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MARKET OVERVIEW 👨‍👩‍👧‍👦 | $SPY + $APPL + $JNJ + $JPM + $T📊📊📊Let's take a look at the S&P, Apple, Johnson and Johnson, and AT&T. Today we are looking to see if we can find the direction of the market going into the week by analyzing some top S&P holdings that are indicative of different key sectors. The idea is to look at two bullish sector charts Apple (tech) and Johnson and Johnson (healthcare), and two bearish charts JP. Morgan (financials) and AT&T (communications), to see if we can find the direction of the market. While our money is on more upside eventually (especially with Apple making an All-Time High (ATH), zero interest rates, and stimulus outweighing temporary slow recovery concerns), we want to know if the bears of the market pull us down or the bulls can sustain continued uptrend going into the week. This write up took a long time so please Hit that 👍 button to show support for the content and help us grow 🐣 --- S&P 500 Index Support S&P: We have found a reaction on the S1 major price pivot point at the S/R flip. This is of course the ideal spot for the bulls to find support. If that last wick was the only test of this level we end up getting, all the better for the bulls. If we do need to test lower levels, then the S2 untested bullish orderblock right below us provides another chance at retaining a bullish market structure. If neither of these hold, the bulls have one last chance at the uptrend with the S3 orderblock cluster and previous range lows. A grind down to this level like we see with AT&T seems like one possible pathway there. Resistance S&P: The main resistance we will be looking at with most of these charts is seen in the S&P's R1 orderblock cluster at the previous swing high. Regardless of where we find support, this resistance will be the main point of contention. --- Apple Support APPL: Apple is by far the most bullish asset here. It is also the top holding of the S&P. The major support for Apple is the S1 orderblock and S/R flip cluster at the previous All-Time High. For the rest of the market to retain a bullish structure, S1 holding is key. If S1 can't hold, the S2 orderblock and gap-fill is the next best hope for the bulls. The bulls don't want to see any weakness for Apple, so holding these levels and making new highs is key. Resistance APPL: Apple resembles the S&P, and that is logical because it is the biggest S&P holding. Rejection at R1 for Apple means no new ATH. Breaking R1 means a new ATH. How Apple reacts matters for the market. We see this one being broken eventually, but it has to happen sooner rather than later to lift the rest of the market up and avoid a "slow recovery." --- Johnson & Johnson Support JNJ: The S1 orderblock and gap-fill on JNJ is about to be tested and is the ideal support. Finding support here means another point for the S&P bulls because we get JNJ working for us and not against us. If S1 can't hold, we have S2 not too far away, this plays into the S&P's S2 holding as well. A dip this low isn't ideal, but the bullish market structure isn't broken if S2 holds. Resistance JNJ: JNJ has been correcting longer than most of the stocks on this chart. Of course, it also has a more bullish overall structure than our JPM and T bearish charts. For JNJ though, the longer correction means more levels of resistance, both the R1 S/R and orderblock and R2 S/R stand in the way for JNJ. This makes it a little harder to rely on than Apple from a pure TA perspective. --- J.P. Morgan Support JPM: Big banks have their pros and cons right now, but for the market to reflect those pros S1 holding is ideal. JPM could be off to the races, or it could be making a drawn-out bottom formation. A retest of S2 gives weight to that long drawn out bottom, therefore the big bank and S&P bulls want S1 to hold so we can maintain momentum. Resistance JPM: The primary resistance for J.P. Morgan is the R1 orderblock at the prior swing high. The recent market structure is similar to Apple and the S&P as a whole, it is only the previous structure that signals that JPM is a weaker asset currently. Some good JPM fundamentals could help the S&P here. --- AT&T Support T: AT&T is the most bearish S&P holding we are charting. It lost its major support and is onto the S2 S/R and orderblock cluster. If this one doesn't hold, giving us a higher low, then we are simply retesting the COVID lows. If major holdings start breaking down to new lows, its a bad look for the market. The best way to avoid making new lows is not to retest old lows and instead to make lower highs. This is what the bulls want from T. Resistance T: Even though this is the most bearish chart, there isn't a ton of noteworthy resistance, which is a good thing. R1 is the main resistance for T. This range is notable as it was a previous resistance as well, T has this in common with the S&P... which helps confirm R1 being an