NASDAQ Is Close To The Main Trend And Support!Hey Traders, in today's trading session we are monitoring NAS100 for a buying opportunity around 20,500 zone, NASDAQ is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 20500 support and resistance area.
Trade safe, Joe.
Indices
NAS100 H4 | Potential bearish reversalNAS100 is rising towards a pullback resistance and could potentially reverse off this level to drop lower.
Sell entry is at 21,404.67 which is a pullback resistance that aligns with the 38.2% Fibonacci retracement level.
Stop loss is at 21,660.00 which is a level that sits above the 50.0% Fibonacci retracement level and an overlap resistance.
Take profit is at 20,949.82 which is a pullback support that aligns close to the 61.8% Fibonacci retracement level.
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The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
DOW JONES: 5 month Channel Up bottomed and 1D MA100 hit. BullishDow Jones turned bearish on its 1D technical outlook (RSI = 35.675, MACD = -65.830, ADX = 38.532) after yesterday's sharp drop due to the Fed announcing an outlook shift to 2 rate cuts in 2025 from 4 previously. Technically though that fall presents a unique long term buy opportunity as despite crossing under the 1D MA50, it managed to hit the 1D MA100 for the first time since Aug 8th while touching the bottom of the 5 month Channel Up. Today the price is showing the first signs of rebounding. The 1D RSI rebounding from below 30.000 (oversold) is also a great bullish indicator. The drop that resembles most December's is the first bearish wave of the Channel (July-August). When it recovered, the rebound hit the R1 level at first and that is our target (TP = 45,000).
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Potential bullish rise?S&P500 (US500) has reacted off the pivot which acts as an overlap support and could rise to the 38.3% Fibonacci resistance.
Pivot: 5,868.52
1st Support: 5,788.39
1st Resistance: 5,930.95
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&P 500 Daily Chart Analysis For Week of Dec 20, 2024Technical Analysis and Outlook:
During this week's trading, the S&P 500 index exhibited considerable volatility after reaching our critical support level of Mean Support 5870. Subsequently, it demonstrated a robust upward recovery. This development is anticipated to facilitate the impending phase of the renewed interim rebound, with the objective of retesting the Key Resistance level at 6090, thereby paving the way for continuing the bullish trend. However, it is crucial to recognize that a retest of the Mean Support 5870 remains a great possibility.
S&P500 5 month Channel Up bottomed. Bullish reversal started.S&P500 / US500 is trading inside a Channel Up since the August 5th bottom.
Wednesday's Fed fueled correction crossed under the 1day MA50 but stabilized yesterday and today found support over the 1day MA100 and rebounded.
This low is very close to the bottom of the Channel Up and the 1day MA100 was the level that supported the early September pull back.
The 1day RSI is also reversing, and the 3 times it posted a similar pattern inside the Channel Up, it was a bottom.
Buy and target 6200 (+7.10% from the bottom).
Previous chart:
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Nasdaq - It All Comes Down To This Month!Nasdaq ( TVC:NDQ ) is at a crucial breakout level:
Click chart above to see the detailed analysis👆🏻
The Nasdaq rallied an incredible +25% over the past couple of months and is now actually also breaking a major resistance trendline towards the upside. This could still turn into a false breakout but if it doesn't, we will most likely see a flourishing stock market year of 2025
Levels to watch: $21.000, $28.000
Keep your long term vision,
Philip (BasicTrading)
3.5% Decline on The Dow Jones 30 But Is This Unusual?Looking at the trend structure over the last 8 months, we can see a pattern play out.
Since April, pullbacks of between 3.5% and 7% have been part and parcel of the Dow Jones’s trend structure. (highlighted in red)
The current pullback of 3.5% falls within this range.
Note also how our trend filter remains mostly green and grey, with speckles of red, since April, in line with the long-term bull trend.
The index has now fallen to the d50sma (orange line), where we want to see it find support, bounce, break out and continue its climb to 50,000, as it has done since April.
The Dow Jones is also a good example of how trend structures can change despite no change in direction.
October to March saw a much faster trend, using the d20sma (blue line) as support, eventually breaking through in April and leading to a change in trend structure.
The Dow Jones is currently lagging behind the Nasdaq 100, which is setting record highs above 20,000 for the first time, and the S&P 500, which has settled into a mini consolidation above the 6000 level.
We ideally want to see Santa deliver in the final 2 weeks of December.
However, if the indices and stocks don't show new trend continuations through the rest of 2024, we want them to hold within consolidation, which will act a bases for trends in the New Year.
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NASDAQ: Bullish until March 2025.Nasdaq is overbought on the 1D timeframe (RSI = 72.532, MACD = 396.420, ADX = 56.355) and is about to do the same on the 1W as well (RSI = 69.424). This is because the Bull Cycle is on full extent. However, in anticipation of Q1 2025, we are entering the final phase of the Cycle. This is a Top sequence that we've seen three time before in the last 10 years. The early signal for this is when the 3W RSI forms overbought (RSI > 70.000) LH. Each time that happened, the index had a sharp drop to at least the 3W MA50. TP = 19,000 could be an early target.
See how our prior idea has worked out:
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DAX H1 | Bearish downturn to extend further?DAX (GER30) could rise towards an overlap resistance and potentially reverse off this level to drop lower.
