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S&P500 - The Maker Of Kings (and bull runs) 👑After one of the biggest rallies since 2020, we take a look at the SP500 Daily chart. We've thrown on our US equity gap & stock market breadth indicator to show some potential price targets. It’s looking like we might be after the 4100 gap before falling to the 3400 gap. The breadth indicator buying (bottom indicator in screenshot) hit numbers similar to 2020 during Covid crash/rebound. Which could drive us back up to 4100 IF the bulls keep showing up like they did today. 🐂 If 4100 is on the way first, then the bears need to come back in hard to drive to new lows. Until Fed comes in to save the day & money printers are engaged, I don’t think we’ve seen the worst of it. Right now they’re still slow controlling the bear market. Still waiting for an “event” or “oh boy moment” to pull the rug. We shall see. Stay safe & eyes peeled! -TucciNomics Chief Overlord, AlgoBuddy
SP:SPX
by QuantVue
SPX Daily TA Neutral BullishSPXUSD daily guidance is neutral with a bullish bias. Recommended ratio: 60% SPX, 40% Cash. * October CPI rose 0.4%, the same increase as in September ; but what moved markets was that Core CPI rose 0.3% compared to 0.6% in September. Such an impulsive rally after one dovish CPI print is hardly sustainable in a bear market; however, if the UofM Sentiment Survey tomorrow is bullish and Russia renews their grain deal with Ukraine on 11/19, this rally may be able to continue into the PCE report on 12/01. Equities finished up in today's session and Equity Futures, Oil, Agriculture, DXY, Long-Term US Treasuries, HSI, NI225 and CNYUSD are up. Cryptos are correcting after many experienced a ~20% rally in today's session. VIX, Natural Gas, Gold, JPYUSD, GBPUSD and EURUSD are down. Russia ordered their citizens to evacuate Kherson City in anticipation of a Ukrainian shelling that would level the whole city, this of course is probably another False Flag operation because Ukraine likely has no interest in destroying their own infrastructure. Ukrainian military officials cast their doubts over such a retreat and think it's a ploy to lure Ukrainian soldiers into a central location to maximize inflicted damage. Key Upcoming Dates: UofM November US Consumer Sentiment Survey at 10am EST 11/11; Fourth GDPNow Q4 GDP estimate 11/16; Russia/Ukraine Grain Deal Expiration on 11/19; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30; October PCE Index at 830am EST 12/01; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14 . * Price finished today's session trending up at $3956, it's still technically testing $3913 minor resistance and will need to close above it in tomorrow's session to help confirm bullishness; considering that Price appears to be legitimately breaking above the 50MA for the first time since 07/19, it may test it as support before continuing higher. Volume finished the session High (moderate) and obviously after a bullish CPI when inflation is the number one market focus, it favored buyers; Price is trading in the second largest supply/demand zone on the chart. Parabolic SAR flips bearish at $3700, this is mildly bearish at the moment. RSI is currently trending up at 60 with no signs of peak formation as it approaches a retest of $4058 minor resistance. Stochastic resisted a bearish crossover in Wednesday's session and is currently trending up at 60, it's still technically testing 48 minor resistance. MACD remains bullish after also resisting a bearish crossover in Wednesday's session and is currently trending up at 21 as it attempts to confirm a break above 11 minor resistance. ADX is currently beginning to form a trough at 17 as Price has been pushing higher, this is mildly bullish at the moment. If Price is able to flip $3913 minor resistance to support then the next likely target is a retest of $4058 minor resistance . However, if Price breaks down below $3913 minor resistance , it will likely retest ~$3855 as support before potentially falling lower to test the 50MA as support at ~$3800 . Mental Stop Loss: (two consecutive closes below) $3913.
