SPX500 intraday dips continue to attract buyers.US500 - 24h expiry
Buying pressure from 5714 resulted in all the initial daily selloff being recaptured.
Broken out of the channel formation to the upside.
Price action continues to trade around the all-time highs.
Dips continue to attract buyers.
We look to set longs in early trade for a further test of the fragile looking resistance.
Our profit targets will be 5785 and 5800
Resistance: 5780 / 5784 / 5800
Support: 5745 / 5730 / 5714
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The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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Us500
NASDAQ INDEX (US100): More Growth is Coming
I see a strong bullish setup on US100.
After a retest of a recently broken key level,
the market violated a resistance line of a falling wedge pattern.
With a high probability, we will see a bullish movement soon
at least to 20165.
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S&P500: Bullish until the end of the year.Excellent bullish technicals on its 1D outlook for the S&P500 (RSI = 64.960, MACD = 69.000, ADX = 26.170), despite turning mostly sideways in the past trading days. However, having reached the HH trendline, we can see from the past two similar patterns that a consolidation is normal and as long as the 1D MA50 holds, the index is more likely to continue the uptrend. We are expecting a similar +15.00% rise (TP = 6,200) to close the year out.
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S&P sets new high but weakness is mountingLast week, the market traded within a narrow range, yet still managed to reach new highs. The bulls remain in control of both the daily and weekly timeframes, although I’m not entirely comfortable with the structure that has developed over the past five days. Most of the growth occurred during extended hours, while during regular trading hours, the market either remained in a tight range or moved downward. This structure is fragile and could easily break, though I’m not ready to call for shorts just yet.
Firstly, it hasn’t broken. We're still in a bullish wave on the daily timeframe — in the past two weeks, none of the days have closed below the previous day's low. Secondly, even if the structure breaks, we should not expect significant follow-through, as the market remains very bullish.
Here's a quick recap of the key points supporting the bullish thesis (you can find the rest in my previous review):
1. The Fed cut interest rates by 0.5 percentage points, which is positive for both the economy and the stock market for several reasons, such as cheaper borrowing costs.
2. The SPX has reached a new all-time high, which is highly bullish.
3. Both the weekly and daily charts show a strong uptrend.
For the market to reverse, there would need to be a significant shift in sentiment, likely triggered by some fundamental event. From a technical standpoint, the uptrend remains intact as long as the bulls hold the previous major low ( 538 ). Until then, any "red" waves should be viewed as mere pullbacks within the broader upward movement.
The S&P rally continues, defying all fears of a recessionLast week was marked by erratic price movements, leading many to recall the old adage, "no trade might be your best trade." The most confusing (and devastating) price action occurred on Thursday following the FOMC's interest rate decision. The Fed cut rates by 0.5 percentage points, sparking fears of an upcoming recession. Wednesday ended with a strong bearish "falling star" candle, tempting traders to take large SHORT positions. To be honest, I would have likely done the same if I had been trading that day (luckily, I wasn’t), as the least one would have expected was an overnight rally that wiped out short positions when the market opened on Thursday.
This series of events is a perfect example of what makes trading so challenging— even a solid setup can fail spectacularly without any clear reason.
Now, let's try to assess the current situation :
1. The Fed cut rates by 0.5 percentage points – This is actually positive for the economy and the stock market for many reasons (e.g. cheaper borrowing costs). At the same time there are no objective signs of a recession, only fears.
2. The SPX reached a new all-time high – How can this be bearish?
3. Both weekly and daily charts show a strong uptrend.
4. Almost all major SPX sectors closed the week strong, reflecting investor confidence.
In summary, the market remains very bullish , with no indication that the trend is reversing anytime soon. Short term price action might be erratic, but long-term things look good both from technical and fundamental perspectives.
Let’s stay calm and prudent.
Important levels:
Last major weekly high (538). As long as it holds buyers have control over weekly chart.
S&P500 This rally isn't even halfway there!Last time we plotted the S&P500 index (SPX) against the Volatility Index (VIX) was almost a year ago (November 07 2023, see chart below) and that helped as catch a more than +20% rise:
This time, the two assets who are on a negative correlation don't trade on exactly opposite patterns. The S&P500 has been trading within a Channel Up for almost 1 year (since the October 30 2023 Low), while VIX is on a (wide) range with a clear Support Zone and peaks within a 22.00 - 24.00 Resistance Zone, with the exception of the early August rise that spiked above it (recession fears).