important level to breach for the bulls. --- Summary: The S&P rallying from here or consolidating above S1 would be ideal for the bulls. For this, we need the more bullish S&P holdings like APPL and JNJ to hold their respective support levels and then rally while weaker holdings like JPM and AT&T avoid too much further correction. If some of the weaker holdings can find support at their current ranges, or perhaps even at the next range down while the more bullish holdings stay their ground, then we could still be looking for S1 and S2 to hold for the S&P. However, if the market tries to go bear, then we would more be looking big tech like Apple to hold up the rest of the market like Atlas while we eye S3 for support for the S&P. It seems unlikely that we make new lows, and so we are looking for support to hold overall, but a trip down to S3 certainly will have an overall market recovery mimicking the slower recovery noted by the FED and this scenario likely results in retests of the bottom for some of the weaker S&P holdings. Will the S&P pull an Apple and aim for new All-Time Highs, will it correct for a bit like JNJ perhaps taking us to S3, or are we going to get a JPM and T style upset? That is the question. Resources: www.zacks.com + www.nytimes.com
OANDA:SPX500USD
by AlphaBotSystem
5
Will JPMORGAN continue climbing to historical summit?The movement of stocks is known in the past days, a strong movement in all sectors, even the financial sector knows a strong movement and among them the JPMORGAN CHASE & CO after the stock bounced from a weekly trend The stock formed a classic triangular, and it was able to penetrate it with a respectable volume, and with a price gap. The stock will currently try to descend towards the upper side of the triangle to retest at 105, which is a good opportunity to buy by targeting the top at 135.
NYSE:JPMLong
by TradingFleet
Hunt my stop loss / you missed!!What up every one. I told you my trading zone Gold under 1730 Now this is your opportunities My trips, I shoot 4 Bullets -1720 : 1 order -1710 : : 1 order -1700 : : 1 order 3 day ago. I show stop loss at 1700. I really surprise. the price go down to my stop loss. It is ridiculous. Are they hunting my stop loss. you missed!!! Now back to 1720. We will fight back. JP Morgan predicted that there is a 60% chance that a recession will occur in 2020 You can't escape recession . Gold is money. Give money to me. Give a profit to everyone.
OANDA:XAUUSDShort
by Trader-Crisis
1
#BTC Update [May, 12th] : building out an ascending channel#BTCUSD: Looks to be building out an ascending channel #Bitcoin still remains bullish after a show of high volatility on these complex events; the bitcoin halving, Paul Tudor bought bitcoin, JPMorgan bank takes on Coinbase , Gemini as its first crypto exchange customers,... Two possible scenarios 1. Retest 8,400 and bounce on the uptrend support then we most likely get the top of the channel at 10,000 ~ 10,500 again; or heading upwards now to hit 10,500 level without retest support line. 2. Leaning towards the bearish side, breakdown of the support line will result in revisiting 7,600 level. If losing that support would lead bitcoin to the bear market on the mid term. Don't predict the market, stick your plans in all scenarios and always have a plan B.
COINBASE:BTCUSD
by Crypto2AF
CLEAR ascending support on JPM - and we are lazy at it right nowAscending support on JPM - some will also identify the pivot highs calling for a triangle pattern. Keep an eye on this support level if the market gets weaker - looking for things that were already lazy when the market was strong... looking for those to then get even weaker when the market gets weak... this is a good way to find intraday setups! Hope this chart perspective helps the community xeenos trading - sending positive energy to all those watching.
NYSE:JPM
by xeenostrading
WOW - Remembering all Mr. PresidentsLmao, I did not remember this. It's from long time ago trying to understand a little bit more this bank. Maybe is something irrelevant but it could be helpful to feed the curiosity some people still have and expand their knowledge with a better research. Also if i lose this idea again for some months I'll know where to find it now. There I tried to find correlation between democrat presidents or republican and the action price development from that far, just for educational purposes like I said. Just to be able to dig a bit more and find political causes related to the historical growing of one of the biggest banks on Earth. I found this when I was checking other "too big to fail" banks recent movements, to check the impact with all this infinite stimulus have been announced almost everywhere, and anyone with sufficient authority is printing money now. What a mess, isn't it? Please hope you find your own conclusions from here, always keep that curiosity... and doubt. Thanks!
NYSE:JPM
by harribatu