Spx500short
US Market Technicals Ahead (2 August – 6 August 2021All eyes turn to the US July jobs report due this Friday, with investors on the watch for any catalysts that could encourage the Federal Reserve to tighten monetary policy sooner.
Earnings will continue to dominate headlines, with more than a quarter of S&P 500 companies set to report this week. Berkshire Hathaway ($BRK.A), General Motors ($GM) and Uber ($UBER) are the headlining companies due to report their quarterly result.
The crackdown by Chinese market regulators could continue to be a major story and in the UK the Bank of England is to hold its latest policy meeting where it is likely to echo the Fed’s view that there is still some way to go before stimulus can be reduced.
Here is what you need to know to start your week.
S&P500 (US Market)
The benchmark index $SPX ended the week with a muted -0.10% (-4.3 points), closing near its peak at 4,400 level. $SPX remains above its multi-month long trend channel that was earlier highlighted. Every break out of $SPX trend channel resistance has been met with a rejection (6 times since 2021).
The immediate support to watch for $SPX this week is revised up to 4,310 level; the 50DMA short term support level, along with a 75% retracement within its trend channel.
July jobs report
Friday’s U.S. non-farm payrolls report will provide fresh clues on the strength of the economic recovery and inform the outlook for Fed policymakers.
Economists are expecting the economy to have added 900,000 jobs in July after a forecast-beating 850,000 in June.
Last week Fed Chair Jerome Powell said the job market still had “some ground to cover” before it would be time to start scaling back stimulus measures the central bank enacted in the spring of 2020 to combat the economic fallout from the coronavirus pandemic.
In June Fed officials began debating how to wind down bond purchases but there is no clear timetable yet for when it will begin pulling back emergency market support measures.
Earnings
Investors will get a fresh batch of earnings reports in the week ahead from companies such as Eli Lilly ($LLY), CVS Health ($CVS) and General Motors ($GM).
Expectations of strong future earnings have been the key driver of the S&P 500’s gains this year, according to a Credit Suisse analysis of the index’s year-to-date performance that compared change in stock valuations with changes in expected earnings.
U.S. stocks fell on Friday and registered losses for the week as Amazon ($AMZN) shares dropped after the company forecast lower sales growth, but the S&P 500 still notched a sixth straight month of gains.
China crackdown
China’s recent regulatory crackdown has frightened investors away from Chinese stocks and left tech companies operating in an uncertain environment.
China has been tightening its regulatory grip on overseas share issuance after it launched a probe of ride-hailing giant Didi Global last month, just days after its listing in New York.
Following a sharp selloff authorities moved to calm market jitters which put a floor under stocks and the yuan, for now.
In the coming week investors will be looking to Chinese PMI data amid growing concerns over a slowdown in the world’s second largest economy, which could be the next test for markets.
Bank of England meeting
The Bank of England is expected to keep stimulus running at its current pace when it meets on Thursday, despite some disagreement among policymakers over the size of its bond-buying program against a background of rising inflation and an improving economy.
Officials are likely to raise their inflation forecast for this year, but the outlook for growth remains uncertain amid concerns over the delta variant.
SPX WARNING Fibonacci Circle top and Wave 5 topHi its been a while,
i've been very busy with The OWL and cryptos. I want to show you this chart cos i think we are approching a market top soon, the consequence of a hit of this 3.618 fib would end in my opinion a Supercycle.. which can bring a depression and a Deflation plase. Also this bearish divergence we created since May 1998 is no doubt.
Short SPXI have been patiently waiting to short SPX. The overnight ES session looks juicy. If we close below 4380 tomorrow, likely the decline will start next week. Now holding UVXY 35% and 5% SPXS at slight loss. Looking for a 5% + pullback and one more UVXY pump ~35% at least. Bias toward a weekly big red candle next week. If I am wrong, probably need to cut loss and long SPX again. Next opportunity should be end of August. Always protect your capital and profit first
SPX week preview - Positive accumulation week - Tension in AsiaSPX recovered quickly from last week’s flash correction on Monday. After such quick recoveries the market tends to accumulate in a slightly positive territory. The tension in the Asian market forces US capitals to move back to the US market. This movement will reinforce the USD currency and therefore weight a bit on the equity. The correlation between international markets will probably push US markets in a negative territory during Tuesday but this should not have a dramatic effect on the weekly performance. Our overview tends therefore to be quite neutral. Selling the 4325 put strike and buying back the 4320 seems an acceptable decision till the end of the week.
