The breadth measured based on the number of stocks above or below the 50dma can be a good sentiment indicator. Weakness shows lower market participation at new highs and should set it up for a correction. Diffusion indicators like this are sometimes useful, especially while gauging the short-term trend.
SP500 weekly Gann levels have worked beautifully till now. 75% level was 4695.83 worked as weekly support with one week against the trend which was up. Recent weekly low was 4682.11. Note 18 Dec 2023 low was 4697.82 above which were back in the game for further upside. Again the level of 75% was or guide to go long at 4695.83. Above this level we had a target of...
S&p 500 index currently trading near its all time high, and perfectly made the evening star pattern at this strong resistance, looking positionally bearish.
Note :- Not any recommendation, just sharing my view for the s&p 500 index.
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US SPX 500: Bulls Getting Lethargic, and At Risk of a Minor Corrective Decline
The US 10-year Treasury yield has pierced above 4.06% & its 200-day moving average; a sign that recent easing liquidity conditions have started to abate.
A 3-year low seen in the implied correlation among S&P 500 constituents may trigger an imminent spike in the VIX.
The S&P 500 is...
The last time SPX crossed the weekly supply, there was a 10% multi week drawdown.
The pattern follows now and being a even more significant level now, be ready for 4217 in SPX in a few weeks, before any weekly uptrend.
Invalidation: Weekly SPX close above 4766.
- Spx is currently hovering near the overhead supply
- Spx can throw up big soon
- I think before shaking out bears SPX can again grab some liquidity from the demand zone
- Retrace more and add back up
- Risk here is 0.3%
1. January - The Value at Play
Before we start discussing the different technical chart patterns, we need to have some clarity on how buying and selling happens on stocks and options. Every trade has a buyer or seller. That means at a specific point in time, for a specific price there are 2 conflicting thoughts
Someone who thinks the price is too cheap
...
CBOE:SPX is at a very crucial zone. This is the old high and it is very important for this index to close higher if we want to see further momentum in the US markets. US Markets have not been in the strongest of moves recently and hence, it is imperative that some strength is shown here.
Some RED FLAGS:
1. Bearish Div on Daily
2. ALMOST creating Bearish Dive on Weekly
3. The Economy is not in good condition
Green Flags:
With the rate cut slow down, now the inflation really kicks in like GOLD pumps
SNP 500 index around 4800
daily time frame
Double wedge structure
both wedge confluence around same resistance levels
if not able to sustain at high levels
and if the reversal confirmation is observed,,
index might retrace by 5-7 easily
Time to watch will be 4 the week of Jan 2024.
Price squaring level is 4795 recent high is 4793.30.
Above 4795 price will be ahead of time.
Critical time period is 2nd week to 4th week of Jan 2024. 😊
Both the levels marked on chart are important for rise or fall on the index. Use them as decision making levels for moves above or below them. If it remains between then playing the range can be a trade for very short term traders.
Happy Trading !!!
Hello & welcome to this analysis
The index saw a super duper reversal from a Bullish Harmonic Bat in end October near 4100.
Now it has an immediate resistance coming up near 4600 where we might see some consolidation, above that it enters into the PRZ of a Bearish Harmonic Alt Shark near 4650 which could trigger some profit booking.
From 1 harmonic pattern...
The SPX500's upward journey within the confines of the rising channel suggests a market that is optimistic about future economic conditions and company earnings. However, the path is not linear, which is typical of stock markets; it's characterized by peaks and troughs even within a general trend, reflecting the constant ebb and flow of investor sentiment and...
SPX at such a critical junction, so suitable for a high leverage trade.
Within a week, expect 4800, or a 4% move.
Invalidation: Daily close below daily demand at 4568
Dear Traders,
We have observed the S&P500 chart to be trending in a trend channel since the lows of 2009 crash. Also, market few local support & resistances. The conclusion we got from this is very simple. S&P500 heading for a fresh bull run for the targets of the levels of 6500 + within 2-3 years of time span.
Which sectors will be leading? Please comment and...
Welcome to my first analysis on englush language.
Macroeconomic Context
November 2023 has been a month marked by key macroeconomic dynamics. The fall in 10-year bond interest rates has had a significant impact on the market, generating a well-known negative correlation that justifies an increase in stocks. However, this rapid rise in stock prices has made it...
