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SPX (S&P 500 Index)

SPX Will Go Down From Resistance! Short! Here is our detailed technical review for SPX. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 5,572.70. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 5,289.89 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
SP:SPXShort
by SignalProvider
4
S&P500 Short-term buy signal.The S&P500 index (SPX) is just after the middle of the new Bullish Leg of the 3-month Channel Up, supported by both the 4H MA50 (blue trend-line) and the 4H MA100 (green trend-line). The Sine Waves have been very efficient at projecting the bottoms and tops (Higher Lows and Higher Highs respectively) throughout the pattern. Right now the index is approaching such a top and once the 4H RSI makes a Double Top, it will be time to take profit. Rough projection, we expect that to be around 5700 and that is our Target unless the RSI double tops earlier. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500Long
by TradingShot
Matter MattersMarkets are liquid. Liquids, by definition, move. Some of them have moved tremendously well. These liquids got so strong that they are now considered to be gasses. Unfortunately for them, gasses are not very dense. They are light and weak. Apple is the prime example of this important paradigm change. Until ~2005 Apple tried to strengthen and it magnificently did. It reached the optimal point in its cycle. It began as cold hard ice which is hard to move and turned into dense water. In the last 20 years Apple (and many others) turned into hot liquids that have the risk of evaporation into gas. Now these hot markets are reaching the end of their cycle... Gases reach the upper levels of the atmosphere. There they can only turn into rain, or escape into space. Either one of them is bad for markets. The birthplace of bull markets are rivers lakes and oceans. The end of their life is up in the skies. Market Cycles are just like Water Cycles. They cannot escape the cycle. Hot markets can only get colder. Remember, space is very very cold and can easily turn growing gasses into falling rain. Investors are now beginning to fear. And so, they fly to safety. One of these safe havens is Gold, which has performed incredibly these past few months. Inside the equity market however, there are stocks that begin to exhibit incredible signs of resilience (coldness) like BRK.A Has Berkshire reached the "island of stability"? If we plot a volume-weighted candle chart, we realize that Berkshire Hathaway has created a massive plateau. A lake in the mountains. A place for investors to swim into. With ongoing worldwide conflict, investments like these will definitely pull buyers towards them. Apple is not the only weak. It is a mere example of the many "bubbling" companies that face issues. Their growth was an example of easy money loose monetary policies. With high yield rates the survival of these bull markets is not guaranteed. On the other hand Berkshire is not the only one that shows strength. Companies like Exxon Mobil, an energy company, cannot be easily ignored. Now compare this massive brick of volume to the following chart: No words need be spoken. Matter matters. Not all H2O is identical. A solid investment needs ample liquidity and warm water. A long-term investor may seek heavy icebergs, which may take years to melt. A seller or a reckless trader may look into some of the innumerable gas giants to profit on. Tread lightly, for this is hallowed ground. -Father Grigori
NYSE:BRK.A
by akikostas
4
SPX: strongly optimisticThe S&P 500 had another steady up-trend week, reaching a new all time highest level on Friday, after the US unemployment data were released. At the level of 5.567 the index is also ending the week, which represents a 0.54% increase from the previous close, and a 16.7% increase for the year. The index opened the week at 5.475 and showed a consistent upward trend. The performance could be attributed to a combination of released economic data and investors sentiment. The unemployment rate in the US reached 4.1% in May and was by 0.1 percentage points higher from the previous month, which gave a signal to investors that the Fed might cut rates in September, as inflator pressures should further slowdown amid weakness in the jobs market. Aside from released data which investors are treating as positive, there was also positive news from the companies included in the index, which additionally boosted investors sentiment. Tesla had a very good week, whose shares rose by more than 27% for the week. With this gain, Tesla managed to wipe out incurred losses during the year. Strong increase in the price of shares was supported by the reported Q2 vehicle deliveries which were highly above investors estimates. The other tech companies also performed on a positive side, where Apple shares were traded higher by 2%, reaching their all time highest levels. Still, the market's beloved share, Nvidia slid by 2%, on the report over limited growth potential for the chipmaker. Still, Nvidia is ending the week relatively flat.
