Indices
S&P 500 Daily Chart Analysis For Week of Sep 13, 2024Technical Analysis and Outlook:
Throughout the trading sessions of the current week, the S&P 500 Index has exhibited notable resilience, demonstrating a movement toward the Mean Resistance level of 5648 and the Key Resistance, and completed the Inner Index Rally level of 5666. A resilient rebound to this level in the upcoming week’s session is highly likely, with the possibility of further movement to the subsequent Inner Index Rally at 5739. Conversely, an anticipated downward movement toward the targeted Mean Support level of 5557 is expected upon achieving a resilient rebound.
NASDAQ: Critical breakout ahead that can send it to 22kNasdaq is almost overbought on the lower time-frames but just turned bullish on 1D (RSI = 55.402, MACD = -62.050, ADX = 25.952) and the main reason is that it closed over the 1D MA50 yesterday. This can't be considered a bullish signal on its own as the LH trendline is right over it and is being tested today. If broken, it is very likely to see the next bullish wave of the Channel Up. The previous two waves confirmed the uptrend after a candle closed over the LH.
If that happens, we will aim for a new Channel Up HH at the end of the year, almost at +31% from the bottom (TP = 22,000) like March's High.
See how our prior idea has worked out:
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NASDAQ=> Breakout, 19900 next?Hey Traders, in today's trading session we are monitoring NASDAQ for a buying opportunity around 19300 zone, NASDAQ was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 19300 support and resistance zone. Once we get any bullish confirmation a decent target will be 19900 as it's considered the next major resistance NASDAQ will be facing.
Trade safe, Joe.
“Nasdaq Continues Its Uptrend”Expectations that the Fed will implement a 25 basis point interest rate cut next week are being maintained. This situation is perceived positively for the indices. By the end of the year, a total rate cut of 100 basis points is almost certain. The CPI and PPI data suggest that the Fed might not need to cut rates as aggressively as the market had anticipated.
Technically, if the resistance level at 19,500 is permanently surpassed, the rise could gain momentum towards the 19,700 and then 19,950 resistance levels. On the downside, if the index falls below the 19,100 level, a pullback towards the support levels at 18,800 and then 18,450 might be seen.
Dow Jones Breakout And Potential RetraceHey Traders, in today's trading session we are monitoring US30 for a buying opportunity around 40750 zone, US30 was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 40750 support and resistance area.
Trade safe, Joe.
NAS100 H4 | Heading into overlap resistanceNAS100 is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 19,087.46 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level.
Stop loss is at 19,400.00 which is a level that sits above the 61.8% Fibonacci retracement level and a pullback resistance.
Take profit is at 18,324.29 which is a swing-low support that aligns close to the 61.8% Fibonacci retracement level.
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Heading into 61.8% Fibonacci resistance?US100 is rising towards the resistance level which is an overlap resistance that aligns with the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 19,152.11
Why we like it:
There is an overlap resistance level that lines up with the 61.8% Fibonacci retracement.
Stop loss: 19,632.23
Why we like it:
There is a pullback resistance level.
Take profit: 18,451.49
Why we like it:
There is a pullback support level.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
NAS100USD / TRADING BELOW TURNING LEVEL - 4HNAS100USD / 4H TIME FRAME
HELLO TRADERS
NAS100USD is currently trading below the turning level of 19,088 , indicating downward momentum. There are two potential scenarios:
The First Scenario, the asset is trading below the turning level of 19,088, it indicates a bearish sentiment .The immediate support level is at 18,317. If the price breaks this support, the next support level is 17,876,The price staying below 19,088 suggests a continuation of the downward trend. Support levels at 18,317 and 17,876 provide potential targets where the price could find buying interest or further decline.
The Second Scenario, For an upward movement, the asset needs to break above the turning level of 19,088 and stabilize above it , If the asset closes a 1-hour candle above 19,088, it could move towards 19,535, and possibly reach 19,844,Breaking and stabilizing above 19,088 indicates a shift in sentiment from bearish to bullish. The price targets of 19,535 and 19,844 are based on potential resistance levels or previous highs that could attract further buying.
SPX500 H4 | Overlap resistance at 50% Fibonacci retracementSPX500 is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 5,520.41 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level.
Stop loss is at 5,580.00 which is a level that sits above the 61.8% Fibonacci retracement level and an overlap resistance.
