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SPX (S&P 500 Index)

CPI Report in Focus: Futures Steady, Key Levels to WatchFutures Steady Ahead of Key Inflation Report The price has pushed up and reached our target successfully, with momentum still aiming for 5,460 and 5,491. Today’s CPI report is expected to significantly impact market movements. Bullish Scenario: The price is likely to attempt reaching 5,460, with further movement depending on the CPI result. If the CPI comes in below 3.00%, this could drive the price higher. Bearish Scenario: A CPI reading of 3.00% or higher could trigger a decline, with the price potentially falling to 5,409 and 5,372. Key Levels: - Pivot Line: 5,460 - Resistance Levels: 5491, 5539, 5584 - Support Levels: 5409, 5,72, 5320 Today's Expected Trading Range: The price is anticipated to fluctuate between 5,372 and 5,491. previous idea:
OANDA:SPX500USDShort
by SroshMayi
Hellena | SPX500 (4H): Long to resistance area 5407.Colleagues, the price has moved down a lot, but that means we have an opportunity to enter a long position more favorably. I still believe that price is still in an upward move of great impulse, and now there is a complex correction taking place. I expect an uptrend to begin around the 5172 area. The first expected target is in the 5407 area. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
OANDA:SPX500USDLong
by Hellena_Trade
2
Elliott Wave Intraday Analysis: SPX Resumed the RallyShort Term Elliott Wave View in SPX suggests the trend should continue higher within the sequence started from March 2023 low as the part of daily sequence. It favors upside in wave ((5)) while dips remain above 5124.76 low. Since March 2024 high of (3), it starts a correction as wave (4) ending in April at 4953.56 low and bounced again. The market resumed the rally building an impulse as wave (5) ended at 5669.67 high and also wave ((3)) in higher degree. SPX begins a large retracement in July 16 high. Down from wave ((3)), the index dropped developing a double correction structure. First leg lower, built a zig zag correction to complete a wave (W) at 5390.95 low. Then, the market did a flat structure higher as wave (X) ended at 5566.16 high. The index resumed to the downside forming another zig zag as wave (Y) of ((4)). The cycle was completed at 5119.26 low and also wave ((4)). Actually, SPX has continued higher trading in wave (1) of ((5)). The wave 1 of (1) ended at 5330.64 high and wave 2 of (1) finished at 5195.54 low. The wave 3 of (1) started and we are expecting more upside. While price action stays above 5119.26 low, we are calling for more upside to continue the rally as wave ((5)).
SP:SPX
by Elliottwave-Forecast
2
SPx Maintains Bullish Trend After Successful Retest, Targets5412S&P 500 Maintains Bullish Trend After Successful Retest, Targets 5412 The S&P 500 (SPX) has stabilized within a bullish trend by holding above 5,327, targeting 5,363 and 5,412 soon, especially after the successful retest it completed yesterday. The current volatility and technical indicators continue to suggest bullish momentum. Bullish Scenario: As long as the price trades above 5356, it will support a bullish trend toward 5412 Bearish Scenario: the price should drop to stabilize under 5327 to be downtrend toward 5260 Key Levels: - Pivot Line: 5356 - Resistance Levels: 5412, 5450, 5525 - Support Levels: 5327, 5260, 5214 Today's Expected Trading Range: The price is anticipated to fluctuate between 5291 and 5412. Direction: looks bullish above 5327
OANDA:SPX500USDLong
by SroshMayi
S&P bulls return in the game; still some work to doLast week, buyers regained control on the daily timeframe, filling the gap from Monday, August 5th, and closing the week at the high. While this was a strong display of power, I would approach it with caution for the following reasons: 1. The market is currently in a weekly consolidation phase. We've already seen how strongly the bears defend their control on the weekly timeframe (as evidenced by the last week of July), so this should not be disregarded. 2. The magnitude of Wednesday’s bearish candle demonstrates how easily the bears can move the price when they feel weakness 3. While all major sectors closed week green, none has managed to close above previous week high. Most of them are in a weekly consolidation, which signifies genuine market weakness. To sum it up, while it's highly likely that the bulls will be able to confirm a weekly low ( 510.3 ) in the next days, it's uncertain whether they will be able to maintain their position for long. I would definitely wait to see the week’s close before considering a “buy.” Ideally, the bulls should fill the gap from Friday, August 2nd, and establish some value above 534 . If this doesn't happen and we see a strong price rejection, it would confirm bearish control. The upcoming week is packed with economic data, which could fuel momentum for either side.
