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Standardandpoors500

VIX showing that tension is expected soon in the stock markets.When we looked at the Volatility Index (VIX) on our November 07 2023 analysis (see chart below) we compared it with the S&P500 index (SPX) : The S&P500 has reached the top of its Channel Up, while the VIX bottomed and is consolidating on a price action that is very similar to the July 27 2023 Low, which was the former Higher High of the S&P500 Channel Up. Today we plot both VIX and the S&P500 on the same chart and not side by side. As you can see VIX's 1D RSI has bottomed and is rising within a Bullish Megaphone, indicating that the price has already bottomed, which is a Lower Low on the Channel Down pattern it has been trading within since the September 28 2022 High (which has also been the start of the 2023 recovery year for the stock markets). The SPX is illustrated by the thin black trend-line and being negatively correlated in nature, when VIX declined within this Channel, the stocks rose and vice versa. Since October 23 2023, VIX started to decline again and that sparked the stock rise which is holding up to this day. VIX's bottom and rise though above the 1D MA50 (blue trend-line) within the Bullish Megaphone we just mentioned above, is an indication that the SPX has topped, similar to the February 02 2023 and July 27 2023 Highs, which where Lows for VIX's Channel Down. The chart clearly shows that VIX has just started its own (dashed) Bullish Megaphone (has always done so a little after the RSI Bullish Megaphone) and that was been the start of the S&P500 decline during the Higher Highs we mentioned. As a result, we expect VIX's volatility to apply high pressure on the stock market in the next 4-6 weeks, which should technically bottom and turn into a buy opportunity again only after VIX closes a 1D candle below both the 1D MA50 and 1D MA200 (orange trend-line) as it did on November 02 and March 28 2023. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:VIX
by TradingShot
4
S&P500 Bearish Divergence on 1D RSI points to a correction.The S&P500 index (SPX) has reached the top of the long-term Channel Up pattern that started on the October 13 2022 market bottom. This development is a strong sell signal on its own but it gets even stronger as the 1D RSI has been within a Channel Down since December 19, while the price was rising within a Channel Up, which is a technical Bearish Divergence. The very same Bearish Divergence that led to the July 27 2023 Higher High and was followed by a 3-month almost -11.00% correction. The first wave of that correction was -5.84% and has been the minimum correction range in 2023, settling just above the 0.382 Fibonacci retracement level. As a result that minimum will be our target and its at 4700, as we may see a bullish reaction going closer to the mid-March Fed Rate Decision (in expectations of rate cuts). Technically though, we can see a longer correctional wave to -9.26% (like the Bearish Leg that bottomed on March 13 2023) that could test the 1D MA200 (orange trend-line), or even almost -11.00% (like the one that bottomed on October 27 2023). Notice how each of those potential correction targets are conveniently placed around key Support or Fibonacci retracement levels. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500Short
by TradingShot
2
S&P500 Buy and Sell trading plan.The S&P500 (SPX) index has been trading within a Channel Up pattern since the December 07 low and is currently on the 3rd Bullish Leg towards the top (Higher Highs trend-line). The basic Support is the 4H MA200 (orange trend-line) which has (nearly) held twice this month, with the 1D MA50 (red trend-line) right below being the separator between a medium-term bullish and bearish trend. We expect a maximum Leg growth of 5.56% like the one that topped on December 27, so we are buying towards 4900 or until the 4H MACD makes a Bearish Cross (standard peak/ sell signal within the Channel Up), in which case we will sell and target the Channel's bottom (Higher Lows trend-line) at 4800 (-2.80% decline like January 05), or close earlier if the 4H MA200 gets hit. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500
by TradingShot
