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S&P500 targeting 5800 if this level breaks.The S&P500 index (SPX) recovered from April's correction and rebounded on the 1D MA50 (blue trend-line) during late May's consolidation, much faster than all previous corrective phases within the 1.5 year Channel Up pattern. This has resulted in the price testing again the top of that pattern, first time since April 01. So far it has been there but failed to break it 3 days in a row, which is an accelerating bearish signal and as long as it fails to break upwards, we expect another test (at least) of the 1D MA50. If it does break though, and since as mentioned this corrective phase has been faster and weaker than the previous, there are higher probabilities to do so, we expect a new (blue) short-term Channel Up to emerge. That would be similar to the previous 2 Bullish Legs of the long-term Channel Up, only this time it will break above it and take the index to a new dominant pattern. In any case, our medium-term Target on that occasion wil be 5800, even though on the long-term, we can see at least a +25% rise from the April 19 bottom. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500Long
by TradingShot
2
ES1! - TIME TO LOOK FOR SHORT ENTRIES OPPORTUNITIES - WEEKLYThank you for the likes, shares and follows. Really appreciate! _________________________________________________________ This is a zoome out from the latest analysis of the ES1! Mini S&P500 Market. A little bit adjusted with some interesting points to consider. in the upper side we potentially won't be surprised in proach futrue see the price rising to $5637.5. It is time probably to think at holding long short positions as there are some potential lower price point interesting to consider: - The red horizontal line range area - And lower there the blue dashed horizontal line next week candle could probably do the same as this week but in the short side. Where is the price going and what is the upper side limit? We don't know, we can only make some assumptions based on the technical analysis of the chart. The issue is that we see that some historicl correlations are not being respected anymore.
CME_MINI:ES1!Short
by Diallo_Charts_Ideas
SPY still bullish, holding both the 1D MA50 and MA100.Last time we looked at SPY (May 01, see chart below) we gave a strong buy signal following the 1D MA100 (green trend-line) bottom and we are already well into new All Time High territory: As you can see, the price hit the top of the short-term (dotted) Channel Up and pulled back to the 1D MA50 (blue trend-line) again. This inability to break above the Channel Up, leads us to believe that it will continue to be the dominant pattern, instead of the long-term (blue) Channel Up, and will dictate the price action higher but only gradually. Another test of the 1D MA100 is possible under those conditions that will allow for a smooth hit on our 555.00 long-term Target. If however the dashed line holds, it is possible to see an even more aggressive Channel Up materializing, in which case we will move our Target even higher at 580.00, in order to represent a Bullish Leg similar to January - February 2024. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
AMEX:SPYLong
by TradingShot
1
ES New All Time High Targets & General OutlookAfter buyers broke us out yesterday, ES is now basing right off the uptrend channel sellers tried to leak us from June 3rd (5370). This is very typically after a trend leg/breakout, as after these play out, longs are risky (due to chasing), shorts are risky (against the trend), so this causes a very high chance of chop the day after. And that's exactly how today is playing out. This is very vital to understand, as MANY traders lose lots of money overtrading after the trend move happens, all because we naturally try to recreate missed opportunity. Don't. We are building a small flag now above 5363. 5375, 5390, 5403 are the next ATH targets whenever buyers are ready. If sellers want to backtest some supports, 5348 is 1st down, then 5342 CME_MINI:ES1! CME_MINI:MES1!
CME_MINI:ES1!
by ESMorg
ES1! PM long opportunity using algorithmic levelsToday we'd seen beautiful reaction to algorithmic levels! +1/3 AWR acted as support after yesterday push above it and -1/3 ADR likewise! another confluence was D -M OHLC statistical mapping (tool) and H4 IFVG! ADR is usually TRUE Support & Resistance! and most of the time we can use it within Higher Time Frame context. same goes with OHLC statistical mapping when we are bullish we use -manipulation! combining this with ADR/&AWR can be really helpfull!