SP:SPX
by XBTFX
#202428 - priceactiontds - weekly update - sp500 e-mini futuresGood Evening and I hope you are well. tl;dr sp500: 3 Best looking bull bars very late in the trend, breaking above two strong resistance lines. 75% that this is a bull trap and we break down Mo/Tu below 5580 and be on our way to test the daily 20ema and the lower bull wedge/channel line. Will short this on weakness on Monday. Next 500-1000 points are made to the downside. Can I be wrong? Absolutely and everything can and will happen in the markets. Markets can remain irrational longer than you can stay solvent. Yadayadayada. Quote from last week: comment: Bulls got their retest as written and now market is technically free to have a major trend reversal. June was a perfect bull trend from the beginning of the month. Market had 3 legs up with a two legged correction completed now. We could spend more time at the highs in a trading range or have a deeper pullback from here, which is my preferred path forward. The bull trend line will probably be tested around 5460 and there market will decide if it wants to stay above 5400 or get down to 5320/5350. comment: Market tested 5500 twice and since it found no sellers down there, bears stepped aside and bulls printed 3 climactic bull bars very very late in this trend. The odds that this is a legit breakout above multiple resistance lines is very low. Much more likely is a bull trap and market will reverse over the next 1-5 days. current market cycle: Bull trap and the end of this trend is near. Will soon see a deeper pullback and we will form a trading range where the low is 5000. key levels: 5500 - 5630 bull case: Bulls see this AI bubble as legit and markets can only go up. Breaking above the bull trend line from 2023-01 is ok bc Daddy Jensen is signing breasts. That the markets are only held by 7 stocks is also a big buy signal since most eco indicators are puking. Don’t know what to tell you here. Market can obviously go much higher for longer and we can print a couple of higher highs. But I will never join the “this time it’s different” crowd. The only sure thing before bubbles popping is that markets print more and more ridiculous highs while more and more people say “it’s really different this time” and they always popped and always will. That’s the nature of the game. Am I saying you should short this right now? No. Do you want to buy this at 5621? If your answer is yes, I do hope you make money, enjoy my letter and take something from it. Invalidation is below 5580. bear case: 16 Month old bull trend line and couple of more where market want’s to break above on low volume and declining economic activity across the board. Good luck with that. Will never buy into the frenzy. Bull trap most likely and I want to see strong selling before joining. Bears first target is 5500 and shortly after probably the gap close to 5430. Invalidation is above 5630. outlook last week: short term: Neutral until bears get follow through and print lower lows below 5500. I’d short to 5490 and see how market reacts to the daily ema. If the support is weak, more shorting to 5450ish. Absolutely no interest in buying here. → Last Sunday we traded 5521 and now we are at 5621. Meh outlook. Was bearish if market would go below 5500 but it never did, so nothing lost or gained here. short term: Most likely outcome for me is a bull trap above 5600 and we will see a correction over the next weeks. I wait for bear strength before shorting. I will only continue to buy quick momentum scalps if we continue upwards. medium-long term: Bearish if the latest climactic top turns out to be a trap and we trade below 5580 again. If so, we will see a bigger correction down to at least 5450 in the near term and likely also 5300. Still think 5000 will be hit in 2024. current swing trade: None Chart update: Removed the smaller two legged correction and added another bull gap highlighter. Double top did obviously not hold but I still think this is a bull trap and a bigger two legged move sideways to down is more likely.
CME_MINI:MES1!
by priceactiontds
3
AMAZON 210 NEXT NASDAQ:AMZN AMAZING AMAZON 210 NEXT Recent Analyst Consensus: According to recent analyst predictions, the consensus target price for Amazon in the next 12 months is around $221.55. This would imply an increase of approximately 14.62% from the current price1. Keep in mind that this target price can vary among different analysts. Historical Performance: Amazon has been a remarkable success story, with its stock price consistently rising over the years. It started as an online bookstore and expanded into various other sectors, including cloud computing (Amazon Web Services), entertainment (Amazon Prime Video), and smart devices (Amazon Echo). Factors Influencing Stock Price: Several factors impact Amazon’s stock price: Earnings Reports: Investors closely monitor Amazon’s quarterly earnings reports. Strong revenue growth and profitability tend to boost the stock. Market Sentiment: Overall market conditions, investor sentiment, and economic trends play a role.