AMEX:SPY
by hermes_trisme
Bullish Momentum in S&P 500 as Market Stabilizes Above 5327Bullish Momentum in S&P 500 as Market Stabilizes Above 5327 The S&P 500 (SPX) has stabilized within a bullish trend by stabilizing above 5327, targeting 5363 and 5412 soon. The current volatility and technical indicators suggest bullish momentum. Bullish Scenario: As long as the price trades above 5327 will support a bullish trend toward 5412 Bearish Scenario: the price should drop to stabilize under 5327 to be downtrend toward 5260 Key Levels: - Pivot Line: 5327 - Resistance Levels: 5365, 5412, 5450 - Support Levels: 5291, 5260, 5214 Today's Expected Trading Range: The price is anticipated to fluctuate between 5291 and 5412. Direction : looks bullish above 5327
OANDA:SPX500USDLong
by SroshMayi
NVDIA BULLS! DON'T FART TOO LOUDLY. IT'S TOO STUFFYhe AI boom is reaching the sort of lofty heights that characterised history’s great bubbles, from the Dutch tulip mania to the dotcom bust at the turn of the millennium. Investors have now determined that Nvidia alone is worth more than the entire annual output of Spain. Add in the tech companies expected to profit most from the AI revolution — Nvidia along with Amazon, Apple, Alphabet, Meta, Tesla, and Microsoft — and the so-called Magnificent Seven are together valued at more than the stock markets of every other country on the planet. The American stock market’s spectacular performance over the last year, up more than a fifth, has been driven almost entirely by these seven companies. We’ve been here before, many times. New technologies often produce bubbles — railways in the 19th century, automobiles and radios in the 1920s, the internet in the 1990s and now the AI boom, which was triggered by Open AI’s launch of ChatGPT late in 2022. Driving any bubble is the same conviction that the new technology will revolutionise the economy, combined with the fact that nobody can be sure just how it will do that. So narratives of transformation become self-sustaining, as the stock’s rise draws in ever more investors eager to join the ride, creating a self-propelling upward cycle. In time, all bubbles burst, earlier or later.
NASDAQ:NVDA
by Pandorra
Weekly Recap & Market Forecast $SPX (Aug 11th—> Aug 16th)**DIYWallST Weekly Recap & Market Forecast** --- Hello Investors! 🌟 This week began with a flash of panic reminiscent of 1987’s Black Monday, but by week’s end, markets had regained some stability. Let’s explore the key events that shaped this volatile week in the markets. 📈 **Market Overview:** Trading opened with a sense of deja vu as investors confronted fears of a "Black Monday" scenario. A mix of factors—including fears of a forced unwind of the Japanese Yen carry trade and growing concerns that the Fed is behind the curve—triggered a full-blown panic in global financial markets. The VIX skyrocketed nearly 165% to $65, and the Nikkei plunged about 15% on Monday. Warren Buffett’s decision to sell half his Apple stake and raise cash further rattled investors. Safe-haven flows surged into Treasuries, sending yields plummeting, while the Yen and Swiss Franc strengthened. Nearly all other asset classes, including gold and bitcoin, faced significant pressure as investors rushed to raise cash. The US yield curve briefly tested positive territory in the 2-10 year spread for the first time in about two years, and S&P futures tested the 200-day moving average. Fed fund futures markets quickly began pricing in a potential 50 basis point rate cut in September. However, by the time the New York markets opened on Monday, the VIX had already pulled back from its pre-market highs, and stocks began to recover some losses. The NASDAQ composite tested but ultimately held its 200-day moving average. Treasury yields began to rise again, and the yield curve re-inverted. By midweek, fears surrounding the