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Spx500forecast

SPX S&P 500 2 Week ForecastTrump wants to win re-election. Trump can’t win if the US economy enters recession. The only way Trump can possibly avoid recession is if the Fed cuts interests rates now. If the Fed waits til the market has tanked in order to cut rates, it will be too late to avoid recession via monetary stimulus that point. Trump needs rate cuts now! In order to get this he is using the tariffs to tank the stock market now to force the Fed’s hand. The Fed meets June 19, July 19, and September something. They don’t meet in August. These next two meetings are important. I believe the SPX will find a temporary bottom right around this first Fed meeting in 2 weeks, for a 3% decline. If the Fed comes out with a surprise rate cut in June or July this could send the market higher (not much of surprise as probabilities are now at 80% for a rate cut in September but would still be a surprise). If the Fed does nothing I’d expect more selling & finding new support lower. If SPX continues selling after June 19, I’d look for support between 2550 & 2475. I don’t think the Federal Reserve would let the SPX get that low again though...
SP:SPXShort
by Hayekian_Fibonacci
1
Elliott Wave View: S&P 500 (SPX) Has Resumed LowerShort term Elliott Wave view on S&P 500 (SPX) suggests that it has resumed the next leg lower. The Index has ended the cycle from December 26, 2018 low after a 5 months rally. After topping at 2961.25 on May 1, 2019, it is now expected to pullback in larger 3, 7, 11 swing to correct the cycle from December 2018 low. We are calling the decline from May 1, 2019 as a zigzag Elliott Wave structure. On the chart below, we can see the bounce to 2892.15 ended wave B. The Index has resumed lower in wave C with potential 100% extension target towards 2702.4 – 2738.4 area. The internal of wave C is unfolding as Elliott Wave impulse structure. Down from wave B at 2892.15, wave ((i)) ended at 2831.29 and wave ((ii)) ended at 2868.88. Wave ((iii)) is nesting and currently unfolding also as an impulse in lesser degree. Wave (i) of ((iii)) ended at 2805.49 and wave (ii) of ((iii)) ended at 2841.94. Near term, while rally fails below 2841.94 in the first degree, and 2892.15 in second degree, expect the Index to extend lower.
TVC:SPXShort
by Elliottwave-Forecast
Elliott Wave View: S&P 500 Futures Eyeing New All-Time HighShort term Elliott Wave view on S&P 500 Futures (ES_F) suggests that the rally from March 9, 2019 low (2726.50) is unfolding as a 5 waves impulse Elliott Wave structure. The Index is now within wave (3) which subdivides in 5 waves of lesser degree. In the chart below, we can see wave 3 of (3) ended at 2899.5 and wave 4 of (3) pullback ended at 2877.61. Short term, index ended wave (3) at 2921.5 peak. Subdivision of wave 5 is unfolded as a 5 waves impulse of lesser degree. Up from 2877.61, wave ((i)) ended at 2900 and wave ((ii)) pullback ended at 2885.25. Rally to 2914.75 ended wave ((iii)), and wave ((iv)) ended at 2900.50. Wave ((v)) of 5 ended at 2921.5. Currently, we are in the pullback in wave (4) to correct cycle from March 25, 2019 low before the rally resumes. The pullback in wave (4) is expected to stay above March 25, 2019 low (2790.25) for further upside. We don’t like selling the Index.
CME_MINI:ES1!
by Elliottwave-Forecast
Panic if SPX500 Moves Well Below 2870 and If Volume Stays LowIf a move below 2870 begins and starts to gain momentum to the downside, then we will start to see a head and shoulders pattern form which is exactly the same type of pattern that formed in the SPX500 right before the 2008 Financial Crisis. Keep in mind though, its not the intrinsic nature of a head and shoulders pattern to cause a downward move, but rather what the trading psychology of the pattern tells us about the broader market. In short, it suggests that the euphoric momentum that brought us to record highs can no longer be sustained. When we pair this with volume, we can see that this recent drive to record highs in 2018 is accompanied by significant doubt. Low volume in an uptrend is a big red flag. Oh and by the way, if volume does not pick up later in the day, it'll be the lowest daily volume since 2003. This is starting to become a real concern. So too would a head and shoulders pattern if it develops.
SP:SPX
by WhiskeyTangoFoxtrot3