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S&P 500 (SPX500)

SPY/QQQ Plan Your Trade 7-31 Morning UpdateThis video highlights the morning Gap and what to expect before price settles and attempts to move above $553-555 today. I fully expect the Vortex Rally to move price higher over the next few weeks/months. But, today is going o be critical to see if Price can attempt to move above the recent resistance area near $554-555. If price moves up to that level and rejects (downward) - I would still consider that a positive price reaction to the recent selling pressure. So, today and tomorrow are going to be very important related to Fibonacci Price Theory and watch to see if price CAN attempt to move to new Unique/Ultimate highs. So far, the Gap higher (to a new Unique high) is a very positive move. One of my friends wrote to me this morning saying his "lotto" call options (purchased yesterday near the close) resulted in a 1400% gain this morning. Love this. I love seeing traders use my tools/research and attempt to better their skills. That is a big Lotto Win for cheap $9 call options on the SPY. Let's see how it plays out today. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
SPY/QQQ Plan Your Trade For 7-31 : Counter-Trend Base RallyFirst, I got up a bit late this morning. Been pushing really hard over the last few weeks. I guess I needed the rest. Next, this video is very important for ALL TRADERS. I want all of you to learn the proper skills to manage your trading, risk controls, and emotional aspects of trading, and really learn the skills to MAKE YOUR OWN DECISIONS. I know you may never fully master these, but knowing how to use these tools and how they can help you is very important. I'll keep this short, we are likely going to see a rally to to $553-555 in the SPY, then watch the price roll downward later in the day. Go Get Some #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
SPX500. Where to look for purchases and sales.Hello traders and investors! Let's analyze the SPX500. Weekly Timeframe Analysis: A buyer's impulse has formed on the weekly TF with an impulse base of $5193.1. The seller performed well, showing a good spread and volume. Key impulse candle from 06/10/24 (candle with the highest volume in the impulse, “KC” on the chart), its close is slightly below 50% of the impulse. I assume that the seller will lower the price to the key candle, where it will be necessary to evaluate the buyer’s actions to search for purchases. Daily Timeframe Analysis: On the daily timeframe, the seller broke through the bottom of the buyer's last impulse ($5577.4). The seller's impulse is not over yet, since there has not been a buyer's candle yet. The base of the seller's momentum is $5680.4. While the seller is protecting the $5577.4 level, it is advisable to look for sales. 2H Timeframe Analysis: On the 2-hour time frame, the price formed a sideways movement (the lower border of the sideways movement is $5577.4). Then the seller broke through the lower border of the sideways movement and launched a short trend. The base of the seller's last impulse is $5568. 50% of the seller's last impulse – $5536.1. On the 8-hour timeframe and the 4-hour timeframe, the price situation is similar to the 2-hour timeframe. The initial level of the seller's last impulse is $5568. 50% of the seller's last impulse – $5536.1. Thus, in the range of $5577.4 - $5568 there is a context for searching for sales on the daily, 8-hour, 4-hour and 2-hour timeframes . Selling Strategy: Seller protection levels $5577.4 or $5568. Seller protection 50% of last impulse - $5536.1 Buying Strategy: When the price reaches the range of $5328 - $5436, look for patterns for purchases. If the buyer returns the price above $5577.4 and protects this level.
OANDA:SPX500USD
by AlexeyWolf
SPx Amid Focus on Fed Decision, ADP Jobs Report, & Meta Earning Stock Index Futures Rise as Focus Shifts to Fed, U.S. ADP Jobs Report, and Meta Earnings S&P 500 Analysis: Consolidation Expected Today The market is poised for potential volatility as traders await the Federal Reserve's rate decision, the U.S. ADP jobs report, and Meta's earnings. The S&P 500 is expected to consolidate today, with key movements influenced by these events. Bullish Scenario: If the price remains stable above 5,491, it is likely to reach 5,512. Breaking above this level could push the price further to 5,549. Bearish Scenario: A reversal and stabilization below 5,491 could lead to a decline towards 5,460. Key Levels: - Pivot Line: 5,491 - Resistance Levels: 5,512, 5,525, 5,549 - Support Levels: 5,460, 5,438, 5,409 Today's Expected Trading Range: The price is anticipated to fluctuate between the support level at 5,460 and the resistance level at 5,550.