Naturally, VIX's spikes and rejections (red circles) are SPX's bottoms and reversals (green circles). The blue circles that are bottoms for VIX inside its Support Zone are mid rally consolidations on the S&P500. This indicates that even when the Volatility bottoms and starts rising, the market is still in euphoria and it takes another half rally before it realizes that an aggressive volatility spike is coming.
This can be particularly helpful in determining how long we still have to keep buying. Based on VIX's current position (ellipse shape), we are on the consolidation phase before the Support Zone test. Which means that we aren't even halfway through SPX's Bullish Leg.
We expect that to be around mid to end of October, just before the U.S. elections to come up as a needed correction. As a result, we are expecting an end-of-year price at around 6200.
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US500 Is Bullish! Buy!
Here is our detailed technical review for US500.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 5,730.5.
Considering the today's price action, probabilities will be high to see a movement to 5,946.0.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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S&P500: Aiming at 6,000 before the elections.The S&P500 index is on a very healthy bullish technical 1D outlook (RSI = 64.688, MACD = 69.140, ADX = 44.589) which indicates that the rebound that started on the September 6th low should be extended. The volatility on the 4H RSI indicates that as long as the 4H MA200 supports, we will see a rally similar to June's and in fact we should symmetrically be on a same level as the June 14th consolidation. We are aiming for the -0.618 Fibonacci extension like June's rally (TP = 6,000) before the U.S. elections.
See how our prior idea has worked out:
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S&P500 Powell gave what the market wanted. Rally up to mid-2025?Chair Powell went out and did it yesterday as the Fed didn't just cut the Interest Rates yesterday for the first time since March 2020, but did so by -0.50%, giving the market what it so desperately wanted. The question now on everyone's mind is this: is this what the market needed to extend the 2023 - 2024 rally?
Fundamentally of course the cuts is a strong reason and as for the technical part we will let an old analysis of ours (last updated May 16, see chart below):
As you can see, we published that at a time when there were again voices over an extended correction due to April's strong red candle. What happened instead? The S&P500 (SPX) posted 4 straight green months (not including September). Once again we present to you this chart, to help everyone maintain a healthy long-term perspective.
Wide, long-term time-frames like 1W or 1M (such as the current one) succeed at filtering out the short-term noise caused by volatility, news etc. As you can see on this chart, which we named "The Ultimate stock market cheat sheet", the index goes through very distinct market through roughly the past 20 years. More specifically, since the 2007/08 Housing Crisis, there is a very consistent pattern and the Sine Waves display perfectly that frequency.
The first observation is that there is a rough frequency when the S&P500 tops every 3.5 years. In this time-span of 42 months (3.5 years) the index either hits a High or already has and is on a minor decline before a stronger correction comes, which is always within the technical standards of pull-backs within a greater Bull Cycle expansion.
Roughly also, the sell signal is given after the 1M RSI breaks below its MA (yellow trend-line) having previously been on overbought territory (above 70.00). Once the index hits the 1M MA50 (blue trend-line) again, usually a year at most after the Sine Wave top, the most optimal long-term buy signal emerges again. Investors who have applied this strategy/ principle since 2009, have had a total of 5 excellent buy opportunities for tremendous gains at the lowest possible risk.
In conclusion, the market still has almost another year (roughly), until a sell signal emerges (July 2025). In our opinion, having always a low risk profile in our investments, it is advisable to be off stocks before that date just to be on the safe side. The important outcome of this finding, however, is that investors can continue feel safe buying for several more months, especially after the Fed gave a strong excuse to do so.
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Bearish drop?S&P500 (US500) is rising towards the pivot and could potentially reverse to the 38.2% Fibonacci support.
Pivot: 5,653.09
1st Support: 5,544.83
1st Resistance: 5,727.20
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
S&P500 Extremely well supported. This uptrend will continue.Just 6 days ago (September 10, see chart below) we gave the most optimal medium-term buy signal on S&P500 index (SPX) as the price tested and held the 0.5 Fibonacci retracement level:
The price rebounded strongly and is imitating the 0.5 Fib bounces of the previous 12 months that all started very strong rallies (+10.50% the weakest!).
This week we would like to go back to our long-term perspective on the wider time-frames (1W on this chart) as ahead of the Fed Rate Decision on Wednesday, we expect very high volatility that might cloud investor thinking and confidence to a strong degree.
There is no reason to diverge from our long-term bullish outlook (yet) as the index remains extremely well supported on the 1W MA50 (blue trend-line), which was approached on August's low and was last time tested (and held) a year ago (October 23 2023).
