S&P500 INDEX - Weekly - Technical analysis published on 04/26/2024 (GMT)
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- 0
- Timeframe : Weekly
- - Analysis generated on
- Status : IN PROGRESS...
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
39%
17%
44%
My opinion
Bullish above
My targets
()
()
My analysis
The bullish trend is currently very strong on S&P500 INDEX. As long as the price remains above the support at , you could try to benefit from the boom. The first bullish objective is located at . The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at as an objective. Crossing it would then enable buyers to target . Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
6.8
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This analysis was given by Muhahaha. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The S&P500 INDEX rating is 5,048.42 USD. The price registered an increase of +1.64% over 5 days and has been traded over the last 5 days between 4,969.40 USD and 5,089.48 USD. This implies that the 5 day price is +1.59% from its lowest point and -0.81% from its highest point.4,969.40
5,089.48
5,048.42
The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of S&P500 INDEX in Weekly shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, only 7 technical indicators out of 18 analysed are currently bullish. The Central Indicators scanner found this result concerning these indicators:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Bullish harami
Type : Bullish
Timeframe : Weekly
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 3,577.03 | 4,302.83 | 4,796.56 | 5,048.42 |
| Change (%) | -29.15% | -14.77% | -4.99% | - |
| Change | -1,471.39 | -745.59 | -251.86 | - |
| Level | Major | Major | Major | - |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4,939.58 | 4,965.08 | 5,006.75 | 5,032.25 | 5,073.92 | 5,099.42 | 5,141.09 |
| Camarilla | 5,029.95 | 5,036.11 | 5,042.26 | 5,048.42 | 5,054.58 | 5,060.74 | 5,066.89 |
| Woodie | 4,947.67 | 4,969.12 | 5,014.84 | 5,036.29 | 5,082.01 | 5,103.46 | 5,149.18 |
| Fibonacci | 4,965.08 | 4,990.74 | 5,006.59 | 5,032.25 | 5,057.91 | 5,073.76 | 5,099.42 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4,676.18 | 4,814.87 | 4,891.05 | 5,029.74 | 5,105.92 | 5,244.61 | 5,320.79 |
| Camarilla | 4,908.14 | 4,927.84 | 4,947.53 | 4,967.23 | 4,986.93 | 5,006.62 | 5,026.32 |
| Woodie | 4,644.93 | 4,799.24 | 4,859.80 | 5,014.11 | 5,074.67 | 5,228.98 | 5,289.54 |
| Fibonacci | 4,814.87 | 4,896.95 | 4,947.66 | 5,029.74 | 5,111.82 | 5,162.53 | 5,244.61 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4,911.13 | 4,983.98 | 5,119.16 | 5,192.01 | 5,327.19 | 5,400.04 | 5,535.22 |
| Camarilla | 5,197.14 | 5,216.21 | 5,235.28 | 5,254.35 | 5,273.42 | 5,292.49 | 5,311.56 |
| Woodie | 4,942.31 | 4,999.56 | 5,150.34 | 5,207.59 | 5,358.37 | 5,415.62 | 5,566.40 |
| Fibonacci | 4,983.98 | 5,063.44 | 5,112.54 | 5,192.01 | 5,271.47 | 5,320.57 | 5,400.04 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 59.13 | |
| MACD (12,26,9): | 155.6100 | |
| Directional Movement: | 5.41 | |
| AROON (14): | 71.43 | |
| DEMA (21): | 5,184.62 | |
| Parabolic SAR (0,02-0,02-0,2): | 5,251.53 | |
| Elder Ray (13): | -17.75 | |
| Super Trend (3,10): | 4,911.00 | |
| Zig ZAG (10): | 5,048.42 | |
| VORTEX (21): | 1.1700 | |
| Stochastique (14,3,5): | 56.47 | |
| TEMA (21): | 5,204.68 | |
| Williams %R (14): | -51.43 | |
| Chande Momentum Oscillator (20): | 89.81 | |
| Repulse (5,40,3): | -2.6000 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.5600 | |
| Courbe Coppock: | 13.49 |
| MA7: | 5,028.82 | |
| MA20: | 5,123.87 | |
| MA50: | 5,122.35 | |
| MA100: | 4,954.69 | |
| MAexp7: | 5,087.84 | |
| MAexp20: | 4,968.31 | |
| MAexp50: | 4,695.60 | |
| MAexp100: | 4,454.24 | |
| Price / MA7: | +0.39% | |
| Price / MA20: | -1.47% | |
| Price / MA50: | -1.44% | |
| Price / MA100: | +1.89% | |
| Price / MAexp7: | -0.77% | |
| Price / MAexp20: | +1.61% | |
| Price / MAexp50: | +7.51% | |
| Price / MAexp100: | +13.34% |
Quotes :
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End-of-day data
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S&P Base Indices
News
The last news published on S&P500 INDEX at the time of the generation of this analysis was as follows:
-
S&P 500 Forecast and Technical Analysis, April 25, 2024, by Chris Lewis #fxempire #trading #sp500
-
S&P 500 Forecast and Technical Analysis, April 18, 2024, by Chris Lewis #fxempire #trading #sp500
-
Midweek Technical Look: 18/04/2024 - EURUSD, US 500, WTI
-
S&P 500 Forecast and Technical Analysis, April 8, 2024, by Chris Lewis #fxempire #trading #sp500
-
S&P 500 Forecast and Technical Analysis, April 3, 2024, by Chris Lewis #fxempire #trading #sp500
This member declared not having a position on this financial instrument or a related financial instrument.
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