OANDA:SPX500USDLong
by SroshMayi
S&P 500 Daily Chart Analysis For Week of July 26, 2024Technical Analysis and Outlook: The S&P 500 Index, also known as Spooz, demonstrated a significant downward trend, as analysed in the Weekly Chart for July 19. It reached the anticipated Mean Support level at 5449 and Key Support at 5420. There is an expectation of a swift recovery after reaching these levels, propelling the price toward the designated Mean Resistance target at 5567. Nonetheless, the prevailing price action indicates a sustained primary decline toward the Key Sup 5350 and Inner Index Dip of 5345 in the forthcoming week/week's trading sessions. It is acknowledged that these achieved targets will exert pressure for a robust rebound.
SP:SPX
by TradeSelecter
SPX500. The Leap paper trading competitionHi traders and investors! In the previous idea, I analyzed the weekly and daily TF to find price zones for sales and purchases. In terms of sales, the idea worked. In terms of purchases, the pattern has not yet formed. It's time to update analysis. Daily Timeframe Analysis: There is a short trend on the daily TF. The last impulse of the seller is from the level of $5594.4. The key impulse candle is located at the bottom of the impulse (the candle with the highest volume, marked on the chart "KC") This is the daily candle from 07/25 and is the one with the highest volume over the last 3 months. What is interesting is that most of the body of the candle is below 50% of the last buyer impulse on the weekly TF (see the related idea, where there is an analysis of the weekly TF). Hourly Timeframe Analysis: On the hourly timeframe there were more than 3 price touches of 50% of the seller’s last impulse on the daily timeframe; the seller failed to update the minimum, which may indicate the seller’s weakness. Selling opportunities: There is a high probability that the buyer will reach $5504.1 (the minimum of the seller’s previous impulse on the daily timeframe) and $5511 (50% of the seller’s last impulse on the hourly timeframe), where I will watch the seller’s reaction to look for sales. Buying opportunities: It is advisable to search for purchases when the price returns above $5504 and the buyer protects this level. On a 30-minute time frame, this will mean an upward exit from the sideways trend and the protection of this exit by the buyer.
OANDA:SPX500USD
by AlexeyWolf
Geomarkets & Crypto (the before)Top Left: Crypto Total Market Cap ( CRYPTOCAP:TOTAL TOTAL) Timeframe: Weekly (1W) Technical Indicators: - Fibonacci retracement levels are visible, indicating key support and resistance zones. - The RSI (Relative Strength Index) indicator is at the bottom, showing momentum. Observations : - The total crypto market cap appears to be consolidating after a significant move. - It is trading between two Fibonacci levels, suggesting it may be at a critical point for either a breakout or breakdown. - The RSI is hovering around the neutral zone, which could indicate a lack of strong momentum either way. Strategy : - Pending Orders: Consider setting a pending buy order slightly above the current resistance level if you anticipate a breakout, with a stop loss just below the support level. - Alternatively: Set a pending sell order below the support level if you expect a breakdown, with a stop loss just above the resistance level. Top Right: Bitcoin / US Dollar ( BITSTAMP:BTCUSD BTCUSD) Timeframe: Weekly (1W) Technical Indicators: - Fibonacci extensions and retracement levels are marked, which can be used to predict future price targets or identify reversal points. - There are also trend channels drawn, indicating a potential range in which the price is trading. - The RSI is included, showing the momentum of Bitcoin. Observations : - Bitcoin is trading near a key Fibonacci extension level, suggesting it could face resistance. - The price is moving within a well-defined upward channel, but it's currently near the upper boundary, indicating potential overextension. - RSI indicates that momentum is high but not yet in overbought territory, suggesting there could be room for further gains or a potential correction. Strategy : - Pending Orders: You could place a sell order near the upper boundary of the channel if you anticipate a pullback, with a stop loss just above the recent high. - Alternatively: Place a buy order above the resistance level if you expect a breakout, with a stop loss within the channel to manage risk. - Immediate Action: If you’re aggressive and believe in the bullish trend continuation, a small buy order now with a tight stop loss could be justified, aiming for the upper Fibonacci extension levels. Bottom Left: US Dollar Index ( TVC:DXY DXY) Timeframe: Weekly (1W) Technical Indicators: - The chart