#WaveAnalysis #SPX
• S&P 500 rising inside wave (iv)
• Likely to reach resistance level 4100.00
S&P 500 index earlier reversed up from the key support level 3900.00, standing near the lower daily Bollinger Band and the support trendline of the daily down channel from January.
The upward reversal from the support level 3900.00 started the active short-term correction (iv).
S&P 500 index can be expected to rise further toward the next resistance level 4100.00 (top of the earlier minor correction (iv)).
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• S&P 500 rising inside wave (iv)
• Likely to reach resistance level 4100.00
S&P 500 index earlier reversed up from the key support level 3900.00, standing near the lower daily Bollinger Band and the support trendline of the daily down channel from January.
The upward reversal from the support level 3900.00 started the active short-term correction (iv).
S&P 500 index can be expected to rise further toward the next resistance level 4100.00 (top of the earlier minor correction (iv)).
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#WaveAnalysis #SPX
• S&P 500 rising inside impulse waves (iii) and 3
• Likely to rise to resistance level 4300.00
S&P 500 index recently broke the resistance level 4170.00 (which stopped the earlier waves (4) and 2 in May and June).
The breakout of the resistance level 4170.00 continues the active short-term impulse waves (iii) and 3 – which belong to the sharp intermediate impulse wave (C) from last month.
S&P 500 index can be expected to rise further toward the next resistance level 4300.00 (forecast price for the completion of the active impulse 3).
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• S&P 500 rising inside impulse waves (iii) and 3
• Likely to rise to resistance level 4300.00
S&P 500 index recently broke the resistance level 4170.00 (which stopped the earlier waves (4) and 2 in May and June).
The breakout of the resistance level 4170.00 continues the active short-term impulse waves (iii) and 3 – which belong to the sharp intermediate impulse wave (C) from last month.
S&P 500 index can be expected to rise further toward the next resistance level 4300.00 (forecast price for the completion of the active impulse 3).
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#WaveAnalysis #SPX
• S&P 500 reversed from support level 4080.00
• Likely to rise to resistance level 4200.00
S&P 500 index recently reversed up from the support level 4080.00 (former resistance from the end of January), standing near the 20-day moving average and the 38.2% Fibonacci correction of the upward impulse from January.
The upward reversal from the support level 4080.00 created the daily Japanese candlesticks reversal pattern Morning Star – which ended earlier wave a.
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• S&P 500 reversed from support level 4080.00
• Likely to rise to resistance level 4200.00
S&P 500 index recently reversed up from the support level 4080.00 (former resistance from the end of January), standing near the 20-day moving average and the 38.2% Fibonacci correction of the upward impulse from January.
The upward reversal from the support level 4080.00 created the daily Japanese candlesticks reversal pattern Morning Star – which ended earlier wave a.
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#WaveAnalysis #SPX
S&P 500 broke key resistance level 4310.00
Likely to rise to resistance level 4450.00
S&P 500 index recently broke sharply above the key resistance level 4310.00 (former multi-month high from August).
The breakout of the resistance level 4310.00 accelerated the active minor impulse wave 3 of the intermediate impulse wave (C) from the start of March.
Given the strong multi-month uptrend, S&P 500 index can be expected to rise further toward the next resistance level 4450.00 (target for the completion of the active impulse wave 3).
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S&P 500 broke key resistance level 4310.00
Likely to rise to resistance level 4450.00
S&P 500 index recently broke sharply above the key resistance level 4310.00 (former multi-month high from August).
The breakout of the resistance level 4310.00 accelerated the active minor impulse wave 3 of the intermediate impulse wave (C) from the start of March.
Given the strong multi-month uptrend, S&P 500 index can be expected to rise further toward the next resistance level 4450.00 (target for the completion of the active impulse wave 3).
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#WaveAnalysis #SPX
S&P 500 reversed from support level 4330.0
Likely to rise to resistance level 4450.00
S&P 500 index recently reversed up from the key support level 4330.0 (former multi-month high from August of 2022, acting as the support after it was broken at the start of June) standing near the 38.2% Fibonacci correction of the upward impose from May.
The upward reversal from the support level 4330.00 stopped the previous short-term corrective wave 4.
Given the prevailing uptrend, S&P 500 index can be expected to rise further toward the next resistance level 4450.00 (top of the previous impulse wave 3).
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S&P 500 reversed from support level 4330.0
Likely to rise to resistance level 4450.00
S&P 500 index recently reversed up from the key support level 4330.0 (former multi-month high from August of 2022, acting as the support after it was broken at the start of June) standing near the 38.2% Fibonacci correction of the upward impose from May.
The upward reversal from the support level 4330.00 stopped the previous short-term corrective wave 4.
Given the prevailing uptrend, S&P 500 index can be expected to rise further toward the next resistance level 4450.00 (top of the previous impulse wave 3).
