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Spx500forecast

THREE BLACK CROWS appear on the S&P500In the weekly frame on the S&P500 index, there is a pattern called three black crows and it is a bearish pattern that will lead to a downward move in the upcoming weeks. in July and August 2023, the same pattern happened and the market rebounded for two weeks then the downward move began to make the index retrace about 9% As we can see on the chart the index stopped at the Fibonacci support level in August and last week also, so we expect the rebound will be to the 5208 points level and a new correction will begin.
SP:SPXShort
by IsmailAbdulMeguid
S&P 500 In Trouble The S&P 500 is showing signs that the uptrend is becoming fragile. As you can see there is a very clear rising wedge pattern developing on the daily chart this is a classic bearish reversal pattern and it indicates a shift in supply and demand from bullish to bearish as the buyers can no longer keep prices propped up. This pattern is not confirmed yet as it has yet to break the bottom support trendline but it still can act as a stern warning to be careful going long here. The bearish signal in my opinion would be a break of the bottom support on large volume this would signal traders are beginning to panic and exit long positions and the selling cascade can have a big impact. Target wise If it does break down I think a retest of the previous all time high makes sense but if you want to go off the technical price target it would technically be at the bottom of the wedge at $410 which is bold... RSI is also showing bearish divergences popping up and we are very extended away from the 200 day moving average it is no surprise to say that stocks just may be overvalued and far too extended and probably ripe for profit taking. Also on the fundamental side of things inflation has been coming out sticker and not coming down as seen in the recent CPI and PPI reports which dampens the expectations of early rate cuts and continues to support the "Higher for longer" narrative which again is not a good thing. Overall I am thinking this is looking extremely dangerous and based on technical and fundamental factors I would absolutely not be loading up on fresh longs especially on leverage I would tread carefully and consider thinking twice before you make a decision. CBOE:SPX AMEX:SPY CME_MINI:ES1!
AMEX:SPYShort
by FlippaTheShippa
2
SPX OULOOKSPX FEB WEEK 5 OUTLOOK - Daily - no doubt we have been super bullish here on SPX for last few week going back to December. but it's around the seasonality cycle and on daily TF that it looks in need of a pullback. Origin - 2 scenarios become apparent when we drop down to origin. 1. a small pull to the zone** 5065.01 - 5027.94** and hold above it. if that happens I will look for longs above the higher end of the zone 2. a deeper pullback to **4972.61 - 4951.93** and if price gets absorbed here, I will look to enter long once price holds above the upper end of this zone.
BLACKBULL:SPX500Long
by Osiris992
S&P 500 INDEX $SPX - Nov. 17th, 2023BUY/LONG ZONE (GREEN): $4531.84 - $4726.36 DO NOT TRADE/DNT ZONE (WHITE): $4380.94 - $4531.84 SELL/SHORT ZONE (RED): $4117.36 - $4380.94 Currently there is bullish momentum, as seen coming off the gap up from Monday close-Tuesday open, however; after this momentum upwards we have only seen price go sideways up to today. Price is resting inside a zone towards the top side where bulls can look for a breakout to start entering in longs. For bearish entries there would need to be some structural breakdowns for the bears to enter as the price approaches the $4380.94 level. Both the bullish and bearish zones can be widened to include the entry levels of the respective zones for early entries. This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas. ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
SP:SPX
by TonyAiello