S&P500 Is 4800 the end of the road after 9 green weeks?The S&P500 index (SPX) is currently on its 9th straight green week (1W candle) following the October 23 (weekly terms) bottom. That was a Higher Low on the 15-month Channel Up and based on that pattern, the index is approaching its top (Higher Highs trend-line). What adds more weight to the very high levels it is trading at, is that the All Time High is just above the current price at 4820. A peak on that level would represent a +17.40% increase, exactly the % rise of the first Bullish Leg of the 15-month Channel Up that peaked on the week of November 28 2022 and then corrected by -8.06%. With the 1W RSI almost overbought (70.00) as it was on July 24, which was the peak of the previous Higher High of the Channel Up that initiated a 3-month correction of almost -11% and the 1W MACD on a post Bullish Cross level similar to the highs of August 15 2022 and November 28 2022 that kickstarted corrections, the selling pressure has now considerably stronger parameters to start. This means that, at least from a technical perspective, this is the strongest sell opportunity since late July. A minimum correction of -8.00% would deliver a test of the 1W MA50 (blue trend-line) and as such, our target is 4450 (slightly above it). If however the bullish trend continues for a few more weeks and pursues the maximum % rally we have seen since 2021, which has been +20.95%, then we can see an extension at around 4950, in which case we will add an additional (2nd) sell and both our bearish targets will be restructured at 4580 (-8.00%). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:SPXShort
by TradingShot
S&P500 The rally still has one more High to give at least.The S&P500 index (SPX) pulled-back yesterday on the strongest 1D red candle since October. A natural technical reaction after weeks of rise-only price action and an overbought 1D RSI that almost hit 83.00. The long-term pattern remains a Channel Up since the October 13 2022 market bottom and as long as the 1D MA50 (blue trend-line) is supporting, it is likely to see one final upward extension towards its top (Higher Highs trend-line). The two major Higher High sequences (bullish legs) of this Channel have been around +20.50%, extending almost as high as the 2.0 Fibonacci level. As a result we are expecting a minimum of 4930, before any larger correction takes place, unless of course the index breaks above its Channel Up, in which case we will look for a new pattern. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500Long
by TradingShot
S&P500: Possible top near 4900. RSI highly unsustainable.We are not saying that the S&P500 won't complete this market wide desired rally in the last two weeks of the year. Even January could be bullish. But since the price is approaching the top of the 14 month Channel Up, while the 1d RSI is highly unsustainable deep into the overbought zone at 80.00, the market is most likely positioning itself for a strong technical correction. The last time the 1d RSI was that overbought was on June 15 2023 and November 05 2021. The latter in particular looks very similar to today. Both patterns peaked at least 6 weaks after the RSI got this overbought. New All Time High most likely will be made at 4900 at the very top of the Channel Up in a typical overextension of the market to trap as many late buyers as it can. Follow, Like, Comment below!
TVC:SPX
by YahooSignals
S&P500 Bullish unless this Support level breaks.The S&P500 index (SPX) is extending the bullish leg of the 16-month Rising Wedge pattern. It doesn't have much room left before it hits the top (Higher Highs trend-line) of the pattern and as long as this stays intact, it targets 4730 as an end of year target. As you can see, throughout this pattern, its shorter Rising Wedge patterns that have driven the price upwards on the bullish legs, just like the current. The previous broke to the upside and peaked on the 3.0 Fibonacci extension while the first one failed and when it broke the Support (last Higher Low), it declined to the 0.5 Fibonacci retracement level below the 1D MA50. As a result, if the Support (4535) fails first, short and target 4370 (0.5 Fibonacci). The 1D MACD is about to complete a Bearish into Bullish Cross pattern, which was favors the bullish scenario. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500
by TradingShot
1
