Buying SPX at support.US500 - Intraday - We look to Buy at 3958 (stop at 3927)
A Fibonacci confluence area is located at 4038.
Continued downward momentum from 4040 resulted in the pair posting net daily losses yesterday.
Selling posted in Asia.
Intraday, and we are between bespoke support and resistance 3958-4048.
Preferred trade is to buy on dips.
Our profit targets will be 4038 and 4048
Resistance: 4038 / 4048 / 4055
Support: 3958 / 3910 / 3886
Disclaimer – Saxo Bank Group.
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US SPX 500
es 12-4 [alternative swing]good evening - this is an alternative setup i'm starting to entertain.
seeing early signs of a massive trap in the making.
i call this one "the cut-throat".
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cpi print is on the 13th, wouldn't it be pretty inconvenient for short term bulls if we ripped down beyond the recent lows from the other week via an expanded flat,
only to pop right back up post cpi print \ take out the highs?
lol.
>letsgetit
20 Reason buy S&P🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️
1 ✨Eagle eye: Super BUllish
2 📆Monthly: after a deep correction now, the impulsive move is just started
3 📅Weekly: bear trend/beartrap double bottom/ make lower high
4 🕛Daily: the clear bull trend toward extreme high
😇7 Dimension analysis
🟢 analysis time frame: daily
5: 1 Price Structure: bullish
6: 2 Pattern Candle Chart: flag
7: 3 Volume: high volume
8: 4 Momentum UNCONVENTIONAL Rsi: super bullish
9: 5 Volatility measure Bollinger bands: v
10: 6 Strength ADX: bullish
11: 7 Sentiment ROC: bull
✔️ Entry Time Frame: H4
12: Entry TF Structure: bull
13: entry move: impulsive
14: Support resistance base: cip
15: FIB:
☑️ final comments: buy
16: 💡decision: buy
17: 🚀Entry: 4107
18: ✋Stop losel:4019
19: 🎯Take profit:4198
es 11-30 update 🗝good evening my peoples,
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it was exactly 22 days ago when i gave you that 4130 level.
lot of bears ignored my post, and got squeezed out today for a significant loss.
i pour this aapl juice out for you, my dearest bear frens.
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as of today, i'm starting to entertain the possibility of es seeing yet again, Another expansion.
sounds kinda wild i know, but that's what happens when everyone tries to short the market.
the guys who run this game just keep running it up ---> whilst taking all the hard earned bear money.
>once the last bear falls,
>they know it because they see it,
>and when they see it ,
>they drop the market.
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4130 Could be the top, don't discount it. it is a significant algorithmic resistance which was programmed to get hit over a month ago.
here's the key though, if you've read this far:
watch how the market pulls back from 4130.
🗝does it come down in 3 waves? if so, expect higher prices.
🗝does it come down in 5 waves? if so, you caught the top.
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og target = $4130
expansion target = $4225.25
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Financial Wave. spx500Spx500.
The rising wave in SPX brought the index to 4100p. This level may become the last obstacle on the way to new historical highs. The bulls are slowly but surely buying back the market, ignoring the rise in interest rates. We will continue to look SPX and update you on any changes.
S&P 500 index: When you reach the top...A very robust US labour market data released on Friday shocked equity markets, which had surged in the aftermath of Powell's speech confirming a slower pace of rises in December.
Non-farm payrolls ( NFPs ) came in at 263k, which was significantly higher than the 200k that had been anticipated, and average hourly wages rose 5.1% y/y, well above the 4.6% expected. The job report came as a surprise following an event hosted by the Brookings Institution on Wednesday, at which Powell emphasized the need to slow the pace of rate hikes as early as the December FOMC meeting, therefore solidifying a 50 basis point hike rather than a 75 basis point boost.
The market was overly optimistic about a "Santa rally," spurred by Powell's latest dovish attitude, but may now face a rough two-week road leading up to the next US CPI data and FOMC meeting.
Prior to Friday, 92% of S&P 500 equities were trading above their 50-day moving average, a level that has historically triggered a bearish reversal. Currently, the level has just fallen to 90%, which remains in the top high of the historical range.
During the Friday session, the S&P 500 index encountered fresh bearish pressure at 4,100 levels on Friday, after strongly breaching its 200-day moving average for the first time since April and firmly trading above the 4,000 psychological mark.
The price action had reversed solidly when it met the dynamic resistance, represented by the 2022 trendline. The S&P is currently seeking support near 4,000 points, which coincides with the 38.2% Fibonacci retracement line of the low to high of 2022.
If this level is broken to the downside, there is the potential for a move to 3,800 (23.6% Fibonacci) prior to important data (US CPI) and the FOMC meeting.
Given the expected repricing of Fed rates for 2023 after the NFP reading, and the Fed blackout period, bull efforts to break over 4,100 have fewer probabilities.
SPX Model Trading Plans for FRI. 12/02: NFP FridayFed Pivot Hope Turning Into a Bull Trap Nightmare?