NASDAQ:AMZNLong
by NYRUNSGLOBAL
This is not the end of the bull marketThe S&P 500 closed at a new high last week, indicating strong upward momentum. In terms of macroeconomic data, June's ISM Services PMI fell to 48.8 (previously 53.8), below the consensus of 52.5. This signals a weakening in the services sector, which might impact investor sentiment in the short term. On the other hand, the Non-Farm Payrolls (NFP) data for June came in at 206,000, exceeding the consensus of 190,000 but below the previous reading of 218,000. Despite this, the data positively influenced the market as it brought the prospect of an interest rate cut by the Fed closer. Private sector employment stood at 136,000, below expectations of 160,000, which was interpreted as a sign that the Fed might be more inclined to ease monetary policy. Seasonal Prospects We are currently in a seasonally favorable period for the market, which could last until mid-July. Historical data indicate the potential for further gains, supported by seasonal analysis and technical signals. Risk Pricing and Sentiment The market currently prices in a 72% chance of the first rate cut in September. Additionally, 67% of retail investors hold short positions, which, from a contrarian perspective, is positive for further gains as potential short covering could drive stock prices higher. Seasonal Prospects We are currently in a seasonally favorable period for the market, which could last until mid-July. Historical data indicate the potential for further gains, supported by seasonal analysis and technical signals. Risk Pricing and Sentiment The market currently prices in a 72% chance of the first rate cut in September. Additionally, 72% of retail investors hold short positions, which, from a contrarian perspective, is positive for further gains as potential short covering could drive stock prices higher. S&P 500 Returns After 20 or More All-Time Highs at Midpoint of the Year The table shows that the S&P 500 market typically performs well after achieving numerous all-time highs by mid-year. Historically, these years end with positive returns for the full year. S&P 500 Returns After >10% YTD at Midpoint of the Year The data indicates that years with over 10% YTD returns by mid-year often continue positive trends throughout the rest of the year, resulting in significant gains by year-end. Nonfarm Payrolls and Job Market Data Nonfarm payrolls increased by 206,000, although revisions for previous months lowered these figures by 111,000. Despite this, the unemployment rate remains low, indicating a strong job market. AAII Member Sentiment on Stock Market Direction A significant portion of AAII members are bullish about the market direction over the next 6 months, with bullish sentiment higher than historical averages. Most Anticipated Earnings Releases for the Week Beginning July 08, 2024 In the upcoming week, earnings reports from several significant companies, such as PepsiCo, Delta, and JPMorgan Chase, are expected, which may significantly impact market sentiment. S&P 500 Earnings Growth for Calendar Year 2025 Projections indicate the highest earnings growth in the information technology and healthcare sectors, with more moderate growth in other sectors such as real estate and consumer staples. Growth in Disposable Income and Compensation vs. Inflation The growth in disposable income and compensation exceeds inflation, indicating increased purchasing power for consumers. Consumer Spending Trends Consumer spending is rising steadily and remains above trend despite economic fluctuations. S&P 500 vs. Rising 10-Year Treasury Yield Strategy The current situation indicates stability in the bond market and continued growth in the S&P 500 index. The lack of a signal to switch to cash suggests that the stock market is in good condition, allowing investors to benefit from the rising market while monitoring bond yields for future warning signals. Key Economic Events in the Coming Week Next week, several key economic events are expected, which could influence the markets: Current market conditions suggest further potential gains for S&P500. Despite some concerns about the labor market, overall sentiment, seasonal support, and technical indicators point to a continuation of the upward trend. It will be essential to monitor further macroeconomic data and Fed decisions, which will be crucial for future market movements.
CAPITALCOM:US500Long
by InvestMate
1
AMD 200 BY SEPTEMBER !AMD Long 200 BY SEPTEMBER Forecast: According to Long Forecast, AMD’s stock price is expected to start September 2024 at around $174 and reach a maximum of $177, with an average price of approximately $167 by the end of the month. This projection suggests a -5.7% change from the initial value. PandaForecast: The weighted average target price per AMD share for September 2024 is $151.81, with a possible monthly volatility of 6.201%. The pessimistic target level is $146.28, while the optimistic target level is $155.95. Personal Finance Freedom: Their forecast indicates an average price of $170 for September 2024, reflecting an expected increase of approximately 14.8% during that month. StockScan: The average price target for AMD stock in 2024 is $180.52, with a high forecast of $227.30 and a low forecast of $133.74. This represents a +10.14% change from the last recorded price of $163.90.