Yen carry trade had eased after a BOJ official indicated they would not continue raising rates during market instability. The whipsaw recovery continued after a stronger-than-expected weekly US initial jobless claims report, which fueled debate on whether the market had found a bottom. The US 10-year yield climbed back to 4% after disappointing 10-year and 30-year coupon sales. Oil prices rose again as markets awaited Iran's response to the assassination in Tehran last week. By the end of a turbulent week, the S&P slipped less than 0.1%, the DJIA shed 0.6%, and the Nasdaq fell 0.2%. **Stock Market Performance:** - 📉 S&P 500: Down by less than 0.1% - 📉 Dow Jones: Down by 0.6% - 📉 NASDAQ: Down by 0.2% **Economic Indicators:** - **VIX:** Skyrocketed nearly 165% to 65, reflecting heightened market volatility. - **US Yield Curve:** Briefly tested positive territory in the 2-10 year spread before re-inverting. - **US Initial Jobless Claims:** Came in stronger than expected, fueling optimism about the labor market and contributing to the market's recovery. - **Treasury Yields:** The US 10-year yield climbed back to 4% by week’s end after disappointing Treasury sales. - **Oil Prices:** Continued to rise amid ongoing tensions between Israel and Iran. **Corporate News:** - **Nvidia:** Faced headwinds after reports suggested the launch of its cutting-edge Blackwell chip would be delayed by a few months due to design issues. This was confirmed by Nvidia supplier SuperMicro during its earnings call, where they reported strong revenue but weakening margins, sending their shares sharply lower. - **AI Trade:** Continued to unwind as questions lingered about the immediate impact of AI on the broader economy. - **Disney:** Beat earnings expectations and raised guidance despite acknowledging economic uncertainty’s impact on consumers. The company also announced price hikes for its streaming services. - **Airbnb and Hilton:** Both guided lower as vacationers tightened their belts ahead of a potential recession, signaling a challenging environment for the travel industry. - **Lyft:** Reported its first-ever profitable quarter but missed estimates and provided weak guidance, contrasting with rival Uber, which reported more robust results. **Looking Ahead:** This week will bring several key economic data releases and earnings reports: - **U.S. CPI Data** - **U.S. PPI Data** - **U.S. Retail Sales** - **Earnings Reports:** Walmart ( NYSE:WMT ), Home Depot ( NYSE:HD ), Cisco ( NASDAQ:CSCO ), Alibaba ( NYSE:BABA ) - **13F Filings:** Expect insights into the latest moves by major investors. As we look ahead, these developments will be crucial in shaping market sentiment and guiding investment decisions. If you have any questions or need further insights, feel free to reach out. Here’s to another week of informed investing and strategic decision-making! 🌟
TVC:DXYShort
by WallSt007
fakeout into a shakeoutgood eve' over the last 4 weeks the es1! has seen a bit of a shakeout which has scared a lot of people out of the market. whenever these things happen, i always wonder what it is that they're afraid of? --- the es1! completed 5 waves up on a weekly timeframe from the 2023 low which we predicted, to the 2024 top which we did not pinpoint this time around. i'm predicting we sweep the high 1-2 more times into the fed pivot, before dropping very aggressively into the presidential election. --- if all goes well, the timeline will look like this: > we pop to sweep the high into the "fed pivot" > we drop -20% into the presidential election. > the presidential election turns out to be favorable for the market: > next bull run begins. --- i'm not your financial advisor, in fact - i'm not telling you to be a buyer nor a seller. just sharing my interpretation of the chart in front of me. do with this information what you will. 🌙
CME_MINI:ES1!