Take profit is at 5,388.72 which is a swing-low support that aligns close to the 50.0% Fibonacci retracement level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
ASX 200 futures enter the “death zone” for bulls ASX 200 SPI futures and bullish moves above 8000 haven’t mixed well in 2024, resulting in a raft of failed breaks, long topside wicks and topping patterns. It’s akin to a “death zone” for bulls, starving rallies of oxygen before eventually reversing.
I’m not outright bearish just because we’re back above the level, especially when momentum indicators are providing mixed signals, but I am interested in what happens near-term as it may dictate what happens longer-term. We’ll either get another topping pattern, or a bullish raid will finally stick. So, I’m waiting. I’m especially interested in how the price fares around 8080, if it gets there. The market has only been able to push through it once and never closed there.
Given the track record and current valuations, I’m more inclined to sell rallies but I want the price signal to do so. If we see another failed attempt around 8080, you could sell with a stop either above the level or the high set in August, depending on your eventual target. On the downside, the 50-day moving average looms as one, with 7871, 7794 and 7721 the next after that.
If the price were to break and close above 8121 before extending the move, the bearish bias would be negated.
Good luck!
DS
Could price drop from here?S&P500 (US500) is rising towards the pivot which has been identified as a pullback resistance and could drop to the 1st support.
Pivot: 5,498.75
1st Support: 5,392.64
1st Resistance: 5,562.88
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DAX H4 | Overlap resistance at 50.0% Fibonacci retracementDAX (GER30) is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 18,658.25 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level.
Stop loss is at 18,900.00 which is a level that sits above the 78.6% Fibonacci retracement level and an overlap resistance.
Take profit is at 18,269.64 which is a multi-swing-low support that aligns with the 38.2% Fibonacci retracement level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Bearish drop?DJ30 is rising towards the resistance level which is a pullback resistance and could reverse from this level to our take profit.
Entry: 40,629.65
Why we like it:
There is a pullback resistance level.
Stop loss: 41,194.90
Why we like it:
There is an overlap resistance level that lines up with the 61.8% Fibonacci retracement.
Take profit: 39,867.90
Why we like it:
There is a pullback support level that is slightly above the 61.8% Fibonacci retracement.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
S&P500 Breakout And Potential RetraceHey Traders, in today's trading session we are monitoring US500 for a buying opportunity around 5320 zone, US500 was trading in a downtrend and currently is in a correction phase in which it is approaching the retrace area at 5320 support and resistance area.
Trade safe, Joe.
S&P 500 Daily Chart Analysis For Week of Sep 6, 2024Technical Analysis and Outlook:
Throughout the trading sessions of the current week, the S&P 500 Index has demonstrated significant downward movement, completing an Inner Index Dip at 5408 and establishing a new Mean Resistance level at 5530. There is a strong likelihood of a rebound to this level. Further, emphasis is placed on achieving the extended downward move to the target marked at Mean Support 5344, where a resilient rebound is anticipated.
NAS100USD / TRADING BELOW TURNING LEVEL - 4HNAS100USD / 4H TIME FRAME
HELLO TRADERS
The overall trend is downward , until trading below turning level at 19,105 .
The price action points to a likely continued decline due to its inability to surpass the key turning point of 19.105, signaling persistent downward momentum. Staying under this level implies strong bearish pressure, with support levels at 18,699 and 18,351 as possible targets.
On the other hand, breaking above 19.105 would suggest a change in market sentiment towards a more bullish trend, potentially leading to a rise towards the resistance levels of 19,538 and 19,906, driven by increased buying interest and upward momentum
KEY LEVELS :
TURNING LEVEL : 19,105 .
RESISTANCE LEVELS : 18,699 , 18,351 .
SUPPORT LEVELS : 19,538 , 19,906 .
SPX500 - Support becomes Resistance !Hello Traders !
On the daily time frame, The SPX500 reached the resistance level (5669 - 5629).
Yesterday, The price broke a strong support level (5543 - 5565).
This key level becomes a new resistance level !
So, I expect a bearish move📉
_____________
TARGET: 5424🎯
ASX 200 futures look ominous heading into NFPIts failure to retest 8,000 after a feeble 2-day recovery this week looks like it may not take much to topple ASX 200 futures for another leg lower. And with an all-important NFP report lined up and traders heavily focused on minor signs of weakness, the path of least resistance could well be lower. Matt Simpson take a quick look.