US Market Technicals Ahead (8 Feb – 12 Feb 2021)All three US major averages finished the week in the green, with each posting its best week since November 2020 as fears of the short-squeeze in a handful of stocks leading to broader market contagion subsided. Investors will be focusing on earnings and the prospects for a hefty new coronavirus relief package in the week ahead. Markets will also be watching the latest consumer price inflation numbers on Wednesday amid expectations for an uptick as the economic backdrop improves and the vaccine roll-out gains momentum.
Here’s what you need to know to start your week.
S&P500 (US Market)
The benchmark index ($SPX) kicks off the month of Feburary with a weekly gain of +5.03%, the best week of the index since November 2020. This rally not only fully recovered the correction from the initial week, but it also established a new all time high for $SPX at 3,895 level. Additionally, $SPX is now back above its 20DMA, along with the consolidated Trend Channel highlighted last week.
At the current junction, the week’s rally of $SPX have exhibited a Bearish Divergence pattern; as the daily rally of $SPX is accompanied with a volume exhaustion. The first signs of weakness in this rally will require a re-test of all-time high resistance turned support at 3,870.
1. Earnings
Better-than-expected corporate results so far in the fourth quarter have driven up analysts’ expectations, and S&P 500 ($SPX) companies are on track to post earnings growth for the period instead of a decline as initially expected. Upcoming U.S. reports in the week ahead include Cisco Systems ($CSCO), Twitter ($TWTR), General Motors ($GM), Pepsi ($PEP), Coca-Cola ($KO), AstraZeneca ($AZN) and Walt Disney ($DIS).
Upbeat earnings along with stimulus talks and progress on the vaccine rollout boosted equities last week, with the S&P 500 and the Nasdaq recording their largest weekly percentage gains since the U.S. elections in early November.
Upbeat fourth-quarter results would bolster expectations for a strong rebound in earnings in 2021 and help to ease investor worries that valuations are overstretched.
2. Stimulus
U.S. President Joe Biden’s push for his $1.9 trillion COVID-19 relief package gained momentum on Friday after the U.S. Senate narrowly approved a budget blueprint allowing Democrats to push the legislation through Congress in coming weeks with or without Republican support.
Republicans have proposed a $600 billion aid package, less than a third the size of the Democratic plan.
Congressional committees are set to start drawing up legislation this week and Speaker Nancy Pelosi has predicted the final legislation could pass Congress before March 15, when special unemployment benefits that were added during the pandemic expire.
Data on Friday showing a smaller-than-expected rebound in the U.S. labor market in January underscored the need for more stimulus to bolster the economy.
3. Inflation data
Market watchers will be paying close attention to Wednesday’s CPI data amid growing expectations that an uptick in inflation could be larger and longer lasting than the Federal Reserve is currently anticipating.
U.S. Treasury investors are betting on rising inflation as the U.S. economy returns to more normal levels in the second half of this year, after contracting at its deepest pace since World War Two in 2020.
The prospect of a new coronavirus relief package is adding to inflation expectations.
Meanwhile, Fed Chair Jerome Powell is to speak about the labor market on Wednesday at a webinar hosted by the Economic Club of New York. Thursday’s figures on initial jobless claims will also be in focus.
Us500long
us500us500 find good suport at 3720 worst is 3680
and its time for bull target 3840
stop 3650
good luck
S&P 500 Long TradeMy technical indicators show me an buy signal. Stop Loss is set at the ATR +1 to the beginning of the Trade. I will close the trade, when the MACD changes from Green to White or Red and the Cluster Algo is in an red range. Otherwise hold until the stop kicks in.
US500 SP Long OpportunityHello,
Im here to share with you my understanding of the market.
As you can see, there a good opportunity to buy US500 since it broke the ascending triangle and a good daily resistance.
Its an uptrend with a good retest making that resistance a new support.
Good trading to everyone who sees this and to who doesnt see it.
US500After the breakdown of 3700 we have a good chance of the US500 looking for the next level of monthly expansion at 3836 next week which is the same resistance level as H4 Camarilla. Looking for a purchase entry at the minimum of the week or Monday is valid
US500The price has remained stable above 3600, if we don't break this region down, our next destination will be 3800 for the next few days
Spx500 Break and retest entryS&P looking like its making a morning star at the 61.8% on the Fibonacci and the retest zone. Going to target the previous high.
SPX500 Long SetupPrice will come into this area and find support as it will be a 15min HL and a double bottom on the 5 min at a previous HL. Easy pips you enter here
S&P 500 THE HUGE RISESo this is my anticipation on S&P 500 i think its now going for 4000- . Same as Gold and other US indices. I actually think the Covid-19 crash actually increased the cahnces of this huge incoming rise. So lets just all wait and see but im definitely going long and i think the US elections will pump it more. Suggestions in the comment section.
S&P (US500) AnalysisOn Weekly Market Broke The High
Made A PullBack To Retest The Low
Now Market Momentum Shifted Bullishly
On the Entry Market Broke The Daily Resistance and the Channel
Now Waiting for the market to make a high and retest the previous daily resistance on 4 hour
on the retest, our entry will be
Please drop a like and comment your thoughts also
US500 or S&P500 LongHi all, we had the summer dip, time to go long for a risk/reward of 1/1.5 or you can keep it until March 2021
US500 - My Thoughts - Election Day?Hello friends, This is for fun but TA could tell a story...:) Let's see what happen, Give me a like if you agree...lol. :)
THIS IS NOT INVESTMENT ADVISE...
LIKE, FOLLOW AND SHARE... :)
Going Long US500Just entered a long position based off these 4 confluences:
1. Trend line was broken
2.Moving avg crossover
3.Possible HH
4. Continuation Doji
When this 4H candle closes as a Doji or bullish market structure will have been broken and my target would be the major LH for my exit, That’s a little over 100 points.wait for the 4H close for confirmation👍🏽
Possible Buy on US500 - DailySimilar to our US30 analysis, US500 is looking like a good entry point on a long position. On the daily you can see where price came back down and tested our support area creating a nice rejection and daily pinbar.
