US SPX 500
S&P 500 ForecastS&P 500 moved towards the 3980 level as traders prepared for tomorrow’s CPI data meanwhile, the tech heavy NASDAQ Composite was up by 0.4%.
Today’s rebound is led by energy stocks. WTI oil managed to get above the $73 level as traders focused on the Keystone pipeline outage.
From a big picture point of view, S&P 500 continues to consolidate in the range between the support at 3915 and the resistance at 3975. RSI is in the moderate territory, so there is plenty of room to gain additional momentum after the CPI data and the Fed decision. If the CPI report shows that inflation is slowing down, the current consolidation will serve as a good base for an upside move. However, it should be noted that traders may remain somewhat cautious ahead of the Fed decision.A move below the 50 EMA, which is located near the 3915 level, may be interpreted as a sign of an upcoming sell-off. S&P 500 received strong support near this level, so traders may rush out of their long positions if this support level is broken
we still in down trend and we should break the yellow line and back 4100 level
The Fed is still playing catch up to tame rising prices after its protracted gross mischaracterisation last year of inflation as ‘transitory’ and its initially timid steps to withdraw monetary stimulus,
The world’s most powerful central bank is now confronted with two unpleasant choices next year, crush growth and jobs to get to its 2% target or publicly validate a higher inflation target and risk a new round of destabilized inflationary expectations. I think Rather than fall to 2-3% by the end of next year, U.S. core PCE inflation will probably prove rather sticky at around 4% or above.
SPX500USD Is Going Up! Long!
Take a look at our analysis for SPX500USD.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 4525.0.
Considering the today's price action, probabilities will be high to see a movement to 4580.3.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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SXP500 Index 30/08 MovePair : SPX500 Index
Description :
Bullish Channel in Long Time Frame and Rejecting from the Upper Trend Line Completing its " 3rd " Impulsive Wave. We have Break of Structure and Making its Retracement in Corrective Waves " ABC " . Possible Rejection from Fibonacci Level 61.80% or Previous Resistance
SPX500USD Is Very Bullish! Long!
Please, check our technical outlook for SPX500USD.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 4408.7.
Taking into consideration the structure & trend analysis, I believe that the market will reach 4514.5 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
Like and subscribe and comment my ideas if you enjoy them!
SPX500USD SellDaily chart is showing head and shoulder pattern. Uptrend line is already broken. The price is rejected by support turn resistance level. There are a lot of sell orders at that level.
The Fed still have intent to increase interest rate at the end of the year 2023 should the inflation continue to stay above 2% target. As US Interest rate increase, the USD demand will be high and thus attract a lot of buying pressure for USD. DXY is correlated with other USD pairs. When DXY is going up and other USD pairs will be going down.
SPX to new highs SPX loves cups and handles.
All the highlighted Cup & Handles on daily have played out beautifully so far, they all have been to the upside so far, but now we are making one to the downside with targets towards 4150. Then how do we reach new highs?
If we zoom out to monthly TF things become clearer. As long as we stay above 0.5 or close above it on monthly, we have a chance to make new highs in a year or so.
I have highlighted several upside targets based on where we bounce from on monthly.
SPX did everything as per the plan, Where to now?I posted this chart just last week as part of my Major short setup going back weeks. Link to previous post in the description, please go through that setup to get the context.
This is going to be a short post, since everything is going as per the plan we just have to wait and watch, Price back to where I expect either a break below or bounce to continue higher.
So as per the plan If it's going to bounce now, I have highlighted two 30 mins demand zones. where I expect a bounce. Those two zones are also confluent with 0.786 and 0.886 fibs of the retracements.
Apart from this chart it pretty is self-explanatory.
Boost this post and leave me comment for any questions on this I'd be happy to explain.
SPX500USD: Will Start Falling! Here is Why:
Balance of buyers and sellers on the SPX500USD pair, that is best felt when all the timeframes are analyzed properly is shifting in favor of the sellers, therefore is it only natural that we go short on the pair.
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$NVDA -Potential Downside (21Aug/2023)- Welcoming NYSE opening this Week with an opened Short position on NASDAQ:NVDA taken last week due to a Broadening Wedge pattern being formed and Lower Highs Market Structure.
May be forced to Trail SL according to how markets will open
from the positive last Friday's Rally .
TRADE SAFE
*** Note that this is not Financial Advice !
Please do your own research and consult your own Financial Advisor
before partaking on any Trading Activity based Solely on this Idea.
S&P 500 H4 | Bearish reaction off 23.6% Fibo?Price is approaching our sell entry at 4401.43, which is a pullback resistance level, and at the 23.6% fibo retracement. Our stop loss is at 4449.30, which is placed slightly above the 38.2% fibo retracement and it is also a pullback resistance level. Take profit is at 4341.27, which is a multi-swing low support level.
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S&P ⇨long-term predictionhello guys...
as you can see the head of the pattern touched the flip area, this strategy is fascinating for setup!
and then formed a head and shoulders pattern and broke up the neckline very well,
so the target of this pattern is $4630
after that it is more probable if the price retraces to the QML and the neckline, let's see what happens.
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always do your research.
If you have any questions, you can write them in the comments below, and I will answer them.
And please don't forget to support this idea with your likes and comment
DXY 103.881-105.664: Section where resistance is requiredHello?
Traders, welcome.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a good day.
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(DXY chart)
With the DXY rising above 103.025, the investment market appears to be slowing down.
On the 1W chart, the 103.881 point corresponds to the resistance section, and on the 1M chart, the 105.664 point corresponds to the resistance section.
Therefore, the key is whether it can fall with resistance in the 103.881-105.664 area.
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(SPX500USD chart)
It shows a decline below the 4419.18, the HA-High indicator point on the 1M chart.
Accordingly, the key is whether it can rise with support around 4371.6.
If not, you need to make sure it is supported around 4255.2.
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(NAS100USD chart)
The key is whether you can rise with support around 14710.6-15090.3.
If not, you need to make sure it is supported around 13418.8.
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** All descriptions are for reference only and do not guarantee profit or loss in investment.
** The trading volume indicator is displayed as a candle body based on 10EMA.
Display method (in order of boldest)
More than 3x 10EMA trading volume > 2.5x > 2.0x > 1.25x > trading volume below 10EMA
** Even if you know other people's know-how, it takes a considerable period of time to make it your own.
** This is a chart created with my know-how.
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S&P500 - BEARISH MOVE 📉Hi Traders👋🏻
On The Daily Time Frame, S&p500 Price Reached A Support Level (4463.68 - 4447.89)
Currently, This Key Level is Broken📉
The Support Line is Broken🔥
So, I Expect a Bearish Move📉
i'm waiting for a retest...
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TARGET: 4408.00🎯
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if you agreed with this IDEA, please leave a LIKE, SUBSCRIBE or COMMENT!
Update SPX500 👴📣Update SPX500
I'm doing some tests with a new indicator.
In the case of this asset, we may be at a local top at 5056 and a bottom close to 2691, let's follow, I'm testing the new indicator that I developed within the global markets index and I've been getting many positive results.
Follow me and share with a friend to encourage me to make the bookmark available to you in the future.