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Sp500futures

S&P 500 to break 3405-3415 to make a new HIGH? Otherwise BEARSS&P 500 futures are the leading indicator of the market's health and where we could be headed. Currently we saw the market pop right off the support structure form the 100-day EMA where institutional buying started to come in again. There are 2 key levels we are watching for currently. The first is at the 3220 or so where the 100-day moving average and the institutional money started to come in again. The next is at the 3405 to 3415 where we have prior rejection for resistance. Price is currently pinned between these two levels and we're wary of how these levels will be interacted with. The bears could take control at the 3405 again as the big money is expecting. However, we could just see the strong pop above and that alone will probably push us into a new ATH. Where we will see optimism into the election. The other option is to see if the 3400 level holds out as strong resistance for sellers to enter the market and push price lower to break the 100-day moving average as anticipated. The downside is the higher probability scenario because of big money selling coming into the market from volatility and uncertainty. The fact that it is unknown when the President will be chosen means that VIX is likely to increase and that a lot of traders and investors are moving to cash. There is a lot of repositioning and it seems like a lot of volatility coming into the market throughout the next few months which means we're probably going to see downside back under 3200. Which means the target will be 3135. These ideas are for educational purposes only, this should not be taken as investment advice.
CME_MINI:ES1!
by TRADEPROAcademy
S&P 500 E mini Futures (ES) Correction In ProgressElliott Wave View of S&P 500 E-mini Futures (ES) suggests the Index ended the cycle from June 15 low as wave ((3)) at 3587 high. From there, Index has extended lower to correct that cycle. The correction is unfolding as a double three Elliott Wave Structure. Down from wave ((3)) high, wave W ended at 3347.75 low. Wave X bounce ended at 3453.25 high. Index then resumed lower in wave Y, which ended at 3295.50 low. This also ended wave (W) in higher degree. Afterwards, Index bounced higher in wave (X). The subdivision unfolded as a flat correction, where wave A ended at 3424.25 high and wave B ended at 3298.25 low. The rally higher in wave C ended at 3419.21 high, which also ended wave (X) in the higher degree. Since then, Index has resumed lower in wave W, which ended at 3217.75 low. The decline broke below previous wave (W) low, confirming that next leg lower in wave (Y) has already started. Currently, Index is doing a bounce in wave X, which will be followed by push lower in wave Y to end wave (Y) in higher degree. While below 3419.21 high, bounce in 3,7 or 11 swings is expected to fail for more downside. The 100-161.8% extension area of wave (W)-(X) where wave (Y) can potentially end is at 2945.50-3126.66. If reached, that area should see buyers appear to resume the rally or 3 waves bounce at least.
CME_MINI:ES1!
by Elliottwave-Forecast
S&P 500 E-Mini Futures (ES_F) Correction in progressElliott Wave View in S&P 500 E-mini Futures (ES_F) suggests the rally from 6.15.2020 low has ended at 3226.25 high as wave (1). Up from 6.15.2020 low, wave 1 ended at 3156.25 high and wave 2 dips ended at 2982.72 low. Index then extended higher in wave 3 towards 3184 high. The internal subdivision of wave 3 unfolded as 5 waves impulse Elliott Wave Structure. Wave ((i)) of 3 ended at 3021 high and wave ((ii)) pullback ended at 2988.50 low. Rally higher in wave ((iii)) then ended at 3156.50 high, followed by wave ((iv)) pullback which ended at 3105.75. Wave ((v)) then extended higher and ended at 3184 high. Wave 4 pullback then unfolded as a zig-zag Elliott Wave structure and ended at 3105.25 low. Finally, wave 5 higher ended at 3226.25 high. This final move completed wave (1) in higher degree and ended cycle from 6.15.2020 low. Index is currently correcting that cycle within wave (2). The correction is unfolding as a zigzag structure where wave A ended at 3190 low. Currently, wave B remains in progress and will be followed by another leg lower in wave C. While pullback stays above 2982.72 low, expect the dips in 3,7 or 11 swings to find support for more upside.