After 20 days of meandering around 3950/4000 level, the index rocketed out of the range to a session high of 4093.50 on the FOMC day, 11/30/22. This morning's Non Farm Payrolls data could be suggesting that it could potentially be an "irrational exuberance", and the futures' reaction so far post-NFP points to this proving to be the case. Of course, how the index trades in the regular session and how it closes today will hold further clues to this.
Trading Plans for FRI. 12/02:
Positional Trading Models: Our positional models went long on 11/29/22 at 3950.89, with a 40-point trailing stop. The long rode the post-FOMC spike up and stayed long for another session, finally hitting the trailing stop yesterday with an exit at 4060.51 - for a gain of 109.62 index points!
For today's session, models indicate going long on a break above 4040, with a 35-point trailing stop, and going short on a break below 4008, with a 36-point trailing stop. Models also indicate instituting a break-even exit once a trade is in profit by 12 points.
Aggressive Intraday Models: For today, our aggressive intraday models indicate going long on a break above 4040, 4022, or 4007 with a 9-point trailing stop, and going short on a break below 4018 or 4000 with a 10-point trailing stop.
Models indicate long exits on a break below 4054, and short exits on a break above 3991. Models also indicate a break-even hard stop once a trade gets into a 4-point profit level. Models indicate taking these signals from 09:31 am ET or later.
By definition the intraday models do not hold any positions overnight - the models exit any open position at the close of the last bar (3:59pm bar or 4:00pm bar, depending on your platform's bar timing convention).
To avoid getting whipsawed, use at least a 5-minute closing or a higher time frame (a 1-minute if you know what you are doing) - depending on your risk tolerance and trading style - to determine the signals.
(WHAT IS THE CREDIBILITY and the PERFORMANCE OF OUR MODEL TRADING PLANS over the LAST WEEK, LAST MONTH, LAST YEAR? Please check our results to see for yourself how our published model trading plans have performed so far! Seeing is believing!)
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(i) This article contains personal opinions of the author and is NOT representative of any organization(s) he may be affiliated with. This article is solely intended for informational and educational purposes only. It is NOT any specific advice or recommendation or solicitation to purchase or sell or cause any transaction in any specific investment instruments at any specific price levels, but it is a generic analysis of the instruments mentioned.
(ii) Do NOT make your financial investment or trading decisions based on this article; anyone doing so shall do so solely at their own risk. The author will NOT be responsible for any losses or loss of potential gains arising from any investments/trades made based on the opinions, forecasts or other information contained in this article.
(iii) Risk Warning: Investing, trading in S&P 500 Index – spot, futures, or options or in any other synthetic form – or its component stocks carries inherent risk of loss. Trading in leveraged instruments such as futures carries much higher risk of significant losses and you may lose more than you invested in them. Carefully consider your individual financial situation and investment objectives before investing in any financial instruments. If you are not a professional trader, consult a professional investment advisor before making your investment decisions.
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ES short ? Tomorrow is a key and pivotal moment for ES and the rest of the market…a good reaction to NFP tomorrow morning and we change trend moving forward, but a bad reaction and this likely starts the next leg lower. You can take a speculative short w small size here and target 4000 with a stop loss above 4110. Preferably i prefer to wait until the reaction and react accordingly. If we break the trend we likely head to 4300 area before years end. If we break 4000 then 3950 is on the table minimum, and we can possibly test lows in the next few months. I am inclined to lean bullish based on Dow already breaking its TL and making a higher high, plus high yield bonds breaking its trend as well as yields and DXY as well…which has marked major lows in the past
hiking can be exhausting It is my opinion that some form of a top is here. i have closed my calls.....
even if we don't sell off and just go sideways; i don't think we will see higher all of dec. which means no santa rally this year.
the bullish run should continue very early jan (jan 4 maybe) 2023.
as an overview. i do think the bear market is over. i do think the bull market will continue well into next year, but nothing goes straight up and 20% move is a decent move.
happy holidays to all.
Is the SPX500 about to break this massive resistance?!!This resistance line is in place since all the way back in January '22. The moment we break this I am expecting a massive relief rally for the SPX500. And if the DXY falls more this will give it even more fuel to make a good upwards move. If the SPX500 breaks we could see the Bitcoin price go up as well.
The break would ne around 4115 ish (Dec 5)
Trade safe!
SPX what a day! Close above 4075SPXNow the next target is the ideal extension target 4119+- few points
Ideally we get that number tested by the 5th and see 3750 filled EOM
It was a panic cycle day and I did mention about it many times in my posts.
One was done during my last night update together with the explanation.
We got that a move in one direction above previous high or low, it was up the upside.
Also mentioned that it was holding well during the day and huge calls activity.
I did trade lotto SPY 408 Dec 1st calls, bought 20 at 6.5c on average, exited at 57 and most of it at 1.08-1.35, amazing lotto
Also did few NQ calls, was restriking all afternoon taking profits on those in green, still have 2 running for tomorrow's am exit if not tonight
Careful with being long here as the upside is limited and usually the FED day gets reversed by Fri, will it be the same this time, I dont know.
