S&P500-SPX500Accurate analysis. That's an update. Based on my analysis for US500 on Aug 17.
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Sp500analysis
SP500- Rise from support?Since the bottom was found in mid-June, SP500 has started to rise and at the beginning of August managed to break above important 4000-4100 zone resistance.
After making a high above 4300 the index started to correct lower and now is trading exactly above the mentioned resistance, now support.
There is a high probability for up continuation from this point and a long trade targeting the previous high can have a 1:2 risk: reward ratio.
Even more, if the correction started at the beginning of the year is over, swing traders can target 4.6k resistance with a 1:6 R:R.
SP500 INDEX PERSONAL ANALYSIS IN THE LONG TERM (DUMP)The overall evaluation on the SP500 index has been in a monthly bearish trend that has always confirmed itself via a monthly resistance trendline rejection ever since the apex turning point of this index from January 2022. Please be cautious on your risk management as always. The projected lines of direction (white) are not random skittles, but was produced by my experience of years of trading on how market moves work to build proper market structure. Yes, it is possible that we may even dump further than expected or pump tremendously due to some peculiar and consistent positive catalysts however this serves as a "guideline" on what to expect for the months to come.
The SP500 is very similar to the NASDAQ structure and as well as in crypto. We may not see any potential major consolidation ranges until we hit the 2020 support lines.
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S&P500: Rare, Medium or Done? 🥩That’s generally the question when preparing steaks. Additionally, we might also ask S&P500 whether it is already done – namely with wave V in pink and wave 3 in blue. We still give the index some time and room to finish them both, but afterwards, it should get started on a countermovement leading into the lower blue zone between 4144 and 3998 points. There, it should complete wave 4 in blue and subsequently take off again.
There is also a 40% chance, though, that S&P500 could drop below the resistance at 3950 points, thus eliciting a detour below the next mark at 3639 points and into the turquoise zone between 3597 and 3353 points.
S&P Resistance ZoneAs you can see, the most important resistance zone for S&P500 is 43450 to 43650...
S&P500, can we regain some losses?Hi Traders,
Indices have been a bear market lately and we have finally have reached a critical point if we will see a breakout upwards another push down. Looking at the HTF price has been consolidating within a falling wedge reversal structure. On the LTF, price broke out of a bullish continuation pattern within the larger structure which seems to be correctively pushing out of the HTF structure. Wait for further development to see if we will see a HTF continuation structure to give us a buy opportunity.
Trade Safe
Thanks
SP500 - Observation Still of work to get through the bears key defense zone. Keeping a close eye on this area if tested
SP500 can rise back above 4kThe end of last week was a good one for stocks with a Pin Bar reversal on Thursday and a strong bullish day on Friday(also the weekly candle is a Pin Bar)
At this moment SP500 is facing a confluence of resistances given by the horizontal 3900 and the falling trend line and a break above these could lead to further gains above 4k and to the next resistance at 4090.
I'm bullish this index and I'm looking to buy dips.
A drop under 3700 would negate this scenario
Just some small changes to the chart. Continuation of the previous charts as I learn new things or make corrections.
SPX bullish short term (followed by a correction)Expecting SPX to move up from here since the 5 EMA crossed above the upper limit of the latest downwards channel. Target is the upper limit of the red channel (above the 80 EMA). Hereafter expecting price to correct again to the downside after the 5 EMA breaks out of the red channel.
A close back below the last green channel invalidates this idea.