shows horizontal support and resistance levels, likely based on historical price action or Fibonacci retracement levels. - RSI is also present, indicating the relative strength of the US dollar. Observations : - The US Dollar Index appears to be trading in a range, with clear support and resistance levels marked. - The RSI is in a neutral zone, suggesting no extreme overbought or oversold conditions. - The index seems to be in a consolidation phase, with potential for a breakout or breakdown depending on macroeconomic factors. Strategy : - Pending Orders: Set a buy order near the lower support level if you expect the dollar to rebound, with a stop loss below the support. - Alternatively: Place a sell order near the upper resistance level if you anticipate a rejection, with a stop loss just above the resistance. Bottom Right: S&P 500 Index ( FX:SPX500 SPX) Timeframe: Weekly (1W) Technical Indicators: - Fibonacci extensions and retracement levels are drawn, with channels indicating potential trading ranges. - The RSI is included to show the momentum of the index. Observations : - The S&P 500 appears to be in a strong upward trend, currently near a Fibonacci extension level. - The price is within a defined upward channel, suggesting a consistent trend higher. - RSI is near the upper range, indicating strong momentum but also hinting at the possibility of overbought conditions. Strategy : - Pending Orders: You could place a sell order near the resistance level if you expect a correction, with a stop loss just above the resistance. - Alternatively: Set a buy order above the resistance level if you expect the trend to continue, with a stop loss just below the breakout point. - Immediate Action: If you believe in the strength of the current uptrend, a small buy position now might be appropriate, but with a tight stop to protect against potential reversals. Deciding whether to place orders now or set pending orders depends on your trading strategy, risk tolerance, and market outlook. Here’s a strategy approach based on the charts: 1. Crypto Total Market Cap (TOTAL) Current Situation: The market is consolidating between Fibonacci levels, indicating uncertainty. Strategy: - Pending Orders: Consider setting a pending buy order slightly above the current resistance level if you anticipate a breakout, with a stop loss just below the support level. - Alternatively: Set a pending sell order below the support level if you expect a breakdown, with a stop loss just above the resistance level. 2. Bitcoin / US Dollar (BTCUSD) Current Situation: Bitcoin is near a key resistance within an upward channel. Strategy: - Pending Orders: You could place a sell order near the upper boundary of the channel if you anticipate a pullback, with a stop loss just above the recent high. - Alternatively: Place a buy order above the resistance level if you expect a breakout, with a stop loss within the channel to manage risk. - Immediate Action: If you’re aggressive and believe in the bullish trend continuation, a small buy order now with a tight stop loss could be justified, aiming for the upper Fibonacci extension levels. 3. US Dollar Index (DXY) Current Situation: DXY is consolidating within a defined range. Strategy: - Pending Orders: Set a buy order near the lower support level if you expect the dollar to rebound, with a stop loss below the support. - Alternatively: Place a sell order near the upper resistance level if you anticipate a rejection, with a stop loss just above the resistance. 4. S&P 500 Index (SPX) Current Situation: The S&P 500 is in a strong uptrend but close to resistance. Strategy: - Pending Orders: You could place a sell order near the resistance level if you expect a correction, with a stop loss just above the resistance. - Alternatively: Set a buy order above the resistance level if you expect the trend to continue, with a stop loss just below the breakout point. - Immediate Action: If you believe in the strength of the current uptrend, a small buy position now might be appropriate, but with a tight stop to protect against potential reversals. Key Considerations: - Risk Management: Always use stop losses to protect against unexpected market moves. - Market Conditions: Keep an eye on broader economic data or events that could impact these assets (e.g., interest rate decisions, geopolitical events). - Diversification: If you’re considering multiple positions, ensure they are diversified to manage risk better. - Capital Allocation: Only commit a portion of your capital to any single position to maintain liquidity and flexibility. If you are cautious, setting pending orders with clear triggers and defined risk parameters might be the best approach, allowing the market to come to you rather than chasing it.
