US500 Will Go Lower! Short!
Take a look at our analysis for US500.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 5,614.6.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 5,519.1 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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Us500
US500 - Decision Zone!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
US500 has been overall bullish trading within the rising channel marked in red.
This week, US500 is in a correction phase and it is currently retesting the lower red trendline.
📈As long as the last low marked in red holds, we expect a bullish continuation.
📉 In parallel, if the last low in red is broken downward, a deeper correction towards the lower orange trendline and zone would be expected.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
US500 Will Move Lower! Sell!
Take a look at our analysis for US500.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 5,563.4.
Considering the today's price action, probabilities will be high to see a movement to 5,504.6.
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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US500 - near to his supporting area? whats next??#US500 S&P... fantastic drop from your resistance area as we discussed in our previous idea and market placed low's around our supporting levels.
now market is at his one of the most important supporting area that is 5485 around.
keep close it because if market hold it then again buying expected from here.
don't be lazy here and keep close.
good luck
trade wisely
Bearish reversal?S&P500 (US500) is rising towards the pivot which has been identified as a pullback resistance and could reverse to the 1st support which is an overlap support.
Pivot: 5,579.54
1st Support: 5,504.68
1st Resistance: 5,617.52
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.
Bullish bounce off pullback support?S&P500 (US500) is currently on the pivot which is a pullback support and could potentially bounce to the 1st resistance level which is also a pullback resistance.
Pivot: 5,505.68
1st Support: 5,450.16
1st Resistance: 5,578.02
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 is strong; however, some immediate uncertainty loomsLast week was marked by a very slow start and a chaotic finish. On Monday and Tuesday, prices bracketed in a very narrow range with neither side willing to take action. On Wednesday, the bulls gathered some momentum for a rally only to be countered by the bears the next day. While the bears’ attack appeared fearsome, it lacked real conviction (as I pointed out in my report), and it eventually faded. On Friday, the bulls took the initiative, erasing all the bears’ achievements.
From a technical perspective, we have the following disposition:
1. Price is in an uptrend on all major timeframes. Last week closed quite strong.
2. All major S&P sectors are supporting the upward movement (see Market Inner Strength Index)
3. RSI is highly overbought on the daily timeframe and slightly overbought on the weekly timeframe. Although this doesn’t mean much in strong uptrends, we should still pay attention to it.
4. On the hourly chart, there is some unclear bracketing with an extending range. We have both a poor high and a poor low.
The bulls clearly have the upper hand on all major timeframes, making the most likely scenario a continuation of the uptrend. Fundamentals are also on the buyers’ side: inflation is decreasing, and the first bank reports were quite positive.
However, it is also possible that we’ll see more bracketing in the short term due to political uncertainty, which deprives the market of the conviction needed for prolonged movements. We can see signs of traders’ hesitation on the hourly chart: breakouts without follow-through and reluctance to carry positions over the weekend. Coupled with price overextension (remember the RSI), there are enough arguments to support the need for short-term consolidation and the collection of additional information before moving higher (if nothing changes fundamentally).
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
S&P500 The correction is over. Bullish trend intact.The S&P500 (SPX) has been rising steadily since our June 17 bullish break-out signal (see chart below) and despite this week's pull-back, the upward pattern remains unchanged:
As long as it continues to be supported by the 1D MA50 (blue trend-line), we remain bullish with our Target intact at 5800, marginally below the 2.618 Fibonacci extension.
On a side-note, observe the uncanny symmetry between the RSI structures of the Bullish Legs. We are now on a similar pull-back recovery formation as on the January 31 2024 and June 26 2023 short-term Lows.
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S&P500 Is Approaching The Main TrendHey Traders, in today's trading session we are monitoring US500 for a buying opportunity around 5500 zone, S&P500 is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 5500 support and resistance area.
We would also like to consider the current bearish bias in DXY, due to the negative correlation SPX can continue pushing higher.
Trade safe, Joe.
DOW JONES INDEX (US30): Bullish Trend Continues
US30 index updated the ATH this week.
The market managed to violate a resistance level
based on the last higher high and close above that.
The Index has a nice potential to go higher.