Sell entry is at 20,321.48 which is an overlap resistance that aligns with the 23.6% Fibonacci retracement level.
Stop loss is at 20,380.00 which is a level that sits above the 38.2% Fibonacci retracement level and an overlap resistance.
Take profit is at 20,200.37 which is a pullback support that aligns close to the 127.2% Fibonacci extension level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Bullish momentum to extend?Dow Jones (US30) is falling towards the pivot which acts as an overlap support and could bounce to the 1st resistance.
Pivot: 43,318.65
1st Support: 42,643.34
1st Resistance: 44,526.39
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.
ASX dragged lower by the DowThe Dow Jones futures market fell for an 8th consecutive day on Monday, a bearish sequence not seen in over 12 years. And that's not good news for ASX 200 bulls, as the index tends to track the Dow very closely.
The daily chart looks like it wants to head to 8200, and it just 1 - 2 bearish trading days away from it looking at a typical day's range. The 1-hour trend has favoured bearish swing traders, who could seek to fade into moves towards the 20-50 hour EMAs.
S&P500: Channel Up ready to explode to 6,175S&P500 is bullish on its 1D technical outlook (RSI = 63.112, MACD = 49.220, ADX = 50.110) as it is extending August's Channel Up. The 4H RSI is forming an Arc pattern that is much like the below 4H MA50 consolidation of October 1st - 8th. After that was completed, the price rallied to the 1.786 Fibonacci extension to form a HH on the Channel Up. The 1.786 Fib was the target of the next bullish wave as well. Consequently, we are long on SPX, aiming again for that Fib (TP = 6,175).
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SPX500 H4 |Potential bullish bounceSPX500 is falling towards an overlap support and could potentially bounce off this level to climb higher.
Buy entry is at 6,033.76 which is an overlap support that aligns with the 23.6% Fibonacci retracement level.
Stop loss is at 5,950.00 which is a level that lies underneath an overlap support and the 50.0% Fibonacci retracement level.
Take profit is at 6,121.24 which is a level that aligns with the 127.2% Fibonacci extension level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
S&P500 Is Approaching the Daily TrendHey Traders, in today's trading session we are monitoring US500 for a buying opportunity around 5940 zone, S&P500 is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 5940 support and resistance area.
Trade safe, Joe.
Is DXY Heading Above Previous High?Hey Traders, in today's trading session we are monitoring DXY for a buying opportunity around 106.800 zone, DXY is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 106.800 support and resistance area.
Trade safe, Joe.
Multiday OHLC IndicatorMulti-Day OHLC Indicator (Private Access)
This is a custom Multi-Day OHLC (Open, High, Low, Close) indicator designed to identify key price levels based on the daily price action. By calculating and plotting these critical price points, it helps you spot important support and resistance zones, as seen in the chart above.
The indicator helps traders to:
• Identify significant price levels based on recent multi-day price action.
• Spot potential reversal points and trade setups when price approaches key zones.
• Make informed decisions by visualizing multi-day price data on a single timeframe.
This indicator is private and free of cost. If you’d like access to it, feel free to request access, and I’ll grant you the privilege to use this powerful tool for your trading.
Multiday OHLC IndicatorMulti-Day OHLC Indicator (Private Access)
This is a custom Multi-Day OHLC (Open, High, Low, Close) indicator designed to identify key price levels based on the daily price action. By calculating and plotting these critical price points, it helps you spot important support and resistance zones, as seen in the chart above.
The indicator helps traders to:
• Identify significant price levels based on recent multi-day price action.
• Spot potential reversal points and trade setups when price approaches key zones.
• Make informed decisions by visualizing multi-day price data on a single timeframe.
This indicator is private and free of cost. If you’d like access to it, feel free to request access, and I’ll grant you the privilege to use this powerful tool for your trading.
S&P 500 Daily Chart Analysis For Week of Dec 13, 2024Technical Analysis and Outlook:
During the trading session this week, the S&P 500 index has exhibited a consistent steady to a lower trajectory, progressing towards our newly established support target of 6034. There remains the potential for a further decline to the subsequent Outer Index Dip level at 5980. Conversely, a notable upside movement via the previously retested Key Res 6090 level is anticipated, which may facilitate a rally to the Outer Index Rally target of 6123; this development will likely pave the way for the next phase of the bullish trend.
ASX 200 futures look set to bounceThe Nasdaq reached a record high and the S&P 500 is close to reaching its own record high. So while the Dow was lower for a fourth day, 2 out of 3 indices rising could help support the ASX today.
It's been over a week since the ASX began retracing from its record high, and with prices now trying to form a base above the monthly pivot point and historical weekly VPOC (volume point of control), I'm now looking for longs.
The ASX has opened lower but remains within the overnight range. Assuming prices hold above the spike low, the bias is for a move higher to last week's VAL (value area low) or VPOC.
Dow Jones Breakout and Potential RetraceHey Traders, in today's trading session we are monitoring US30 for a selling opportunity around 44,900 zone, US30 was trading in an uptrend and successfully managed to break it out and currently is in a correction phase in which it is approaching the retrace area at 44,900 support and resistance area.
Trade safe, Joe.