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Major Sectors that may influence US Markets this week!Health Care Following an extended consolidation phase from December 2021 to August 2024, the healthcare index has developed an Inverted Head & Shoulder pattern. With a recent breakout, the index is now set to experience significant upward momentum. Industrials Similar to the healthcare index, the industrials sector has also established an Inverted Head & Shoulder pattern. Following its breakout, this index has shown positive movement. With a recent breakout from a brief consolidation phase, the index is ready to climb once more. Financials The financial sector plays a vital role in the US stock market. Recently, the financial index experienced a robust breakout after a lengthy consolidation phase, indicating that this sector could enhance the overall US market. Real Estate The real estate sector has faced challenges for a considerable time, with the index suffering a significant downturn. However, following a recent breakthrough, the index is making progress toward recovery.
SP:SPFLong
by NaranjCapital
1
BX: Ascending Triangle, Confirmed (36,89%)(25/1000)(25/1000) Ascending Triangle for BX (chart on left) Confirmed with volume Possible 36,89% gains. This is solidified by the fact the SPF (Finance sector, chart on right) is in an ascending channel. Watch closely as it moves from bottom to top of channel. If the price action breaks the lower support line of the channel, may be time to get out of BX. Analysis of Blackstone: Pros: 1- Bullish Ascending triangle, Confirmed 3- PPS above 50MA and 200MA 3- R/R ratio above 5 4- 250RSI above 50 and ascending 5- 50MA above 200MA 6- 50MA and 200MA ascending 7- RS above 0 and ascending 8- Golden cross in blue 9- Volume at break out 10- ATR ascending, more volatility Cons: None BX Target price is 149,72$ which corresponds to the peak price of November 2021. Stay humble, have fun, make money! MAAX!
SP:SPFLong
by LeLaf
S&P (SFP): Financial sector descending channelHi all, Looking into the financial sector on the S&P this morning. Currently into a descending channel that has no end in sight. All started with initial high an lows that happened in Jan 2022. Initial high an low were followed with a string of Lower highs and lower lows with a price action staying within the upper and lower limits of the descending channel. A death cross also showed up in April 2022 when 50MA crossed 200MA. Both have since been in a descending trend. The price action could see an uptick for a few more days but is likely to turn back down into a bearish trend once a new Lower high is achieved. Trend continuation within the borders of the descending channel. A break in the descending trend could be seen if a new higher high happens or if the upper trend line of the descending channel is broken. Time will tell. Stay humble, have fun, make money.
SP:SPFShort
by LeLaf
1
SPF Testing 10-Year High / All-Time HighSPF has fallen short of reaching its all time high of $510 in 2007 before the financial crisis. Could this be a psychological barrier for traders? The cause of the financial crisis was banks taking on risky assets and appraising them, fraudulently, as safe investments in the form of CDO's. Their mistake could have created the largest psychological barrier in the history of SPF. However, from a technical perspective, SPF has the potential to break out past all time and 10 year high levels so we do not want to ignore this possibility as traders. We want to look for a high volume breakout from the green triangle area which passes 10 year high levels. Having already formed a hard double top however, a triple top would indicate a strong bearish market sentiment and an expected move back down to the 200 EMA. If it breaks out of the triangle look for a double top to form on the 10-year high resistance, if it also surges past this level SPF will enter bullish territory with a continuation of the 2017 surge to continue. For entries, on the triple top, look for high sell volume and short at the first red candle to make a new low, set stop at high of last green. For long position, look for a break past green triangle and wait for movement around resistance levels, buy first green to open above resistance and set stop at the low of the last candle before it. Overall, this is a period of lower volatility which indicate a high volatility period to begin. To track overall S&P volatility use VIX, an initial increase in VIX can indicate volatility in SPF as well as SPX.
SP:SPF
by eronftrading