CME_MINI:ES1!
by Elliottwave-Forecast
1
Aud-Usd and some considerationsI draw inspiration from a brief analysis of AUD-USD to make some considerations on the moment we are living. In recent weeks the world economy has been in difficulty because of Covid-19, however, from a rapid comparison of the data, we can see how the Australian economy has strengthened over the American one since the beginning of the year. Under normal conditions, I would be looking for a level where to buy the currency pair. But that of Covid-19 is not a crisis like any other. We have seen this in several respects, such as the total uncorrelation between American equities and safe-haven currencies (CHF and JPY). If you take the chart with the comparison of the two markets, you can see that since March the USD-JPY and S&P 500 Futures have moved almost following an inverse correlation. That is because investors have preferred the US dollar as a safe-haven currency. You can also see this aspect with the chart above, that compares AUD-USD (in red) always to the S&P 500 Futures (in blue). Here you can see a perfect correlation between the two markets. What does this mean? It means that if the American market starts a new bearish phase, the fundamentals of the two economies will not matter; Aud-Usd will follow the movement of the S&P 500 Futures. In conclusion, with the Covid-19 crisis, everything it is cancelled, also for the great liquidity that the central banks are putting in the markets. Markets must be “navigated on sight”; surely when the situation will normalise, there will be great opportunities, but for the moment caution is needed.
by TradingwDavid
SPY/SP500 Patterns for the week 4-26-2020Last week ended bullish - above the 50 ma, bullish hammer on the weekly chart, still well below the daily upper Bollinger Band. I think this week should stretch upwards a bit more, hugging the purple channel on /ES and squeezing out shorts. I also think we're close to a turn downward, but last weeks failure to make any real bear tracks means (to me) that we've got a little more upside to go - possibly to the .618 or even the .658 around 2920 - 2970 on SP futures. I've posted two possible scenarios - green (12345 up) and red (ABC down). SPY will have it's own analysis (related to this, of course) but I'll post that once I see how futures go tonight/tomorrow. If we fall, how low? Well it's hard to say at the moment. As I've said, I don't see a larger crash just yet. I think the near term target is still 2635 area. If we crack below that - 2420 looks like strong support. Below that, we probably test the lows. I will update a longer term chart this week. -------------------------------------------------------------------------------------------------------------------------------------------------------- The last few days I've been looking at articles from April 1930 which near the end of the rebound for the 1929 crash. That rebound took approximately 6 months. I know the Fed/Government took quick action recently and things can go very differently from crash to crash. I don't expect a repeat of 1929. It's still interesting to read about what was happening at the end of the rebound of a major crash and see if there are any similar developments, both financially and psychologically. As I read about this time in 1930 it is obvious that the economy seemed to be in much BETTER shape than now. I copied these quotes from from futurecasts.com/Depression_descent-beginning-'30.htm - very much worth a read. The whole site is well done if you are interested in market history. "Total NYSE stocks reached just under $80 billion by April 10, 1930, making up about 73% of its losses since its September, 19, 1929 highs. The Big Board had surged about $30 billion in five months, a gain of about 65% . " "Unemployment was reaching worrying levels. Where on average it only took mere weeks for the unemployed to find new work during 1929, it now took several months." "There were great expectations of a quick business revival in the spring of 1930. Credit was ample and available at low rates. Bank rates had been cut sharply by the Federal Reserve Bank and all the major European national banks. Private interest rates had been cut even faster and sharper as people with money found it increasingly difficult to profitably employ it. Not only were business risks rising, the profit inducement to borrow was clearly declining, making the availability of money at sharply declining interest rates increasingly irrelevant." "Business failures were up sharply - the most since 1922." "This was the "spring rally" of 1930. The stock market remained determinedly over optimistic - bouncing back vigorously after each selling climax - rising in expectation of each possible trade turning point - and falling back only when disillusionment became inevitable." If you've got anything to add, I'd love to hear it. Good luck to all, Sunship
CME_MINI:ES1!Short
by the_sunship
55
Elliott Wave View: S&P 500 E-Mini Futures (ES_F) Extends HigherS&P 500 E-Mini Futures (ES_F) broke above last week’s high at 2635.75 and shows incomplete sequence from 3.23 low, favoring further upside in near term. Short Term Elliott Wave suggests the rally from 3.23 low (2174) is unfolding as Elliott Wave zigzag structure. Up from 3.23 low, wave ((A)) ended at 2634.5. Internal of wave ((A)) unfolded as 5 waves impulse where wave (1) ended at 2386 and wave (2) ended at 2179.5. Index resumed higher again in wave (3) towards 2560.75, and wave (4) ended at 2402.25. The last leg wave (5) ended at 2634.5 which also completed wave ((A)). Pullback in wave ((B)) unfolded as an Expanded Flat structure. Wave (A) ended at 2445, wave (B) ended at 2635.75, and wave (C) of ((B)) ended at 2426.27. Wave ((C)) remains in progress as 5 waves impulse where wave (1) ended at 2523, and wave (2) ended at 2449. Near term, while dips stay above 2426.27, expect Index to extend higher within wave (3). It should then pullback in wave (4) then extend higher again in wave (5) of ((C)). Potential target for wave ((C)) is 100% – 123.5% Fibonacci extension from 3.23 low which comes at 2888 – 2997.
