Bearish drop?S&P500 (US500) is rising towards the pivot and could potentially reverse to the 38.2% Fibonacci support.
Pivot: 5,653.09
1st Support: 5,544.83
1st Resistance: 5,727.20
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.
Indices
DOW JONES: Is it forming a BLOW OFF TOP??Dow Jones isn't just having a strong bullish momentum on the 1D timeframe but also on its 1W technical outlook where it maintains a steady bullish overall indicator score (RSI = 64.010, MACD = 036.840, ADX = 29.553). However there are growing concerns coming from the 1W chart as the 1W RSI is posting a Bearish Divergence, trading on a Channel Down while the actual price is on a Channel Up.
This is alarming because last time this showed up was in late 2021 and as we all know led to the bear market of 2022. However the Bearish Divergence prior to that (mid 2017) was false and Dow continued to rise instead for another 4 months before a correction to its 1W MA50. And that is the level that plays the most important role here, the 1W MA50. As long as it continues to support, we will have a bullish trend.
Actually, Dow seems to be attempting a breakout over the Channel Up this month, unlike December 2021. Failure to break though can result into a blow off top.
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Could price drop from here?DJ30 has reacted off the resistance level which aligns with the 161.8% Fibonacci extension and could potentially drop to our take profit.
Entry: 41,785.78
Why we like it:
There is a resistance level that aligns with the 161.8% Fibonacci extension.
Stop loss: 42,102.21
Why we like it:
There is a resistance level that aligns with the 127.2% Fibonacci extension.
Take profit: 41,103.61
Why we like it:
There is a pullback support level that aligns with the 38.2% Fibonacci retracement.
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S&P500: This rally has just started.The S&P500 is bullish on its 1D technical outlook (RSI = 59.284, MACD = 37.100, ADX = 31.869) and is testing the 5,680 ATH R1 level. This is the 4H timeframe and as you see the current rebound was achieved on the 4H MA200. The 4H RSI is on the same levels as May 7th 2024 and November 3rd 2023, which were consolidations before a major Channel Up formation. Our Target is in tact (TP = 6,000).
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The Dollar Index Accelerates Its Decline!The dollar index has been losing strength recently, falling below the 100.50 level. Following the ECB's decision to cut interest rates, expectations for a rate cut by the Fed have also increased. According to money market pricing, there is a 51% probability that the Fed will cut interest rates by 25 basis points this week, and a 49% probability of a 50 basis point cut. This has pushed the dollar index below the 100.50 level.
Technically, if the index falls below the 100.45 level, the 100.30 and 100.00 levels can be considered support. However, if it recovers and moves above the 100.45 level, resistance can be observed at the 100.70 and 100.90 levels.
SPX500 H4 | Falling to overlap supportSPX500 is falling towards an overlap support and could potentially bounce off this level to climb higher.
Buy entry is at 5,563.51 which is an overlap support.
Stop loss is at 5,490.00 which is a level that lies underneath an overlap support and the 50.0% Fibonacci retracement level.
Take profit is at 5,655.91 which is a swing-high resistance.
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Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
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Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Bearish reversal?S&P500 is rising towards the resistance level which is a pullback resistance and could reverse from this level to our take profit.
Entry: 5,673.69
Why we like it:
There is a pullback resistance level.
Stop loss: 5,738.69
Why we like it:
There is a resistance level at the 127.2% Fibonacci extension.
Take profit: 5,548.54
Why we like it:
There is an overlap support level which aligns with the 38.2% Fibonacci retracement.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bearish reversal?US30 is rising towards the pivot which is a pullback resistance and could fall to the 1st support which acts as a pullback support.
Pivot: 41,602.008
1st Support: 40,914.12
1st Resistance: 42,016.97
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.
NVIDIA Wave Count on the 4-Hour Timeframe
🔥 The Uptrend is Approaching
✨ It appears that the stock has completed wave (3), followed by a corrective pattern 🔀 in the form of a triangle 🔼 currently forming to represent wave (4). The only remaining wave to complete this pattern is wave E 🤌.
✨ To confirm the end of wave (4) and the beginning of wave 1 within wave (5), the following conditions must be met:
- Completion of all the ABCDE sub-waves of the triangle pattern.
- A breakout above the key level related to wave E.
Once these conditions are met, the uptrend is expected to continue.
However, If Wave D falls short of the trendline, it could indicate that the market is losing momentum and the triangle pattern may be contracting more than expected.
In short, while it’s ideal for Wave D to touch the trendline, minor deviations can still occur without completely invalidating the pattern, but they should be carefully monitored for potential changes in the overall wave structure.
S&P 500 Daily Chart Analysis For Week of Sep 13, 2024Technical Analysis and Outlook:
Throughout the trading sessions of the current week, the S&P 500 Index has exhibited notable resilience, demonstrating a movement toward the Mean Resistance level of 5648 and the Key Resistance, and completed the Inner Index Rally level of 5666. A resilient rebound to this level in the upcoming week’s session is highly likely, with the possibility of further movement to the subsequent Inner Index Rally at 5739. Conversely, an anticipated downward movement toward the targeted Mean Support level of 5557 is expected upon achieving a resilient rebound.