SP:SPX
by dailytaguy
Nifty Levels & Strategy for 11/Nov/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading. NIFTY Profit booking pushed Nifty to major support levels. Bulls attempted tried hard to recover and Nifty closed above 18000 psychological level. Let us consider today's move as profit booking. We should continue to book profit in long positions near major resistance levels marked in the chart and work level by level. Option writers are really enjoying the theta decay. Good luck to option buyers (take directional trade only when market pick-up the momentum & you get a good trading setup). Please find below Nifty scorecard with long as well short option positions details. NIFTY SCORECARD DATED 10/NOV/2022 NIFTY IS DOWN BY -129 POINTS Name Price Previous Day Change % Change Nifty 18028 18157 -128.80 -0.71% India VIX 15.57 15.92 -0.35 -2.18% OPTION STATISTICS BASED ON 17/NOV/2022 EXPIRY DATA Max OI (Calls) 19000 (Open Interest: 9282300, CE LTP: 2) Max OI (Puts) 18000 (Open Interest: 6997050, PE LTP: 110) PCR 0.79 (PCR is in bearish zone) Nifty Calls: ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup Nifty Puts: ATM: Long Buildup, OTM:Long Buildup, ITM:Short Covering, FAR OTM:Short Buildup
NSE:NIFTY
by manishmgupta
Selling Coinbase slightly above previous support.Coinbase - 30d expiry - We look to Sell at 62.28 (stop at 67.21) Our bespoke support of 60.00 has been clearly broken. Previous support at 60.00 now becomes resistance. Daily signals are bearish. We are trading at oversold extremes. There is no clear indication that the downward move is coming to an end. This stock has seen poor sales growth. The primary trend remains bearish. Our profit targets will be 50.51 and 48.51 Resistance: 55.00 / 60.00 / 63.50 Support: 50.00 / 46.00 / 40.80 Daily chart Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis , as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
NASDAQ:COINShort
by Saxo
SPX Daily TA Neutral BullishSPXUSD daily guidance is neutral with a bullish bias. Recommended ratio: 55% SPX, 45% Cash. * CRITICAL RESISTANCE WATCH . US midterm elections are tomorrow and the Republicans appear poised to take the House and Senate, if this happens then a short-term rally would likely ensue leading up to the CPI report on Thursday. Equities, Equity Futures, Cryptos, Metals, US Treasury Bonds, VIX, GBPUSD, EURUSD and JPYUSD are up. DXY, CNYUSD, Energy and Agriculture are down. Key Upcoming Dates: US Midterm Congress Elections 11/08; Third GDPNow US Q4 GDP Estimate 11/09; US October CPI at 830am EST 11/10; UofM November Consumer Sentiment Survey at 10am EST 11/11; Russia/Ukraine Grain Deal Expiration on 11/19; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14 .* Price is currently retesting the lower trendline of the descending channel from July 2021 at ~$3775 as resistance which is just below the 50MA (~$3800). Volume is currently Moderate (moderate) and on track to favor buyers for a second consecutive session if it can close today's session in the green. Parabolic SAR flips bullish at $3900, this margin is mildly bullish at the moment. RSI is currently trending up slightly at 50 as it approaches a test of 52.68 resistance. Stochastic remains bearish and is currently beginning to form a trough at 27, the next support is at 18.32. MACD remains bullish and is currently trending sideways at 6.5, it's still technically testing 10.73 minor resistance but if it crosses below 0 it would be a bearish crossover (there are two support levels just below at -5 and -11). ADX is currently trending down slightly at 18.5 as Price attempts to push higher, until a trough is formed this correlation is mildly bearish. If Price is able to recapture support at the lower trendline of the descending channel from July 2021 at ~$3775 and break above the 50MA at ~$3800 as resistance , then it will likely aim to retest $3913 minor resistance . However, if Price is rejected here, it will likely retest $3658 minor support . Mental Stop Loss: (two consecutive closes below) $3770.
SP:SPX
by dailytaguy
Selling COIN in a range.Coinbase - 30d expiry - We look to Sell at 73.48 (stop at 78.66) The primary trend remains bearish. Price action continued to range between key support & resistance (60 - 74) although we expect a break of this range soon. The bias is to break to the downside. We look for a temporary move higher. 73.78 has been pivotal. Preferred trade is to sell into rallies. Our profit targets will be 61.02 and 57.02 Resistance: 67 / 74 / 80 Support: 60 / 56 / 50 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis , as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
NASDAQ:COINShort
by Saxo
ABN continues to rise after a double bottom.ABN Amro Bank - 30d expiry - We look to Buy a break of 9.63 (stop at 9.29) Prices have reacted from 8.69. Posted a Double Bottom formation. Short term momentum is bullish. There is no clear indication that the upward move is coming to an end. A break of the recent high at 9.62 should result in a further move higher. Our profit targets will be 10.44 and 10.84 Resistance: 9.60 / 9.80 / 10.20 Support: 9.40 / 9.20 / 9.00 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis , as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
EURONEXT:ABNLong
by Saxo
EasyJet to fly?EasyJet - 30D expiry - We look to Buy a break of 311.1 (stop at 288.8) We are trading at oversold extremes. The trend of lower highs is located at 370. The previous swing high is located at 375. We look for a temporary move higher. There was little net movement as we continue to consolidate within the 280 - 310 range. Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. The bias is to break to the upside. Our profit targets will be 369.6 and 379.6 Resistance: 310 / 350 / 380 Support: 280 / 250 / 220 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis , as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