NASDAQ:AMDLong
by NYRUNSGLOBAL
S&P 500 / Key Price Levels and Scenarios Amid NFP ImpactS&P 500 Analysis: Navigating Volatility with Key Price Levels and Scenarios Amid NFP Impact The S&P 500 currently faces a significant supply zone between 5525 and 5550, having recently hit a new all-time high at 5550. Despite this, the broader outlook remains bullish, especially after stabilizing above the previous resistance level of 5525. However, the upcoming Non-Farm Payroll (NFP) report is poised to significantly impact the market. Bullish Scenario: To maintain the bullish momentum, the price needs to break through the supply zone and continue upward towards 5635. A 4-hour candle closing above 5550 would indicate a continued uptrend for the following week. Bearish Scenario: Conversely, if the price drops and stabilizes below 5525, it would signal a bearish trend, potentially leading to declines towards 5491 and 5460. Key Levels: Pivot Line: 5550 - 5525 Resistance Levels: 5590, 5620, 5645 Support Levels: 5491, 5460, 5440 Today's Expected Trading Range: Today's trading range is anticipated to be between the resistance at 5635 and the support at 5460. NFP Scenarios: - Previous Result: 272K - Expectation: 191K If the NFP release is less than 191K, the indices are likely to follow a bullish scenario. Conversely, a result exceeding 191K, particularly around 250K, would likely lead to a bearish scenario. In summary, the market's direction hinges on the NFP results and critical price levels. Monitoring these key levels and the NFP report will be crucial for navigating the S&P 500's volatility.
OANDA:SPX500USD
by SroshMayi
S&P500 Shifted to new bullish pattern. 5750 next.The S&P500 index (SPX) made a major bullish break-out in accordance to our previous analysis (June 17, see chart below), where we clearly stated that a break above the 1.5-year (Fibonacci) Channel Up pattern it would indicate a transition to a new (blue) Channel Up: As you can see that happened and the index is extending that blue Channel, with the long-term prevailing pattern now being the dashed Channel Up. Technically it appears that the price is rising straight after finishing a Cup consolidation structure that is no stranger to it as we've seen it another two times, always leading in the end either to a 2.383 Fibonacci extension target or around +30% rise from the top. On the current Bullish Leg, the 2.382 Fibonacci extension comes much lower than a potential +30% rise from the April 19 bottom, so as mentioned on our previous analysis, we will be targeting (this time slightly lower) at 5750. If the 2.382 Fib breaks and we close a 1W candle above it, we will extend buying all the way to +30%, i.e. just above 6300. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500Long
by TradingShot
1
2024-07-03 - priceactiontds - daily update - sp500Good Evening and I hope you are well. overall market comment Indexes - SP500 and Nasdaq outdid themselves today again. You still can’t convince me this is another breakout above. SP500 is still marginally higher and it’s a trading range at the highs. Nasdaq broke above the bull wedge and channel and I absolutely expect it to fail over the next 1-5 days and trade down below 20000. Commodities - Gold had a huge bull break above previous support and above the upper triangle line. The pullback tested that line and market held above. If bulls confirm this tomorrow, we will see 2400 and probably higher again. Oil printed a lower high below 84 but bears would need strong selling from here on and a lower low below 82 to confirm it. Oil could trade more sideways before another breakout to either side. Bitcoin continued perfectly inside the bear trend and dropped below 60000 again. Bulls might try one more time to get above 62000 but if this one fails, decent chance we will test 50000 next. It’s a strong sell the rip market and you should not look to buy. sp500 e-mini futures comment: Strong follow through for the bulls since bears could not keep it below 5580. Made a new ath but still not above 5600. Bulls were strong enough that we can expect 5600 to print at least once. Can they get another push up? I have no idea. Still inside the margins of this trading range at the top but I won’t rule out that we can’t print 5650 or higher. Today’s data was really bad but market did not care. No reason why it should turn around tomorrow on low volume or on a Friday. I won’t get tired writing it. If you are bullish at this stage of this bull cycle, no one can help you. Not saying you should not get long on days like today but your long term longs should have a tight stops. Once the euphoria vanishes, it will go down fast when everyone will look for the exit. It’s as unsustainable as it gets. current market cycle: Max bullishness & peak bubble territory. Literally the peakiest of the peaks. Mother of all bubbles. Will end over the next weeks. —unchanged key levels: 5560 - 5600 bull case: Bulls want to keep the party going and if they can stay above the 1h 20ema, they could do another leg up. No deeper reasoning here. If big green bars appear again, buy. Invalidation is below 5560. bear case: No idea if bears step aside for another leg. Can see this turning here after more sideways movement. I would not expect big swings on a US holiday tomorrow. Invalidation is above 5610. short term: Neutral af again. At multiple resistances I won’t do anything. Will look for longs on strong buying near the 1h ema or the lower bull wedge line. If bears appear, need a break of both mentioned before shorting. medium-long term: Bearish. We will see 5000 over the next weeks again and 4600 over the next 12 months. Will update this time and price wise over the weekend but I expect to at least see 5000 over the next months in 2024. —updated weeks to months. current swing trade: None trade of the day: Buy anything. 5m 20ema was your guide today. Could have literally bought any touch.
