Over the past seven days, the S&P 500 index(
SPX) has been on a bullish run, frequently hitting new all-time highs. However, in the last two or three weeks, it's been influenced by the ongoing tariff tensions between the U.S. and China.
Let's look at the latest news about the S&P 500 index:
The IMF has flagged that market valuations might be a bit high, hinting at possible corrections. Plus, there's been a fresh look at how well China’s sticking to the 2020 trade deal, and on top of that, a new trade agreement in Southeast Asia is in the mix. So that’s the quick rundown!
Right now, if we look at the S&P 500 on a 1-hour timeframe, the index is near its Resistance lines and has lost its uptrend line, which is a sign of weakening momentum.
We also saw a Shooting Star Candlestick pattern form in the last few hours with good volume, adding credibility to the potential for a pullback.
From an Elliott Wave standpoint, it seems the S&P 500 has completed its wave 3, and we might see a wave 4 correction in the coming hours or days.
There's a noticeable Negative Regular Divergence(RD-) between the recent tops, and even on the daily timeframe, there's a divergence signaling potential weakness.
I expect the S&P 500 could drop at least to its Support line, around the $6,857.
Note: The cryptocurrency market, and especially Bitcoin, has been highly correlated with the S&P 500 index these weeks, and a possible correction in this index could lead to a correction in this market.
Please respect each other's ideas and express them politely if you agree or disagree.
S&P 500 Index Analyze (SPX500USD), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
SPX) has been on a bullish run, frequently hitting new all-time highs. However, in the last two or three weeks, it's been influenced by the ongoing tariff tensions between the U.S. and China.Let's look at the latest news about the S&P 500 index:
The IMF has flagged that market valuations might be a bit high, hinting at possible corrections. Plus, there's been a fresh look at how well China’s sticking to the 2020 trade deal, and on top of that, a new trade agreement in Southeast Asia is in the mix. So that’s the quick rundown!
Right now, if we look at the S&P 500 on a 1-hour timeframe, the index is near its Resistance lines and has lost its uptrend line, which is a sign of weakening momentum.
We also saw a Shooting Star Candlestick pattern form in the last few hours with good volume, adding credibility to the potential for a pullback.
From an Elliott Wave standpoint, it seems the S&P 500 has completed its wave 3, and we might see a wave 4 correction in the coming hours or days.
There's a noticeable Negative Regular Divergence(RD-) between the recent tops, and even on the daily timeframe, there's a divergence signaling potential weakness.
I expect the S&P 500 could drop at least to its Support line, around the $6,857.
Note: The cryptocurrency market, and especially Bitcoin, has been highly correlated with the S&P 500 index these weeks, and a possible correction in this index could lead to a correction in this market.
Please respect each other's ideas and express them politely if you agree or disagree.
S&P 500 Index Analyze (SPX500USD), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Transaction en cours
Trade was activated near resistance linesTrade fermée: cible de profit atteinte
Target Done
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
🚀 Up to 75% Trading Fee Rebates Across 20+ Exchanges:
🤖 t.me/Protrader365bot
-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
🤖 t.me/Protrader365bot
-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.