Next resistance - 40800
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S&P Bulls Defy Expectations; New Historical HighLast week, the bulls did something remarkable. At the start of the week, there was a clear bearish reversal pattern forming on the daily chart. Despite being a believer in the bulls (given the strength of the weekly chart), I was still quite certain that sellers would at least be able to take down the weak low from the last week of June (SPX 5,448). However, instead of breaking through, the sellers made only a weak attempt on Monday. After a brief pause, the market rallied, breaking through all previous highs.
It is hard to grasp such a change in sentiment, especially since there was nothing particularly surprising in the economic data or the FOMC announcements. Sometimes, it seems that the market itself is confused, and the best we can do is observe its behavior day by day and make quick adjustments to our strategy. There was absolutely no clear reason behind the sell-off on Friday the 28th (presidential debates? really???), but we had to trust price action and let it shape our strategy. Only now can we conclude that it was a “fake” weakness (actually, we already started suspecting it on Tuesday). More likely, it was temporary confusion in the market, caused by many contradicting political and economic signals.
The current outlook is bullish. The market has set a new high, and the majority of sectors ended the week strong (see Market Inner Strength Index). The only possible warning is that the weekly RSI is approaching the overbought condition. The last time this happened (at the end of March), it triggered a weekly consolidation, but again, nothing is certain.
P.S. this week is heavily packed with economic data releases. Also, banks report on Friday. Things might change really fast
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
US500 Will Go Lower! Short!
Take a look at our analysis for US500.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 5,631.5.
Considering the today's price action, probabilities will be high to see a movement to 5,517.7.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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S&P500 Short-term buy signal.The S&P500 index (SPX) is just after the middle of the new Bullish Leg of the 3-month Channel Up, supported by both the 4H MA50 (blue trend-line) and the 4H MA100 (green trend-line). The Sine Waves have been very efficient at projecting the bottoms and tops (Higher Lows and Higher Highs respectively) throughout the pattern.
Right now the index is approaching such a top and once the 4H RSI makes a Double Top, it will be time to take profit. Rough projection, we expect that to be around 5700 and that is our Target unless the RSI double tops earlier.
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SPX500 / US500 Bullish Robbery Plan To Make MoneyMy Dear Robbers / Traders,
This is our master plan to Heist SPX500 / US500 market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich.
Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money.
Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update.
Stop Loss : Recent Swing Low using 4h timeframe
Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target.
support our robbery plan we can easily make money & take money 💰💵 Join your hands with US. Loot Everything in this market everyday
This is not the end of the bull marketThe S&P 500 closed at a new high last week, indicating strong upward momentum. In terms of macroeconomic data, June's ISM Services PMI fell to 48.8 (previously 53.8), below the consensus of 52.5. This signals a weakening in the services sector, which might impact investor sentiment in the short term.
On the other hand, the Non-Farm Payrolls (NFP) data for June came in at 206,000, exceeding the consensus of 190,000 but below the previous reading of 218,000. Despite this, the data positively influenced the market as it brought the prospect of an interest rate cut by the Fed closer. Private sector employment stood at 136,000, below expectations of 160,000, which was interpreted as a sign that the Fed might be more inclined to ease monetary policy.
Seasonal Prospects
We are currently in a seasonally favorable period for the market, which could last until mid-July. Historical data indicate the potential for further gains, supported by seasonal analysis and technical signals.
Risk Pricing and Sentiment
The market currently prices in a 72% chance of the first rate cut in September. Additionally, 67% of retail investors hold short positions, which, from a contrarian perspective, is positive for further gains as potential short covering could drive stock prices higher.
Seasonal Prospects
We are currently in a seasonally favorable period for the market, which could last until mid-July. Historical data indicate the potential for further gains, supported by seasonal analysis and technical signals.
Risk Pricing and Sentiment
The market currently prices in a 72% chance of the first rate cut in September. Additionally, 72% of retail investors hold short positions, which, from a contrarian perspective, is positive for further gains as potential short covering could drive stock prices higher.
S&P 500 Returns After 20 or More All-Time Highs at Midpoint of the Year
The table shows that the S&P 500 market typically performs well after achieving numerous all-time highs by mid-year. Historically, these years end with positive returns for the full year.
S&P 500 Returns After >10% YTD at Midpoint of the Year
The data indicates that years with over 10% YTD returns by mid-year often continue positive trends throughout the rest of the year, resulting in significant gains by year-end.
Nonfarm Payrolls and Job Market Data
Nonfarm payrolls increased by 206,000, although revisions for previous months lowered these figures by 111,000. Despite this, the unemployment rate remains low, indicating a strong job market.