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#WaveAnalysis #SPX
S&P 500 broke resistance level 4500.00
Likely to rise to resistance level 4600.00
S&P 500 index under the bullish pressure after the price broke above the key resistance level 4500.00.
The breakout of the resistance level 4500.00 accelerated the active impulse wave iii of the impulse wave 5 of the intermediate impulse sequence C from the start of March.
Given the prevailing uptrend, S&P 500 index can be expected to rise further toward the next resistance level 4600.00 (target price for the completion of the active impulse wave iii).
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S&P 500 broke resistance level 4500.00
Likely to rise to resistance level 4600.00
S&P 500 index under the bullish pressure after the price broke above the key resistance level 4500.00.
The breakout of the resistance level 4500.00 accelerated the active impulse wave iii of the impulse wave 5 of the intermediate impulse sequence C from the start of March.
Given the prevailing uptrend, S&P 500 index can be expected to rise further toward the next resistance level 4600.00 (target price for the completion of the active impulse wave iii).
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#WaveAnalysis #SPX
S&P 500 index reversed from support level 4535.00
Likely to rise to resistance level 4600.00
S&P 500 index recently reversed up from the key support level 4535.00 (which has reversed the price multiples time earlier this month as can be seen below).
The support level 4535.00 was strengthened by the lower daily Bollinger Band, 61.8% Fibonacci correction of the upward impulse from the middle of July and the upper trendline of the daily up channel from June.
Given the clear daily uptrend, S&P 500 index can be expected to rise further toward the next resistance level 4600.00 (which stopped the previous impulse wave i).
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S&P 500 index reversed from support level 4535.00
Likely to rise to resistance level 4600.00
S&P 500 index recently reversed up from the key support level 4535.00 (which has reversed the price multiples time earlier this month as can be seen below).
The support level 4535.00 was strengthened by the lower daily Bollinger Band, 61.8% Fibonacci correction of the upward impulse from the middle of July and the upper trendline of the daily up channel from June.
Given the clear daily uptrend, S&P 500 index can be expected to rise further toward the next resistance level 4600.00 (which stopped the previous impulse wave i).
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The major US stock indices closed lower last week, sending an important signal of buyer weakness that could trigger a more substantial sell-off in the new week.
The S&P500 (#SPX) ended last week below its 200-day moving average and started the new week close to the October lows near 4200. After rallying to nearly 4400 in early October, the S&P500 temporarily recovered almost half of its losses since the sell-off began in August. However, it then encountered strong resistance in the form of the round level and the 50-day moving average.
Developing this Fibonacci pattern opens a 5% downside potential to 4000. Still, we also look to the 200-week average (now at 3945, or -6%), which could be a centre of gravity for the bears.
The S&P500 (#SPX) ended last week below its 200-day moving average and started the new week close to the October lows near 4200. After rallying to nearly 4400 in early October, the S&P500 temporarily recovered almost half of its losses since the sell-off began in August. However, it then encountered strong resistance in the form of the round level and the 50-day moving average.
Developing this Fibonacci pattern opens a 5% downside potential to 4000. Still, we also look to the 200-week average (now at 3945, or -6%), which could be a centre of gravity for the bears.
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#WaveAnalysis #SPX
S&P 500 broke key resistance level 4385.00
Likely to rise to resistance level 4450.00.
S&P 500 index recently broke the key resistance level 4385.00 (previous double top from October) standing near the 50% Fibonacci correction of the downward ABC correction 2 from July.
The breakout of the resistance level 4385.00 accelerated the active medium-term impulse wave (3).
Given the prevalence of the risk-on sentiment seen today, S&P 500 index can be expected to rise further toward the next resistance level 4450.00.
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S&P 500 broke key resistance level 4385.00
Likely to rise to resistance level 4450.00.
S&P 500 index recently broke the key resistance level 4385.00 (previous double top from October) standing near the 50% Fibonacci correction of the downward ABC correction 2 from July.
The breakout of the resistance level 4385.00 accelerated the active medium-term impulse wave (3).
Given the prevalence of the risk-on sentiment seen today, S&P 500 index can be expected to rise further toward the next resistance level 4450.00.
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#WaveAnalysis #SPX
S&P 500 reversed from long-term resistance level 4600.00
Likely to fall to support level 4500.00
S&P 500 index under the bearish pressure after the earlier downward reversal from the long-term resistance level 4600.00, which stopped the sharp weekly uptrend in July.
The downward reversal from the resistance level 4600.00 stopped the previous minor impulse wave 3.
Given the strength of the resistance level 4600.00 and the still overbought daily Stochastic, S&P 500 index can be expected to fall further to the next round support level 4500.00.
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S&P 500 reversed from long-term resistance level 4600.00
Likely to fall to support level 4500.00
S&P 500 index under the bearish pressure after the earlier downward reversal from the long-term resistance level 4600.00, which stopped the sharp weekly uptrend in July.
