resistance will fallThe S&P500 has worked its way up to a resistance area currently around 4300 points. Due to the price development and the current situation of the indicators, it is most likely to be assumed that the resistance will be overcome and the index will continue its upward movement to around 4600 points.
Temporary setbacks could be considered as a buying opportunity. To signal a resilient move into a longer sustained move down, the US500 would need to break below the orange colored average in the chart above.
S&P 500 E-Mini Futures
S&P 500, 6/9/23For Friday, 4309.25 can contain session weakness, 4348.75 in reach and able to contain intraday strength, beyond which 4385.00 is attainable intraday and able to contain session strength.
Closing today above 4385.00 indicates 4419.00 within 3 - 5 days, rising weekly channel resistance able to contain weekly buying pressures when tested, possibly into later June.
Downside Friday, closing below 4309.25 indicates 4264.00 within several days, also able to contain session weakness and the point to settle below for indicating 4195.25 - 4212.00 long-term support within several days.
ES1! Will Collapse! SELL!
My dear friends ,
Please, find my technical outlook for ES1! below:
The price is coiling around a solid key level - 4275.75
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 4229.00
Recommended Stop Loss - 4300.25
About Used Indicators:
The average true range ATR plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility.
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WISH YOU ALL LUCK
S&P 500, 6/8/23For Thursday, 4309.25 can contain session strength, 4267.50 in reach and able to contain session weakness.
Closing today below 4267.50 signals 4195.25 - 4212.00 within several days, long-term support able to contain selling through the balance of the year, and above which 4563.25 remains a 3 - 5 month objective.
Upside Thursday, pushing/opening above 4309.25 signals 4327.50 intraday, while closing today above 4309.25 indicates the targeted 4414.75 by the end of next week, able to contain weekly buying pressures when tested and the level to settle above for accelerating the 4563.25 objective to within 3 - 5 weeks.
Last Hurrah of the Bull, or the Next Leg Up? Day 3S&P 500 INDEX MODEL TRADING PLANS for WED. 06/07
The precarious rally of the last month has been baffling many, with the lack of the breadth in the rally was concentrated in just a handful of big-tech names. With the major news cycles in the rear view mirror, that red hot bull could be losing steam. If the rally does not dissipate this week, then it could be indicative of yet another leg up that could obliterate the shorts.
As we first stated to start this week, if you are a bull, it may be prudent to take some profits off the table; if you are a bear, you may begin looking for entries.
Positional Trading Models: Our positional models indicate opening a short on a break below 4275 with a hard stop at 4307.
By definition, positional trading models may carry the positions overnight and over multiple days, and hence assume trading an instrument that trades beyond the regular session, with the trailing stops - if any - being active in the overnight session.
Aggressive/Intraday Models: Our aggressive, intraday models indicate the trading plans below for today.
Aggressive, Intraday Trading Plans for WED. 06/07:
For today, our aggressive intraday models indicate going long on a break above 4291, 4280, or 4268 with a 9-point trailing stop, and going short on a break below 4288, 4277, 4265, or 4250 with a 9-point trailing stop.
Models indicate explicit short exits on a break above 4255. Models also indicate a break-even hard stop once a trade gets into a 4-point profit level. Models indicate taking these signals from 11:16am ET or later.
By definition the intraday models do not hold any positions overnight - the models exit any open position at the close of the last bar (3:59pm bar or 4:00pm bar, depending on your platform's bar timing convention).
To avoid getting whipsawed, use at least a 5-minute closing or a higher time frame (a 1-minute if you know what you are doing) - depending on your risk tolerance and trading style - to determine the signals.
(WHAT IS THE CREDIBILITY and the PERFORMANCE OF OUR MODEL TRADING PLANS over the LAST WEEK, LAST MONTH, LAST YEAR? Please check for yourself how our pre-published model trades have performed so far! Seeing is believing!)
NOTES - HOW TO INTERPRET/USE THESE TRADING PLANS:
(i) The trading levels identified are derived from our A.I. Powered Quant Models. Depending on the market conditions, these may or may not correspond to any specific indicator(s).
(ii) These trading plans may be used to trade in any instrument that tracks the S&P 500 Index (e.g., ETFs such as SPY, derivatives such as futures and options on futures, and SPX options), triggered by the price levels in the Index. The results of these indicated trades would vary widely depending on the timeframe you use (tick chart, 1 minute, or 5 minute, or 15 minute or 60 minute etc.), the quality of your broker's execution, any slippages, your trading commissions and many other factors.
