US said Israel hit Iran and this will impact US equity due to risk on oil. Mostly US equity do not change trend so easily with out testing ket levels.
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Breakout of 2 year rounding bottom Pattern tgt is beyond 6000 last couple of weeks are showing some weakness we may get possible retest of levels mentioned and from there it might resume its upward journey
As shown in daily chart of SPX, price made breakdown from three months old upward channel. If it failed to enter again in the channel then selling pressure will increase significantly. There is no good correction of price since last few months. Long unwinding & short selling will push the SPX down. Do or Die condition for the index.
SPX has been up only since crossing previous ATHs. Q1 just closed and Q2 day 1 is closing below the closest weekly levels. Don't fade an upcoming price expansion (or 2) in this month. Immediate key downside support for SPX is the prev ATH, which is 9% under from here. Invalidation - SPX daily close at ATHs.
Early signs of reversal in us markets, expecting deeper cuts in coming weeks. Stay Cautious.
These are the most clean price action based Elliot wave chart I found during analysis I hope everyone can take guidance from it
This is my analysis on this following pairs watch and see how the market seems to be respecting my setup
S&P 500 nears to the edge of a rising wedge structure with negative divergence in RSI on daily charts with loosing momentum upside likely to retrace downside with probable support levels marked as horizontal lines
- SPX looks over extended to me - All US Indices look over extended to me but you can't short it anyways - The whole playout here is based on catching retracements and not shorting anything - IMO trade less unless you find an A+ setup
A trading strategy with sound money management. Feel free to use and edit at will. This strategy currently works well in btc, spx and nifty50.
he benchmark S&P 500 index closed at a record high on Wall Street Friday, but sentiment could quickly turn as corporate profit margins appear to be peaking, according to analysts at JPMorgan. Equities appear to be in demand because investors expect corporate profits to accelerate, supported by the bottoming out in activity indicators that is now in progress,...
S&P 500 run to upside continues with the High of 5111.06 on Friday 23 feb 2024 at 19:30 IST. Hourly buy triggered above 4744.35 with a decent rise thereafter. Oure level to watch is 5119.79 on the upside. Above it nearby targets of 5307.51 on the upside. The level on downside to watch is 5052.21. Time to watch is 28 Feb 2024 00:30 IST. Happy Trading !!!
S&P 500 is the most advanced and most trade market and also most matured market to analyse and trade. You need the qualities of a seasoned campaigner to tame the beast. Here is where Gann Trading Systems can help you a lot to understand it. Look at the chart above. We got a double bottom on hourly charts at 4819.09 on 05 Feb 2024 at 20:30 IST. Another bottom at...
On Weekly Basis: S&P 500 (SPY) completed its correction from 4800 to 3490 in its 5 Wave Down. Fibonacci 50% retracement from bottom 2300 to top 4800 ends at 3540, a support level in October, 2022. It took a support at 4115 which is a long-term horizontal support with multiple pivots on weekly charts. It looks like a fresh new Wave has just started from 4115...
1) Please do not enter early here. 2) Buy stop order trading set up. 3) Follow all the risk management rules All the best.
S&P 500 has made a new All Time High at 5030.06 at 00:30 IST on 10 Feb 2024. Short term buy came it at 4928.97 Gann level at 20:30 IST on 05 Feb 2024. Level to watch on upside for resistance is 5052.40 at 50% levels seen on chart. 5026.50 is square nine level to watch with resitance as per it at 5046.75/5055.87. Staying above 5010.45 is must for momentum. Happy...