A Higher Highs trend-line guides S&P to higher prices, similar to every such trend-line since 2016. The 1W RSI has started to form a Bearish Divergence, which was effective only in early 2022 and the start of the Inflation Crisis. As long as the 1W MA50 holds, the Sine Waves show that this uptrend is far from over.
Technically we should now see a continuation to around 5800 - 6000 and then a new medium-term correction. Our long-term Target is 6500, which based on the progressive nature of cyclical rises within this pattern (+63.50% then 105.00%), seems a modest one.
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NAS100 Technical Analysis and Trade Idea (NASDAQ)👀 👉 Here's my take on the current NAS100 (NASDAQ) situation:
The S&P 500 index is exhibiting clear signs of smart money influence. We're seeing a calculated manipulation of price action, with recent moves targeting a previous range high followed by an expansion to the downside. This pattern suggests institutional players are strategically positioning themselves for a potential bearish move.
## Interest Rate Speculation and Stop Hunting
The market's reaction to rumors of lower interest rates has created a classic "buy the rumor, sell the news" scenario. This rally has likely triggered a cascade of stop losses, setting the stage for a potentially significant sell-off. Such price action often precedes larger market moves, as it clears out weak hands and creates liquidity for larger players.
## Seasonal Considerations
Historically, mid-September has been a bearish period for the S&P 500. This seasonal tendency aligns with our current technical setup, adding weight to the bearish thesis. It's crucial to note that while seasonality isn't deterministic, it can provide an edge when combined with other technical factors.
## Technical Outlook
The daily chart shows bearish divergence on key momentum indicators. The MACD is displaying a bearish crossover, while the RSI, currently at 67.35, suggests there's ample room for downside before reaching oversold conditions . The index is also approaching overbought territory on the Stochastic oscillator, further supporting a potential reversal .
## Trade Strategy
Given this confluence of factors, my bias is decidedly bearish. I'm looking to initiate short positions targeting previous support levels. Key resistance to watch is around 5,624, which aligns with recent pivot points . For entry, I'll be watching for a break and retest of the current range lows, potentially around the 5,618 level .
Remember, while this analysis provides a strong directional bias, always manage your risk carefully. The S&P 500 can be volatile, especially during periods of economic uncertainty. Position sizing and well-placed stops are crucial for long-term trading success. 📉✅
S&P500: This rally has just started.The S&P500 is bullish on its 1D technical outlook (RSI = 59.284, MACD = 37.100, ADX = 31.869) and is testing the 5,680 ATH R1 level. This is the 4H timeframe and as you see the current rebound was achieved on the 4H MA200. The 4H RSI is on the same levels as May 7th 2024 and November 3rd 2023, which were consolidations before a major Channel Up formation. Our Target is in tact (TP = 6,000).
See how our prior idea has worked out:
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S&P bulls regain control, aiming for the new highAfter the major sell-off in the first week of September, the market has made a U-turn, rebounding to its previous highs. This outcome was anticipated as highly likely in my last review, though, as is often the case, the market exceeded boldest expectations.
Currently, we have confirmed a weekly higher low, which provides a solid foundation for the continuation of the uptrend. It’s also worth noting that the rally is being driven by risk-on assets like XLK and XLY, reflecting growing investor confidence.
The mid- and long-term outlook remains bullish, though heightened volatility is expected as we approach the US elections.
Important levels:
539.4 - major weekly low. Bulls must protect this level to keep uptrend intact
565.2 – major monthly high. There might be some resistance at this level. Bulls must clear it for uptrend continuation.
FOMC meeting is set for Wednesday but it is not expected to bring big surprises.
#US500 1DAYTrade Recommendation: SELL Opportunity for US500 Index
SELL Level:5650
Target Levels: 5500, 5600, 5200
Description:
The US500 index, representing the top 500 large-cap U.S. companies, is currently trading around the 5650 level. This level presents a strategic opportunity to sell, as technical and market indicators suggest a potential downturn.
Rationale:
Technical Indicators: The index has recently approached resistance levels, showing signs of overbought conditions. Historical data suggests that similar resistance levels have often preceded corrective moves.
Market Sentiment: Current economic data and market sentiment indicate potential headwinds, which could lead to a decline in the index.
Risk-Reward Ratio: Selling at 5650 offers a favorable risk-reward profile, with potential downside targets at 5500, 5600, and a more extended target at 5200.
Targets:
1.5500: Short-term target where initial profit-taking can be considered.
2. 5600: Intermediate level that could offer a partial exit or adjustment of positions.