BITSTAMP:BTCUSD
by armigoldman
SPY/QQQ Plan Your Trade 7-30 - Pop Pattern Disrupted By NewsToday's POP pattern, which I suggested would present a very solid Bullish trending opportunity, was disrupted by news of Israeli attacks in Lebanon. I truly believe today would have resulted in a very strong reversion rally had the markets no been disrupted by the new conflict. Still, we need to play the markets and not rely exclusively on my SPY Cycle Patterns. In this video, you'll see me go over a number of symbols (SPY/QQQ/Gold/Crude Oil, others) and show you some of the new tools I've been working on to help traders stay on the right side of market trends. I still expect the Vortex Rally to take place over the next 30 to 90+ days - building strength as the US markets trend upward. I believe the conflicts and global economic uncertainty will drive capital into US-Dollar-based assets over the next 12+ months - creating the Vortex Rally. This will also drive hedge instruments higher. As the US markets shift into the preferred safe-haven asset class (again), we should have nearly unlimited opportunities for great trades over the next 12 to 24+ months. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
8
SPY/QQQ Plan Your Trade For 7-30 : Bullish POP PatternToday's POP Pattern in Carryover mode suggests the SPY will attempt to move above $550-551 on moderate bullish trending. I believe the way the patterns are set up, the price will attempt a moderate rally with the POP pattern. Then, move into mild consolidation (downward trending) on tomorrow's Counter-trend Bottom-Rally Start. Then, move into a moderately explosive upward/bullish phase on Thursday/Friday with the BaseRally301 and Breakaway patterns. Overall, I see the SPY/QQQ moving into the new Vortex Rally Phase over the next 30 to 90+ days, which will present incredible opportunities for skilled traders. I'm only trying to predict one week at a time. The last time I did this, I tried to predict three weeks into the future. The more time I include (further out into the future), the more likely my predictions will be incorrect regarding price location/range. So, we will keep this simple - going one week at a time. I hope you guys are benefiting from all my hard work. It took me over 20 years to learn enough to figure out these SPY Cycle Patterns. You guys are getting a taste of them for Free on TradingView. What do you think so far? Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
10
SPX 500's Technical Retreat: Support at 5,290?US SPX 500 – technical overview Longer-term technical studies are in the process of unwinding from overbought levels. There is now room for a pullback towards previous resistance turned support in the form of the previous record high from April around 5,290 before the market considers a run to another record high. R2 5679 – 16 July/Record high – Strong R1 5593 – 23 July high – Medium S1 5398 – 25 July low – Medium S2 5352 – 23 May high – Strong US SPX 500 – fundamental overview Though we have seen a healthy adjustment of investor expectations towards the amount of rate cuts in 2024, the market still hopes policy will end up erring more towards the investor friendly, accommodative side of things. This bet has kept stocks well bid into dips and consistently pushing record highs. Still, if there is a sense the Fed will need to be more sensitive towards erring on the side of higher rates, it could invite a much bigger disruption to stocks. Exclusive FX research from LMAX Group Market Strategist, Joel Kruger
SP:SPX
by BlackBull_Markets
Bitcoin adjusted to market cycleI think something like this make sense? We are at a 1st leg or wave of impulse, that is led by early adapters. 2nd leg up would be BTC outperforming SPX. 3rd wave would be a market chop w/ still some opportunities. 1st wave -> buy when it's cheap (bellow 70k crowd). Then comes rally to 120-150k. Before it becomes too expensive. 2nd and 3rd wave are led by ppl missing on a bandwagon, good returns. No crystal ball, see what happens:) > Driver is the rate cuts and money at money market funds. You can also see how divergence in BTC/SPX graph was the market top for btc.