The downward reversal from the resistance level 4600.00 stopped the previous minor impulse wave 3.
Given the strength of the resistance level 4600.00 and the still overbought daily Stochastic, S&P 500 index can be expected to fall further to the next round support level 4500.00.
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#WaveAnalysis #SPX
S&P 500 rising strongly
Likely to rise to resistance level 5000.00
S&P 500 index rising strongly after the price broke above the resistance level 4800.00 (which stopped the previous impulse waves 1 and i, as can be seen below).
The breakout of the resistance level 4800.00 accelerated the active minor impulse wave 3 of the intermediate impulse wave (C) from the end of October.
Given the clear daily uptrend, S&P 500 index can be expected to rise further to the next round resistance level 5000.00, target for the completion of the active impulse wave (C).
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S&P 500 rising strongly
Likely to rise to resistance level 5000.00
S&P 500 index rising strongly after the price broke above the resistance level 4800.00 (which stopped the previous impulse waves 1 and i, as can be seen below).
The breakout of the resistance level 4800.00 accelerated the active minor impulse wave 3 of the intermediate impulse wave (C) from the end of October.
Given the clear daily uptrend, S&P 500 index can be expected to rise further to the next round resistance level 5000.00, target for the completion of the active impulse wave (C).
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#WaveAnalysis #SPX
S&P 500 broke key resistance level 4930
Likely to rise to resistance level 5000
S&P 500 index rising inside the minor impulse wave 3 which previously broke above the key resistance level 4930 (which stopped the previous minor impulse wave i at the end of last month).
The breakout of the resistance level 4930 accelerated the active impulse waves 3 and (C).
Given the persistent daily uptrend, S&P 500 index can be expected to rise further to the next round resistance level 5000.
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S&P 500 broke key resistance level 4930
Likely to rise to resistance level 5000
S&P 500 index rising inside the minor impulse wave 3 which previously broke above the key resistance level 4930 (which stopped the previous minor impulse wave i at the end of last month).
The breakout of the resistance level 4930 accelerated the active impulse waves 3 and (C).
Given the persistent daily uptrend, S&P 500 index can be expected to rise further to the next round resistance level 5000.
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#WaveAnalysis #SPX
S&P 500 reversed from support level 4930.00
– Likely to rise to resistance level 5050.00
S&P 500 index recently reversed up from the support level 4930.00 (former support from the end of January), intersecting with the 20-day moving average and the support trendline of the daily up channel from November.
The upward reversal from the support level 1.3530 stopped the previous minor correction (ii).
Given the clear daily uptrend, S&P 500 index can be expected to rise further to the next resistance level 5050.00.
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S&P 500 reversed from support level 4930.00
– Likely to rise to resistance level 5050.00
S&P 500 index recently reversed up from the support level 4930.00 (former support from the end of January), intersecting with the 20-day moving average and the support trendline of the daily up channel from November.
The upward reversal from the support level 1.3530 stopped the previous minor correction (ii).
Given the clear daily uptrend, S&P 500 index can be expected to rise further to the next resistance level 5050.00.
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#WaveAnalysis #SPX
S&P 500 reversed from resistance level 5035.00
Likely to fall to support level 4920.00
S&P 500 index recently reversed down from the pivotal resistance level 5035.00 (which stopped the previous minor impulse wave iii at the start of this month).
The downward reversal from the resistance level 5035.00 created the daily Japanese candlesticks reversal pattern Bearish Engulfing, which was preceded by the daily Evening Star near this price level.
Having just broken the sharp daily up channel from November, S&P 500 index can be expected to fall further to the next support level 4920.00 (low of the previous wave iv).
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S&P 500 reversed from resistance level 5035.00
Likely to fall to support level 4920.00
S&P 500 index recently reversed down from the pivotal resistance level 5035.00 (which stopped the previous minor impulse wave iii at the start of this month).
The downward reversal from the resistance level 5035.00 created the daily Japanese candlesticks reversal pattern Bearish Engulfing, which was preceded by the daily Evening Star near this price level.
Having just broken the sharp daily up channel from November, S&P 500 index can be expected to fall further to the next support level 4920.00 (low of the previous wave iv).
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#WaveAnalysis #SPX
S&P 500 reversed from key support level 5050.00
Likely to rise to resistance level 5115.00
S&P 500 index recently reversed up from the key support level 5050.00 (former resistance from the start of February, which stopped the previous waves v and i).
The upward reversal from the support level 5050.00 continues the active impulse waves iii and 5 of the extended upward impulse sequence (C) from last October.
Given the clear daily uptrend, S&P 500 index can be expected to rise further toward the next resistance level 5115.00.