LSE:EZJLong
by Saxo
Selling STM at 61.8% pullback.ST Micro Electrics - 30d expiry - We look to Sell at 38.14 (stop at 39.33) Resistance could prove difficult to breakdown. Bespoke resistance is located at 38.00. 38.44 has been pivotal. 39.21 has been pivotal. Levels close to the 61.8% pullback level of 38.91 found sellers. Our profit targets will be 35.14 and 34.14 Resistance: 35.00 / 36.00 / 38.00 Support: 33.80 / 33.00 / 32.00 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis , as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
SShort
by Saxo
Bargain Hunting - OBV Divergence?This is just a thought here - although this appears to be a never-ending downtrend, I wonder if this on-balance volume divergence signals something. This shows that buyers are willing to step in here a bit more aggressively than the previous "bottom," as shown by higher OBV despite lower prices - even though OBV has declined overall since its peak. We're also seeing higher OBV in general since 2021, which could signify aggressive accumulation despite continued decline in value. This sort of behavior can be seen throughout the cannabis industry. ACB is roughly 98-99% down from its all-time high. Not that it could ever get back up there, but I think at least a return to the $6-7 range is possible over the coming months. However, since the downtrend has technically not ended, there is still significant risk of continuation to the downside. Seems worth a speculative gamble though, as per my last stock analysis and being "strategic." Overall, I'm only down 12% on stocks since I started investing slowly since last year. Not too bad, considering how far down big tech has tumbled. That's probably because I've stayed away from big tech, and been pretty careful about investing too much in weed stocks, at least until prices started to get obscenely low. I also managed to stabilize my portfolio by investing in Uranium ETF's, which helped a bit. -Victor Cobra
NASDAQ:ACBLong
by VictorCobra
LYTS - Slow Growth/Fast Growth + Strategic InvestingAs I've finally started working full time again, I'm trying to develop an investing strategy that works for me moving forward. Because I've been fairly good with my own trades and finances over the last several years I decided to continue managing my own portfolio for now. Currently, here is my strategy for investing in companies. It's really just a 3-step process: 1) What is likely to become cheaper and experience innovation in the coming years? Example answer: Energy (innovations in sustainable green energy). Here, I'm pricing in future expectations - say, 10 years from now. 2) As the above becomes cheaper, which industries are likely to improve efficiency and profit margins? Example answer: lighting 3) Research: Which established companies are positioned well in the above industry to take advantage of cheaper resources: Exmaple answer: LSI Industries The importance here is for me not to invest in things that are likely to get LESS expensive, but invest in companies and industries that are likely to PROFIT from things getting cheaper. Another example: 1) Weed/psilocybin becomes cheaper + less regulation 2) Companies that use these commodities in products 3) Research mental health services, and wide-ranging companies that USE marijuana, not companies that purely grow it. Example: Aurora Cannabis - 99% down from the highs, and sells indoor cultivation systems in addition to selling cannabis products. Selling cultivation systems is like investing in the shovel. A bad example (yes, I'm going to trash Bitcoin again): 1) Energy becomes cheaper over time 2) Proof of work cryptocurrencies? 3) No longer unique, no longer hard to acquire. Many 'greener' options flood the market, increasing the supply of cryptocurrencies endlessly. Crypto does NOT have a finite supply because infinitely new cryptocurrencies can be created. As energy becomes cheaper, it becomes cheaper to make new cryptocurrencies. Although Bitcoin supply is low, miners may be able to sell at lower prices once it becomes much cheaper to mine. From the demand side, the market may not be willing to purchase Bitcoin at higher prices, leading me to believe there is a decent chance it never makes a significant new high above $69k. Now, looking at the chart for LSI industries, I have marked a couple resistance levels and a major support trendline, with major horizontal support around $5. Currently, the asset has been experiencing slow growth, but I think there is a possibility it enters a period of accelerated growth, due to decades of consolidation. Walking around New York City, I've also noticed the importance of lighting, and how it's changed over the last several years. Let's see what happens! If LYTS breaks below the rising support and particularly the $5 level, the trend could look a little more concerning. This is meant for speculation and entertainment only! Here I am documenting my own strategy. Let's see if it has any merit. -Victor Cobra
NASDAQ:LYTSLong
by VictorCobra
