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SPX S&P 500 2 Week ForecastTrump wants to win re-election. Trump can’t win if the US economy enters recession. The only way Trump can possibly avoid recession is if the Fed cuts interests rates now. If the Fed waits til the market has tanked in order to cut rates, it will be too late to avoid recession via monetary stimulus that point. Trump needs rate cuts now! In order to get this he is using the tariffs to tank the stock market now to force the Fed’s hand. The Fed meets June 19, July 19, and September something. They don’t meet in August. These next two meetings are important. I believe the SPX will find a temporary bottom right around this first Fed meeting in 2 weeks, for a 3% decline. If the Fed comes out with a surprise rate cut in June or July this could send the market higher (not much of surprise as probabilities are now at 80% for a rate cut in September but would still be a surprise). If the Fed does nothing I’d expect more selling & finding new support lower. If SPX continues selling after June 19, I’d look for support between 2550 & 2475. I don’t think the Federal Reserve would let the SPX get that low again though...
SP:SPXShort
by Hayekian_Fibonacci
1
spx channel, trade problems, expansion problems, debt problems..Heres a trend that may continue? Not sure I see a reason to break out to upside? Not sure what china will do as retaliation, but I imagine market wont think of it as a reason to rally back to highs.. but who knows, been wrong many times before. Why this forecast will ultimately prove to be incorrect: Im around 90% that monday, if market starts falling, we'll be seeing some trade talks going well, beautiful conversation stuff popping up in the news.. which will surely inspire our cpu palls to push price up into the 2900's.
OANDA:SPX500USD
by leftey
SPX: Europe is kindly ushering in the next depressionRead an article this morning on how tech companies having many european constituents are lagging in decline of their stock price compared to tech companies having many chinese constituents by about 4:1. The article argued that the timing of this lag could result in a disastrous tech bubble here in America. This inspired me to checkout SPX in terms of euros, i.e., SPX*EURUSD. For EW believers, the chart provides a strong indication of how bearish the monster knocking on America’s door is. FYI: EW count reveals a failed Wave 3 (came in under 1.68 Fib extension of W1) followed by the typical extended fifth seen in such scenarios (1-1.68 Fib extension of length from beginning of W1 to end of W3).
SP:SPXShort
by Teklologist
Elliott Wave View: S&P 500 (SPX) Ending Wave 5Cycle from Dec 26, 2018 low in S&P 500 (SPX) remains in progress as an impulse Elliott Wave structure. In the 1 hour chart below, we can see wave (4) of this impulsive move ended at 2722.27. The Index has resumed higher in wave (5) with subdivision also as an impulse of lesser degree. Up from 2722.27, wave 1 ended at 2852.42 and wave 2 ended at 2785.02. Wave 1 subdivides as an impulse where wave ((i)) ended at 2736.25 and wave ((ii)) ended at 2723.02. Up from there, wave ((iii)) ended at 2821.24, wave ((iv)) ended at 2803.46, and wave ((v)) of 1 ended at 2852.42. Wave 2 pullback unfolded as double three Elliott Wave structure where wave ((w)) ended at 2802.13, wave ((x)) ended at 2823.28, and wave ((y)) of 2 ended at 2785.02. Wave 3 rally is currently in progress as an impulse. Near term, while dips stay above 2784.94, expect Index to extend higher. We don’t like selling the proposed pullback.
SP:SPXLong
by Elliottwave-Forecast
2
Small Cap Stocks with Bearish daily and weekly chartsThe Russell 2000 ETF continues to deliver critical technical and longer-term price patterns for skilled technicians. Combining the IWM chart with the Transportation Index, Oil, Gold, and others provide a very clear picture of what to expect in the immediate future. Recently, we posted a research article about the Head-n-Shoulders pattern setting up in the $INDU. Again, the IWM chart is also showing a very clear Head-n-Shoulders pattern with critical resistance near $159.50 and support near $144.25. Our researchers, at Technical Traders Ltd., believe this right Shoulder will prompt a downside market move towards support near $144.25 before a downward sloping wedge pattern sets up. This first downward price leg will setup and congesting wedge formation that will, eventually, break to the upside and drive market prices higher. We authored a research article about this pattern setup on February 17, 2019. You can read it here. Skilled traders watch all the charts to assist them in identifying characteristics that can assist them in understanding price moves, key support/resistance levels, and price patterns. This IWM chart should be on everyone’s radar at the moment. Where the IWM finds support, so will the other US stock market indexes. The IWM setup indicates we may only see a 5~7% downside price swing before support is found. We’ll have to watch how this plays out over the next few weeks/months to determine if the $144.25 level is true support or if the lower $137.00 level will become support. Either way, the downside price swing appears poised to unfold over the next few days/weeks – so be prepared. Please take a minute to visit www.TheTechnicalTraders.com to learn how we can help you find and execute better trades in 2019. We have already positioned our clients for this move and we believe we can help you stay ahead of these markets.
AMEX:IWMShort
by TheTechnicalTraders