SPX - bottom in 2024 (NEW)hi traders!
In September this year we have published a trading idea where we identified the Rising Broadening Wedge on SPX chart, which is a bearish pattern and we predicted more downside to come:
In November we looked at the chart from a different angle and we published the idea where SPX continues the downtrend as it's getting rejected from the downsloping resistance line:
Both publications are still valid and we expect those targets to be reached.
Today, in this trading idea, we would like to show you something very interesting on a monthly time frame.
What you can see on the chart is that:
-Major trendline was acting as a support from the beginning of 2009. It's a very important support as we've never seen a monthly close below this trendline. In 2020 (COVID crash), the price faked out but eventually it closed above the trendline.
-Last retest occured in March/April 2020
-We expect that the next retest of this key trendline will be in 2024 as probably the recession will get worse in 2023 .
On the other hand, we don't expect such a huge drop like in 2008 /2009 when SPX dropped 57 %.
False breakout below the trendline may occur like in 2020 but we believe that a monthly close will be above this major trendline.
2023 and 2024 will be a great time to accumulate stocks (and crypto) at huge discounts. The opportunity will present itself but it's not there yet. Patience is the key.
Do you agree? Will the trendline hold this time?
Or maybe you think that SPX won't retest it in 2023/24 and SPX has already bottomed out?
Share your opinion in the comment section!
US SPX 500
ES1! SPX500USD 2023 MAR 16
ES1! SPX500USD 2023 MAR 16
Scenario1 4094 short again! Hope you had taken the trade.
No trend changing principles observed, short
preferred.
Scenario Planning:
1) Short if 4094 / 3928 is rejected
2) Long on support and accept of 3788 // 3928
Volume Analysis:
Weekly: Ave (higher vol down bar) close toward low
= Supply remains
Daily: Ave vol down bar close off low = some demand noted
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
4175 4094 3928
3788 3502-3580
Remember to like and follow if you find this useful.
Have a profitable trading week.
S&P 500: Bullish Butterfly and Bullish Bat Type 2 ConfluenceAfter a decent bullish type 1 reaction the SPX has come back down to the zone and looks to be showing moderate exaustion. If we can get that MACD to cross and the RSI to curl out of the oversold region we could very well see the SPX stage a rally before the end of this week or at the start of next week. That should take it to the true target of atleast $4120 or higher.
Whether it can continue its mid- to long-term uptrend is keyHello?
Traders, welcome.
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(NAS100USD chart)
It received support and rose near 11988.2, the point of the HA-High indicator on the 1W chart.
(1D chart)
The key is whether it can rise with support above the uptrend line (1) and near section 2, 12119.2-12255.2.
The next period of volatility is around March 9th, so you need to check where you are located after this.
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(SPX500USD chart)
The key is whether it can rise with support around 4037.6, the point of the HA-High indicator on the 1W chart.
If not, you should check for support around 3984.7-4000.
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(DXY chart)
We believe that at least a drop below 102.020 and below 101.494 should be maintained to revitalize the investment market.
Otherwise, if it rises above 105.873, the investment market is likely to enter a recession.
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** All descriptions are for reference only and do not guarantee profit or loss in investment.
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How to Access Stocks Earnings Report in TradingViewWelcome back Traders!
TradingView has done an excellent job providing earnings information on individual stocks! If you are a new or existing stock market trader, you will find this information helpful
and I hope you learn something new.
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Thanks for your continued support!
Microsoft I Pullback and rise upwardWelcome back! Let me know your thoughts in the comments!
**Microsoft Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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SPY I Pullback and more growth to comeWelcome back! Let me know your thoughts in the comments!
**SPY Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support!
Weekly prediction for ES_F After a wild week when we bounced cleanly off the 200DMA, backtest of the trendline andf it just went up with 0DTE flows going crazy. I'm thinking we trend up and then go for a liquidity grab lower. How low no one knows but I have my areas for y'all to reference if needed.
Need to confirm support around 11988.2Hello?
Traders, welcome.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a good day.
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(NAS100USD chart)
We need to see if we can find support at 11988.2 and rise above 12119.2 in the volatility period until March 2nd.
If it fails to find support near 11988.2, I would expect it to fall towards section 3, 11366.9-11578.2.
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(DXY chart)
If it rises above the 104.738-105.873 range, the investment market is likely to enter a recession.
Therefore, it should drop to or below the 102.020-103.494 range.
