The market might probably in a new bull and the price was 3% above 200 MA indicating a new uptrend.
However, this bull may distract by the Federal Reserve since the inflation problem still causing trouble in the USA.
S+P 500 has
"continued "
it's "rising trend triangle breakout this morning, although the rally is now being met with sellers.
The upside move ,confirmed by the KST Indicator, (Shown) is sparked by the rise in crude oil US futures above $80
with money moving into the energy stocks today, after OPEC agreed to surprising production cuts their meeting this...
As the famous billionaire said in December 2021 (elon), the "prophet" who is apparently loved and trusted by everyone. I don't know why...
Disclaimer, SPX by itself will probably not follow this path, things are quite complex as you will soon find out.
First of all, Recession is not something simple. Everyone talks about it, but it is not always meaningful.
This...
Please, check our technical outlook for SPX.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 4117.17.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 3984.17 level.
P.S
We...
Not all is black and white.
Innumerable financial fundamentals point towards economic weakness.
The thing is, nobody has managed to pinpoint when this will happen.
The only thing I can do today is get some perspective on the cycles of SPX, and perhaps pinpoint the beginning/end of some of them. Maybe we are in the beginning of a new super-cycle!
First things...
SPx
stabilizing above 4100 will be bullish to get 4125 and above it 4142
but stabilizing under 4100 will be bearish to get 4086 and 4073
Pivot Price: 4100
Support prices: 4086 & 4073 & 4060
Resistance prices: 4122 & 4142 & 4150
S&P500 Index is trading in a rising channel on a daily.
The price was approaching a solid resistance cluster on Thursday and Friday.
The market managed to break that and successfully closed above.
I believe that the Index may go higher this week.
Next goal for buyers will be 4155
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$SPX currently trending at consolidation paste. No strong catalyst for monday for market to pump
but the momentum looks strong for bullish continuation.
1 hour & 4 hour chart the RSI at the overbought level.
expect a pull back soon. for now just ride the trend.
below is my price level for SPX calls and puts.
Calls: buy above 4143.30 sell at 4180.26+
Puts: buy...
Since the Great Depression the S&P 500 tracks U.S. GDP, both log graphed here such that the slope of the channel is the log slope of U.S. GDP.
Looking for some kind of pattern, there might be a ~33 year wave-like pattern repeating twice since 1929 and hypothetically a third time, as depicted.
The likelihood of the third repetition happing I have no confidence...
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Here is a look at the harmonic I was watching on the S&P before I left for vacation. Hit all three targets on the strong bullish reversal the past 2 weeks. This is why I add the harmonic setups to my weekly levels posts. They must be respected. A link to the original Mar 13-17 post is below.
Good day everyone.
well as you see in charts if USA and other big players haven't found any way out for current political and financial issue, we will see a capitulation on Stock Markets
specially in USA .. so be careful.
so next target will be at 2000 pts area which will be marked technically in Elliot Wave Structure WAVE C !!!
More Geopolitical and...