10 yr My W4 on weekly HTF chart is looking likely. If the Fed & ECB are in the debt market trying to stabilize the system via repo swaps then this dump is going to be a normalization process and the markets will chop around in some f**ked up range until W4 is complete around 1.9%-2.2% during this normalization period bullish momo will fizzle out and bears will short all pumps and win , but the greedy bears will get squeezed as all big dumps in markets will get bought up quick and change the direction b4 most traders know what even happened. I suggest only buying your core positions until w4 is finally done projected to finish July-Sept 2022. This would be a good move for the patient investors here to hold and add because once the W4 finishes and markets stabilize (if the fed pivots like I am saying above) W5 will line up on the 10 yr with W5 for stocks & crypto. Conversely If W4 becomes a fear trade (inflation narrative grows momo, war in Ukraine gets worst possibly nuclear war, china invades Taiwan or anything else unforeseeable) then W4 will decimate markets and 3200 SP500 is possible and $12K BTC.
SP500 Bullish move expectedSP500 is ready to move up and give good returns. It will give a good reward with minimum stop loss
S&P 500 Still Bearish in Long TermSetup:
1. we note a d3 Choch
2. OB D3
3. Liquidity D3
4. will wait for 12H LTF Choch
5. Last OB H12 OB creation
6. Then we willSell
S&P500: No LazybonesDespite the holiday in the United States, S&P500 has not been lazing around but has climbed into the middle white zone between 4156 and 4224 points. There, the index should finish wave (3) in white and subsequently start a countermovement into the lower white zone between 4076 and 3999 points. After it has completed wave (4) in white in this region, S&P500 should turn around and head for the upper white zone between 4332 and 4400 points to finish wave (5) in white. However, there is a 38% chance that the index could break through the bottom of the lower white zone, fall below the support at 3855 points and drop into the magenta zone between 3788 and 3683 points.
S&P 500 Still Bearish .
S&P500
It remains bearish,
in the next few days we will have a second opportunity to sell it.
Note: See order block 3D Chart
S&P500 has formed triple bottomS&P500 has formed triple bottom around 3800
shown a minor pullback
Technically, near-term resistance is at 4000
significant support stands at 3800
Gap coveredThere was a huge gap from the last run up, now is covered and creating a new fractal, now everything looks like a real upstair 4300
SP500 from the bottom of the channel upThe long-term trend remains bullish and the current ABC corrective pattern could have been completed.
S&P500: Exhausting 🥵An exhausting time lies behind S&P500! It has been moving up and down with vivid gestures and has paced itself a bit only recently. We expect the index to take a rest in the magenta zone between 3788 and 3683 points, where it should also finish wave iv in magenta. Afterwards, it should be revived enough to rise towards the mark at 4101 points. However, there is a 33% chance that S&P500 could be too nervous to relax and thus could climb above 4101 points immediately.
SPY Long Legged Doji on Daily!!! What's up everyone. Been a rough last few weeks as we know! We ended this CRAZY week in a DOJI and Daily Which looks to be a Long Legged Doji (Trend Reversal)
We do on the other hand a have a gap to be filled at 400 levels highlighted. It could either dump down there and fill or possible gap up monday morning..
From the looks of it though with Bitcoin going down slowly we most likely will fall through 400 anyways... When? I cant tell you!
Anyways good luck everyone! We shall see what happens :)
Evening Update: When I say the Bulls blew it...I mean it!Today was disappointing to say the least. When I say I know some of the best Elliot Wave Practitioners on PLANET EARTH, I am not exaggerating. No one was expecting this. The Math at the 1.0 Fib Extension was perfect. WHY GIVE IT AWAY?
The problem with today is we lost positive divergence on the daily chart. What does that mean? We go down...is what that means, and we now need more time to rebuild positive divergence on the daily chart before we can even think about looking up. That's why today's morning update was titled "TODAY HAS TO BE THE DAY".
Therefore I look to the next area of support at the 3700 level. Is it strong support? NO
But for right now there's no power behind the BULLS so this could end up getting far uglier before it gets prettier.
Potential Good News: The breach of the 1.0 was not substantial. To change my perspective on the above I need to see the following.
1) I need a lower Open in the AM.
2) I need to see off that lower OPEN a rally of epic proportion. a Green close above 4084.00
I'll see you all in the AM as we continue our efforts to track a bottom.
Best to All,
Chris