US Stock Market Update Nov 4thStock Market Extends Losses Ahead Of Jobs Report - Tech Giants Continue To Struggle The stock market ended lower ahead of Friday's jobs report, as the major stock indexes continued to fall after Wednesday's Fed-fueled sell-off. Tech titans continue to suffer severe losses. Jobs Report, Treasury Yields Friday's jobs report is already predicted to be the softest since December 2020, with the U.S. economy expected to add 210,000 jobs. Yet there's reason to think it may turn out far weaker — perhaps even bad enough to provoke some rethinking about Fed chief Jerome Powell's rally-killing rate-hike plans. Stock Market On Thursday, the Dow Jones Industrial Average fell 0.5%, while the S&P 500 dropped 1.1%. The tech-heavy Nasdaq composite lost 1.7%, and the small-cap Russell 2000 declined 0.5%. Volume fell on the Nasdaq vs. the prior session, and also appeared to be lower on the NYSE. Lower volume means the Nasdaq and S&P 500 both avoided another distribution day. Tech titans continued to struggle. Amazon lost 3.1% Thursday in big volume. The e-commerce giant is down about 46.4% year to date, on pace for its worst year since 2000, when it crumbled 79.6%. Alphabet (GOOGL) tumbled 4.1%. Apple (AAPL) declined 4.2%. Meta Platforms (META) fell 1.8%. And Microsoft (MSFT) sold off 2.7%. Amazon, Alphabet, Meta and Microsoft hit new 52-week lows. At this point, investors should be playing defense; don't let profitable trades turn negative. Be cautious of the high risk in the current market. With key reports coming out and the reporting season still ongoing, swing-traders have to be aware of the increased level of volatility.
Long
by JS_TechTrading
"Put"ting An End To The Bear Market with GannI have been bearish since Feb 7, 2022, with a long-term price target of the pre-Corona high, as evidenced in the attached chart "Sound of bubbles bursting" Feb 18 . I have been using 3 month dated Near the Money Puts on the QQQ. But what I wanted to share was the use of Gann and the excellent Candlestick recognition in TradingView. I was looking at tripling down on my Put activity today and performing all kinds of analysis. But what caught my eye was the excellent Gann Box tool. I studied Gann as part of my IFTA Certified Financial Technician exams but was not a big believer. But see the GANN plot on this chart, wow does it fit perfectly? See how the boxes and fans correlate with the bear market waves, both pullbacks and bear market rallies. It also matches well with my Dec 30 put targets. Also, I want to congratulate the TV team on their Candlestick recognition; it is a great time saver. I also love how it updates in real-time on a 1-minute chart. Well, that's it from me; suffice it to say: We are in a bear market. Until there is complete capitulation, and all the good economic news turns bad, we will stay in a bear market. My next price target is the Pre-pandemic high. If you like this, like and follow for further market updates. Best of luck Barry
NASDAQ:QQQShort
by liberatedstocktrader
2
SPX Daily TA Cautiously BearishSPXUSD daily guidance is cautiously bearish. Recommended ratio: 30% SPX, 70% Cash. * The Fed stayed on their path of moving to restrictive monetary policy and raised the funds rate by 75bps to 3.75%-4% . DXY, US Treasuries and Agriculture are up while Cryptos, Equities, Equity Futures, Metals, Energy, CNYUSD, JPYUSD, GBPUSD and EURUSD are all down. Fed Chair Powell mentioned that more rate hikes are to come but that they would likely consider slowing the rate of increases in the coming meetings. FFR speculators are currently betting on a 50bps rate hike on 12/14/22 but economic data between now and then may force the Fed to contemplate another 75bps. In timely fashion, Russia resumed its arrangement with Ukraine to allow them to use Black Sea shipping corridors for grain and fertilizer shipments but Putin mentioned that they can withdraw again if Ukraine "breaches the deal" by striking Russia in these corridors. Putin also mentioned that in this situation, Russia would supply the poorest countries with grain from their own stock; he also stated that Russia would stop short of blocking Ukraine grain shipments to Turkey. In Israel, right-wing former PM Netanyahu is expected to be reelected as PM in the coming days. Speculators see this as as a positive counter to Iran's recent support for Russia and revival of their nuclear missile program but a negative for Palestinian peace talks . Key Upcoming Dates: October Employment Situation at 830am (EST) 11/04; US October CPI at 830am EST 11/10; UofM November Consumer Sentiment Survey at 10am EST 11/11; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30.* Price is currently testing the lower trendline of the descending channel from August 2021 as support at ~$3780 after getting rejected by $3938 minor resistance and breaking back down below the 50MA (~$3825). Volume remains High (low) and has favored sellers the past three consecutive sessions; Price was rejected by the POC (VP) at around $3938 minor resistance. Parabolic SAR flips bearish at $3688, this margin is mildly bearish at the moment. RSI is currently trending down at 48.5 and is at risk of losing 52.68 support if it doesn't bounce soon, the next support is the uptrend line from January 2022 at ~43 as support. Stochastic remains bearish after a failed bullish crossover attempt and is currently testing 76.29 support. MACD remains bullish and is currently trending down at 15.5 as it continues to technically test 10.73 minor resistance. ADX is currently trending down at 20 as Price attempts to keep pushing higher, this is mildly bearish at the moment. If Price is able to bounce here then it will have to reclaim support of the 50MA at ~$3825 before it is able to formally retest $3938 minor resistance . However, if Price breaks down here, it will likely retest $3658 minor support . Mental Stop Loss: (two consecutive closes above) $3825.
