S&P 500 October-December 2016 Forecast: bullish ranging within s/r channel
W1 price is on bullish ranging condition located above Ichimoku cloud for the ranging within 2191.25 resistance level for the bullish trend to be resumed and 2106.75 support level for the correction to be started. Bearish reversal level for this timeframe is 1951.31 support level, and if the price breaks this level to below so the long-term bearish reversal will be started.Chinkou Span line
is located above the price indicating the ranging bullish condition, Absolute Strength indicator is estimating the trend as a ranging in the future, and Tenkan-sen line/Kijun-sen line
combination of Ichimoku indicator is evaluating the future trend as a primary bullish for example.
If we analyse NASDAQ in 'american way' using 100 SMA/200 SMA (Moving Averages) so we can get the following:
Dailty chart (till October this year). The price is located on the primary bullish area for the ranging within 4891.60 resistance level and 4782.10 support.
I think, the most likely scenario for the price movement till October this year is the following: bullish ranging within 4891/4648 levels.
Weekly chart (the situation till the end of this year). This is very similar situation with the daily chart, and we are having almost same levels as well:
I think, the most likely scenario for the price movement till the end of this year is the following: bullish ranging within 4891/4648 levels.
So, this is not good, not bad, just same - for short-term situation for the month and for the rest of the year (till the end of 2016 for example).
As we look at the monthly chart (the situation from now till the end of 2017) so the price is on bullish with 4891.60 resistance level to be tested to above for the bullish trend to be continuing or for the long-term ranging to be started.Thus, 4891.60 is the key level (same with 4782.10 and 4648.60 for example).
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Sergey Golubev, 2016.10.01 10:41
Sergey Golubev, 2016.10.10 08:10
S&P 500 Weekly Update: Earnings Season Is Upon Us, A Positive Surprise May Be In The Offing (based on the article)
Daily price is on ranging above 200 SMA and near above 100 SMA for the ranging bullissh market condition waiting for the direction of the bullish trend to be resumed or for the bearish reversal to be started.
If the price breaks 2191 resistaance level to above on daily close bar so the primary bullish trend will be resumed.If the daily price breaks 2106 support level to below on close bar so the bearish reversal will be started.If not so the price will be on bullish ranging within the levels.
Sergey Golubev, 2016.10.24 09:13
Quick Technical Overview - S&P 500: Recovery Has Been The Strongest In History (based on the article)
Daily price is on ranging market condition located near and below Senkou Span line which is the virtual border between the primary bearish and the primary bullish trend on the chart. Symmetric triangle pattern was formed by the price to be crossed for the direction of the trend, and Absolute Strength indicator is estimating the ranging condition to be continuing in the near future.
Analyst Doug Short is comparring the next recovery with the past ones:
Sergey Golubev, 2016.10.27 21:52
S&P 500 Intra-Day Technicals: H1 bearish reversal (adapted from the article)
H1 price broke 100 SMA/200 SMA levels to be reversed to the primary bearish market condition with 2,126 support level to be broken for the bearish trend to be continuing with 2,124/2,123 levels to re-enter.
The most likely scenario for H1 price movement is the following: the price will cross 2,126 level to below with 2,124/2,123 next level to be broken for the bearish trend to be continuing.
Sergey Golubev, 2016.11.03 15:48
Quick Technical Overview - S&P 500: daily bearish reversal with 2,084 support (adapted from the article)
D1 price broke 200-day SMA to be reversed to the primary bearish market condition. The price is testing 2,084 support level to below for the bearish trend to be continuing.
Sergey Golubev, 2016.11.06 08:21
Week Ahead On Wall Street: Markets Brace For Election Results (based on Forbes article)
Monday"British lawmakers will debate the implications of Brexit, after the High Court said that Parliament must give its approval before the country can move forward with its split from the European Union."
Tuesday"It’s election day. Billionaire Elon Musk has begun campaigning for the merger of SolarCity and Tesla and last week promised that the tie-up would yield big financial benefits for Tesla investors."
Wednesday"Goldman Sachs is expected to announce which of its top employees have achieved partner status. It does this every two years and in 2014 named 78 people to the position. The partnership ranks are tough to break into and represent fewer than 2% of the firm’s workers."
Thursday"Starbucks CEO Howard Schultz, activist investor Bill Ackman, Goldman Sachs CEO Llyod Blankfein and others will speak at The New York Times’ Dealbook conference."
Friday"Bond markets are closed for Veteran’s Day. The stock market will keep its normal hours."