BITMEX:XBTLong
by citsvar
SPY/QQQ Plan Your Trade EOD 7-29 - Prepare For Tomorrow's POPThis is an end-of-day recap of the Flat/Down SPY Cycle Pattern - which played out perfectly. As I warned, this type of pattern suggests the SPY will stay in a consolidated range and attempt to drift downward throughout the day. This type of pattern presents a very difficult day for day traders. Tomorrow's POP pattern should be very exciting. I'm reading the POP pattern as a Carryover of trending. Because of this, I'm suggesting tomorrow's POP pattern may present a strong rally trend - possibly attempting to move above $554-555 on the SPY. If my research is accurate, tomorrow should be a great day for day traders and present some real opportunities for profits. Hope you are all enjoying my work. Let me know what you think. Get Some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
2
SPY/QQQ Plan Your Trade Update 7/29 - Flat/Down PatternThis mid-day update highlights the SPY Cycle Pattern prediction and how to trade short-price swings as price contests into a sideways channel. The Flat/Down pattern is usually a congesting type of price pattern. Price trends are smaller and traders need to learn to adjust to taking quick profits. These types of days are sometimes difficult for traders who are used to swinging for the fences. Days like today mean "grab profits quickly and try to eliminate risks within the first 10-20 minutes." I highlight this method in the video showing my new MENT Pressure System setups. Pay attention to how the SPY Cycle Patterns seem to be aligning again (after the Kamala-Crush). this is good to see, as we want the SPY/QQQ price to move back in alignment with the SPY Cycle Patterns after the recent disruption. Looks like we may slide into a sideways price trend throughout the rest of the day. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
FX:NAS100Long
by BradMatheny
SPY/QQQ Plan Your Trade For 7-29 : Flat/Down PatternPrepare for a fairly mild day today with the Flat/Down SPY Cycle Pattern. This pattern suggests the SPY will struggle to find any real trend and will stay relatively flat overall with a moderate downward price trend. Watch this video. We are in the early stages of a broader Vortex Rally phase - but price will continue to roll higher and lower through cycles. Today's Flat/Down pattern is not a big concern for me. I'm more focused on the broader Vortex Rally phase and how that will continue throughout 2024 and into 2025. If my research is correct, we are shifting into a new broad price trend that could be explosive. The greatest opportunity of your life is sitting right before you. If you have not been paying attention to my research/work/tools - maybe it's time to start paying closer attention to what I'm saying. The next 3~5+ years should be filled with incredible opportunities for skilled traders. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
SPX500 H1 | Pullback resistance at 61.8% Fibonacci retracementSPX500 is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 5,511.90 which is a pullback resistance that aligns close to the 61.8% Fibonacci retracement level. Stop loss is at 5,562.00 which is a level that sits above the 78.6% Fibonacci retracement level and an overlap resistance. Take profit is at 5,446.83 which is a pullback support level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:SPX500Short
by FXCM
Hellena | SPX500 (4H): Long to resistance area 5684. Dear Colleagues, I believe that the price will still continue its upward movement. I believe that we are witnessing the development of a five-wave impulse and very soon the price will start moving in wave “5”. I expect that the price will either start its upward movement immediately or after a deeper correction to the area of 5477. After that I expect to reach the resistance area of 5684. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
OANDA:SPX500USDLong
by Hellena_Trade
4