3. 5200: Extended target for those with a longer-term bearish outlook, providing a substantial profit opportunity.
Risk Management:
Stop-Loss: Implement a stop-loss above the 5650 level to manage potential adverse price movements.
Position Sizing: Ensure appropriate position sizing to mitigate risk and align with your trading strategy.
Carefully monitor market conditions and adjust the strategy as needed to align with evolving trends and data.
US100 19.220.6 +2.21% + S&P 500 MULTI TF ANALYSISHELLO TRADERS
Hope everyone is doing great
📌 A look at MULTI TIME-FRAME ANALYSIS on NAS 100 & S&P500.
NAS100 WEEKLY TF
* 2 WEEKS bearish run delivering from the -FVG On the NAS100 & S&P500 from the weekly might have just ran its course.
* With the week opening on a bullish run, looking for that monthly FVG TO HOLD.
* Looking for a bullish week close and continuation with the bulls.
* with a -FVG & -OB looking for a small reversal possibly short term but overall bullish.
* Because The weekly & daily TF show we are still trading in BULLISH conditions on the NAS100 & S&P500.
ON THE S&P500 M & W
* The setup is clearer or price action is somewhat cleaner.
MONTHLY
WEEKLY
DAILY TF
* Looking for violation of the daily FVG.
* To confirm bullish continuation
*S&P500
4H
* still bullish on NAS100 Trend cont. favored until otherwise price shows some significant bearish moves.
* otherwise choch + for bullish moves
* looking for a bounce of + OB
SENTIMENTS THE SAME ON THE S&P500
1H TF
* Sentiment remains, remain bullish unless otherwise.
* Probably be looking for LONG OPPORTUNITIES otherwise, We will see what does the market dish.
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HOPE YOU ENJOYED THIS OUT LOOK, SHARE YOUR PLAN BELOW,🚀 & LETS TAKE SOME WINS THIS WEEK.
SEE YOU ON THE CHARTS.
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SMASH THAT 🚀 & LEAVE A COMMENT.
ALWAYS APPRECIATED
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* Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT.
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LOVELY TRADING WEEK TO YOU!
S&P500 just needs to recover the 1D MA50.The S&P500 recovered yesterday a great deal of Friday's losses but still that wasn't enough to reclaim the 1D MA50 (blue trend-line), which was lost as the short-term Support level. As you realize, this is the key in order to resume and sustain the uptrend that started after the August 05 rebound near the 1D MA200 (orange trend-line).
The long-term pattern is a Channel Up and even before that since late 2022 and the bottom of the Inflation Crisis, the index only once corrected below the 0.5 Fibonacci retracement level (the October 27 2023 Low). We mention that because Friday's decline stopped exactly on the 0.5 Fib.
Every rise that followed until the next correction, reached at least +10.50% from the 0.5 Fib. As a result, once the index reclaims the 1D MA50, we will buy and set the next medium-term Target at 5950 (+10.50% from the 0.5 Fib).
Notice also that yesterday's rebound was made exactly on the 1D RSI's Symmetrical Support, a level that initiated the December 19 2022 rebound.
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US500 Is Very Bearish! Sell!
Please, check our technical outlook for US500.
Time Frame: 10h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 5,477.28.
Taking into consideration the structure & trend analysis, I believe that the market will reach 5,392.64 level soon.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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Could price drop from here?S&P500 (US500) is rising towards the pivot which has been identified as a pullback resistance and could drop to the 1st support.
Pivot: 5,498.75
1st Support: 5,392.64
1st Resistance: 5,562.88
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
S&P500: Rebounding on the 1D MA100.The S&P500 is recovering Friday's lost ground and turned neutral again on its 1D technical outlook (RSI = 46.331, MACD = -24.550, ADX = 22.750). Even though it needs to overcome the Resistance pressure of the 1D MA50, this rebound gives a very positive note as it is being performed on the 1D MA100, which last time was a bounce point on April 19 2024. If the August 5th rebound was a HL of a Bullish Megaphone, then now the index is starting phase 2 of the new Bullish Wave, much like the 1D MA50 bounce of May 31st. We are bullish with TP = 6000, on the -0.618 Fibonacci level for a HH.
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US500 priming for the next jump up or BIG crash down 24%!SP500 right now is in an uptrend since November 2023.
If the price holds, we will conitnue to see all time highs and there'll be sunshine and ranbows.
If the Double TOp breaks below, we are talking a potential 24% crash down to 4,116.
So we are at an alert rate to watch and observe and act accordingly.