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(SPX500USD chart)
The key is whether it can get support around 3931.2 and move up along the uptrend line.
If not, I expect it to fall around 3854.4.
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** All descriptions are for reference only and do not guarantee profit or loss in investment.
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SPX to find resistance at previous levels?US500 - Intraday - We look to Sell at 4014 (stop at 4034)
Posted a Bullish Hammer Bottom on the Daily chart.
Buying posted in Asia.
Bespoke resistance is located at 4014.
The previous swing high is located at 4018.
A bullish reverse Head and Shoulders is forming.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
Our profit targets will be 3942 and 3940
Resistance: 1014 / 4018 / 4030
Support: 3966 / 3942 / 3925
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
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SPX Bounce Target ReachedTen days ago, I wrote about a correction of the SPX back the red support zone. Now the time has come to talk about what could happen next.
The correction didn't happen in the beautiful fashion i had forseen, but this still works. What i expected was a clear zigzag formation within this falling channel, but we broke the support trendline and reached the first real correction target. After that, the price shot back in the channel.
From here, it is most likely that the price will go sideways, maybe in a fashion where it will touch the resistance line once again, or that the SPX is will reach the lower level of this zone, whilst staying in the channel.
Reasons to be supported by 11988.2Hello?
Traders, welcome.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
(NAS100USD chart)
The HA-High indicator of the 1W chart was created at 11988.2 point.
Therefore, it is important to find support around 11988.2 and be able to rise.
This is because if the price is maintained above 11988.2, it is likely to continue its mid- to long-term uptrend.
If not, you need to make sure it is supported in section 3.
The next period of volatility is around March 1st.
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(SPX500USD chart)
The key is whether you can rise above 4000.
If not, you should check if it finds support around 3931.2 and moves up along the uptrend line.
---------------------------------------------
(DXY chart)
If it rises above the 104.738-105.873 range, the investment market is likely to enter a downturn.
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** All descriptions are for reference only and do not guarantee profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator includes indicators that indicate points of support and resistance.
** Check the formulas for the MS-Signal, HA-Low, and HA-High indicators at ().
(Short-term Stop Loss can be said to be a point where profit or loss can be preserved or additional entry can be made by split trading. This is a short-term investment perspective.)
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S&P 500 Downtrend continue???Considering this price action, along with deadly crosses in EMA10-EMA20 and MACD, prices could potentially trend lower for the week ahead. The next support can be seen at 3,942 (24 February 2023’s low), followed by 3,900. However, a daily close above 4,050, coincidentally the EMA20, could suggest a retest of 4,100 resistance.
depends on whether it is maintained above 12119.2 after March 1Hello?
Traders, welcome.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
(NAS100USD chart)
(1D chart)
The key is whether the price can sustain it by moving above the uptrend line (1) and above 12119.2.
If the price is maintained above the M-Signal indicator of the 1W chart and above HA-High, it is expected to continue its mid- to long-term upward trend.
If it doesn't, it's likely to drop down to section 3.
---------------------------------------------
(DXY chart)
We need to see if there is movement out of the 103.494-104.738 interval.
If it rises above 104.738-105.873, the investment market is likely to enter a recession.
A drop below 101.494 is expected to boost the investment market.
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(SPX500USD chart)
The 4000.0 point is the point where the M-Signal of the 1M chart and the M-Signal of the 1W chart pass.
Therefore, if the price holds above this point, it is expected to move up along the uptrend channel.
If not, I expect it to fall below 3931.2.
However, as long as it does not break out of the uptrend, it is expected to maintain its uptrend.
-------------------------------------------------- -------------------------------------------
** All descriptions are for reference only and do not guarantee profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator includes indicators that indicate points of support and resistance.
** Check the formulas for the MS-Signal, HA-Low, and HA-High indicators at ().
(Short-term Stop Loss can be said to be a point where profit or loss can be preserved or additional entry can be made by split trading. This is a short-term investment perspective.)
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BUY NATURALGASGood morning traders, I managed to start again sharing with you one of the trades I make every day since I trade multiple markets. The one I'm sharing with you today is on NATURALGAS.
As you can see on the chart the system I follow gave me the entry point with the little candle I put the arrow at, to make things fair I gave the entry to the guys I work with first and after 15 min I share it with you. I'd you have any questions don't hesitate to ask.
