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SPX Daily TA Neutral BearishSPXUSD Daily neutral with a bearish bias. Recommended ratio: 45% SPX, 55% Cash. * JOBS REPORT WATCH . The Employment Situation is released tomorrow (08/05) at 830am (EST) and markets seem to be rallying as if unemployment is going to stay flat or go up insignificantly. If this scenario plays out, it will be interesting considering labor force participation continues to trend down from March , weekly jobless claims went up , there's been a notable increase in layoffs over the past few months and many corporations announced they are going to slow hiring through the end of the year. Equities continue their rally with the S&P posting its biggest bounce of the year (13%) since its June 16th low, reflecting that consumer sentiment regarding inflation, supply chains, FFR and Russia/China is very optimistic heading into 2023. Yesterday, OPEC+ agreed to raise output by 100,000bpd starting in September, compared to the ~600,000bpd increases in July and August this sent the price of Oil back up heading into September; which is likely to result in more inflationary pains for consumers. Taiwanese news agencies have reported that China has been conducting the closest military drills yet and have launched a record number of cyberattacks at Taiwan since Pelosi's visit . Blackrock will be offering crypto to their ~200 institutional investors through Coinbase Prime and Coinbase partnered with Meta to allow for NFTs to be shared on Instagram from Coinbase Wallet ; both of these reports sent COIN up 45% in today's session and probably made Cathie Wood shite her pant$ after selling 1.133m shares at ~$55 last week (Price is currently ~$88). The Atlanta Fed released their third Q3 GDP estimate and it came in higher than the last going from 1.3% to 1.4%. Apparently today the White House joined the WHO in labeling Monkeypox a public health emergency . Key dates: July Jobs Report at 830am (EST) 08/05; July CPI at 830am (EST) 08/10; 4th Atlanta Fed Q3 GDP Estimate 08/10; July PPI at 830am (EST) 08/11.* Price is currently testing $4175 resistance as it awaits the Jobs Report tomorrow morning. Volume remains Moderate (high) and has favored sellers in two of the past three sessions, indicating that $4175 resistance is seeing quite a bit of selling pressure. Parabolic SAR flips bearish at ~$4k (-3% from current Price), this margin is mildly bearish. RSI is trending down slightly at 65 after forming a peak at 66, this is currently exhibiting mild Bearish Divergence from Price; a potential Double Top formation is also forming just below 68 resistance which is something to watch for. Stochastic remains bearish but is currently attempting to cross over bullish at 93; the next support is at 76. MACD remains bullish for the 41st consecutive session and is currently trending up at 65 with no signs of peak formation; it is still technically testing 55 minor resistance. ADX is currently trending up at 22 as price pushes higher, this is mildly bullish. If Price is able to break above $4175 resistance then it will likely retest the 200 MA + the upper trendline of the descending channel from November 2021 at ~$4300 . However, if Price is rejected here, it will likely retest $4100 before potentially retesting the uptrend line from 06/16/22 at $4k psychological support . Mental Stop Loss: (two consecutive closes above) $4175.
SP:SPX
by dailytaguy
$MNDT Outpaces its Sectorial Peers The technology sector has played a leading role in powering the market's gains over the past couple of decades. Tech's ability to shape almost every industry means the sector remains one of the best starting places for investors seeking big gains, even during this bearish market. My top pick for this sector is MNDT, a cybersecurity disruptor that is a winner for your growing portfolio today. As seen in the chart, MNDT (+31.94% YTD) is far-outperforming its sectoral peers as tech has taken a double-digit tumble in recent months. For instance, mega cap tech companies such as MSFT (-17.90% YTD), APPL (-12% YTD) and GOOGL (-20.60% YTD) have all underperformed relative to MNDT. This is the case too for FTNT, a fellow cybersecurity player, which has registered a 9% decline YTD despite outpacing the broader tech sector as a whole. Sectoral cybersecurity ETF’s like BUG (-16%), XLK (-18%) and CIBR (-18%) also lag far behind MNDT’s YTD gains. Relative to QQQ, MNDT has outpaced the Nasdaq baseline by some 50%, indicating just how bullish this stock is against the backdrop of an ongoing bear market.
AMEX:XLK
by John_Sanders
Is the S&P 500 DOWNTREND OVER? The price is moving according to my last analysis on July 29th of the S&P 500 Futures. The market is taking a breath from last week, yesterday it closed more or less at that support area of $4100. We still have some important earnings incoming, I stick with my point that we can use the momentum to get to $4200 or even higher. However, in order to break this DOWNTREND, we need to get above $4500 and maintain. I'm not going to spend time talking about breaking the resistance of $4500 , as I see it extremely unlikely to happen. During the next few days, the market can decline till $3950 support , in order to get some volume and make new higher highs around $4200 . The economic environment is bearish for the stock market, unless the FED decides to decrease interest rates and start printing again, avoiding fighting inflation, destroying the currency as a result. The scenario that I think is going to happen is that we will continue the downtrend that started in the beginning of the year 2022. From my humble opinion, this was just one more rally in a bear market, maybe a bull trap that can last a few weeks more. I see the market between a range of $2800-$3500 till the end of the year, unless something big happens and reverses the downtrend. Honestly, I think they are just trying to keep the market up the longer they can, in order to sell their balance sheet at higher prices, starting from September. This thing can reverse in every moment, or it could continue to be bullish the next trading sessions. Better wait to trade to the downside till some clear reversal appears . Good luck with your investments. Earnings Releases to keep an eye on: - Marathon Petroleum (MPC), Occidental (OXY), BP (BP) - AMD (AMD) - Starbucks (SBUX) - Caterpillar (CAT) - PayPal (PYPL) - Gilead (GILD) - Airbnb (ABNB) - Marriott (MAR) - Uber (UBER) - Electronic Arts (EA) - Waste Connections (WCN) - Illinois Tool Works (ITW) - Cummins (CMI) - IDEXX (IDXX)
CME_MINI:ES1!Short
by GenadiYankov
8
$BABA Is Alibaba Ready To Be Treasured In Our Portfolios?Traders, Speaking to my of my investor friend in the US around a year ago, I predicted alibaba to fall below 100 and that's when we could get a chance to buy back again. Alibaba $BABA Has been consolidating at the current levels for few months under 100 dollars. Now as it has created a very good pattern inside the bollinger band, this can become a speculative buy in our portfolio again. The risk is limited i.e. stop loss will be below last lowest low and the target much higher giving us very good Reward to Risk.