S&P500 How high can this rally go?The S&P500 index (SPX) is on a relentless 1-month rally since since the October 27 bottom, having grown already by more than +11%. Since the August 16 2022 High, the index has entered into a long-term Channel Up sequence. The last two breaks below the 1D MA200 (orange trend-line) have been the Higher Lows and the best medium-term buy entry. The recent (October) one in particular was the first that was on a Higher Lows 1D CCI Bullish Divergence. We can see that all rallies since August 2022 have been around the same range (+19.31% to +20.79%). As a result, we expect another minimum +19.33% (from the October bottom). Along with the (dotted) Channel Up top, which gives us a first Target at 4700, that +19.33% expectation gives a second long-term target at 4900, which would be above the 4820 (Jan 04 2022) All Time High (ATH). The latter Target will also make a perfect Higher Low at the top of the Diverging (dashed) Channel Up and hit the 1.618 Fibonacci extension (as all previous rally did), while the former (Target 1) will price a Higher High on the (dotted) Channel Up. As a result, if the index enters a consolidation for a few days within the orange ellipse pattern (as it did during April 2023 and November 2022), it will give you another opportunity to enter in case you missed the rally from its start. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500Long
by TradingShot
S&P500 Cup and Handle paid off. Now brace for Xmas rally.The S&P500 index (SPX) fulfilled our previous Cup and Handle (C&H) pattern, as even though it had a week closing below the 1W MA50 (blue trend-line), it eventually bottomed and has since been on a 3-week rebound that broke above the Handle, turning the 1D MA50 (red trend-line) into a Support again. Perhaps the strongest technical development of the week is the emerging formation of a Bullish Cross on the 1W MACD. Historically those are formed in the middle of strong rallies, even during a Bear Cycle correction (such as on July 18 2022). Even though a 1 week correction similar to the October 31 2022 1W candle is possible, we expect a new All Time High (ATH) at 4900 (Target 2) at least, as every rally since the October 10 2022 market bottom, has completed at least a +20.19% rise. Even on the short-term, we expect a 'Christmas rally' to test the bottom of the ATH Zone at 4700 by the end of December, assuming the 1D MA50 of course supports. Our longer term perspective has the psychological 5000 target in frame as it is slightly below the 1.5 Fibonacci extension from the July 24 High. This projection is made based on that July 24 High itself, which was been on the 1.5 Fib extension from the January 30 High. Are you looking for a 1 week pull-back to buy or you are already on board for a 'Santa rally'? ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:SPXLong
by TradingShot
2
S&P500 and VIX. A tale of two opposites.It's no secret that the stock market and in this particular example, the S&P500 (chart on the left), is negatively correlated to the Volatility Index (chart on the right). What we do want to bring to your attention however is how tightly this correlation has been in the past 12 months with VIX's Falling Wedge having the price on its middle, almost on perfect symmetry with the S&P's Bullish Megaphone. See the recurring sequences within both patterns (tops/ red, bottoms/ greens, consolidations/ blue arcs) and how inversely correlated they are. Right now VIX is headed for its Support where it ends to rebound and consolidate for around 1 month, before sharply declining for a new Lower Low. Similarly we expect the S&P500 to rise some more before peaking for the short-term, then pull-back to consolidate and then stage an aggressive end-of-the-year rally. Can it repeat a +20% rally as the previous 2 rally legs of the past 12 months? Doubtful, but potentially taking profits when VIX bottoms is certainly a good indicator to have in mind. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:SPX
by TradingShot
2
S&P500 That's the longest correction since 2011.More pain ahead?S&P500 (SPX) has been on a correction mode since the week of July 24, completing 13 straight weeks (91 days) of pulling-back without a 50% retracement. As you can see on the charts above, which are on the 1W time-frame, this is the strongest such correction since October 03 2011, which stretched for 21 weeks. Even the recent Inflation Bear Cycle of 2022 had three separate correction phases of no more than 11 weeks. In total since 2011 there have been 12 such corrections (including the current), so we can realize just how long this one has gone without at least a 50% Fib retracement. This may indicate that potentially we are at or near the bottom. On the downside, it did break and close this week below the 1W MA50 (blue trend-line) and the next Support in line is the 1W MA200 orange trend-line) at 3940. Do you think it's time to rebound to the 0.5 Fib or the index 'needs' to technically reach the 1W MA200 first? ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:SPX
by TradingShot
9
