Hello, Welcome to this update-analysis about the S&P 500 Index. Now we are looking at the more global 2-day timeframe perspectives since the main head-shoulder-formation that I mentioned in my previous analysis before already completed and reached out to the lower targets in the structure already the more global perspective also got affected by this dynamic....
Apart from the long term Channel Up since March, S&P500 is trading inside a short term one in the last 10 days. This is much alike the one in April. Both started after a +4.70% rise. Eventually the April fractal pulled back to the 0.5 Fibonacci level and the MA200 (4h). Trading Plan: 1. Sell on the current market price or as close to the Channel as...
S&P500 is trading inside a narrow Channel Up, loosely supported by the 4H MA50 (RSI = 58.828, MACD = 5.720, ADX = 49.301). This pattern implies a rejection within the 4,605 - 4,620 Zone targeting 4,550. We are looking for a buy there or if S1 (4,527.50) breaks then near the 4H MA200 at 4,485 (also a HL trendline). In both instances our target is the R1 (TP =...
The S&P500 / US500 touched the 4hour MA50 after the Fed Rate Decision for the first time since July 11th. This isn't a medium term buy signal as the current 2 month Channel Up, has given two strong buy entries lower, on the 4hour MA100. We expect the price to hit it at 4510. Buy there and target the Channel Up Top at 4630 (under Resistance A). The 4hour MACD...
S&P500 is having a short pull back today after crossing over Resistance 1 (4515). Despite the constant rise, it remains inside both the yellow 4 month Channel Up as well as the wider one from late last year. This bullish wave draws similarities with May-June. Trading Plan: 1. Buy on the current market price. 2. Sell if it crosses under the MA50 (1d). Targets: 1....
S&P500 has a 3 day bearish streak. Both medium and long term patterns are Channel Ups. The medium term has the MA50 (1d) as the Rising Support and the long term the MA200 (1d). At the moment, it seems that a Megaphone consolidation such as April-May is in order. Trading Plan: 1. Sell on the current market price. 2. Buy at 4310 (bottom of the medium term Channel...
S&P500 is pulling back after the March Channel Up topped on an overbought RSI (1d). The MA50 (1d) has been intact since March 29th and is the support of this strong uptrend. Trading Plan: 1. Sell on the current market price and/ or the June 16th High. 2. Buy on the bottom of the Channel Up at 4310. 3. Sell if the price closes a (1d) candle under the MA50...
The S&P500 is trading inside a Channel Up since the March 13th low with 1D technicals heavily overbought (RSI = 72.465, MACD = 71.880, ADX = 42.303). That is a first bearish flag, with the second alert coming from the 1D RSI which hit on Thursday the HH trendline that started back in November. That is a major sell signal, calling for a pull back near the 1D MA50...
The S&P500 index broke over Channel Up 1, which was the primary pattern since November 3rd 2022, and is only a few point away before testing R1 (4,330) for the first time since August 16th. The 1D technicals are on excellent bullish levels (RSI = 66.947, MACD = 39.580, ADX = 22.834) and a candle close over R1, can be enough to extend this relentless rally of the...
The S&P500 reached our first TP1 = 4,295 (see previous idea at the bottom) and touched the top of the Channel Up pattern that guided the index out of its November market bottom. Technically this calls for caution as the probabilities of a HH rejection at the top are high, despite the 1D time frame staying on harmonized green technicals (RSI = 62.614, MACD =...
note: the CBOE:SPX avwap from the previous financial crash in 2008 has been a buy whenever the retrace has aligned with the golden pocket. Could be a nice HKEX:1000 move coming if the short setup comes into play
The S&P500 index is approaching the top of the Megaphone pattern inside the wider Channel Up. The 1D time frame is bullish technically (RSI = 59.471, MACD = 22.900, ADX = 16.182) but only moderately. If the price crosses over the Megaphone, we will buy the breakout and target the top of the Channel Up (TP = 4,295). If not, we will buy the pull back near the 1D...
The S&P500 index is on the first green (1d) candle after an almost test of the MA50 (1d). This level has been holding since March 30th, so consider it a short term buy entry. The short term pattern is a Megaphone inside a long term Channel Up. Trading Plan: 1. Buy on the market price. 2. Sell upon a candle closing under the MA50 (1d). 3. Buy at 3980 (the MA200...
S&P500 / US500 approached the 1day MA50 again. This level has been supporting since the March 29th break out (almost 1 month). Buy as long as it holds and target the dashed Rising Resistance at 4230. Sell if the price closes under the 1day MA50 and target the Megaphone's bottom at 4030. The 1day RSI is consolidating inside a Rectangle whose highs and lows give...
The S&P500 is trading inside a Megaphone pattern, which in December 2022 broke to the downside and hit Fibonacci 0.236 of the Channel Up. With the 1day MA50 supporting however for 40 straight days, it is equally probable to see an upward breakout. If the price crosses over the Megaphone, buy and target the top of the long term Channel Up at 4350. If it crosses...
The S&P500 gave us the buy entry we were seeking at the bottom of the Megaphone, which happened to be on the 1D MA50 as well, a standard support level on uptrends. The 1D technicals are neutral (RSI = 52.091, MACD = 17.390, ADX = 22.702) which indicates that there is upside potential to this move. On our latest trading plan we set a TP = 4,200 and this is intact....
The S&P500 is trading inside a Channel Up for more than 6 months. The price is now between the 0.5 - 0.618 Fibonacci levels, a zone that was the last consolidation during the previous two rallies to the top of the Channel Up. The Target Zone is between 4280 - 4350, with 4280 being the 1.236 Fibonacci level where the previous Higher High was formed. The RSI is...
The S&P500 index is approaching the 4H MA200 inside a month long Megaphone pattern. The 4H technicals are deep in red (RSi = 38.959, MACD = 4.530, ADX = 22.263) and inside this pattern when that took place, buy signals have started to emerge. We are buyers and target the pattern's top (TP = 4,200) as long as the price doesn't break under the Megaphone or closes...