contract. This contract started in 1997 so there are decades of data not accounted for on the real chart. However, these are just as viable and important as the Standard & Poors 500 Indice. Let us take a look at the separate (chronological) boxes and understand what they are...
#1 is...
Volatility has increased recently and could continue for a while.
Any test of yesterday's Low could provide direction for the day.
Level to watch: 5073 ----5071
Report to watch:
10:30 EIA Petroleum Inventories
Good evening and i hope you are well.
This week was another very strong one for the bulls. Having these kind of climaxes at the top after such a long ongoing trend is often the exhaustive end of it. But all that is just mumbling until bears show up. Bulls continue to pump this higher and that’s just what’s happening right now. All targets have been met and market...
ES/SP500/US100
Hello Traders, Welcome back to another market breakdown.
Today, I've got an exciting video for you as I dive into the current state of the S&P 500 and explore various strategies based on different market scenarios. Whether you're an experienced investor or just getting started, this video will help you better understand how to navigate the dynamic...
Good evening and i hope you are well.
Bears making lower lows but bulls buy them. That means prominent tails above and below bars and you have to be humble about your scalps. Markets don’t go from big bull to big bear trend and betting on breakouts after mind boggling rallies is low probability and a losing strategy.
nasdaq
Bears tried all day to get the...
Good evening and i hope you are well.
In my weekly outlook i talked about the major trend reversal for most indexes since the bull trend is coming to an end and we are in a trading range at the highs imo. Markets are in the process of forming a top and confirmation would be lower lows by the bears now. Today was a good start.
sp500
In my weekly outlook i said...
This morning markets are rising after a sharp decline yesterday.
Any test of yesterday's Close could provide direction for the day.
Level to watch : 4992 ---4994
Report to watch:
10:30AM ET: Petroleum Status report
Good evening and i hope you are well.
Today we witnessed a perfect bull trap above the recent new all time highs for US markets. Here is the most important quote from my weekly outlook i posted yesterday:
We already ranged at the highs for some time now and for most indexes it’s just a higher high and now i expect a major trend reversal. Hence the title, the...
Good evening and i hope you are well.
Today was the day i started talking about around 2 weeks ago. The price action of the last 6 days was conclusive and i had no doubt market will reach the given bullish targets for more bear pain. SP500 e-mini futures printed 5020 and printing a new ath tomorrow is highly probable. I hope you played it and made some.
Quote...
Good evening and i hope you are well.
Markets went sideways today, as was expected and laid out yesterday. We are forming many triangles, which means that prices are converging and we get a break out soon. Bears tried a bit but bulls bought it, which confirms my thesis of higher prices. I still expect a bit more sideways movement. If i had to guess, i’d say we...
This market just keeps making new ATH almost every day for last couple of weeks.
Also Russell 3000 finally made ATH earlier this week.
Level to watch: 4922 - 4924
Report to watch:
9:45AM: Chicago PMI
2:00PM: FOMC Announcement