TP and SL set them at your own risk
Spy could ripSup baby,
This story will be told using the weekly time frame, colourful pasta, made up lines, and a positive outlook.
If we look back some time, using the 20(yellow), 50(Orange), 100(Blue), and 200(Red) squiggles. You’ll notice we haven’t crossed the Orange, or the Blue without recovering and taking off afterwards. In fact we haven’t since 2008.
If this fails, we also know the Red pasta is bouncy! If the Red pasta fails you, just keep buying calls and eat ramen. You’ll be just fine.
Interestingly enough, the market sentiment online is rather bearish. It has been for a few months now. The rate hikes are doing a good job screwing people, how much it’s helped inflation though.. couldn’t tell ya. Point being, it’s the first time this many investors are present online and taking in all the recession crap 24/7. I honestly think there’s enough bullshit out there to cover up a good market rip.
This is pulling back to retest an old downtrend that held the market back (4 times) during this “mild recession”. AND it’s hitting a tested diagonal trend line that’s kept the recent rallies in check. The Yellow pasta could breakout , this could be nice.
Hope you enjoyed reading this! If not, buy puts what do I care.
Not investment advice
Cheers
4 charts Bitcoin - Gold - DXY - S&P500Never posted this in here so, thought I'd give it a go
Bitcoin has, as we all know, made a full recovery from the FTX crash and is now back to the area of its price Prior to that crash, currently resetting but Bullish Sentiment continues despite the "War cries" from the FED - and Data shows that BTC PA does not react overly badly to Rate rises..and neither does the Dow Jones - on a monthly chart, BTC and S&P are in very similar positions, coming out of Bearish MACD, now turning bullish
GOLD is continuing its Low volume slide but that could change Soon, if only for a relativly short time. On a Long Time Frame, Gold is in the Handle of a Cyup & Handle pattern and has just been rejected frm the upper trendline and is currently on the 9.382 Fib retracement line, could act as support but the Weekly MACD is turning Bearish - likely to eventualy reach lower trendline and bounce from there, around 1650
DXY has also just bounced off a Fib retracement line ( 0.5) and the Weekly 100 EMA - on the 4 hour chart, it is Bullish with EMA's now in order below PA of 50, 100 200. MA's are lagging indicators. Change maybe about to happen. RSI is overbought and MACD over 0 - Short term StochRSI is overbought on 1&4 hour, Daily and weekly which points to wards a range incoming at the very least, maybe Drop
On a weekly chart, S&P has broken through a long term descending line of resistance and is currently coming back down to test it as support but on a daily, PA has dropped back below MA's - on a 4 hour ( as in charts above) PA has just come down onto the 200 MA which may act as support - Over all, I think Markets are about to recover over the next week or so
OVERALL, BTC and S&P are in very simialr positions and loko ready to push higher in the near future - DXY has a Ver Bearish looking Monthly MACD and oversold Stoch RSI so, over all, I see more downside over time, after the current lttle push up is exhausted
GOLD is in a better positin than DXY though stil lhas room to drop in time and then recover but liekly to stay in Handle of Pattern - Over the last 19 months, I have seen a large number of Cup / Handle patterns fail and the PA drop out of the handle to at least 50% below - We could see GOLD got to 1547 -1400 this year - Not a popular opinion I know
What ever you do, trade safly right now and Always...
May your gods keep you safe
Beginning of volatility (until February 21)Hello?
Traders, welcome.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
(NAS100USD chart)
(1D chart)
The first start of the volatility period mentioned on the BTC chart is on the NAS100USD chart.
Therefore, during the volatility period until February 21st, it is necessary to check whether there can be a movement out of section 2 and section 1.
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(DXY chart)
The question is whether it can continue the trend by breaking out of the 103.494-104.738 zone.
-----------------------------------------
(SPX500USD chart)
The HA-High indicator on the 1W chart is falling and is about to be created.
Therefore, I think it is highly likely that depending on where the candle closes this week, it will determine whether the mid- to long-term uptrend can continue or whether it will show a downtrend.
-------------------------------------------------- -------------------------------------------
** All descriptions are for reference only and do not guarantee profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator includes indicators that indicate points of support and resistance.
** Check the formulas for the MS-Signal, HA-Low, and HA-High indicators at ().
(Short-term Stop Loss can be said to be a point where profit or loss can be preserved or additional entry can be made by split trading. This is a short-term investment perspective.)
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