NASDAQ: Critical breakout ahead that can send it to 22kNasdaq is almost overbought on the lower time-frames but just turned bullish on 1D (RSI = 55.402, MACD = -62.050, ADX = 25.952) and the main reason is that it closed over the 1D MA50 yesterday. This can't be considered a bullish signal on its own as the LH trendline is right over it and is being tested today. If broken, it is very likely to see the next bullish wave of the Channel Up. The previous two waves confirmed the uptrend after a candle closed over the LH.
If that happens, we will aim for a new Channel Up HH at the end of the year, almost at +31% from the bottom (TP = 22,000) like March's High.
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NASDAQ=> Breakout, 19900 next?Hey Traders, in today's trading session we are monitoring NASDAQ for a buying opportunity around 19300 zone, NASDAQ was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 19300 support and resistance zone. Once we get any bullish confirmation a decent target will be 19900 as it's considered the next major resistance NASDAQ will be facing.
Trade safe, Joe.
“Nasdaq Continues Its Uptrend”Expectations that the Fed will implement a 25 basis point interest rate cut next week are being maintained. This situation is perceived positively for the indices. By the end of the year, a total rate cut of 100 basis points is almost certain. The CPI and PPI data suggest that the Fed might not need to cut rates as aggressively as the market had anticipated.
Technically, if the resistance level at 19,500 is permanently surpassed, the rise could gain momentum towards the 19,700 and then 19,950 resistance levels. On the downside, if the index falls below the 19,100 level, a pullback towards the support levels at 18,800 and then 18,450 might be seen.
Dow Jones Breakout And Potential RetraceHey Traders, in today's trading session we are monitoring US30 for a buying opportunity around 40750 zone, US30 was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 40750 support and resistance area.
Trade safe, Joe.
NAS100 H4 | Heading into overlap resistanceNAS100 is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 19,087.46 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level.
Stop loss is at 19,400.00 which is a level that sits above the 61.8% Fibonacci retracement level and a pullback resistance.
Take profit is at 18,324.29 which is a swing-low support that aligns close to the 61.8% Fibonacci retracement level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Heading into 61.8% Fibonacci resistance?US100 is rising towards the resistance level which is an overlap resistance that aligns with the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 19,152.11
Why we like it:
There is an overlap resistance level that lines up with the 61.8% Fibonacci retracement.
Stop loss: 19,632.23
Why we like it:
There is a pullback resistance level.
Take profit: 18,451.49
Why we like it:
There is a pullback support level.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
NAS100USD / TRADING BELOW TURNING LEVEL - 4HNAS100USD / 4H TIME FRAME
HELLO TRADERS
NAS100USD is currently trading below the turning level of 19,088 , indicating downward momentum. There are two potential scenarios:
The First Scenario, the asset is trading below the turning level of 19,088, it indicates a bearish sentiment .The immediate support level is at 18,317. If the price breaks this support, the next support level is 17,876,The price staying below 19,088 suggests a continuation of the downward trend. Support levels at 18,317 and 17,876 provide potential targets where the price could find buying interest or further decline.
The Second Scenario, For an upward movement, the asset needs to break above the turning level of 19,088 and stabilize above it , If the asset closes a 1-hour candle above 19,088, it could move towards 19,535, and possibly reach 19,844,Breaking and stabilizing above 19,088 indicates a shift in sentiment from bearish to bullish. The price targets of 19,535 and 19,844 are based on potential resistance levels or previous highs that could attract further buying.
SPX500 H4 | Overlap resistance at 50% Fibonacci retracementSPX500 is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 5,520.41 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level.
Stop loss is at 5,580.00 which is a level that sits above the 61.8% Fibonacci retracement level and an overlap resistance.
Take profit is at 5,388.72 which is a swing-low support that aligns close to the 50.0% Fibonacci retracement level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
ASX 200 futures enter the “death zone” for bulls ASX 200 SPI futures and bullish moves above 8000 haven’t mixed well in 2024, resulting in a raft of failed breaks, long topside wicks and topping patterns. It’s akin to a “death zone” for bulls, starving rallies of oxygen before eventually reversing.
I’m not outright bearish just because we’re back above the level, especially when momentum indicators are providing mixed signals, but I am interested in what happens near-term as it may dictate what happens longer-term. We’ll either get another topping pattern, or a bullish raid will finally stick. So, I’m waiting. I’m especially interested in how the price fares around 8080, if it gets there. The market has only been able to push through it once and never closed there.
Given the track record and current valuations, I’m more inclined to sell rallies but I want the price signal to do so. If we see another failed attempt around 8080, you could sell with a stop either above the level or the high set in August, depending on your eventual target. On the downside, the 50-day moving average looms as one, with 7871, 7794 and 7721 the next after that.
If the price were to break and close above 8121 before extending the move, the bearish bias would be negated.
Good luck!
DS
Could price drop from here?S&P500 (US500) is rising towards the pivot which has been identified as a pullback resistance and could drop to the 1st support.
Pivot: 5,498.75
1st Support: 5,392.64
1st Resistance: 5,562.88
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.