(iii) These are NOT trading recommendations for any individual(s) and may or may not be suitable to your own financial objectives and risk tolerance - USE these ONLY as educational tools to inform and educate your own trading decisions, at your own risk.
#spx, #spx500, #spy, #sp500, #esmini, #indextrading, #daytrading, #models, #tradingplans, #outlook, #economy, #bear, #yields, #stocks, #futures, #inflation, #recession, #fomc, #fed, #fedspeak, #regionalbanks, #debtceiling, #china, #softlanding
This signal on VIX can sustain the S&P500 rally.We don't often look at VIX but the times we do, it never fails to offer valuable insight regarding the long-term factors on stock indices trends. Since March, may have left wondered why the S&P500 (blue trend-line) has took off so considerably without any meaningful pull-back. Well despite the prevailing fundamentals surrounding the market overall, VIX (candles) has considerably calmed down, meaning that the market volatility has decreased, something that accelerated in early April when it broke below a Higher Lows trend-line that was holding for 5 years (since the November 2017 bottom).
This is a strong reason that keep adding fuel to this S&P500 rally and can continue to sustain it for as long as VIX declines. In fact the last time we saw VIX breaking below such a strong long-term Higher Lows trend-line was in July 2009, four months after the bottom of the 2008 Housing Crisis. The index has started its long-term recovery into a historically long and strong Bull Cycle and every spike on VIX was a medium-term pull-back on the S&P500 and a buy opportunity.
This fractal similarities is additional proof that the index is decisively past its 2022 Bear Cycle and is most likely starting a new multi-year Bull Cycle. If you are a long-term investor, pay attention to VIX's spikes in order to take advantage of medium-term buy opportunities.
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S&P 500, 6/7/23For Wednesday, 4309.25 can contain session strength, 4271.50 in reach and able to contain session weakness.
Closing today below 4271.50 signals 4197.00 - 4212.00 within several days, long-term support able to contain selling through the balance of the year, and above which 4563.25 remains a 3 - 5 month objective.
Upside Wednesday, pushing/opening above 4309.25 signals 4327.50 intraday, while closing today above 4309.25 indicates the targeted 4409.50 by the end of next week, able to contain weekly buying pressures when tested and the level to settle above for accelerating the 4563.25 objective to within 3 - 5 weeks.
GLOOM AND DOOM ON THE DAYInteresting day yesterday for $$NASDAQ:AAPL. The stock hit all time highs, and then sold off. Jim Cramer says that its a pullback and he is short, and that is normally a very good reason to go long. However, that outside down day bar is pretty ominous looking. There is also an unfilled price gap lower and that could act as a magnet to the down side.
Even more interesting is pubic sentiment towards $NASDAQ:AAPL. My very, very unscientific but thorough review has to do with AAPL's new product. The World Wide Developer Conference was yesterday and it showcased the release of Apple's new googles--wait goggles. Kind of pricey at $3500, making it one of AAPL's more expensive offerings. Initially, people thought it was kind of hokey and crap, which was the news on the buildup to the release. However, later in the day, many on Twitter sounded excited about the googles, including @TheShortBear. IDK, I am an intraday trader and use 1M bars, but my bias on AAPL is short. Since AAPL weighs so heavily in the CME_MINI:ES1! (No. 1 weighted stock in the index) and the CME_MINI:NQ1! (No. 2 weighted stock in the index), it could be like that old Dixie Chicks song, "If I fall you're going down with me."
If AAPL falls, the ES and NQ may go with it.
Remember positivity starts tomorrow.
S&P500: As long as the 1D MA50 holds, it remains bullish.The S&P500 reached our first TP1 = 4,295 (see previous idea at the bottom) and touched the top of the Channel Up pattern that guided the index out of its November market bottom. Technically this calls for caution as the probabilities of a HH rejection at the top are high, despite the 1D time frame staying on harmonized green technicals (RSI = 62.614, MACD = 30.510, ADX = 17.939).
However as long as the 1D MA50 holds, it is maintaining a diverging Channel Up that can easily cross through R1 (4,330) and target soon the R2 (4,516.50). The potential change of sentiment and long term pattern is evident on the 1D MACD, which is past a Bullish Cross. For as long as those two conditions hold, we will remain bullish (TP1 = 4,330 and TP2 = 4,500).
If the price crosses under the 1D MA50 and the 1D MACD gives a Bearish Cross, we will stop buying and reverse to selling, initially to S1 (TP1 = 4,045) and eventually the bottom of the Channel Up (TP2 = 3,895).
