SPX/S&P 500/US 500

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Original post - 2nd Aug 2019 

Posted here - 2nd Aug 2019

[S&P500, US500, SPX Futures Update] Moving exactly in line with the update. SPX reversed exactly near the key resistance of 3012 yesterday and has broken the key support of 2949 and now moving very close to the target region of 2920.

Traders who are short from the key resistance region have a gain of almost +70 points. Important to lock gains on this trade by moving SL.

Original post - 1st Aug 2019 

Posted here - 2nd Aug 2019

[S&P500, US500, SPX Futures Update] SPX did see a knee jerk reaction sell off from 3020 zone & was at a striking distance of taking out the critical key support of 2949 yesterday. It bounced off this support just in time to save SPX from a technical breakdown. 

SPX has multiple key resistances formed at 3002, 3012 & 3018. As long as SPX trades below these key resistances, another attempt to break the key support of 2949 & a move lower to 2900-2920 cannot be ruled out.

Original post - 18th July 2019 

Posted here - 18th July 2019

[S&P500, US500, SPX Futures Update] As anticipated, SPX did start the retracement right near the key resistance of 3024 and also broke the key support of 2987, a few hours back. It is now down more than +50 points trading at 2974.

Short positions from near 3023 should lock gains by moving SLs.

Original post - 15th July 2019 

Posted here - 18th July 2019

[S&P500, US500, SPX Futures Update] 3024 & 3046 are the next two critical KEY resistances on the SPX. These are the last two extended fibonacci resistances on this large macro-pattern which can facilitate the formation of a MAJOR TOP for a reasonable correction to lower 2900 levels. Earnings season begins today and it shall provide a realistic authentication and validation to the euphoria in the indices.

Original post - 3rd July 2019 

Posted here - 3rd July 2019

[S&P500, US500, SPX Futures] S&P 500 is very close to the 2985-2990 target shared yesterday for wave(v). Traders who are long from 2955 should look to book gains and wait for the next opportunity.

 

Original post - 3rd July 2019 

Posted here - 1st July 2019

[S&P500, US500, SPX Futures] S&P 500 is currently in a wave (iv) micro-pattern which may correct to 2959-2953 key support zone. Once the wave(iv) completes, SPX should see a wave (v) bounce to 2985-2995 zone.

Any longs should look for entry points near the key support zone with a tight SL right below the key support.

 

Original post - 24th May 2019 

Posted here - 2nd June 2019

[S&P500, US500, SPX Futures] [Trade Strategy] [SWING/POSITIONAL]

SHORT AT 2834-2840 for TARGETS at 2785 or lower, SL AT 2865

Comments:- We might be closer to the wave (iii) scenario on S&P & only a move below yesterday's low of 2805 shall provide us this confirmation. If the wave (iii) scenario is confirmed, then the door opens to much lower levels. That said, important to note that there is also one 'low probability scenario' pointing to a move near 2900 before this reversal.

We are taking a calculated risk with the scenario that seems higher probability for now.

 

Kindly ensure SMALL POSITIONS. Positions may be added once there is confirmation.

 

 

Original post - 15th May 2019 

Posted here - 15th May 2019

[SPX/S&P 500/US500]  Time to book gains on intraday trade on S&P 500 at around 2818-2819. Short trade was recommended when S&P was at 2844.

 

Original post - 15th May 2019 

Posted here - 15th May 2019

[SPX/S&P 500/US500] [Trade Strategy] [INTRADAY]

Primary Scenario:- SHORT AT 2841-2849 for TARGETS at 2810, SL AT 2855

Comments:-  Looks like we might have completed wave A of the micro-pattern. Expecting a correction to 2810 region.

 

That said, continuous flow of updates from Beijing and Washington on the trade deal remain a RISK. Any new tweet or update can cause whipsaw again. As long as such fundamental disruption do not occur, the scenario has a good probability of playing out.

Tight SL extremely important. Small Positions only.

Original post - 22nd March 2019 

Posted here - 26th March 2019

 

[SPX/S&P 500/US 500] S&P 500 trade is now +60 points. Important to book partial/all profits for short-term traders. Swing traders may move SL to 2828 and lock ~+30 points.
 

Original post - 21st March 2019 

Posted here - 26th March 2019

 

[SPX/S&P 500/US 500] SPX is currently trading near 2820. On a longer positional time-frame, SPX remains in a BULL trend. 

On micro-trends, SPX is in Wave 5 moving towards 2876 and seems to be approaching a major point of correction/reversal. We may/might have already seen a new high and a peak in the 2840-2876 zone and a REVERSAL is a 'high probability' scenario.

2843 and 2876 are KEY resistances.

Trading Strategy: Provides a 'SHORT' trade opportunity with ENTRY POINT near 2840-2876 towards 2700 or lower. SLs should be slightly above 2880. 

Scenario VOID above 2880.

US-China Trade Deal Announcement is a fundamental EVENT RISK for this scenario. The deal may disrupt the pattern or form a catalyst to support it. The devil is in the details of the deal.