S&P500 The most important test for a long-term uptrend is now.The S&P500 had a strong rejection on the 1D MA50 (blue trend-line) and made a 3 day bearish streak that brought it today on the verge of testing the 1D MA200 (orange trend-line) yet again. The last time it made a triple test between 4 days October 03 - 06) and managed to close all candles above it. As a result, if the S&P500 is to recover, it is critical to hold candle closings above or at least near the 1D MA200. To get a better perspective of the important of the 1D MA200 during uptrends, it is useful to look at previous such corrections that didn't end up in deeper corrections (Bear phases) but instead extended the bullish trend with rebounds on the 1D MA200. Such recent examples (besides the COVID recovery in 2020) are 2019 and 2018. In 2019 after two 1D candle closings under it (May 31, June 03 2019), the 1D MA200 held multiple times in July and September. Similarly in 2018, only two days (March 23 and April 02 2018) closed marginally below the 1D MA200 in multiple tests. Bottom-line: the index MUST hold the 1D MA200 in order to overcome the 3 month correction since July and resume the long-term bullish trend it has since the start of the year. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500
by TradingShot
2
S&P500 Giant Cup and Handle completed? 5000 realistic now?The S&P500 index (SPX) has been trading within a Channel Down since the mid-July High. Last week though made a strong reversal on the 1W MA100 (green trend-line) and the 1D MA200, closed the candle in green and is about to do so again for the 2nd straight week today. Ahead of a 1W MA50/100 Bullish Cross (the first in 7 years), this Channel Down can be interpreted as nothing more than the Handle of a Giant Cup and Handle pattern. We can argue that the whole Inflation Crisis of 2022 has been a Cup and Handle with the subsequent market recovery. The breaking of the 1W RSI Higher Lows trend-line indicates on the macro level a shift to a new, less aggressive trend, as the 2023 rally isn't easily sustainable without more fundamental catalysts. As a result, as long as the MA Support Cluster holds, we resume being bullish long-term. Target 1 is 4700 (bottom of the All Time High Resistance Zone) and by Q2 2024 Target 2 at 5000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:SPXLong
by TradingShot
3
S&P500 Potentially made the biggest rebound of the next 12monthsWe have shown numerous times that the S&P500 (SPX) was in a 2.5 month Channel Down/ corrective move but all within the larger Channel Up pattern, which keeps the long-term trend bullish ever since the bottom recovery last October (2022). Much like that bottom which was formed by the rebound on the 1W MA200 (orange trend-line), 12 months after (October 2023), the index may have just made the most important rebound for another 12-month period. What was the 1W MA200 then, is the 1W MA100 (green trend-line) and 1W MA50 (blue trend-line), which are about to form a Bullish Cross, the first since September 2016. In fact last week's candle hit the 1W MA100 and rebounded immediately, almost closing the body candle flat, leaving a large wick underneath it, an even stronger reversal than even the October 10 2022 1W candle. If that wasn't enough, the index hit (and as mentioned rebounded) the Former Resistance Zone of May 2022 through May 2023. In times of such transitions from a Bear to a Bull Cycle, we see the market technically testing former Resistances to make Demand Zones and turn them into Support levels. On top of that, this week the index just entered into green Ichimoku Cloud territory for the first time since September 05 2022. All this while the 1W RSI bounced off a 18 month Higher Lows trend-line. It is obvious that if this 5-level Support Zone holds, it can extend the 12-month Channel Up pattern to its next Higher High. Assuming a similar to the previous two bullish legs, +20% rise leg will take place, we expect the S&P500 to target 5000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500Long
by TradingShot
8
S&P500 It is very important that this Support Cluster holds.The S&P500 (SPX) is testing the bottom (Higher Lows trend-line) of the 12-month Channel Up pattern. It is vital for the uptrend that the following Support Cluster holds, as if broken, the next Demand/ Support Zone is seen considerably lower, in the low 3800s. Back to the Support Zone. Besides the bottom of the Channel Up, we have the 1D MA200 (orange trend-line) moving parallel to that and has been unbroken since March 24. More importantly, the 1W MA100 (yellow trend-line) a former Resistance turned into Support after May's break-out, is marginally below the 1D MA200 and on a former Resistance Zone, which in the past 18 months, only broken twice. As long as the price closes 1D candles above this critical Support cluster, we expect a short-term (at least) rise to test the top of the Channel Down and the 1D MA50 (blue trend-line) at 4430. If the Support fails, expect a greater and perhaps quicker/ more aggressive decline towards 3830 and the former Support Zone. Notice how the 1D RSI pattern resembles the August - September 2022 correction. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500