NYSE:BABALong
by vikinsa
1
Possible next move in SPXHi everyone. Today I'm gonna talk about SPX. In this moments the price have 2 posibilitties: Option A: We have a double bottom pattern and the price will go to the level of pattern and then we need to wait a intentional canddle who confirms the change pattern. In this point it's good enter to long (more risk) Option B: The price will go to te resistance and then will fall to the support (here we can enter with a short). In the support we need to wait if the price will go down or bounce to the resistance again (good opportunity to enter long) Thanks for read this and leave me a comments or questions and if you like this analysis, follow me. See you soon !
SP:SPX
by huraz
SPX Daily TA Neutral BearishSPX Daily neutral with a bearish bias. Recommended ratio: 48% SPX, 52% Cash. * NANCY PELOSI WATCH. S&P Global released their final July US Manufacturing PMI estimate this morning and it came in at 52.2, slightly lower compared to both June's PMI and the consensus estimate of 52.3; this is the lowest it has been since July 2020. The Atlanta Fed released their second GDPNow Q3 estimate today and it came in at +1.3%, down from the initial estimate of +2.1% on 07/29/22. According to Reuters, CNN and 'Taiwanese media', Nancy Pelosi is scheduled to visit Taiwan tomorrow against the wishes of the PRC; though military countermeasures have been promised but are not expected, if this does happen it would surely shake up markets due to the uncertainty regarding how mainland China will respond. Key dates remaining this week: Nancy Pelosi potentially visiting Taiwan tomorrow night (08/02) and speaking to lawmakers and human rights groups on Wednesday (08/03); St. Louis Fed President James Bullard speaks @ 645pm EST (08/02); Cleveland Fed Loretta Mester speaks 12pm EST (08/03); July BLS Employment Situation @ 830am EST (08/04).* Price is currently facing some selling pressure at ~$4120 as it aims to retest $4175 resistance. Volume is Moderate and on track to favor buyers for a fourth consecutive session if it can close today in the green. Parabolic SAR flips bearish just below the 50 MA at $3900. RSI is currently trending down slightly at 65 after forming a peak at 66 (just below 68.42 resistance); Hidden Bearish Divergence between Price and RSI can be seen from 06/02/22, this is significant due to the potential local Double Top formation. Stochastic remains bullish but is trending down at 98.5 after testing max top for the first time in ten sessions; if it breaks below 93.5 it would be a bearish crossover. MACD remains bullish for the 38th consecutive session and is currently trending up at 49.50 as it approaches 55 minor resistance with no signs of peak formation. ADX is currently trending up at 19 as Price pushes higher, this is mildly bullish. If Price is able to push higher then it will likely formally retest $4175 resistance where it may see a bit of selling pressure. However, if Price breaks down here, it will likely retest the uptrend line from 06/16/22 as support at ~$4k . Mental Stop Loss: (one close above) $4175.
SP:SPX
by dailytaguy
Heading for Recession or going higher...analysis and key levelsThere has been a lot of talk of the US heading into recession, and while the Fed and Politicians deny it, most feel that we are already 'in' a recession. The Fed will of course do and say all they can to keep the stock markets orderly and supported while trying their best to bring down inflation. Key now is to watch inflationary and economic data. In the video I look at the major stock markets in the US , Europe and Asian...and look at the key levels that I am watching for some action. Technically the Indexes are still in a downtrend but we have seen some buyers go risk on into the end of the month....so the question is will this continue??!!
COMEX:HG1!
by TradeTheStructure
Tesla showing signs of a possible bullish breakout TSLA has been consolidating in a very slightly ascending wedge (possibly triangle) after a decent run up & is now currently looking at breaking out & heading for another rally towards a new high, possibly towards that 1k mark before losing steam Watch for a successful close above the descending resistance for confirmation of successful breakout! I've added 2 major areas of resistance to be aware of to consider profit taking Will update as more data is available *Symbol tags below* Will be checking the crypto pairs for Tesla soon too ( BTC / USD / USDT / DOGE ) for further breakout signs NASDAQ:TSLA CAPITALCOM:TSLA FTX:TSLAUSD BITTREX:TSLAUSD BITTREX:TSLABTC FTX:TSLABTC BITTREX:TSLAUSDT FTX:TSLADOGE COINBASE:BTCUSD BINANCE:BTCUSD INDEX:BTCUSD BINANCE:DOGEUSDT
NASDAQ:TSLALong
by RandomOracle
8