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Sp500analysis

SP500 Update 30.10.2023The SP500 index has been correcting since August. When we look at this correction, I also see that it is in line with the Elliot Wave principle. Last week, the index fell to $4115 and found the support level indicated by the volume profile indicator. I think that the index will find support around this level and return to the uptrend. Therefore, although I think that it will go down to $4060 this week, I think that it will close the week around the $4130 level. At such a close, I will receive a return confirmation. When I receive a return confirmation, I will review my share portfolio in the US stock market and make the necessary purchases.
SP:SPXLong
by YavuzAkbay
2
SPY $400-$410 Support LevelNo need to overthink this one. Pretty clear trend line on a linear chart. Why linear? Cause we aren't looking at multiples in price change, logarithmic wouldn't be best used here, and I have seen many charts showing false trend lines with a log chart. Logarithmic scales are useful when the data you are displaying is much less or much more than the rest of the data or when the percentage differences between values are important. This is not the case, we are only looking at price change from 2020-2023. $400-$410 is a strong support level which I expect to hold, or at least bounce off of. However, this does not mean I expect the SP500 to break to new highs. Ultimately, I cannot predict whether we crash or break to new highs, but I would lean to lower lows. So be cautious here. I plan to open some cheap $420-$430 November calls under $410.
AMEX:SPYLong
by bishopknight
SPY 2 Bearish Scenarios 1. Less Bearish Scenario We have a 1-2 1-2 with the impulse wave 3 down in progress or still to come. The difference between the 2 scenarios is the higher timeframe. In this less bearish scenario, this move down is part of the primary wave C in the correction that started Jan 22. Once is done a new cycle will begin. 2. Bearish scenario In the bearish scenario, this move down is part of the primary wave 3 and not wave C. We are still in the 1-2 1-2 waves down with minor wave 3 yet to come. All of these waves are part of the primary wave 3 in the correction that started on January 22. Are you berish? What other alternate scenarios do you see? Legal Disclaimer: The information presented in this analysis is solely for informational and educational purpose and does not serve as financial advice.
AMEX:SPYShort
by WavesInvesting
S&P500 - Long; For now ...This naturally rimes with the Nasdaq signals and with the overall global equities outlook. Here, two opposing forces are the most significant factor; 1) The unfolding (and enduring!) USD strength - Downward pressure ; 2) The massive, continuously inbound (to US) capital flows , primarily from Europe - Upward pressure . Driven by the rapidly unraveling globalization (driven by a Europe which the US decided to turn into a bonfire that is now clearly visible from Alpha-Centauri, and a China which is dying of old age as the demographic apocalypse is hitting hard this year - 2023), these fundamental forces will likely make this year one for the records - especially when it comes index (equities) trading. Many, many trading opportunities to be expected, throughout this year, probably far more than in other periods. Laissez le bon temp roule!! ...
CME_MINI:ES1!Long
by Nemo_Confidat
8
SP500 BULL ACCUMULATIONHello! I see SP500 has formed some bottom on 12H timeframe and closed beyond previous 12H High Point. Bulls are gaining more strength in this market, that has seen 3 weeks of countinious decline. It looks just about to swing higher. Taking into consideration that previous weeks NFP data came out much stronger then forecast, about 330k new payrolls added to the economy tells of a strong labor market. This adds to the FEDs case to raise interest rates further and would be bearish for the SP500. This was not the expected market reaction, instead a small decline was followed by a steep increase and that is telling me bears are running out of steam. Write in the comments what you think will happen next week!
BLACKBULL:SPX500Long
by eediiz
SP500: Consolidation in Short Term?Hi Traders! Medium and Long-Term Trends are bullish, but in short term SP500 could remain bearish even after a pullback. If we look at daily chart, the Price Action is approaching an important support area around 4,305, if from here it triggers a bullish leg, it's possible a harmonic structure formation (for us, bearish). Having said that, we have a first Target Area around 4,275 and subsequently 4,220. Trade with care Like | Share | Comment
OANDA:SPX500USDShort
by TheAnonymousBanker
7
[EN] W Recession in SP500 // GaliortiTradingThe next crisis will be very similar to that of the 2000-2010 period. At first, the economic crisis will condition a bursting of the technology and fast-growing stock bubble, only to be followed by a financial crisis after a short-lived recovery. First floor: first quarter of 2025 . SP:SPX = 2.470 Second floor: second quarter of 2030 : SP:SPX = 2.100 Soft landing for the next quarters? Don't believe it! Bond market losses, office real estate in USA crisis, Citibank surprise indicators plummeting, manufacturing PMI, investment rate curve , real estate crisis and economic slowdown in China, historical record of credit card defaults (consumer collapse), cash flow difficulties of medium and small banks , reduction of the balance sheet of the FED and other major central banks , the effect of higher oil prices on the economy (restriction of oil production by Saudi Arabia/Russia), increase in the cost of r efinancing the huge public debt due to high interest rates, ....
SP:SPXShort
by GaliortiTrading
S&P bounces back off September lowOn Wednesday the S&P 500 briefly broke below 4,240 to test support at the lower end of an upward-sloping trend channel that has been building since last October’s low. This took the index back to its lowest level since the early summer and had many traders expecting an extended decline. But it snapped back and in early trade on Friday the S&P had added just under 100 points from Wednesday’s low helped by some better-than-expected US inflation data. Core PCE for August rose 3.9% year-on-year, as expected, but down from the prior reading of +4.2%. This countered the unexpected increase in the CPI readings seen just over a fortnight ago, which appeared to trigger the S&P’s sell-off from over 4,500. Ahead of this week’s rally, the S&P was on course for a September loss of 4.6%, while the tech-heavy NASDAQ 100 was 6% lower. So the positive rejection of support over the last few trading sessions has been a welcome respite for the bulls, if not the bears. But it’s probably too early for the bulls to declare victory. We may see a positive session to end the month and quarter, but there’s still the danger this weekend of a US government shutdown, which, even if short-lived, could be the catalyst for another pull-back. If deep enough, we could see another test of downside support.
SP:SPX
by TradeNation
If the S&P500 is to bounce, surely it should be today?We all know that global indices have been under pressure whilst the US dollar and bond yields scream higher. But with the S&P 500 respecting key levels of support and forming a bullish hammer on Wednesday, perhaps it is time for at least a sympathy bounce? Furthermore, the hammer low perfectly respected trend support and closed above the 200-day EMA, with a bullish RSI (2) that curled higher from oversold and the RSI (14) is itself nearing oversold. We're not looking for a strong risk-on rally, but a small bounce (perhaps towards the August lows of 4400 gap resistance level) may not be such a crazy idea. At which point we could seek evidence of a swing high and a potential break of trend support. Naturally, an immediate break of yesterday's low would also invalidate trend support and likely signal its next let lower.
TVC:SPXLong
by CityIndex
SPX to continue down?As I explained last week, there is a high chance for SP500 to drop to important 4250-4275 zone support. On Friday the index dropped under the short-term trend line and, after consolidation on Monday and Tuesday, yesterday we had a strong drop. The overall picture is pretty bearish at this point and another 150 points drop becomes very probable. In conclusion, as long as the index stays under 4500, traders could look to sell rallies in search of a good risk: reward.
SP:SPXShort
by Mihai_Iacob
16