S&P500 - MINI S&P500 FULL0624 - Daily - Technical analysis published on 11/24/2020 (GMT)
- 114
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
67%
0%
33%
My opinion
Bullish above 3,388.00 USD
My targets
3,659.58 USD (+1.60%)
3,778.17 USD (+4.89%)
My analysis
The bullish trend is currently very strong on S&P500 - MINI S&P500 FULL1220. As long as the price remains above the support at 3,388.00 USD, you could try to benefit from the boom. The first bullish objective is located at 3,659.58 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 3,778.17 USD as an objective. 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, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.2
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Simon1. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The S&P500 - MINI S&P500 FULL1220 price is 3,602.00 USD. The price has increased by +0.73% since the last closing and was traded between 3,575.25 USD and 3,606.00 USD over the period. The price is currently at +0.75% from its lowest and -0.11% from its highest.3,575.25
3,606.00
3,602.00
Here is a more detailed summary of the historical variations registered by S&P500 - MINI S&P500 FULL1220:
Near a new HIGH record (5 years)
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 this Daily chart of S&P500 - MINI S&P500 FULL1220 indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The technical indicators are bullish. There is still some doubt about the price increase.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish engulfing lines
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 3,229.38 | 3,388.00 | 3,579.25 | 3,602.00 |
| Change (%) | -10.34% | -5.94% | -0.63% | - |
| Change | -372.62 | -214.00 | -22.75 | - |
| Level | Major | Major | Major | - |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,509.17 | 3,527.33 | 3,551.67 | 3,569.83 | 3,594.17 | 3,612.33 | 3,636.67 |
| Camarilla | 3,564.31 | 3,568.21 | 3,572.10 | 3,576.00 | 3,579.90 | 3,583.79 | 3,587.69 |
| Woodie | 3,512.25 | 3,528.88 | 3,554.75 | 3,571.38 | 3,597.25 | 3,613.88 | 3,639.75 |
| Fibonacci | 3,527.33 | 3,543.57 | 3,553.60 | 3,569.83 | 3,586.07 | 3,596.10 | 3,612.33 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,423.92 | 3,483.08 | 3,518.67 | 3,577.83 | 3,613.42 | 3,672.58 | 3,708.17 |
| Camarilla | 3,528.19 | 3,536.88 | 3,545.56 | 3,554.25 | 3,562.94 | 3,571.62 | 3,580.31 |
| Woodie | 3,412.13 | 3,477.19 | 3,506.88 | 3,571.94 | 3,601.63 | 3,666.69 | 3,696.38 |
| Fibonacci | 3,483.08 | 3,519.28 | 3,541.64 | 3,577.83 | 3,614.03 | 3,636.39 | 3,672.58 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,830.17 | 3,027.58 | 3,146.17 | 3,343.58 | 3,462.17 | 3,659.58 | 3,778.17 |
| Camarilla | 3,177.85 | 3,206.82 | 3,235.78 | 3,264.75 | 3,293.72 | 3,322.68 | 3,351.65 |
| Woodie | 2,790.75 | 3,007.88 | 3,106.75 | 3,323.88 | 3,422.75 | 3,639.88 | 3,738.75 |
| Fibonacci | 3,027.58 | 3,148.30 | 3,222.87 | 3,343.58 | 3,464.30 | 3,538.87 | 3,659.58 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 61.75 | |
| MACD (12,26,9): | 49.9900 | |
| Directional Movement: | 12.18 | |
| AROON (14): | 21.43 | |
| DEMA (21): | 3,586.50 | |
| Parabolic SAR (0,02-0,02-0,2): | 3,509.47 | |
| Elder Ray (13): | 39.44 | |
| Super Trend (3,10): | 3,409.13 | |
| Zig ZAG (10): | 3,602.50 | |
| VORTEX (21): | 1.1200 | |
| Stochastique (14,3,5): | 71.70 | |
| TEMA (21): | 3,611.52 | |
| Williams %R (14): | -27.22 | |
| Chande Momentum Oscillator (20): | 102.00 | |
| Repulse (5,40,3): | 1.4600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1900 | |
| Courbe Coppock: | 11.62 |
| MA7: | 3,587.00 | |
| MA20: | 3,490.35 | |
| MA50: | 3,428.17 | |
| MA100: | 3,379.68 | |
| MAexp7: | 3,576.69 | |
| MAexp20: | 3,523.94 | |
| MAexp50: | 3,453.66 | |
| MAexp100: | 3,367.71 | |
| Price / MA7: | +0.42% | |
| Price / MA20: | +3.20% | |
| Price / MA50: | +5.07% | |
| Price / MA100: | +6.58% | |
| Price / MAexp7: | +0.71% | |
| Price / MAexp20: | +2.22% | |
| Price / MAexp50: | +4.30% | |
| Price / MAexp100: | +6.96% |
Quotes :
2020-11-24 07:09:52
-
10 min delayed data
-
CME E-mini Futures
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis S&P500 - MINI S&P500 FULL0624 - Daily