by TradingShot
5
VIX and S&P500 This is why stocks may rise now.Following yesterday's green stock market reaction, we compare on today's analysis VIX (Volatility Index) to the S&P500 (SPX) price action on the 1D time-frame. Our goal is to find clues to how the Volatility Index can affect the stocks. As you can see, VIX is trading within an Ascending Triangle which 2 days ago got rejected on its top (Higher Highs) trend-line. All this while its Lower Highs trend-line since September 2022 (1 year back) sits right above it. At the same time the S&P500 index found the bottom (Lower Lows trend-line) of its Channel Down (while the Higher Lows trend-line since the October 2022 market bottom sits right below) and on first impression appears to be rebounding. Being negatively correlated, the more VIX drops, i.e. market volatility calms/ decreases, the more likely it is for the stock market to rise, at least for the short-term towards the Channel Down top (similarly VIX to the Triangle's Support). In order to see it resume the long-term bullish trend, VIX most likely needs to break its Support. It is not unlikely as the market may respect the long-term Lower Highs (similarly Higher Lows for SPX) and hold it as new rejection point, but for the time being we have to keep our perspective on the short-term patterns (Ascending Triangle and Channel Down respectively) until shown otherwise. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:VIXShort
by TradingShot
4
S&P500 Entered the 2 year High Supply/Demand Zone. Will it hold?Time to leave the short-term charts for S&P500 (SPX) aside and look again at the long-term ones as the price failed last week to recover the 1D MA50 (blue trend-line) and is extending this week the decline towards the 1D MA200 (orange trend-line). ** Higher Lows and 2-year Supply/ Demand Zone ** It hasn't yet hit the Higher Lows trend-line that started on the October 13 2022 market bottom but has entered a 2 year High Supply/ Demand Zone, which has acted as the strongest Pivot Belt since October 2021, with 4 registered holds (green arrows) and 4 rejections (red arrows). It is clear that the market considered it a key during the previous Bear Cycle as well as the Bull Cycle. ** Inflation Crisis vs Subprime mortgage Crisis ** As you can see on the chart, we compare this Inflation Crisis price action with the bottom and subsequent recovery of the Subprime mortgage crisis in 2009 - 2010. The curved bottom on the 1D RSI suggests that we are so far aligned to a certain extent with the first susbtantial correction of the recovery which on May 06 2010 hit (and breached) the 1D MA200. The bottom was priced 2 months later on the 0.382 Fibonacci retracement level. ** So what now? ** The 0.382 Fibonacci on today's sequence is on 4185, marginally above the bottom of the Pivot Zone and almost where the 1D MA200 is currently. This presents us with the probability that if the Higher Lows fails and the 1D MA200 breaks, the market has high chances to consider the bottom of the 2-year Pivot Zone as a High Demand level again. If that happens, we will be buyers for as long as 1D candles close above the bottom of the Zone. Based on the 2009 - 2010 price action, it can rise towards the -0.236 Fib ext and reach the 4820 All Time High (ATH) by Q2 2024. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:SPX
by TradingShot
6
S&P500 Ascending Triangle giving a bottom buy signal.The S&P500 index (SPX) gave us last week an accurate quick buy signal (see chart below) but then got sold-off to a new 3-week Low: The price hit yesterday during that sell-off the bottom (Higher Lows trend-line) of the Ascending Triangle pattern that is in place since the August 04 High (which created its 4540 top/ Resistance). This is a short-term buy signal and will be confirmed if the 4H MACD completes the emerging Bullish Cross. The immediate Resistance is the 4H MA50 (blue trend-line) - 4H MA200 (orange trend-line) Zone and the short-term is the Lower Highs trend-line since the September 01 High. That will be our target, aiming at a +1.77% rise (proportionally less than the previous) at 4490. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500Long