CME_MINI:MES1!
by priceactiontds
FewEveryone senses there is something coming, but nobody knows what it is. Regardless the markets will correct massively, technically because we haven't had a 0.61 fib correction in a decade, secondly because the bags are too heavy and everyone is bagholding, we need to shake those who call themselves diamond hands at +50% price discounts, i.e. cheaper prices. Capital is excessively cheap, Attention is overpriced. Manual Labor is underpriced we are living in a bubble state, some call it 'the everything bubble'. Call me bubble boy, chicken little, i don't care. A Nuke is coming.
OANDA:SPX500USDShort
by MarketsCreator
1
S&P 500: Navigating Volatility with Key Price levels & ScenariosS&P 500 Analysis: Navigating Volatility with Key Price Levels and Scenarios Stability under the pivot line which is 5525 means there will be a bearish trend toward 5491, but still has a bullish volume to get 5549. so above it means will start a new all-time high Bullish Scenario: Stability above 5525 means it will reach 5550 and should be stabilized above 5550 to continue the bullish trend around 5600. Bearish Scenario: Stability under 5525 means will drop to get 5510 and 5491, and ADP will affect on the market today and it's possible to get 5460 as well, by closing 4h candle under 5491 Key Levels: - Pivot Line: 5525 - Resistance Levels: 5550, 5585, 5620 - Support Levels: 5491, 5460, 5440 Today's Expected Trading Range: The anticipated trading range for today is between the resistance at 5550 and the support at 5491.
OANDA:SPX500USDShort
by SroshMayi
Is this a wedge I see before me?I have noticed that the rally since 2022 lows is forming itself into a decent rising wedge pattern on the SPX. There is also a small RSI divergence in place that has since migrated to the hourly time frames. This could be indicative. There is also a disappointing looking NFP report in the pipeline this week. I have no active trade, and I will not take a position on this until it confirms (likely to be later in the month if it does confirm) however, I believe that the pattern here which has 3 touchpoints at resistance and 3 touchpoints at support (suggesting the pattern is well defined) warrants attention from traders. Watch out and trade safe!
SP:SPXShort
by RogueEconomics
SPx / Strong Pivot Line at 5460 Key to Navigating VolatilityS&P 500 Analysis: Navigating Volatility with Key Price Levels and Scenarios The price has reached the support line at 5460 and is now experiencing bullish volume towards 5491. However, consolidation is expected between 5460 and 5491 until a breakout occurs. Intraday Analysis: The price is likely to consolidate between 5460 and 5491 until a decisive break in either direction. Bullish Scenario: Stability above 5460 suggests a move towards 5491. For the bullish trend to continue, the price must stabilize above 5491. Bearish Scenario: If the price remains below 5460, it is expected to decline towards 5440. A break below 5440 would signal a further bearish trend, potentially reaching 5410. Key Levels: - Pivot Line: 5460 - Resistance Levels: 5491, 5525, 5550 - Support Levels: 5440, 5410, 5375 Today's Expected Trading Range: The anticipated trading range for today is between the resistance at 5505 and the support at 5410.
OANDA:SPX500USD
by SroshMayi