Weekly Recap & Market Forecast $SPX (July 28th —>Aug 2nd)**DIYWallST Weekly Recap & Market Forecast** --- Hello Investors! 🌟 This week was marked by significant economic and political developments, driving volatility in global stock markets. Let’s dive into the key events that shaped the financial landscape. 📈 **Market Overview:** The week began with a surprise rate cut by China’s PBOC, but this was quickly overshadowed by President Biden’s announcement that he was dropping out of the race. The Democratic Party swiftly rallied around Kamala Harris, with endorsements pouring in from state governors and, ultimately, the Obamas. By the end of the week, Harris appeared to have secured the nomination. The political developments contributed to a 'Trump-trade' sentiment, with small-cap value stocks continuing to outperform mega-cap technology shares. The cool June CPI and subsequent soft data points have also fueled expectations of Fed rate cuts later this year, underpinning this market rotation. The US yield curve steepened notably, with the 2-10 year spread popping above -15 bps, while the VIX rose sharply through Thursday. A letter from former NY Fed President Dudley may have increased investors’ expectations for a Fed rate cut. The Bank of Canada cut rates for the second straight meeting, while global PMI readings indicated some softening, particularly outside the services sector. Pulte’s home orders fell short of analyst expectations, and June existing home sales missed targets despite rising supply levels. Richmond Fed data was weak, and several major industrial and chemical companies cut their outlooks. June PCE data indicated “further progress” for the Fed, echoing concerns about discretionary spending and a softening consumer pushing back against price hikes. **Stock Market Performance:** - 📉 S&P 500: Down by 0.8% - 📈 Dow Jones: Up by 0.8% - 📉 NASDAQ: Down by 2.1% - 📈 Russell 2000: Up by 3.3% **Economic Indicators:** - **US Yield Curve:** Steepened significantly with the 2-10 year spread popping above -15 bps. - **June Existing Home Sales:** Missed expectations despite rising supply levels. - **Richmond Fed Data:** Indicated economic weakness. - **June PCE Data:** Showed progress in cooling inflation. - **Bitcoin Prices:** Climbed ~5% ahead of Former President Trump’s appearance at a crypto conference. - **Dollar and Yen:** The dollar remained steady, while the Yen rose amid speculation of a potential BOJ rate hike. **Corporate News:** - **Google and Tesla:** Earnings reports did little to curtail volatility. Tesla missed estimates and Google’s YouTube ad revenues fell short, leading to a decline in AI enthusiasm as Google's AI monetization efforts didn't meet investor expectations. - **Ford Motor:** Shares tumbled after a significant earnings miss, with the company continuing to lose money on each EV it produces. - **3M:** Shares surged after posting a big earnings beat, despite noting softness in consumer discretionary demand and mixed industrial end markets. **Looking Ahead:** Next week will feature several key events: - **Fed Rate Decision** - **Powell Press Conference** - **U.S. Jobs Report** - **Earnings Reports:** Microsoft ( NASDAQ:MSFT ), Apple ( NASDAQ:AAPL ), Meta ( NASDAQ:META ), Amazon ( NASDAQ:AMZN ), Intel ( NASDAQ:INTC ), ExxonMobil ( NYSE:XOM ), Chevron ( NYSE:CVX ), Boeing ( NYSE:BA ), and McDonald's ( NYSE:MCD ). As we look forward, 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! 🌟 ### **Market Forecast (Updated 07/28/2024)** **SPX** - TSLA reported poorly on their earnings + weak guidance from GOOGL drove the market down. Money continued to Rotate into Small Caps from tech sector last week. With FOMC this week, we could potentially see a bottom in the market by Friday as we are pretty oversold at this point. Next resistance $5505 and $5653 Next support $5423 and 5285 Weekly Sentiment = Oversold **Chart Analysis:** () **Dollar Index:** DXY-Currently, the market is looking at 2-3 rate cuts by the end of the year, But we should get a clear picture from FOMC chair this week on exactly what they are thinking. JPY is also starting to gain strength, Both of these things could weaken the DXY. Next resistance $104.78 Support $104 Sentiment = Crossover to downside **Put to call Ratio: 1.15—> 1.28 Next FOMC date: July 31, 2024** **Fear & Greed Index: 49—>45** ! (prod-files-secure.s3.us-west-2.amazonaws.com) **BTC:** Crypto market has been pretty strong and testing resistance, Trump spoke very highly of crypto as well but he also flip-flops a lot. The key thing to watch here is the Dollar index, if that continues to drop, we could see btc test new highs. However, we have a huge trendline at 68k and if we can break over it, it could start a bigger bull run as well. Google our "DIYWALLST 2024 Crypto Forecast" for our favorite alt coins.