by notoriousbids
2
#202433 - priceactiontds - weekly update - sp500 e-mini futuresGood Evening and I hope you are well. tl;dr sp500: Last weeks update is still worth reading because it was so on point and most prices given are still valid. Bears need to keep it below 5400/5450 and bulls want above so the bulls would have retraced much more than the 50% they currently have. Also neutral going into next week. Quote from last week: bear case: Bears made it clear that this bull trend is over with another huge bull trap. Right now the channel down looks decent enough if we ignore Friday’s tail. Bears could force another drop to 5300 early next week but I think a bounce and more sideways is more reasonable to expect. I am very confident in loading up on shorts on the next pullback and hold until we hit 5000/5100, which will likely happen over the next weeks/months. comment: Market got to 5100 way faster than I expected but it was climactic selling and a pullback was expected. Not much difference in reasoning compared to dax and the same would apply to the nasdaq. Market is trying to find the big sellers again and we are probing higher. We will most likely hit the daily 20ema soon, which is around 5440 and that is also around the July low and therefore a breakout retest. After the 2 bull bars from Thursday & Friday, I do think the odds of disappointment for the bulls is greater than another bull bar on Monday. current market cycle: Bear trend started with the drop from 5600 down to 5119. The second leg will bring us to or below 5000, where I expect much more sideways movement again. That big round number will probably be fought over for the next weeks until more bad news come around or earnings Q3 will show clear deterioration. key levels: 5000-5500 bull case: Bulls already recovered a bit more than 50% of the 480 point sell off and if they get above 5450, the chances of a bear trap and not a bear trend, are bigger than a continuation of the selling. Bulls want exactly that and Monday/Tuesday will be key for the next impulse. A daily close above the 20ema would also turn the momentum in favor of the bulls again. Their target is 5430 and then a daily close above the daily ema. Invalidation is below 5300. bear case: Bears need to step in and keep the market below 5430. That’s it. If they get strong selling again on Monday, I do think that below 5300 most bulls will cover and we see a retest of 5200 and lower. Bears still see this as a pullback in a bear trend and 50-60% is a normal retracement. Invalidation is above 5430. outlook last week: short term : Full bear mode. Pullback is expected and I will load up on shorts. This will go much lower in 2024. → Last Sunday we traded 5376 and now we are at 5370. Market sold off to 5119 so my read was perfect. Down there I wrote “you can’t get bearish at these lows” and the pullback was expected and written of. Hope you made some. short term: Full bear mode if we stay below the daily ema. Retest of the lows is higher probability than breaking above the daily ema. I gave clear key levels, mark them and watch what the market does when it gets there. medium-long term: Same as dax. Want to see a break of this bear flag before I calculate new targets and draw a better channel. We will likely see 5000 before end of October. current swing trade: None. Will load again on shorts on Monday/Tuesday if bears appear again. chart update: Added second bear gap, adjusted the possible bear channel and removed all broken bull trend lines.
CME_MINI:MES1!
by priceactiontds
SPX are we bullish or bearish? The S&P 500 closed the weekly firmly. Finally putting in a high volume reversal, has the SPX bottomed here? One thing is for sure we are still putting in higher highs & higher lows on the weekly time frame. Until we see the markets give us that lower weekly high its still a tough market to short. We think about the decline in semis and megacaps after earnings...all eyes will be on NvDA near end of month. The markets have a strong chance at staying buoyamt into NVDA earnings.
SP:SPX
by Trading-Capital
SPX 5600 BY FALL 2024 ?SP:SPX Economic Resilience: Despite various challenges, the U.S. economy has shown remarkable resilience. If this trend continues, it could support higher stock prices. Normalization of Interest Rates: The Federal Reserve’s normalization of interest rates, rather than aggressive tightening, could create a favorable environment for equities. If inflation continues to fall closer to the Fed’s 2% target, it might only require modest rate cuts. Consumer Spending Power: Consumers have maintained strong purchasing power, supported by high job security and a robust labor market. This continued consumption can drive corporate earnings higher. Big Tech Leadership: Big Tech companies have consistently delivered strong earnings and have been a significant driver of the S&P 500’s performance. Their growth prospects, particularly in areas like AI, remain strong. Earnings Growth: Analysts project solid earnings growth for the S&P 500, with estimates suggesting a significant increase in earnings per share (EPS) for 2024. Valuation Multiples: The valuation multiples for Big Tech and other sectors are seen as reasonable given their growth prospects. This supports higher price targets for the index. Historical Trends: Historical performance patterns, especially in presidential election years, suggest that the S&P 500 could see gains.
SP:SPXLong
by NYRUNSGLOBAL