AAII Member Sentiment on Stock Market Direction
A significant portion of AAII members are bullish about the market direction over the next 6 months, with bullish sentiment higher than historical averages.
Most Anticipated Earnings Releases for the Week Beginning July 08, 2024
In the upcoming week, earnings reports from several significant companies, such as PepsiCo, Delta, and JPMorgan Chase, are expected, which may significantly impact market sentiment.
S&P 500 Earnings Growth for Calendar Year 2025
Projections indicate the highest earnings growth in the information technology and healthcare sectors, with more moderate growth in other sectors such as real estate and consumer staples.
Growth in Disposable Income and Compensation vs. Inflation
The growth in disposable income and compensation exceeds inflation, indicating increased purchasing power for consumers.
Consumer Spending Trends
Consumer spending is rising steadily and remains above trend despite economic fluctuations.
S&P 500 vs. Rising 10-Year Treasury Yield Strategy
The current situation indicates stability in the bond market and continued growth in the S&P 500 index. The lack of a signal to switch to cash suggests that the stock market is in good condition, allowing investors to benefit from the rising market while monitoring bond yields for future warning signals.
Key Economic Events in the Coming Week
Next week, several key economic events are expected, which could influence the markets:
Current market conditions suggest further potential gains for S&P500. Despite some concerns about the labor market, overall sentiment, seasonal support, and technical indicators point to a continuation of the upward trend. It will be essential to monitor further macroeconomic data and Fed decisions, which will be crucial for future market movements.
S&P500 Shifted to new bullish pattern. 5750 next.The S&P500 index (SPX) made a major bullish break-out in accordance to our previous analysis (June 17, see chart below), where we clearly stated that a break above the 1.5-year (Fibonacci) Channel Up pattern it would indicate a transition to a new (blue) Channel Up:
As you can see that happened and the index is extending that blue Channel, with the long-term prevailing pattern now being the dashed Channel Up. Technically it appears that the price is rising straight after finishing a Cup consolidation structure that is no stranger to it as we've seen it another two times, always leading in the end either to a 2.383 Fibonacci extension target or around +30% rise from the top.
On the current Bullish Leg, the 2.382 Fibonacci extension comes much lower than a potential +30% rise from the April 19 bottom, so as mentioned on our previous analysis, we will be targeting (this time slightly lower) at 5750. If the 2.382 Fib breaks and we close a 1W candle above it, we will extend buying all the way to +30%, i.e. just above 6300.
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NASDAQ INDEX (US100): Bullish Rally Continues
I see one more bullish pattern on US100 index.
This time it is the ascending triangle formation.
The price successfully violated its neckline and closed above that.
It is a strong bullish trend-following pattern.
With a high probability, growth will continue.
Next resistance - 20500
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US500 - Look for a long !!Hello traders!
‼️ This is my perspective on US500.
Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I look for a long position. My point of interest here is if price makes a retracement to fulfill the imbalance lower and takes liquidity below equal lows then rejects from bullish order block I will open a long trade.
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US500 - breakout resistance? What's next??#US500.. overall bullish trend and you can see every time market made an area then consolidate below that after that breakout and new high,
If market continue his pattern then now we have 5486 as resistance area.
If that is breakout then above that level a further bull run expected.
Keep close 5486 around ..
Good luck
Trade wisely
S&P buyers dominate market; sellers wait asideLast week began with a powerful rally. After the bulls failed to push higher the next day, sellers seized the initiative and tried to drive the market lower. However, they didn't accomplish much, and the week ended with a potential reversal pattern on the hourly chart. If this pattern confirms today, we could see another bull run very early. Even if it doesn’t confirm, there is still substantial support just below.
On the longer timeframes (weekly and monthly), buyers still have full control, with no warning signs. While the price is slightly overbought on the daily chart, this is not a significant concern in strong uptrends. Sector rotation appears healthy – despite the market being pressured by weakness in XLK, other sectors (e.g., XLF, XLV) appreciated.
Important economic data will be released on Thursday and Friday. As long as there are no negative surprises, the market is expected to remain strong.
The market outlook is a definite "long". New buyers can try to establish position upon the confirmation of the hourly reversal patters and upon the pullback into consolidation zone (if it happens).
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.