CME_MINI:ES1!
by Elliottwave-Forecast
1
SP500 What next?Hello investor, SP500 is on important Support level region, we have buying defence on this level in the past few days. Yesterdey seens to be broken on downtrend side but today is forming a huge Bear trap in this level, we are also breaking the downtrend short term resistance line. We are facing a very delicated moment in the global economy, we cant predict what come next, the political decisions will make the SP500 next move go up or down, the virus situation will make the sp500 go up or down, in scenario like this tecchinical analyses we only will make our moves if the chart tell us what to do, but for this we need to wait the fundametal directed the price. Please, push like button and follow us in our social medias.
SP:SPX
by MarketMinds
S&P 500 Futures Gap Down#sp1! - S&P500 futures gapped down on the first night of trading following the worst week for stocks since the financial crisis. A continued push down was expected after more negative news flowed out during the course of the weekend, most notably in the U.S. where we saw the first Covid19 death, as well as localized quarantines and self-isolation being recommended in a few states. The main levels to watch for an indication of what Monday's trend will be for stocks when markets re-open are shown in orange. The upper orange line is where Thursday's price closed and where Friday's price were unable to close above. The lower orange line is where price bottomed on Friday. A move above the upper line would indicate that traders are attempting to form a bottom, or relief rally; a push below the lower orange line would indicate that traders aren't done selling the Covid19 fear as new lows are continuing to be made. The PPO is still in a hard decline, while the RSI is attempting to level off in oversold territory, though the RSI could remain oversold for quite some and doesn't necessarily mean that prices are prime to buy just yet. Judging by the continued deterioration of the situation, and lack of containment world-wide, we can expect traders to be hesitant to push prices higher until/unless the Federal Reserve and other global central banks step in with lower rates. Even then, the reactionary bounce on that potential event will likely be short-lived as the overall outbreak looks to be just kicking in to gear. Good luck out there this week, more updates on SP500 after the markets close tomorrow, or in the early morning if there is a significant price move or updated Covid19 news.
SShort
by PrepForProfit
Still Caution, Even as Market Has Rallied - S&P 500 analysisAfter U.S. President Donald Trump renewed his tariff threat against China, U.S. futures contracts — including for the NASDAQ, Dow and S&P 500 — retreated from their all-time highs. As well, this morning, exacerbated by the roiling unrest in Hong Kong, global shares are a sea of red. Sentiment itself is fragile and will likely follow prices. The S&P 500 has initially pulled back during trading on Tuesday but then shot higher to show signs of strength again. By doing so, the market looks likely to try to break out of he current bullish channel that it’s been it for some time, and as a result we could get an explosive move. That being said, there is a certain amount of overextension to what we are doing right now, so don’t be surprised at all to see a pullback in the meantime. The market could find quite a bit of support near the $3050 level on a significant pullback and will almost certainly find plenty of support at the 3030 and then the 3000 levels. Looking at this chart, there is an undeniable uptrend going on, so obviously there will be a lot of value hunters underneath to try to take advantage of cheaper pricing. On the upside, the 3100 level decisively is the next resistance (upper line of the channel is around $3137). If we see a clear break there, then the market will make its move towards the targeted $3200 level above, based upon the ascending triangle that we had broken out of at the $3030 level. Wall Street's main indexes have set new highs this month on the back of a strong corporate earnings season and hopes of a trade deal with Beijing to end the damaging 16-month tariff war. But the main question now is will rally be able to continue without earnings support? What do you think?
OANDA:SPX500USDShort
by ForexTrendline