There is a good short setup around 4120SPX level, no need to chase the market at this point if missed the long play today
es 11-8good evening,
quick update for you.
--
i'm starting to view this correction from a very different perspective as of today.
shared a video on yt going over the entire count in depth if you're interested.
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i'm eyeing an expansion to 4130 before we dip back down into the market depths
possible we see a low time frame dip to about 3650 before we head on up there.
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ps. i could be wrong about this count, so i don't recommend trading off it.
✌
SPX Model Trading Plans for WED. 11/30: Post-Powell SpeechDue to the event risk of Powell's speech at 1:30pm EST, our Aggressive Intraday models do not indicate any trading plans for today.
Our Positional Trading Models ended yesterday with an open long that was carried into the Powell's speech. Models indicate carrying the long into the overnight session, with the 36-point trailing stop intact. Also, models indicate an exit on a break below 3996.
For the details of the trading plans published yesterday, see below:
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SPX Model Trading Plans for TUE. 11/29 by TradersAITradingPlans on TradingView.com
SPX 500#SPX 500
Completed the Impulsive Waves " 12345 " and Corrective Wave " AB " and Forming its " C " Corrective wave in a ELLIOT Triple Wave Combo Pattern
It will Follow the Sell Trend if it Rejects from the Fibonacci Level - 78.60% ( 4148.08 )
Selling Divergence in LTF
Rising Wedge need Rejection from the UTL
SPX pathway going into tomorrowIf the price will gap down from the open, I expect the price to hit low 39 hundred.
The a rally into the FED speech, where more volatility is expected.
All day today the price stopped at 10EMA on 1h, not a bullish sign
Its a panic cycle day, a move, explanation below:
- Given their abrupt or dramatic nature, panic cycles do not necessarily reflect changes in trend or a new high or low—they tend to align to short-term moves or temporary corrections.
- A relatively fast, one-way price move, either exceeding a previous high or penetrating a previous low, but not both.
My pathway for tomorrow is:
- open (gap down) and test low 3900
- rally back to 3970-80SPX (important to hold on any test)
- strong sell after Powell opens his mouth
Im expecting bottom on Dec 1st.
Also tomorrow can produce a very strong selling (if happens, then only after Powell speaking) and it should follow through into the next day.
Ideally we retrace all the way to Oct 13th low, it will be a huge buy for a rally back to 3850+ at min by Dec 5-6th.
The low is expected by Dec OPEX.
The cycles might get inverted, so tomorrow's move will be important to determine a low or a high by Dec OPEX
Tomorrow (again IF we start breaking down hard) must close below 3906SPX for a double reversal confirmation.
That close will confirm the move down to test 3744-50SPX
Resistance is at 3975-80, 4001-10.50, then gap fill and 4037-45SPX, closing above will produce a next target 4120SPX
I might be tweeting my trades life tomorrow
Have a good night
es 11-28 update ~good evening,
quick update to one of the two bear cases i posted over the weekend.
(post pinned at the bottom of this thread).
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es1! has been tapping at the local golden zone quite a few times recently,
each poke results in a weaker dip which continues to get absorbed (accumulation).
there's no notable bearish divergence present for now,
in fact, we printed a hidden bullish divergence near the end of today -
which validates in my mind that we're going to go higher.
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>watching 3910 as a local bottom into wednesday,
>which is a heavy area of demand + a window of algorithmic confluence.
>upside target from there sits at the original 4130 level,
>with a slight chance to expand to 4190 if things get heated into the end of this year (short squeeze).
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ps. it's also possible that we've topped,
but i personally have reason to believe that we haven't (for now).
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posts which led to this one
👇
SPX pathway to close the CPI gap if the FED does not pivotI dont see the FED to pivot any time soon.
It can be another Jackson Hall event which will start a new directional move.
My ideal pathway is the low around Dec OPEX and high early Jan (might be the 200MA test)
Must hold numbers on closing level for tomorrow are:
- 3944.50-45
- 3906.50
Both are maj support zones.
Second number fits the best with other trendlines align around 3906-14SPX level
If the price will get a 4k test in am, it will be a perfect short for a move down to 3944SPX a min if not more.
Both long and short setups are coming, be patient if not in a trade already, be patient if you're
I gave you the levels to watch, feel free to use them for your own homework.
Have a good night.
Spx500 Bear Case.Good evening,
This post is part of a series of requests i recently received.
The request was: "What is your bearish projection on the US stonk market".
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Talked about this one recently via:
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My estimated top for the Spx500 = $4080~$4742.
High probability target = $4164.50.
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My estimated bottom on this one is roughly between $3550~2576.50
High probability target = $3233.25
🔺
Financial Wave. spx500In SPX, price consolidation continues and the uncertainty of further movement remains. In past reviews, we considered the fall of the index as a priority scenario, and we will return to it if the price falls below 3900p. The 4113p and 4322p levels are critical for the downtrend, and if they are overcome, SPX will move into an active growth phase. We’ll continue to monitor and update you on changes to SPX.