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Spx500long

SPX - battle at 2900 - where will it go?Minor update for what is going on with SPX. I was bullish SPX and I believed the wedge outbreak on the downside was a false breakout, thus invalid. That made me update the previous wedge. We see SPX is hovering around 2900 level(Daily 100EMA), and it is caught between the Daily 100 EMA and the Weekly 100 EMA. In a wider band we see it is caught in between the Daily 50EMA and Weekly 50EMA. Around the 2930 we see Fib 0.618 retracement and around 2950 we see Daily 200EMA and Weekly 50EMA. Given all these levels, there is a lot of resistance and therefore I expect heavy battling around the 2950 zone. For good sell sentry, sell around 2950 with SL 3050 and TP 2850. We will for sure see retracement from 2900 levels. On a small scale, back to 2850, on large scale, potentially 2800. With the new highs however, I do believe we will test 2950 and potentially break it. The interesting zones are indicated by blue boxes. One trade idea could be wait for retracement and buy around 2850 with SL 2775 and TP 2950. With strong believe, enter anywhere long in the blue box and aim for 3000-3100. Why not wait for retracement? Good exit is far more important than good entry. Note that my long term view is definitely bearish. I just think we are just not done yet with the uptrend. Trade well.
OANDA:SPX500USDLong
by pptw
6
New high's to be expected on SPXIn my last post I stated I saw upside till at least 2900 levels. Now we are there, I can continue makingnew assumptions. Since we are in a clear bull trend this month, RSI is still not overbought and the market has shown very little sign of weakness, I am bullish. We went from my previous post's level of 2760 to 2900, and I expect we will make new highs soon since we broke previous high and are now at a new local high of 2915. If market is in doubt, we will hover around 2900. When weak, we could retrace to some levels indicated in the chart. With my bullish sentiment, I think we will move up after retracement to the 200 MA/EMA levels of around 2950-3000. Of course, we will find resistance here, but at the moment I do not see why we could not reach the high's of early March around 3100. Very likely to see retracement here and there, but 3 bullish bars in a row, combined with a new high, and still room till moving averages and previous high's, I think this will ramble on. If FED comes with very positive news or statements today, I think we will not hover too long and start heading towards 3000 in the next days. New information might change my view, but at the moment definitely bullish with possible paths drawn. Note that I do not specifically expect every retracement line to head to the higher level indicated. It's just some levels of low's and some levels of high's.
OANDA:SPX500USDLong
by pptw
2
SPX500USD TARGET TO 3000 ! NICE LONG TRADEHello ! If you agree with me hit like and follow me thank very much. I'm waiting for this moments long time. Price 2 months resistance was broken. Price will check horizontal resistance. I think it will break and keeping up to next resistance zone /target again 3000/. - Bullish candlestick - 1D Resistance was broken/ 4H resistance was broken/ - Rsi up Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk.
OANDA:SPX500USDLong
by BatsukhB
5
SPX500 scenarioOur view on #SPX500: Price reacted very well on the last Fibo Zone in 2900 Area. The next one is around 3000 and we're sure the price is going to reach that zone and bouncing downside to 2900 Area. This is a possible short trade. We only have to wait for a confirmation for a long trade to area 2900. It seems a Wave pattern is consolidating. We only need to know where the point 4 will be. Which channel will be confirmed? Time Analysis suggests us we will discover it on Monday!
OANDA:SPX500USDLong
by kitchen_trading
Is the S&P 500 Finally Going To Dump?There are few little issues in here such as the EW structures of pink submicro 1 of A of Y and especially pink sub-micro 2 which looks like a little impulse. These issues can be observed at a low TF. Geometry is super clean here: slopes are great (Y<W), subminuette X ended right at the ML of the channel, retest of the channel from below, ML of PF untouched and now far away... Dumping today would drastically increase confidence in this count.
OANDA:SPX500USDShort
by TradingSurfers
2
SPX: A Technical Approach to the Stock Market 1H (Apr. 20)X FORCE GLOBAL ANALYSIS: In this analysis, we take a purely technical approach to the S&P 500 Index. Bullish Evidence - We see a bullish divergence, with higher lows on the price, and lower lows on the indicator - The Relative Strength Index (RSI) shows lower lows, as well the Moving Average Convergence Divergence (MACD) - We are also creating higher lows and higher highs in an ascending trend line, having broken through a lot of strong resistances - The RSI is looking for another breakout through the descending trend line resistance Bearish Evidence - However, we also spot a bearish divergence, in which the price forms higher highs, and the indicators show lower lows - The RSI is trading within a downtrend, showing signs of weakening strength, forming lower highs and lower lows - The RSI is at overbought levels - The MACD also shows greater bearish histograms and a downtrend in the moving averages, showing a lack of momentum - On the bigger picture, we are trading within a bearish ascending wedge Market Sentiment: We are still at the 'fear' zone in the fear greed index, but as the stock market showed a strong bounce, bullish sentiment begins to kick into the market again. What We Believe Based on purely the technicals demonstrated in the chart above, it seems as though the probabilities for a bearish case are higher. However, given that we take into consideration the amount of money the US government and Fed is looking to pour into the financial market, as well as the improving situation of the Corona Virus (Covid-19) in the states, the bullish scenario's probabilities aren't comparably too low either. Trade Safe.
SP:SPX
by XForceGlobal
5
S&P 500 INDEX (SPX) WeeklyDates in the future with the greatest probability for a price high or price low. The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will miss its prediction date by one candlestick. If multiple Djinn prediction dates are missed and are plowed through by same color Henikin Ashi candles the asset is being "reset". The "reset" is complete when Henikin Ashi candles are back in sync with Djinn price high or low prediction dates. One way the Djinn Indicator is used to enter and exit trades: For best results trade in the direction of the trend. The Linear Regression channel is used to determine trend direction. The Linear Regression is set at 2 -2 30. When a green Henikin Ashi candle intersects with the linear regression upper deviation line (green line) and both indicators intersect with a Djinn prediction date a sell is triggered. When a red Henikin Ashi candle intersects with the linear regression lower deviation line (red line) and both indicators intersect with a Djinn prediction date a buy is triggered. This trading strategy works on daily, weekly and Monthly Djinn Predictive charts. This is not trading advice. Trade at your own risk.
SP:SPX
by Dinjin
1