SP:SPX
by WallSt007
SPY/QQQ Plan Your Trade 7-28 - Vortex Rally Phase InitiatesGood afternoon everyone, This Sunday update highlights my SPY Cycle Patterns for next week and discusses my belief that the US stock market has entered a new Vortex Rally Phase. For those unfamiliar with my extended research, every weekend, I spend more than 10 hours creating Custom Index charts and reviewing other proprietary data points while attempting to determine an outcome related to capital flows, expectations, and global market trends. It's not like I sit here trying to study every global market. I have about 20+ Custom Index charts/data points that show me most of the data I need to see; then, I attempt to verify my expectations by looking at other data points/charts. I'm seeing the start of a Vortex Rally (as I call it). This is something very important for traders to understand and is clearly defined in this video. Get ready. We will see a solid US Stock market MELT-UP over the next 12+ months. Get some #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
#202431 - priceactiontds - weekly update - sp500 e-mini futuresGood Evening and I hope you are well. Quote from last week: comment: Increased volume on the down move is telling you that this one is the real one. Over the next months, market will test down to the bull trend line from 2023-10, which is also where the weekly 20ema is. Friday we stopped around the smaller bull trend line and it’s a decent place to expect some pullback before we be on our way to 5400/5450 comment: Low of the week was 5432 and I wrote 5400/5450, +121 points. For most letters/rooms/subscriptions you have to pay good money for those outlooks, if you even get them this accurate. Hope you made some. current market cycle: Bull trap triggered. Probably forming a trading range first before we get to the bear trend. First guess for the range would be 5300 -5600 key levels: 5400-5600 bull case: Lower lows and lower highs. Bulls stopped the selloff where they had to and their last bull trend line before only the one from the covid low remains. I do think the two legged correction is good for now for the bears and a bounce is due. Since both sides have reasonable arguments, I think it will come down to earnings. If the mag7 report good and their outlook stays good, we bounce higher. If they fail or some fail, we move sideways. Slightly favoring a higher bounce to form a proper channel downwards. Decent chance bulls might close both bear gaps. Invalidation is below 5400. bear case: Bears see another minor pullback which could not even get to the daily 20ema at 5640. They want another strong leg down to 5300 to make it clear that the bull trend is dead. It’s not out of the picture that they get it. Probability wise, it’s more reasonable to expect the bull trend line to hold and at least go more sideways before another leg down. Issue with that is, that next week we have so many news that will have a big influence on longer term traders, that we will most likely go higher than 5500 or lower than 5400. For bears it’s a really bad short right at the big support. You can scalp short on strong momentum again but bears will likely wait for a pullback before they try again. My preferred path forward is the bear channel on my chart below. Invalidation is above 5600. outlook last week: short term: Bearish but also expecting a pullback first. Same as dax. → Last Sunday we traded 5553 and now we are at 5499. Low was 5432. Bearish was right. Pullback was right. Hope you made some. short term: Neutral. Both sides have valid arguments. Will make this dependent on earnings and will only do scalps for now. Market has to form a better channel if it wants a sustained down move. medium-long term: First target for this section was 5450 and that will be hit over the next days or 2 weeks. After that is 5300 over the next 3-8 weeks and 5000 could be hit again in 2024. —update: 5450 was hit mid July. Next comes 5300 over the next 2-6 weeks. current swing trade: Took profits on the swing short from 5700. Will add again above 5550. chart update: Added my preferred bear channel for the next weeks.
CME_MINI:MES1!
by priceactiontds
US Banks & Financial Sectors are ready for another fabulous riseNasdaq Banks The bank index has been on a rollercoaster ride, witnessing numerous price fluctuations. Following the breakout of the double bottom pattern, the index surged and formed a Rising Wedge pattern. However, once the pattern broke downwards, the bank index experienced a significant decline. Upon hitting a support level around 2,650, the index established a Double Bottom pattern, signaling a potential trend reversal. Subsequent to the breakout above the neckline, the bank index began consolidating within a tight range. Most recently, another breakout has occurred, setting the stage for a potential upward rally. S&P 500 Financials After the market crash in 2020, the index fell into an oversold zone and stayed in a period of consolidation within an Ascending Triangle formation. Following this breakout, the financial index experienced a strong rally to the upside. However, it struggled to break above the 700 level and began to decline. Subsequently, the index went through a lengthy consolidation inside a Box formation. After another breakthrough, the index surged once more and created a bullish Pole & Flag pattern. With a recent breakout, the financial index is poised for another upswing.
NASDAQ:BANKLong
by NaranjCapital