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Spx500long

S&P 500 is back on track.Hello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ The S&P 500 finished at all-time highs on Monday, as earnings season kicked into high gear in one of the strongest reporting weeks of the quarter, with leading indicators in many industries set to report results. The S&P 500 gained 21.58 points, or 0.47%, to 4,566.48. After a setback and a huge drop that happened 2 weeks ago with the cause being the big problems that happened in China with Evergrande, The S&P is back on track now, and it's breaking new highs each week Possible Scenarios for the market : Scenario 1 : The S&P has been having a great Bullish movement that will probably lead the market price even further soon, we will be seeing the market reaching the first resistance located at 4587.76 where we might have a small setback but most likely the S&P will breakout and continue pushing reaching the 4701.56 level soon. Scenario 2 : After reaching the first resistance at 4587.76 we could be seeing a small pullback that will drive the price down near the support zone located at 4473.96 where the Bulls will try to snap back control over the market and push the price back into Scenario 1. Technical indicators show : 1) The market is above the 5 10 20 50 100 and 200 MA and EMA (Strong Bullish sign) 2) The MACD is above the 0 line indicating a Bullish market with a positive crossover between the MACD line and the Signal line. 3) The ADX is at 22.05 showing that the market is trending with a positive crossover between DI+ and DI-. Weekly Support & Resistance points : support Resistance 1) 4473.96 1) 4587.76 2) 4403.03 2) 4630.63 3) 4360.16 3) 4701.56 Fundamental point of view : U.S. President Joe Biden on Monday held out hope for an agreement on his major spending plans before attending a climate summit in Scotland, while the White House said Democratic negotiators were closing in on a deal. The majority of the 11 major S&P sectors advanced, with energy and consumer discretionary shares the best performing, as energy names received a boost from another rise in oil prices to multiyear highs on tight supply. This week, 165 components of the S&P 500 are expected to post quarterly results, according to Refinitiv data. Analysts expect earnings at S&P 500 companies to grow 34.8% year-on-year for the third quarter. Investors are also assessing how companies are navigating supply-chain bottlenecks, labor shortages and inflationary pressures to sustain growth. Of the 119 companies in the S&P 500 that have reported earnings through Monday morning, 83.2% have topped analysts' expectations. According to Reuters This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
SP:SPXLong
by GabiDahduh
SPX readySPX has given 2 strong reactions at the support level at 4300. I was expecting this, although FUD was hovering in the news, the gov wouldn't let the market fall...yet. New bill infrastructure and the debt ceiling readjustment SPX will be free to hit another all-time high. This one was a little shakeout, a warning sign. The SPX has painted a beautiful double bottom and I expect the index to find resistance at 4440 before taking off for the new ATH. This exhaustion move was a good buying opportunity. 4630 is my short term target
SP:SPXLong
by CFcryptoTA
S&P still promising A lot of people have been calling for a stock market crash for a long time. However, I'm afraid I have to disagree. From a technical point of view, there is no doubt the S&P is losing momentum as it can be appreciated in the momentum indicators. The price is making new higher highs, but the momentum is doing lower highs. However, the Elliott wave technicals are saying otherwise. I have drawn here the secular cycle and primary cycle aligned. S&P is in the middle of a 3rd impulsive wave with a minimum target of 5200. That's where I believe the S&P (if confirmed by technical) will have a retracement or cool off down to 4200. People will turn really bearish, but the S&P will turn bullish for the last 5th leg up to 6200. That is where the bear market will start, and I expect the market to collapse at least 30%, with my real target standing at 50% around 3200. The end of wave 3 would be the best time to start slowly rotate your profit and capital into assets such as commodities to edge against the crush. At the end of wave 5, you should aim to be 85% - 90% out of the stock market. I am happy to hear your opinions; please leave a comment below.
