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SPX Daily TA Cautiously BullishSPX Daily cautiously bullish. Recommended ratio: 69% SPX, 31% Cash. * The US Jobs Report came out this morning and 372,000 jobs were added in June which essentially recovers almost all of the jobs lost due to the pandemic (~23m) , the unemployment rate remained at 3.6% for the fourth month in a row. A technical recession is defined by the combination of declining economic growth and employment ; so according to the textbook we are not yet in one because unemployment is still low and credit is still relatively healthy(?). How reliable the employment data is and how effective the models used to analyze them are arguable but as it stands now, the growing number of layoffs hasn't hit the job market yet. Even though they are both connected, markets seem to have shifted their focus from inflation to Q2 corporate earnings as a means of determining how much of an economic slowdown we are to expect (which would determine if we end 2022 with a federal funds rate above 3.5% - it is currently at 1.58%). Russia continues to avoid Western sanctions and boost their Ruble by fortifying trade routes with Brazil, China, India and South Africa (amongst other countries); Donetsk and Severodonetsk are the last two major Ukrainian strongholds defending against a total annexation of the Donbas region (Southeastern oblasts) - and Russia likely won't stop there; and Russian Foreign Minister Lavrov reiterated today at the G20 Summit (before storming out) that increased sanctions are viewed as declarations of economic war.* Price is currently pushing higher at ~$3900 as it approaches the lower trendline of the descending channel from August 2021 at $3938 minor resistance. Volume remains Moderate and is currently on track to favor buyers for a fifth consecutive session if it can close today's session in the green. Parabolic SAR flips bearish at $3714, this margin is neutral at the moment. RSI is currently trending up slightly at 52 as it tests 52.68 resistance with a soft peak beginning to form. Stochastic remains bullish and is currently trending up at 98 as it approaches a test of max top where it can potentially coast in the "bullish autobahn zone" for some time. MACD remains bullish and is currently testing the uptrend line from March 2020 at -44 resistance, this is a critical resistance area. ADX continues trending down at 20 as Price pushes higher, this is mildly bullish at the moment; if ADX bounces as Price continues higher, this would be bullish. If Price is able to continue up here then it will likely face a bit more resistance at the lower trendline of the descending channel from August 2021 at $3938 minor resistance . However, if Price breaks down here, it will likely retest $3706 minor support before potentially heading lower to test $3508 support for the first time since November 2020. Mental Stop Loss: (one close below) $3815.
SP:SPX
by dailytaguy
#SPX - Market Update 7-7-22SPX Broke through the 3870 at open for a nice move and continued to melt up into our 3900 Target by close. This is a bigger momentum level here and top of the double bottom move off 3741. You have to keep in mind the market ran over 160 points now in the last three days and coming into weeks close. If 3900 doesn't hold early on we can see a quicker pullback to 3870. I would keep trades quicker for now until we get a better tell on direction. We have Non Farm Payrolls and Unemployment numbers tomorrow morning which will be a catalyst. With a bad reaction 3838 is possible. In different types of markets, you have to adjust goals based on current market conditions In an easy market you can maximize gains - In a hard market you can protect capital - 3. Choppy market you can take quicker wins, build up your account. Learn to change the way you think and you'll be able to trade thru any market Emotions can be a liability to a trading account. Stay calm and remain objective on each trade otherwise you may fail to see consistency..
SP:SPX
by MoneyFlow_Options_Community
The Dollar Hasn't Done this in 20 years! What does this mean?Hey guys, It's been a couple of weeks since I put out an update. I am seeing some interesting indicators in the market as I come back to studying these charts. Today we'll take a close look at the dollar, the vix, and we'll also jump to Bitcoin, and talk about unemployment and OIL prices. These are all valid indicators of future price action in the market and if I am reading the charts right, we should see some relief here over the next few weeks. - Stew
TVC:DXY
by stewdamus
SPX Daily TA Neutral BullishSPX Daily neutral with a bullish bias. Recommended ratio: 63% SPX, 37% Cash. * FOMC minutes were released at 2pm (EST) today and the main takeaways were: the Fed is committed to price stability and maximum employment and will take on a even more restrictive stance if inflation isn't tamed; they are most likely going to raise 75bps unless CPI comes in lower than expected or Russia/Ukraine situation improves, in this case they may raise 50; and that housing, job and credit markets are healthy as of May and the Fed thinks GDP will bounce back in Q2 - very curious to see how declining new home sales, growing gas and food prices, more layoffs and higher credit card usage will reflect on this perspective come July 27th. The current GDPnow estimate for Q2 GDP is -2.1% , and the next estimate is due tomorrow at 830am (EST). Gold + Oil + VIX + Euro are down and Equities + Treasuries + Cryptos + USD are up, markets seem to be pricing in a recession at this point. I guess it's only a real recession if the Fed says it is though.* Price is currently trending up at $3845 and forming a Bear Flag after bouncing from $3780; the next resistance is the lower trendline of the descending channel from August 2021 at $3938 minor resistance and the next support (minor) is at $3707. Volume remains Moderate and has favored buyers for the past three sessions. Parabolic SAR flips bearish at $3706, this margin is neutral at the moment. RSI is currently trending up slightly at 46, the next resistance is at 53 and support at 38. Stochastic remains bullish for a second consecutive session and is currently trending up at 84 as it attempts to flip 76 resistance to support on its way to testing to max top. MACD remains bullish and is currently trending up at -56 as it slowly approaches -44 resistance, the next support (minor) is at -76. ADX is currently trending down slightly at 22 as Price is pushing higher, this is mildly bullish. If Price is able to continue up here then it will likely retest the lower trendline of the descending channel from August 2021 at ~$3938 minor resistance . However, if Price breaks down here, it will likely retest $3707 minor support before potentially heading lower to test $3508 minor support. Mental Stop Loss: (one close below) $3780.