SP:SPX
by dailytaguy
Bank Nifty Levels & Strategy for 01/Nov/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading. BANK NIFTY Bank Nifty sustained at higher level after initial gap up & mild profit booking. Today, retailed traders were rewarded due to their overnight highly bullish stance. Retailed traders have now taken highly bearish stance for tomorrow's trade which is exactly opposite to what big players have done today. FIIs continued with heavy buying in cash as well as F&O. Is Bank Nifty heading towards it's new lifetime high????? Is Bank Nifty going to sustain at higher levels in coming days????? Please do share your thoughts. Overall, market breadth is positive and it looks like any decent dip due to FOMC meeting/RBI's meeting in first week of Nov is going to be a buying opportunity. Please find below scorecard and quick update about F&O positions, PCR & India VIX. BANK NIFTY SCORECARD DATED 31/OCT/2022 BANK NIFTY IS UP BY 317 POINTS Name Price Previous Day Change % Change Bank Nifty 41308 40991 317.05 0.77% India VIX 15.80 15.92 -0.12 -0.75% OPTION STATISTICS BASED ON 03/NOV/2022 EXPIRY DATA Max OI (Calls) 41500 (Open Interest: 2743200, CE LTP: 247.6) Max OI (Puts) 41000 (Open Interest: 1977000, PE LTP: 203) PCR 0.9 (PCR is in bearish zone) Bank Nifty Calls: ATM: Long Buildup, OTM:Short covering, ITM:Short covering, FAR OTM:Long Buildup Bank Nifty Puts: ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup
NSE:BANKNIFTY
by manishmgupta
SPX Daily TA Neutral BullishSPXUSD daily guidance is neutral with a bullish bias. Recommended ratio: 55% SPX, 45% Cash. * CRITICAL RESISTANCE TEST . US Midterm elections take place in a little over a week (11/08) and markets are bracing for the FOMC statement on FFR at 2pm on 11/02. Equity Futures are down while Cryptos are mixed and seeing a case of the Sunday Scaries. The Nikkei 225 and Hang Seng are currently up so it gives a bit of hope to US equities in the morning. Russia continues with its pause on the Black Sea grain deal which puts food supply chains at risk in the coming months leading into winter. As Elon Musk's Twitter deal completes, Twitter is to begin charging $20 a month for the blue check (account verification) . Brazil elects left-wing underdog Lula as President after serving two terms as Brazil's President from 2003-2010. Key Upcoming Dates: 2nd GDPNow US Q4 GDP estimate 11/ 01 ; FOMC Statement at 2pm EST 11/02; October Employment Situation at 830am (EST) 11/04; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30.* Price is currently breaking back above the 50MA and is trending up at ~$3900 after bouncing off of the lower trendline of the descending channel from August 2021 at ~$3790. Volume remains High (low) and has favored buyers in five of the past six sessions as Price tests the Point of Control (VP) at $3915 as resistance. Parabolic SAR flips bearish at $3600, this margin is mildly bearish at the moment. RSI is currently trending up at 60 after bouncing off of 52.68 support, the next resistance is at 68.42. Stochastic remains bearish in the "bullish autobahn zone" for two consecutive sessions and is completing a trough formation at ~89.5, it would experience a bullish crossover at ~90 where it would then likely retest max top. MACD is currently trending up at ~6.8 with no signs of peak formation as it approaches a test of 10.73 minor resistance for the first time since July 2022; it's also still technically testing the weak uptrend line from March 2020 at around -11.45 resistance. ADX is currently beginning to form a trough at 23 as Price pushes higher, this is mildly bullish at the moment. If Price is able to keep pushing higher then it will likely formally retest $3938 minor resistance before potentially retesting the 100MA at ~$4100 as resistance . However, if Price breaks down here then it will likely test the 50MA at ~$3840 as support . Mental Stop Loss: (one close below) $3780.
SP:SPX
by dailytaguy
2