by TradingShot
1
S&P500 Short-term buy within the weekly Channel Up.The S&P500 (SPX) hit today the 1H MA200 (orange trend-line) for the first time since September 06, which was before the current 5-day Channel Up pattern. So far it delivers an initial rejection, whose pull-back can extend even below the 1H MA50 (blue trend-line). Based on the 1H RSI though, which is posting a sequence similar to September 07 - 08, we are close to the reversal point, making it already a buy opportunity. You can confirm that after the price closes a candle above the 1H MA200. Regardless, our target is at the end of a +1.27% increase and the top of the Channel Up at 4500. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500Long
by TradingShot
3
S&P500 Huge buy signal confirmedFollowing last week's buy signal (chart below) on the S&P500 index (SPX), we shift our attention on the 1W time-frame where the new long-term buy signal has just been confirmed: As you see, the price closed above the 1D MA50 (red trend-line) yesterday, invalidating any bias for further decline and confirming the resuming of the long-term bullish trend within the Channel Up pattern since the October 2022 bottom. The 1W RSI rebounded exactly on its Higher Lows trend-line, giving a strong bottom signal where previous rebounds have been completed at least a +9.85% rise. As a result, we update our long-term target to 4750. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500Long
by TradingShot
4
S&P500 Target achieved. Now looking for a rebound.The S&P500 index (SPX) hit our 4350 Sell Target that we set on last week's idea (see chart below) and immediately started a two day rebound: This rebound is taking place just above the 1D MA100 (green trend-line), with the 1D MA50 (blue trend-line) as the Resistance. We've mentioned countless times that the long-term pattern is a Channel Up since the October 13 2022 market bottom and this rebound is taking place after the 1D RSI hit the 33.30, which was the level where the March 13 bottom was priced. As a result, the current level is a strong candidate for a new long-term buy, targeting 4640 (March 29 2022 High), despite the fact that the previous two correctional waves to a Lower Low declined at least by -9.00%. The bullish confirmation will come when the 1D MACD makes a Bullish Cross. It just touched the top of its 9 month Support Zone. If however the price closes a 1D candle below the 1D MA100, we will add a sell for short-term profit, targeting the 1D MA200 (orange trend-line) at the bottom of the Channel Up at 4220 (just above a projected -9.00% decline) and then add a second (and final) buy that will naturally target 4640 as well. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500Long
by TradingShot
S&P500 On the 1D MA50 after 3 months. Will it hold?Last week we gave a sell continuation signal on the S&P500 index (SPX) after the price failed to break above the short-term Resistance of 4H MA50 (see chart below): As the price hit the 1D MA50 (blue trend-line) last Thursday for the first time in 3 months, the index found its first long-term Support level. Along with being near the bottom (Higher Lows trend-line) of Channel Up 2 (dotted pattern within the multi-month Channel Up 1), we can attempt the first buy position again and target 4640 (March 29 2022 High). This is a similar situation as May 24 and May 04 (blue circles). If a 1D candle closes below it though, we will be quick to take the loss and sell the break-out towards the 1D MA100 (green trend-line) at 4350. That is the second long-term Support level, which if broken opens the way for the final one, the 1D MA200 (orange trend-line). The most optimal long-term buy entry will be if the 1D MACD makes a Bullish Cross within the 2023 Support Zone. Potentially that could be near the 1D MA200 and the bottom (Higher Lows trend-line) of Channel Up 1. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500
by TradingShot
3
S&P500 Still bearish unless the 4H MA50 breaks.The S&P500 index (SPX) is within a corrective wave in the form of a Channel Down, which may have found a Support on the 4H MA200 (orange trend-line) but as long as it trades below the 4H MA50 (blue trend-line), it remains bearish. As a result our target is 4430 on a potential contact with the 1D MA50 (red trend-line). If however it closes a 4H candle above the 4H MA50, we will buy instead and target 4600 (just below Resistance 1). The 4H RSI Higher Lows (which is a bullish divergence in contrast to the Lower Lows of the Channel Down), favor this scenario. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500Short
by TradingShot
1