*** Comments prior to evaluation summary ***
Week ending May 1 had SPX breaking the SAR and displaying a target price of 2971.48. The high this week was 2932.16, ending the week in the top 30% of the bar, it still is demonstrating upward movement.
However, it keeps expanding the consolidation to the upside and returning to range boundaries. Typical bear flag patterning happening. Be cautious of the optimistic euphoria leaving to market.
Trend Analysis:
The current trend is defined by the last price and it's relationship to specific moving averages.
Check the MA strategy for more specific suggestions.
Weekly: The relationship to the primary trend MA is bullish . The price in relationship to the other averages suggest long positions
Price Action:
Weekly: The average price range currently is 161.95 points/ticks/pips. Prices are currently .17x the normal trading range. Prices are trading within the mean range for activity. This generally indicates a consolidation of strength/indecision in the market regarding direction.
Prices are currently caught in consolidation between 2191.86 and 2954.86.
While in consolidation the trade range may decrease to 99.498 points/ticks/pips.
Standard Deviation
Weekly: Standard deviation suggests a range from 2522.19 to 3139.25 for the following week.
Calculated Price Strength:
The strength of the trend in conjunction with specific averages
Weekly: Trend strength suggests a trade range of 2829.72 to 3029.90 for the following week.
Price Projection:
The price action has generated a projection signal for the underlying.
Weekly: Price currently displays (if strength and attitude continue) a desire to move toward 2781.35
If strength and attitude continue, it could take between 1 to 2 trade periods (weeks) to reach the projection.
Indicators Summary.
A collection of technical indicators whose directional attitude has been summarized.
Weekly: Out of the cumulative indicators monitored, 54.55% are bullish , 9.09% are bearish , 36.36% are neutral
The CCI indicator trading strategy suggest the following:
Weekly: Neutral price action - shorts closed.
Confirmation Signal
6 indicators combined to confirm entry/exit.
Weekly Bullish - Open directional trades
Suggested stops based on long positions on weekly chart:
In consolidation and bullish (Consolidation Low - (ATR * .5)): 2110.89
Close - (ATR * 1.5) at: 2686.89
SMA 13 at: 2838.37
Week ending May 1 had SPX breaking the SAR and displaying a target price of 2971.48. The high this week was 2932.16, ending the week in the top 30% of the bar, it still is demonstrating upward movement.
However, it keeps expanding the consolidation to the upside and returning to range boundaries. Typical bear flag patterning happening. Be cautious of the optimistic euphoria leaving to market.
Trend Analysis:
The current trend is defined by the last price and it's relationship to specific moving averages.
Check the MA strategy for more specific suggestions.
Weekly: The relationship to the primary trend MA is bullish . The price in relationship to the other averages suggest long positions
Price Action:
Weekly: The average price range currently is 161.95 points/ticks/pips. Prices are currently .17x the normal trading range. Prices are trading within the mean range for activity. This generally indicates a consolidation of strength/indecision in the market regarding direction.
Prices are currently caught in consolidation between 2191.86 and 2954.86.
While in consolidation the trade range may decrease to 99.498 points/ticks/pips.
Standard Deviation
Weekly: Standard deviation suggests a range from 2522.19 to 3139.25 for the following week.
Calculated Price Strength:
The strength of the trend in conjunction with specific averages
Weekly: Trend strength suggests a trade range of 2829.72 to 3029.90 for the following week.
Price Projection:
The price action has generated a projection signal for the underlying.
Weekly: Price currently displays (if strength and attitude continue) a desire to move toward 2781.35
If strength and attitude continue, it could take between 1 to 2 trade periods (weeks) to reach the projection.
Indicators Summary.
A collection of technical indicators whose directional attitude has been summarized.
Weekly: Out of the cumulative indicators monitored, 54.55% are bullish , 9.09% are bearish , 36.36% are neutral
The CCI indicator trading strategy suggest the following:
Weekly: Neutral price action - shorts closed.
Confirmation Signal
6 indicators combined to confirm entry/exit.
Weekly Bullish - Open directional trades
Suggested stops based on long positions on weekly chart:
In consolidation and bullish (Consolidation Low - (ATR * .5)): 2110.89
Close - (ATR * 1.5) at: 2686.89
SMA 13 at: 2838.37
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.