S&P500: Future 10 hour chart - June 27.
Updated
S&P500 future – June 27th. Week 26 update!
After previous weekly analysis June 20th. The price zone of 4148 – held and we reached our upside target at 4282 and made a new record high of 4289.
Bear scenario: in case of a set-back it is important for bulls to hold the price zone of 4227/4236. Should this price zone be significant undercut a further correction could push the bulls back into our next support of 4217 - 4214 below that the medium-term bias would turn from bullish to neutral. Further supports are 4203/4200 – 4189/4186 then 4164/4139 and (4124/4116 GAP Fill (Cash Market) and only below this zone we see 4060/4035. Downside targets see chart posted April 12th.
Bull scenario: Above 4289 next goals are at 4290/93 – (4300/07 (dotted upper line) broadening Bottom resistance. Only above last mentioned next possible expansion targets at 4350/4380/4394 and 4419/4430.
This week’s key reversal days is Monday – Thursday – Friday non-farm payrolls release.
After previous weekly analysis June 20th. The price zone of 4148 – held and we reached our upside target at 4282 and made a new record high of 4289.
Bear scenario: in case of a set-back it is important for bulls to hold the price zone of 4227/4236. Should this price zone be significant undercut a further correction could push the bulls back into our next support of 4217 - 4214 below that the medium-term bias would turn from bullish to neutral. Further supports are 4203/4200 – 4189/4186 then 4164/4139 and (4124/4116 GAP Fill (Cash Market) and only below this zone we see 4060/4035. Downside targets see chart posted April 12th.
Bull scenario: Above 4289 next goals are at 4290/93 – (4300/07 (dotted upper line) broadening Bottom resistance. Only above last mentioned next possible expansion targets at 4350/4380/4394 and 4419/4430.
This week’s key reversal days is Monday – Thursday – Friday non-farm payrolls release.
Note
S&P500 future – July 4th. Week 27 update – after previous weekly analysis June 27th. The price zone of 4227/36 – held and we reached our upside target at 4352 and made a new record high of 4358.Bear scenario: in case of a set-back it is important for bulls to hold the price zone of 4350/4300/4305. Should 4287/80 be significant undercut on a weekly basis a further correction could push the bulls back into our next support of 4275 - 4267 below that the medium-term bias would turn from bullish to neutral. Further supports are 4203/4200 – 4189/4186 then 4164/4139 and (4124/4116 GAP Fill (Cash Market) and only below this zone we see 4060/4035. Downside targets see chart posted April 12th.
Bull scenario: Above 4350 - 4380 – 4394/92 very important zone for bulls on a weekly and monthly basis - above would boost the upward trend. 4400 - 4405 - 4419 – 4430 – 4460 - 4595. The RSI is overbought so the risk of a pullback is increased - same time a various sentiment indicators also signal a high degree of euphoria. The stops of existing longs should therefore be followed closely to secure profits.
This week’s key reversal days is Monday – Wednesday – Thursday.
Note
S&P500 future – July 11th. Week 28 update – after previous weekly analysis July 4th. There are some few changes - the price zone of 4287/80 – held and we made a new record high of 4374. Bear scenario: in case of a set-back it is important for bulls to hold the price zone of 4350/4300/4305. Should 4287/80 be significant undercut on a weekly basis a further correction could push the bulls back into our next support of 4275 - 4267 below that the medium-term bias would turn from bullish to neutral. Further supports are 4203/4200 – 4189/4186 then 4164/4139 and (4124/4116 GAP Fill (Cash Market) and only below this zone we see 4060/4035. Downside targets see chart posted April 12th.
Bull scenario: Above 4350 next target 4380 – 4392/94 - 4400 – (4405 very important zone) for bulls on a weekly and monthly basis - above would boost the upward trend to 4419 – 4430 – 4460 - 4595. The RSI is overbought so the risk of a pullback is increased - same time a various sentiment indicators also signal a high degree of euphoria. The stops of existing longs should therefore be followed closely to secure profits.
Check daily/Intraday support and resistance level´s.
This week’s key reversal days is Monday – Tuesday and Thursday.
Note
S&P500 future – August 22nd. Week 34 update – after previous weekly analysis August 15th. The price zone of 4437/48 held, and we reached our upside target August 16th at 4480. The S&P500 went into correction mode and hit a 2-week low at 4352.Bear scenario: in case of a set-back it is important for bulls to hold the price zone of 4370/4367 and 4352 range/ white lines. Should this zone be significant undercut (daily) a further correction could push the bulls back into our next important support (May 2021 line) 4300/4305 a weekly close below this, and 4234 would result in seasonally consolidation/correction towards 4203/4200 – 4189/4186 then 4164/4139 and (4124/4116 GAP Fill (Cash Market) and only below this zone we see 4060/4035.
Bull scenario: Above 4370 - 4455/65 next target 4475/82 then 4493/95 – 4500/08 – 4535 resistances. Above this, 4595.
Notice: If the price falls below a support level, that level will become resistance. If the price rises above a resistance level, it will often become support.
White/pink channel bullish. If we break below and recapture those lines, bulls are in play.
Check daily analysis (5 min chart) Intraday price levels. Important “key reversal levels” will be highlighted with parenthesis (4437) as you will notice when you check GERMANY30 and S&P500 Monday, 23rd Intraday analysis.
Key reversal days explanation check Telegram: t.me/tradingindicestips
Week 34 key reversal days is Sunday 22nd 5:35 pm. Monday 23rd 8:50 am. Tuesday 24th 2:55 pm and 9:15 pm. Thursday 26th 10:20 am. Friday (00:25 am and 11:05 am) New York time.
Germany30 and S&P500 Intraday analysis August 23rd. and weekly update 34. Posted at twitter: twitter.com/SP500_Dow
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