SP:SPXLong
by CFcryptoTA
The S&P Bullish trend is still ActiveHello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ The Bullish trend that started in November where the SPX index started moving up in an Ascending Channel is not stopping yet. The trend is still giving Bullish signals where we kept getting higher highs and higher lows. The S&P 500 index booked fresh record closes on Thursday, despite falling from the session’s best levels, ahead of a highly anticipated August employment report on Friday. The index price is still not showing any signs of weakness and most likely the Index movement for the next period of time will be like this : If we look at the chart and where the market is right now we see that every time the SPX hit the upper end of the Ascending channel it always dropped into the middle range of the Channel, We probably won't see a big Bullish breakout in the Index right now, so the price most likely will be dropping this week a bit and it will be headed near the first support line at 4474.64 and if the Bears were able to gain more control then it could reach the second support at 4439.92 where the major Bull power will be and where the bounce back up will happen that would get the index above the resistance zone between 4528.74 - 4548.12. Technical indicators are showing this : The S&P 500 index is trending above the 5 10 20 50 100 and 200 MA and EMA ( Bullish Sign) The MACD is above the 0 line showing that the market is in a Bullish state, With a positive crossover between The MACD line and The Signal line. The STOCH indicator is in the overbought zone, With a positive crossover between %K (95.00) and %D (92.84). *The overbought zone indicates that the price might drop down. The Ultimate Oscillator is at 79.95 sitting in the overbought zone. The overbought zone indicates that the price might drop down. Support & Resistance points : Support/Resistance 1) 4474.64 1) 4528.74 2) 4439.92 2) 4548.12 3) 4420.54 3) 4582.84 Fundamental point of view : On Thursday, the S&P 500 rose to records on the back of better-than-expected jobless claims data. The initial filings for unemployment insurance fell to their lowest levels since March 2020. The Labor Department reported first-time jobless claims totaled 340,000 for the week ended Aug. 28, compared with the 345,000 estimate. The S&P 500 climbed 0.3%, hitting its 54th record closing high of 2021. Investors are now looking ahead to August’s nonfarm payrolls report — released Friday morning — which could give clues about how fast the Federal Reserve will remove easy monetary policy. Economists polled by Dow Jones expect 720,000 jobs were added in the month, down from 943,000 jobs added in July. The unemployment rate is expected to dip to 5.2%, compared to 5.4% in July. According to CNBC Markets This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
SP:SPXLong
by GabiDahduh
S&P 500 The trend is not stoppingHello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ A Bullish trend started in November where the SPX index started moving up in an Ascending Channel and the trend kept giving Bullish signals where we kept getting higher highs and higher lows. The S&P 500 jumped to record closes for a third straight day on Thursday, with mega-cap technology stocks driving the market higher as investors warmed to jobs data showing a steady U.S. economic recovery. The index price is still not showing any signs of weakness and most likely the Index movement for the next period of time will be like this : Scenario 1 : The Index price is at 4429.29 trendings near the first resistance level at 4460.08 and it's gonna try to breakout of that resistance line if the Bulls were able to keep control then we could be seeing the S&P going even further and hitting the resistance levels at 4483.64 or even 4527.08. Scenario 2 : If the bulls try to make a move now then we will see a drop in the price that's gonna be headed to near the first support line at 4393.08, where the Bulls and the Bears will battle over control of the trend, The bulls are most likely to win since we have no signs of a reversal yet and the result will bounce the price back up to near the resistance level at 4460.08. Technical indicators are showing this : 1) The S&P 500 index is trending above the 5 10 20 50 100 and 200 MA and EMA (Bullish Sign) 2) The MACD is above the 0 line showing that the market is in a Bullish state, With a positive crossover between The MACD line and The Signal line. 3) The STOCH is in the overbought zone and has been trending there for the last 10 days, With a positive crossover between %K (98.94) and %D (95.92). 4) The Ultimate Oscillator is at 63.704 giving a Bullish sign Support & Resistance points : support Resistance 1) 4393.08 1) 4460.08 2) 4349.64 2) 4483.64 3) 4326.08 3) 4527.08 Fundamental point of view : The IGCS gauge (IG Client Sentiment Report) implies that 31% of retail investors are net-long the S&P 500. Upside exposure has increased by 1.62% and 9.07% over a daily and weekly basis respectively. The fact that traders are net-short hints that prices may continue rising. The combination of this and recent changes in sentiment are offering a stronger bullish-contrarian trading bias. All three main equity benchmarks closed higher Thursday and the Dow and S&P 500 booked a third straight record finish after fresh labor-market data provided insight on the pace of the recovery. The moves for stocks came even as a reading for wholesale inflation came in hotter than expected. the S&P 500 index SPX, +0.30% advanced 0.3% to 4,460, led by gains in health care XLV, +0.79% and technology XLK, +0.57%. The S&P 500 closed at records in three consecutive sessions for the first time since March 15. According to Marketwatch This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
SP:SPXLong
by GabiDahduh
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