What's next for SPX ? S&P E-mini futures pointing down. There could be bounce from 4305 level and then if there's rejection at 4345 or lower levels, can test support levels at 4290, 4280 and then finally 4264. 4230 is the last level for bulls to defend. If it reclaims 4348 and stays above, first green flag. Goes above, stays above 4370 confirmation. Until then bias on downside. Until then every bounce may be faded. Close below 4230, highly likely to test 4142
SPX500 bearish as Momentum turns downSPX500 1hr chart on top
200MA and 50MA will 'death-cross' (60m chart) if the acceleration of downward momentum continues.
Downward momentum is evident in 3 custom momentum indicators.
The momentum picture is similar (bearish) on all TF's from 30m to 240m.
I intend to short upon sufficient confirmation of a reversal.
S&P 500 - Standard & Poor's 500 IndexThis will be my final analysis on the Standard & Poor's 500 Index until the market bottoms out.
I urge all investors that have extreme long exposure to exit the market due to economic uncertainties and political agendas
Vaccinations leading to a 3rd wave has created an economic situation we have never experienced before.
Markets are currently topped out and in an extremely overbought territory!
Most stocks are in bearish momentum
If anyone is looking for trading assistance you can contact
maverickassociates.wixsite.com
Entering Danger ZoneMultiple Fibonacci indicators overlay right around this red zone.
Large area of resistance.
RSI is very overbought now, similar to other peaks.
But whatever... Just keep buying it if you want. Money printer go Brrrr.
I bought more puts. What can I say? I like hurting myself.
I don't care anymore, and am a very depressed bear today.
Hopefully these feelings indicate that we're near the top, cause I feel like giving in to the bulls, but I'd rather go bankrupt at this point.
Or... is it since I think that about my feelings that that means those feelings are right..?..uhhh....
I would curse, but then they'll block my post because you know, censorship. I need a smoke.
(Not financial advice. Just what I see.)
S&P500 US500 Short IdeaWe have seen a very bullish move from the US500 lately, with the past 10 days seeing 9 bull candles, and the only bear daily candle at 18 points down in a 220 point tear creating new ATH's.
What Now? Is it time to short? Will this keep going higher? Is it risky to sell here?
The answer to all these questions in my opinion is Yes. In my view, it is time to short purely based on the fact that NFP is now out of the way, EOM done, and earnings season is upon us. Profit takers have been holding off due to the bullish move, however we know that moves like this don't last long, and we are due a correction candle.
From this level, I would be looking for a 50 point+ correction to the downside, before we continue towards the 4400 zone. My target zone for TP on shorts are 4260 and lower, primarly due to the sole reason we must return back here.
Could this be another move similar to the one we saw late march to mid april? Yes but it's unlikely as that was a very very good run. It was however EOM and end of the quarter, so we at least know that if this is following in the same steps then we are approaching the top before a large correction, however as I mentioned, it is unlikely this has more gas in the tank to continue before stopping and refuelling. We have gone through the 4200 level far too quickly.
THe S&P 500 will continue to move up, there's no reason for it not to. Everyone is prepared for a market crash and we all know a crash never happens when everyone is prepared.
If you enjoy the analysis please leave a like and give me a follow for more!
SPX500: double entry intraday tradeHi Traders,
This is my view on this pair for the next few days
#SPX500
Double entry (wait for evidence after NY opening)
SELL 4255
SELL 4257
SL 4262
TP 4240
I remind you that this is only a forecast based on what current data are.
Therefore the following signal will be activated only if specific rules are strictly respected.
If you follow my strategy you will be able to identify the right filters and triggers to enter correctly the market and avoid fake signals.
I really hope you liked this video and I would like to know what do you think about this analysis, so please use the comment section below this video to give me your point of view.
Thank You
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Pietro from Trading Kitchen