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S&P 500 reversed from key support level 5050.00
Likely to rise to resistance level 5115.00
S&P 500 index recently reversed up from the key support level 5050.00 (former resistance from the start of February, which stopped the previous waves v and i).
The upward reversal from the support level 5050.00 continues the active impulse waves iii and 5 of the extended upward impulse sequence (C) from last October.
Given the clear daily uptrend, S&P 500 index can be expected to rise further toward the next resistance level 5115.00.
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#WaveAnalysis #SPX
S&P 500 falling inside sharp C-wave
– Likely to fall to support level 5000.00
S&P 500 index continues to fall inside the sharp c-wave of the minor ABC correction ii from the end of last month.
The price earlier broke the support levels 5100.00 and 5140.00, which strengthened the bearish pressure on these index .
Given the worsening sentiment seen across the USA equity, S&P 500 index can be expected to fall further to the next round support level 5000.00.
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S&P 500 falling inside sharp C-wave
– Likely to fall to support level 5000.00
S&P 500 index continues to fall inside the sharp c-wave of the minor ABC correction ii from the end of last month.
The price earlier broke the support levels 5100.00 and 5140.00, which strengthened the bearish pressure on these index .
Given the worsening sentiment seen across the USA equity, S&P 500 index can be expected to fall further to the next round support level 5000.00.
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#WaveAnalysis #SPX
S&P 500 reversed from support level 5000.00
– Likely to rise to resistance level 5300.00
S&P 500 index recently reversed up from the support zone lying between the round support level 5000.00 (which also stopped the previous correction (2)), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from January.
The upward reversal from the support level 5000.00 stopped the previous short-term correction 2.
Given the strong uptrend that can be seen on the daily charts, S&P 500 index can be expected to rise further to the next resistance level 5300.00 (which stopped the previous impulse wave 5 at the end of March).
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S&P 500 reversed from support level 5000.00
– Likely to rise to resistance level 5300.00
S&P 500 index recently reversed up from the support zone lying between the round support level 5000.00 (which also stopped the previous correction (2)), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from January.
The upward reversal from the support level 5000.00 stopped the previous short-term correction 2.
Given the strong uptrend that can be seen on the daily charts, S&P 500 index can be expected to rise further to the next resistance level 5300.00 (which stopped the previous impulse wave 5 at the end of March).
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#WaveAnalysis #SPX
S&P 500 broke key resistance level 5500;
Likely to rise to resistance level 5700.
S&P 500 Index is under the bullish pressure after the price broke above the key resistance level 5500, which stopped the previous waves i and b at the end of June.
The breakout of the resistance level 5500 continues the active multi-impulse sequence made of the different-dimension nested impulse waves – iii, 3 and (3).
Given the clear daily uptrend, S&P 500 Index can be expected to rise further to the next resistance level 5700 (target price for the completion of the active impulse wave 3).
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S&P 500 broke key resistance level 5500;
Likely to rise to resistance level 5700.
S&P 500 Index is under the bullish pressure after the price broke above the key resistance level 5500, which stopped the previous waves i and b at the end of June.
The breakout of the resistance level 5500 continues the active multi-impulse sequence made of the different-dimension nested impulse waves – iii, 3 and (3).
Given the clear daily uptrend, S&P 500 Index can be expected to rise further to the next resistance level 5700 (target price for the completion of the active impulse wave 3).
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#WaveAnalysis #SPX
S&P 500 continues daily uptrend;
Likely to rise to resistance level 5675.
S&P 500 Index recently reversed from the support area between the key support level 5500 (former resistance from June) and the 38.2% Fibonacci correction of the previous upward impulse from May.
The upward reversal from this support area will likely form the daily Japanese candlesticks reversal pattern Bullish Engulfing if the price closes today near the current levels – a strong buy signal for this index.
Given the clear daily uptrend, S&P 500 Index can be expected to rise further to the next resistance level 5675 (top of the previous wave i).
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S&P 500 continues daily uptrend;
Likely to rise to resistance level 5675.
S&P 500 Index recently reversed from the support area between the key support level 5500 (former resistance from June) and the 38.2% Fibonacci correction of the previous upward impulse from May.
The upward reversal from this support area will likely form the daily Japanese candlesticks reversal pattern Bullish Engulfing if the price closes today near the current levels – a strong buy signal for this index.
Given the clear daily uptrend, S&P 500 Index can be expected to rise further to the next resistance level 5675 (top of the previous wave i).
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#WaveAnalysis #SPX
– S&P 500 Index under bearish pressure
– Likely to fall to support level 5200.00
Read more
– S&P 500 Index under bearish pressure
– Likely to fall to support level 5200.00
Read more
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Forex - S&P 500 Index Wave Analysis 2 August 2024 | Technical analysis
- S&P 500 Index under bearish pressure - Likely to fall to support level 5200.00 S&P 500 Index is under the bearish pressure after ...
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