SP:SPX
by dailytaguy
S&P500 SHORT-TERM RALLY INCOMING !We are now expecting a short term rally to coming back into the $4,200 region to clear all trapped liquidity , Then we are expecting the next leg down to begin to target the pre pandemic lows for the long term swing lows. As we know there was a large amount of cheap money injected into the markets and as the principle dictates what the market gives easily it likes to take back + interest. On the bright side this would likley be the Reccesion bottom before we see the next economic expansion to take place and the money printers to turn on again as history indicates for the next bull market to begin where these opportunities will not present themselves for the next +30 years
SP:SPX
by cp_traders
1
Apple Analyze 🍎!!!(Timeframe 4H)I expect that 🍎 Apple 🍎will go UP at least to around 148.7$ or even near 200 SMA ( Daily Timeframe ). I specified the growth 🎯 Targets 🎯 in my chart. 🎯 Target 1 🎯: 153$ until 148.7$ (around 148.7$ , we can have a Bearish AB=CD Harmonic Pattern ). 🎯 Target 2 🎯: Around 158$ = Near 200 SMA ( Daily Timeframe ) Apple Analyze Timeframe 4H ( Log Scale /Heikin Ashi) ⏰ 🟢 Support zone 🟢: 145.1$ until 138$ Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy , this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends, Thanks, and Trade safe
NASDAQ:AAPLLong
by pejman_zwin
4
SPX Daily TA Cautiously BearishSPX Daily cautiously bearish. Recommended ratio: 20% SPX, 80% Cash. *Gold and treasuries are down, cryptos and equities are flat, USD and Oil futures are up; financial markets are still trying to price in a recession and it looks like there is still room left to fall on the Weekly chart for SPX. CPI report is due to be released on 07/13 and the next Fed funds rate hike (expected to be 75bps) is due on 07/27.* Price is attempting to avoid a retest of $3706 minor support after being rejected by the lower trendline of the descending channel from August 2021 (~$3950) and is currently trending up slightly at $3800. Volume is Low and currently on track to break a four session streak of seller dominance if it can close today's session in the green (if it closes today bullish but with Low volume this would be bearish). Parabolic SAR flips bearish at $3679, this margin is mildly bearish at the moment. RSI formed a trough at 41 and is currently trending up slightly at 42; the next resistance is at 53 and the next support at 38. Stochastic remains bearish and is currently forming a trough at 65, if it can break above 66 it would be a bullish crossover; the next resistance is at 76 and the next support at 48. MACD remains bullish and is currently trending up slightly at 67 as it is still attempting to defend -76 minor support; the next resistance is at -44. ADX is currently trending sideways at 23 as Price is currently resisting a move lower, this is neutral at the moment. If Price is able to bounce here it will likely retest the lower trendline of the descending channel from August 2021 at $3938 minor resistance . However, if Price continues lower here it will likely retest $3706 minor support before potentially heading lower to test $3508 minor support. Mental Stop Loss: (two consecutive closes above) $3900.
SP:SPX
by dailytaguy
GME yet show signs for Double in Price on Long term After Covid-19 Pandemic GME had e bubble no one expected from a single digit Stock to $486 and since then made a long correction down to this current price $145,i expect no further New low for this stock ,below $85 my analyses would be wrong ,which by other means it could be at all ,cuz we always talk from Propability based assessment ,as long as price is showing Upside potential and making Higher highs ,price could double in this Stock and reach at our honest opinion $760 ,it could happen this year ,or the new year to come . For me GME is a stock to keep an eye on ,as we are talking about Risk to reward ratio of minimum 10.to Maximum 21+.Happy Trading and Investing for All Guys .
NYSE:GMELong
by ArberHoxha
SPX500 a short updateIt is easy to guess the top but the noise are hard. All I can update is maybe we have a short term bounce to 3.9k these few days to close a gap. If we manage to break below 3.7-3.8k , then the market will have higher chance to go down further as mentioned in my idea. On the higher timeframe, If we manage to break above 4500, then My previous bearish bias will be invalidated. I think we should have some sideways movement for few months for accumulation if it were to reverse the trend. Just trade accordingly and be cautious! Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
BLACKBULL:SPX500
by Future_Wei
8