The S&P500 (SPX) broke on Friday below the 4H MA50 (blue trend-line), which isn't yet a bearish confirmation as it has done so numerous time within December's Channel Up pattern. What would be a sell signal though, is getting rejected and fail to close a 4H candle above the 4H MA50 again. We will then look for the 4H MA200 (orange trend-line) and target Support 1...
The markets will come alive this week reacting to the outcomes of an incredible array of tier 1 event risk, with some 14 central bank meetings, including six G10 central bank meetings, as well as numerous emerging market central banks too. At a more micro level, Nvidia takes centre stage with the highly anticipated GPT conference a potential volatility driver...
Hey Traders, in today's trading session we are monitoring US500 for a selling opportunity around 5130 zone, US500 was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 5130 support and resistance area. Trade safe, Joe.
The last week kicked off with bears challenging the previous week's low (505), coming close to success. Bulls stepped in, mounting a strong defense and steering prices back to a historical high. It might have been a convincing victory if only they could have sustained it until Friday's closure, but that didn't materialize. Friday concluded on a bearish note,...
Here is our detailed technical review for US500. Time Frame: 1h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 5154.2. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 5171.8 level. P.S Please, note that...
Concerning the earlier shared trade idea on the US500 (S&P 500 index), this video expounds on the rationale underpinning the consideration of this potential trade setup. Analyzing the 1-hour chart for the S&P 500, the price has been exhibiting an upward trajectory. We can discern the formation of higher highs and higher lows, suggesting a prospective US500...
Analyzing the 1-hour chart for the S&P 500, the price has been exhibiting an upward trajectory. We can discern the formation of higher highs and higher lows, suggesting a prospective US500 bullish trend, however beware the double top and strong sell off. Im anticipating a move back up to rebalance and we could see further downside so approach this with caution and...
Put together information on what is happening in major S&P sectors Majority of sectors are strong on the daily chart. There are some short-term problems on lower timeframe but they can be overcome. This is good for buyers as it shows that money is not leaving the market but moving from one sector to another. A lot will depend on tech bulls. XLK must clear 212...
The S&P500 index (SPX) is trading at the top of the 17-month Channel Up with the 1W RSI overbought and at its highest (78.00) in more than 4 years (since January 2020). Once it breaks below its MA level (yellow trend-line), it will be a sell confirmation, which is the signal that flashed on February 20 2023 and July 31 2023. The minimum decline within this...
S&P500 / US500 is approaching the top of a Fibonacci Channel Up that goes back all the way to August 2022. The 1day MA50 has been in firm support since November 3rd 2023 but as the 1day RSI is squeezed inside a Triangle pattern, a break out is inevitable. This is technically more likely to be to the downside due to this overbought multi month momentum near the...
S&P500 is trading inside a narrow Channel Up pattern. As long as the price stays inside, we remain bullish on the index. The ralies inside it have been quite symmetric as well. The MA50 (1d) has been supporting this strong bullish trend since November 03 2023. Trading Plan: 1. Buy as long as the price remains inside the Channel Up. 2. Sell if it breaks below it...
Well As you can see, we can see the SMT here so we can expect a downtrend. The first condition is, that we see the price close the candle body below the bullish FVG, only then can we expect the price to go lower to collect the sell-side liquidity. After that, If the first condition occurs, we need the candle closure below the sell side liquidity, then the...
Month after month, the United States has been reporting strong labor market conditions and lots of new jobs being created. However, revisions to past data are often less talked about in the media, which might tell a somewhat different story than headline numbers at the time of their announcement. Friday’s report shows that nonfarm payrolls rose by 275,000 in...
Rising Wedge Created On 4HR Chart Bearish Reversal on the Horizon? The US500 has formed a rising wedge pattern on the 4-hour chart, signaling a potential bearish reversal. This pattern, characterized by converging trendlines with a steeper support line, suggests that upward momentum is waning. Key Observations: Upward Trend : The pattern has developed...
Yesterday, the SPX formed an opening gap and erased some of its recent gains, which was accompanied by nearly a 10% jump in the VIX. What is particularly interesting about this is the formation of the island reversal pattern on the daily chart. The formation of this topping pattern and simultaneous rise in the VIX after a period of strong gains in the U.S. equity...
Please, check our technical outlook for US500. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 5122.0. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 4997.2 level. P.S The...
Hello Birdies, Here is the market overview for today what we are seeing on BTC, DXY and SPX. Trade well and stay safe.
S&P500 is bullish on the 1D timeframe (RSI = 61.459, MACD = 50.390, ADX = 31.702) but the RSI has turned sideways for a long time which is the same pattern that led to the July 27th 2023 High. The index has had three major corrections inside the long term Channel Up, ranging from -8.16% to -10.64%. We expect the index to decline by at least -8.00% in the next 1...