Prior idea:
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Last Hurrah of the Bull, or the Next Leg Up? Day 2S&P 500 INDEX MODEL TRADING PLANS for TUE. 06/06
The precarious rally of the last month has been baffling many, with the lack of the breadth of the rally while it still managed to keep going up on the run up in just a handful of big-tech names. With the major news cycles in the rear view mirror, the move up could be losing steam but if not then it could be indicative of yet another leg up that could obliterate the shorts.
If you are a bull, it may be prudent to take some profits off the table; if you a bear, caution is warranted before establishing any new shorts.
Positional Trading Models: Our positional models indicate staying flat for today. No specific positional trading plans are indicated.
By definition, positional trading models may carry the positions overnight and over multiple days, and hence assume trading an instrument that trades beyond the regular session, with the trailing stops - if any - being active in the overnight session.
Aggressive/Intraday Models: Our aggressive, intraday models indicate the trading plans below for today.
Aggressive, Intraday Trading Plans for TUE. 06/06:
For today, our aggressive intraday models indicate the same trading plans as yesterday: going long on a break above 4291 or 4268 with a 9-point trailing stop, and going short on a break below 4300, 4288, 4278, or 4264 with a 9-point trailing stop.
Models indicate explicit short exits on a break above 4303 or 4281. Models also indicate a break-even hard stop once a trade gets into a 4-point profit level. Models indicate taking these signals from 11:01am ET or later.
By definition the intraday models do not hold any positions overnight - the models exit any open position at the close of the last bar (3:59pm bar or 4:00pm bar, depending on your platform's bar timing convention).
To avoid getting whipsawed, use at least a 5-minute closing or a higher time frame (a 1-minute if you know what you are doing) - depending on your risk tolerance and trading style - to determine the signals.
(WHAT IS THE CREDIBILITY and the PERFORMANCE OF OUR MODEL TRADING PLANS over the LAST WEEK, LAST MONTH, LAST YEAR? Please check for yourself how our pre-published model trades have performed so far! Seeing is believing!)
NOTES - HOW TO INTERPRET/USE THESE TRADING PLANS:
(i) The trading levels identified are derived from our A.I. Powered Quant Models. Depending on the market conditions, these may or may not correspond to any specific indicator(s).
(ii) These trading plans may be used to trade in any instrument that tracks the S&P 500 Index (e.g., ETFs such as SPY, derivatives such as futures and options on futures, and SPX options), triggered by the price levels in the Index. The results of these indicated trades would vary widely depending on the timeframe you use (tick chart, 1 minute, or 5 minute, or 15 minute or 60 minute etc.), the quality of your broker's execution, any slippages, your trading commissions and many other factors.
(iii) These are NOT trading recommendations for any individual(s) and may or may not be suitable to your own financial objectives and risk tolerance - USE these ONLY as educational tools to inform and educate your own trading decisions, at your own risk.
#spx, #spx500, #spy, #sp500, #esmini, #indextrading, #daytrading, #models, #tradingplans, #outlook, #economy, #bear, #yields, #stocks, #futures, #inflation, #recession, #fomc, #fed, #fedspeak, #regionalbanks, #debtceiling, #china, #softlanding
ES1! Will Go Lower! Sell!
Here is our detailed technical review for ES1!.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 4278.50.
Considering the today's price action, probabilities will be high to see a movement to 4113.50.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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Trends call for some upward movement; Conditions still flatSo I'm Long again in the ES from 4180 at the 6hr Higher Low downtrend point. I'm looking to see if we can get a 30m or even a 1hr uptrend and then I will likely cash out. I've an issue with the excessive upward slope of the 6hr, so I am currently looking at it as unreliable, but maybe over the next few weeks we will see a strong swing upward.
This flat market (especially on a Weekly Analysis) is difficult to trade in, and I find it difficult to see things opening up room to the upside. The Market is still primarily being held up by the top companies and P/E forward earning ratios are just excessive in those companies. NVidia is trading at 175x Forward Earnings. I mean I get that the company has a good forward projection, but 175x Forward Earnings?!
Anyways, Trends into today (Note... I realized in the video I had accidentally updated them to Lower High's... I've corrected them they are Higher Low's as they are all in downtrends)
Last Macro Trend Signal Spots
30m - 4219 Downtrend (5/30/2023) Higher Low
1Hr - 4219 Downtrend (5/30/2023) Higher Low
2Hr - 4207 Downtrend (5/30/2023) Higher Low
3Hr - 4204 Downtrend (5/30/2023) Higher Low
4Hr - 4194 Downtrend (5/31/2023) Higher Low
6Hr - 4182 Downtrend (5/31/2023) Higher Low
12Hr - 4224 Uptrend (5/28/2023) Higher High
Daily - 4168 Uptrend (4/13/2023) Higher High
Weekly - 4366 Downtrend (2/14/2022) Higher Low
The Long Position;
If we fall below the 6hr line and then push back above, I'd see that as a potential entry point. That or if we fall today and hit a 12hr higher low. I don't see the floor falling out underneath us just yet, so any dip may be an entry point briefly for an upward push towards mid day like we've seen over and over.
