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S&P 500 Decline Completed?The decline in the S&P 500 has been in progress since the start 2022, and is technically still in a decline until indicators prove otherwise. We can see a consistent pattern of lower lows and lower highs, but early signs show that a support level may have disrupted this pattern. In early October 2022, price hit the weekly 200 simple moving average which is acting as a strong support level. Since hitting this level, we have seen a bounce to the upside. This current move up could still be followed by another decline because it has now hit the daily 200 simple moving average (not shown) and is reacting to this level as resistance and finding it slightly challenging to get through. The $4000 round number is also acting as resistance, so we need to see if price will fail and fall back to support or even form lower lows. A break above the cluster of resistance mentioned above should see the bull rally resume and continue the uptrend. This is when we will begin looking for long opportunities amongst our top stocks list to take advantage of the next leg of the bullish market. Patience as always for now, but we are edging ever so closer to jumping into high-probability opportunities in the stock market. If you enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:SPX
by Sublime_Trading
4
DXY will find support above 103.70As the global economy continues to recoil after the US Fed rate increase - watch for the USD/DXY to find support above 103.70 and flag sideways/higher over the next 15+ weeks. I suspect any continued Fed rate increases will put further pressure on global markets/currencies and drive foreign investment in USD assets throughout 2023. Yes, the US economy is contracting - which is exactly what the Fed wants (breaking inflationary trends). But, that does not mean the US economy is CRASHING. What is happening is the strength of the US economy/USD is creating a capital-shift we've not seen since the early 2011~2013 bottom. Foreign investors are rushing away from risk - towards safety, security, & ROI. That means they are seeking the safest, strongest economy on the planet, with the best chance of ROI. I believe that is the US economy (the strongest on the planet) which is currently ON SALE at a 40% to 70% discount. Pay attention.
TVC:DXYLong
by BradMatheny
Bank of America - Extending higher from the bullish flagBank of America Corp - Short Term - We look to Buy at 37.17 (stop at 35.28) Posted a Double Bottom formation. Prices are extending higher from the bullish flag/pennant formation. The formation has a measured move target of 44.30. Further upside is expected although we prefer to set longs at our bespoke support levels at 37.17, resulting in improved risk/reward. Our profit targets will be 44.30 and 48.82 Resistance: 38.60 / 40.37 / 43.75 Support: 37.15 / 36.20 / 32.63 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
NYSE:BACLong
by VantageMarkets
The Santa Rally Continues - Don't get stuck in Perma-Bear modeFar too many people got burned over the past 24 hours by betting the FARM on the Fed coming out Hawkish. I was chatting with a guy on Twitter last week about his call for a deep selling phase (possibly reaching COVID lows) in the US markets. His followers got burned by today's move (some really badly). You have to shift with the market trends and prepare for the unexpected. My research kept my followers away from risks and has been pointing towards a Wave-5 rally setting up in the US markets for many months. I use my Custom Indexes to get a better "feel" for how the markets are reacting to various inputs/outcomes. My Rotational Modeling system has been cautious for more than 14+ months - off only -6% for 2022. Many other Hedge funds are off by at much as -40% to -60%. Days like today, if you were lucky enough to survive them, will teach you a few lessons... Don't get married to a trend Protect capital at all times READ THE DATA - not the emotions Price can fool you - so protect your position. Follow my research.. Or, at least, check out my content before you decide to place your trade. Check out my SPY Cycle Pattern posts. Ask questions if you have them. This move isn't over yet.
AMEX:SPYLong
by BradMatheny