S&P500 INDEX - Weekly - Technical analysis published on 06/13/2020 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Bullish
De fond:
Strongly bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 2,930.75 USD
My targets
3,225.52 USD (+6.06%)
3,386.15 USD (+11.34%)
My analysis
The basic bullish trend is very strong on S&P500 INDEX but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 2,930.75 USD. Crossing the first resistance at 3,225.52 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 3,386.15 USD as an objective. Caution, a return to below 2,930.75 USD would be a sign of a consolidation phase in the short-term basic trend. 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
6.8
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Additional analysis
Quotes
S&P500 INDEX rating 3,041.31 USD. Over 5 days, this instrument lost -4.78% and was traded between 2,984.47 USD and 3,223.27 USD over the period. The price is currently at +1.90% from its lowest point and -5.65% from its highest point.2,984.47
3,223.27
3,041.31
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
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 (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of S&P500 INDEX in Weekly shows a strongly overall bullish trend. 82.14% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 13 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
Ichimoku - Bullish crossover : Tenkan & Kijun
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 2,351.10 | 2,581.29 | 2,930.75 | 3,041.31 | 3,225.52 | 3,386.15 |
| Change (%) | -22.69% | -15.13% | -3.64% | - | +6.06% | +11.34% |
| Change | -690.21 | -460.02 | -110.56 | - | +184.21 | +344.84 |
| Level | Major | Intermediate | 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 | 3,163.02 | 3,178.07 | 3,192.62 | 3,207.67 | 3,222.22 | 3,237.27 | 3,251.82 |
| Camarilla | 3,199.04 | 3,201.75 | 3,204.47 | 3,207.18 | 3,209.89 | 3,212.61 | 3,215.32 |
| Woodie | 3,162.78 | 3,177.95 | 3,192.38 | 3,207.55 | 3,221.98 | 3,237.15 | 3,251.58 |
| Fibonacci | 3,178.07 | 3,189.37 | 3,196.36 | 3,207.67 | 3,218.97 | 3,225.96 | 3,237.27 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,887.56 | 2,928.66 | 2,986.48 | 3,027.58 | 3,085.40 | 3,126.50 | 3,184.32 |
| Camarilla | 3,017.11 | 3,026.18 | 3,035.24 | 3,044.31 | 3,053.38 | 3,062.45 | 3,071.51 |
| Woodie | 2,895.93 | 2,932.84 | 2,994.85 | 3,031.76 | 3,093.77 | 3,130.68 | 3,192.69 |
| Fibonacci | 2,928.66 | 2,966.44 | 2,989.79 | 3,027.58 | 3,065.36 | 3,088.71 | 3,126.50 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,549.05 | 2,657.84 | 2,851.08 | 2,959.87 | 3,153.11 | 3,261.90 | 3,455.14 |
| Camarilla | 2,961.25 | 2,988.94 | 3,016.62 | 3,044.31 | 3,072.00 | 3,099.68 | 3,127.37 |
| Woodie | 2,591.27 | 2,678.95 | 2,893.30 | 2,980.98 | 3,195.33 | 3,283.01 | 3,497.36 |
| Fibonacci | 2,657.84 | 2,773.22 | 2,844.50 | 2,959.87 | 3,075.25 | 3,146.53 | 3,261.90 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 58.80 | |
| MACD (12,26,9): | -13.2700 | |
| Directional Movement: | -0.46 | |
| AROON (14): | -28.57 | |
| DEMA (21): | 2,918.44 | |
| Parabolic SAR (0,02-0,02-0,2): | 2,314.60 | |
| Elder Ray (13): | 179.21 | |
| Super Trend (3,10): | 2,586.82 | |
| Zig ZAG (10): | 3,193.93 | |
| VORTEX (21): | 0.8800 | |
| Stochastique (14,3,5): | 80.54 | |
| TEMA (21): | 2,912.26 | |
| Williams %R (14): | -1.74 | |
| Chande Momentum Oscillator (20): | 482.91 | |
| Repulse (5,40,3): | 9.0600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.2800 | |
| Courbe Coppock: | 5.44 |
| MA7: | 3,162.81 | |
| MA20: | 3,029.30 | |
| MA50: | 2,883.47 | |
| MA100: | 2,951.06 | |
| MAexp7: | 2,981.87 | |
| MAexp20: | 2,948.56 | |
| MAexp50: | 2,956.87 | |
| MAexp100: | 2,882.96 | |
| Price / MA7: | -3.84% | |
| Price / MA20: | +0.40% | |
| Price / MA50: | +5.47% | |
| Price / MA100: | +3.06% | |
| Price / MAexp7: | +1.99% | |
| Price / MAexp20: | +3.15% | |
| Price / MAexp50: | +2.86% | |
| Price / MAexp100: | +5.49% |
Quotes :
2020-06-12 00:00:00
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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:
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Futures turn to data to kick off new trading week, SP500 in focus
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Futures turn to jobs, manufacturing data for direction, SP500 in focus
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Futures look to data and earnings for direction, SP500 in focus
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Futures turn to weekly jobs data and earnings for direction, SP500 in focus
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US SPX 500; A sustained recovery or just a dead cat bounce?
This member declared not having a position on this financial instrument or a related financial instrument.
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