The Short Position;
A strong push below the 6hr ascending line, currently at about 4192, could be a strong move to get a 12hr downtrend at least. Additionally, if we see upward movement and get a 30m/1hr uptrend, it may be an entry point to the downside.
Economic Data;
Jobs data and Manufacturing data today. Usually has some impact though I feel we've become fairly immune to the jobs data at this point. Bigger data points I think will be tomorrow.
My Sentiment into today;
Shorter Term - Neutral
Short Term - Neutral
Medium Term - Neutral/Slight bullish
Long Term - Neutral/Reluctantly Bullish
Safe trading and remember your risk management plan!
S&P500 could start a 1 month correction.The S&P500 hit both targets we set two weeks ago as it reached the top of the 7 month Channel Up pattern:
This is the first major sell signal that we get on the 1D time-frame since the previous Higher High on February 02 2023. Unless the price closes a 1D candle above the August 16 2022 High (4327), we expect a short-term pull-back towards the 1D MA50 (blue trend-line) and Inner Higher Lows 1. Our Target is 4200. This sell signal will be invalidated if we close above 4327.
If we close a 1D candle below the Inner Higher Lows 2, we will re-sell and target the 1D MA200 (orange trend-line) and bottom of the Channel Up at 4000.
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Last Hurrah of the Bull, or the Next Leg Up?S&P 500 INDEX MODEL TRADING PLANS for MON. 06/05
The precarious rally of the last month has been baffling many, with the lack of the breadth of the rally while it still managed to keep going up on the run up in just a handful of big-tech names. With the major news cycles in the rear view mirror, the move up could be losing steam but if not then it could be indicative of yet another leg up that could obliterate the shorts.
If you are a bull, it may be prudent to take some profits off the table; if you a bear, caution is warranted before establishing any new shorts.
Positional Trading Models: Our positional models indicate staying flat for today. No specific positional trading plans are indicated.
By definition, positional trading models may carry the positions overnight and over multiple days, and hence assume trading an instrument that trades beyond the regular session, with the trailing stops - if any - being active in the overnight session.
Aggressive/Intraday Models: Our aggressive, intraday models indicate the trading plans below for today.
Aggressive, Intraday Trading Plans for MON. 06/05:
For today, our aggressive intraday models indicate going long on a break above 4291 or 4268 with a 9-point trailing stop, and going short on a break below 4300, 4288, 4278, or 4264 with a 9-point trailing stop.
Models indicate explicit short exits on a break above 4303 or 4281. Models also indicate a break-even hard stop once a trade gets into a 4-point profit level. Models indicate taking these signals from 10:16am ET or later.
Dow Jones Index (US30): Time to Fall!
US30 Index reached a key daily structure resistance on Friday.
After a local indecision, the market formed a double top pattern on 1H time frame
and broke its neckline to the downside then.
I expect a bearish continuation now.
Goals: 33660 / 33560
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S&P 500, 6/5/23The 4212.00 long-term resistance area can contain selling through the balance of the year, above which 4563.25 remains a 3 - 5 month objective, the 4808.25, January 2022 all-time high expected by the end of the year.
Upside this week, 4399.00 can contain weekly buying pressures, with a settlement above 4399.00 indicating 4563.25 within 3 - 5 weeks, able to contain buying on a monthly basis and the formation settle above for accelerating the 4808.25 longer-term objective to within 2 - 3 months.
Downside, a weekly settlement below 4212.00 would be considered a significant failed long-term buy signal, in essence indicating 3898.25 within 2 - 3 months.
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For Monday, 4309.25 can contain session strength, 4264.25 in reach and able to contain session weakness.
Closing today below 4264.25 signals 4200.50 - 4212.00 within several days, long-term support able to contain selling through the balance of the year, and above which 4563.25 remains 3 - 5 month objective.
Upside Monday, pushing/opening above 4309.25 should yield at least 4327.50, possibly 4355.50 intraday, while closing today above 4309.25 indicates the targeted 4399.00 within 3 - 5 days, able to contain buying through next week and the level to settle above for accelerating the 4563.25 objective to within 3 - 5 weeks.