CME_MINI:ES1!
by Keclikk
S&P500 Short-term accumulation before strong rise.The S&P500 index (SPX) has turned sideways since practically May 16 and, supported by the 1D MA50 (blue trend-line), is consolidating. Even though this consolidation is taking place at the top of the 1.5 year Channel Up (Fibonacci 0.0 - 0.236 range), it is similar in some way to the accumulation of April - May 2023 (also a little like November - December 2023), which was again supported by the 1D MA50. As a result, as long as the price remains above the 1D MA100 (green trend-line), which provided the crucial Support on April 19 and started the recovery from the -6.65% decline, we expect a similar Channel Up to start when the accumulation ends. Our short-term Target is 5500 (top of 1.5 year Channel Up). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500Long
by TradingShot
Where is the SPX most likely headed in the coming yearsAlthough it's hard to predict what the stock market will do in the future, there is already a clear consensus on what is likely to happen. In this chart, I have plotted most predictions from big investment banks like Goldman Sachs and Morgan Stanley to other investors like Michael Burry. I have also calculated the average of all the predictions and plotted it on the chart. I think the most likely scenario is that we retest the lows of the Corona Virus Crisis, and then we trade sideways from there (illustrated with the red arrows). There is also the probability that we bounce off the 3000 SPX as the consensus estimates and then trade sideways from there (illustrated with blue arrows). The main reason we might trade sideways for the coming years is because of a dilemma the Federal Reserve is currently facing. Having to fight a battle between high inflation caused by quantitative easing done during the Coronavirus Crisis, and fighting said inflation by raising interest rates which will make it harder to maintain its 30 Trillion dollars of debt obligations. Likely changing back and forth till there is a deleveraging of the whole system that will last at least 3 years. And since the markets are strongly correlated to what the fed does, this will be the most likely outcome. Let me know your predictions and see if you agree more with the blue arrows or red arrows.
SP:SPXShort
by Blasik
7
Trends Mixed; Overall Neutral Short Term on MarketsSo, as stated in the video, the shorter term timeframes of 30m/1hr/2hr have opened up to lower movements, while the 3hr/4hr/6hr have been violated and would call for a movement back up, but haven't shown that potential movement yet. We are still in a short term Bullish Zone in accordance with my moving momentum algorithm, but we are very close to hitting below that Zero Line into Bearish territory, especially if we continue to stay low like this. What I may look for is a movement into the Bearish zone, a move upward, and if that movement upward doesn't bounce us back into a bullish zone I may short the market, but we shall see. Overall long term, I'm curious if the Daily can push below and settle under 5160ish for a Lower Low. It would be the first time in quite some time that we had a lower low on the Daily trend, putting us at risk of getting a lower high Daily rebound that will call for markets to be on a decline. Overall, The Mag 7, especially NVidia, still continue to mostly carry the market with the bulk of the Dow in neutral territory at best, and the Nasdaq outside of the Mag 7 also neutral. I continue to be concerned about this rally being too narrow and traders continuing to use Mag 7 stocks as safety stashes, and what will happen if they choose to take that safety money out to stash it somewhere else. Trends into today are; Last Macro Trend Signal Spots (ES Contract) 30m - 5319 Downtrend (5/28/2024) Lower Low 1Hr - 5313 Downtrend (5/28/2024) Lower Low 2Hr - 5309 Downtrend (5/28/2024) Lower Low 3Hr - 5286 Downtrend (5/23/2024) Higher Low 4Hr - 5286 Downtrend (5/23/2024) Higher Low 6Hr - 5287 Downtrend (5/23/2024) Higher Low 12Hr - 5188 Uptrend (5/6/2024) Higher High Daily - 5330 Uptrend (5/15/2023) Higher High Weekly - 4769 Uptrend (12/11/2023) Higher High Monthly - 5304 Uptrend (03/31/2024) Higher High Economic Calendar; GDP Thursday PCE Friday Earnings to watch; Salesforce AMC today Costco earnings are tomorrow My sentiment on the market is as follows; Shorter Term - Bearish Short Term - Bearish / Neutral Medium Term - Neutral / Bullish Long Term - Bullish Basically, I don't see major risks in the long-term just yet, but the short term is a bag of mixed reactions. Currently in a place I feel we may need to look elsewhere. If you were looking for me to give you a warm and fuzzy on where to trade the ES Futures, I just can't give that today. Safe trading and remember your risk management.
CME_MINI:ES1!
by SemperTrader
S&P500: Don't expect any sizeable correction any time soon.The S&P500 index is on very healthy bullish levels on the 1D timeframe (RSI = 63.385, MACD = 146.190, ADX = 48.596) showcasing in the best possible way the bullish bias of the long term trend and pattern, which is a Channel Up. This month's pullback is perhaps the best buy entry we can have as in relative terms based on the 1W CCI, the index is printing a consolidation phase similar to August-October 2020. As long as the 1W MA50 is in support, we expect the Channel Up to gradually rise in the same manner as then and by early 2025 possibly hit the 1.618 Fibonacci extension (TP = 6,800). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:SPXLong
by InvestingScope