S&P500 INDEX - Daily - Technical analysis published on 08/01/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
61%
6%
33%
My opinion
Bullish above 4,528.98 USD
My targets
4,796.56 USD (+4.52%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on S&P500 INDEX as long as the price remains well above 4,528.98 USD. The buyers' bullish objective is set at 4,796.56 USD. A bullish break in this resistance would boost the bullish momentum. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.9
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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 price is 4,588.96 USD. The price has increased by +0.15% since the last closing and was traded between 4,573.14 USD and 4,594.22 USD over the period. The price is currently at +0.35% from its lowest and -0.11% from its highest.4,573.14
4,594.22
4,588.96
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum 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 (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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of S&P500 INDEX indicates that the overall trend is strongly bullish. 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 scanner does not detect any result on moving averages that would impact this trend.
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
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
Price
S3 | S2 | S1 | Price | R1 | |
---|---|---|---|---|---|
ProTrendLines | 4,305.20 | 4,425.84 | 4,528.98 | 4,588.96 | 4,796.56 |
Change (%) | -6.18% | -3.55% | -1.31% | - | +4.52% |
Change | -283.76 | -163.12 | -59.98 | - | +207.60 |
Level | Major | Minor | Intermediate | - | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 4,555.58 | 4,564.36 | 4,576.66 | 4,585.44 | 4,597.74 | 4,606.52 | 4,618.82 |
Camarilla | 4,583.16 | 4,585.10 | 4,587.03 | 4,588.96 | 4,590.89 | 4,592.83 | 4,594.76 |
Woodie | 4,557.34 | 4,565.24 | 4,578.42 | 4,586.32 | 4,599.50 | 4,607.40 | 4,620.58 |
Fibonacci | 4,564.36 | 4,572.41 | 4,577.39 | 4,585.44 | 4,593.49 | 4,598.47 | 4,606.52 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 4,459.66 | 4,494.11 | 4,538.17 | 4,572.62 | 4,616.68 | 4,651.13 | 4,695.19 |
Camarilla | 4,560.64 | 4,567.84 | 4,575.03 | 4,582.23 | 4,589.43 | 4,596.62 | 4,603.82 |
Woodie | 4,464.47 | 4,496.51 | 4,542.98 | 4,575.02 | 4,621.49 | 4,653.53 | 4,700.00 |
Fibonacci | 4,494.11 | 4,524.10 | 4,542.63 | 4,572.62 | 4,602.61 | 4,621.14 | 4,651.13 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 3,975.01 | 4,073.33 | 4,261.85 | 4,360.17 | 4,548.69 | 4,647.01 | 4,835.53 |
Camarilla | 4,371.50 | 4,397.79 | 4,424.09 | 4,450.38 | 4,476.67 | 4,502.97 | 4,529.26 |
Woodie | 4,020.12 | 4,095.88 | 4,306.96 | 4,382.72 | 4,593.80 | 4,669.56 | 4,880.64 |
Fibonacci | 4,073.33 | 4,182.90 | 4,250.59 | 4,360.17 | 4,469.74 | 4,537.43 | 4,647.01 |
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): | 69.76 | |
MACD (12,26,9): | 57.7900 | |
Directional Movement: | 21.11 | |
AROON (14): | 85.71 | |
DEMA (21): | 4,588.83 | |
Parabolic SAR (0,02-0,02-0,2): | 4,528.56 | |
Elder Ray (13): | 44.36 | |
Super Trend (3,10): | 4,469.60 | |
Zig ZAG (10): | 4,588.96 | |
VORTEX (21): | 1.1300 | |
Stochastique (14,3,5): | 80.94 | |
TEMA (21): | 4,592.11 | |
Williams %R (14): | -12.59 | |
Chande Momentum Oscillator (20): | 78.92 | |
Repulse (5,40,3): | -0.2500 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.1900 | |
Courbe Coppock: | 5.54 |
MA7: | 4,561.97 | |
MA20: | 4,508.08 | |
MA50: | 4,380.00 | |
MA100: | 4,222.03 | |
MAexp7: | 4,562.83 | |
MAexp20: | 4,510.21 | |
MAexp50: | 4,399.50 | |
MAexp100: | 4,279.59 | |
Price / MA7: | +0.59% | |
Price / MA20: | +1.79% | |
Price / MA50: | +4.77% | |
Price / MA100: | +8.69% | |
Price / MAexp7: | +0.57% | |
Price / MAexp20: | +1.75% | |
Price / MAexp50: | +4.31% | |
Price / MAexp100: | +7.23% |
Quotes :
-
End-of-day data
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S&P Base Indices
News
The latest news and videos published on S&P500 INDEX at the time of the analysis were as follows:
- Weekly Technical Analysis: 12/06/2023 - US 500, EURUSD, USDJPY
- XTB Market update on US500 - 21/03/2023
- DXY, SP500 Slide as US Data Comes in Mixed | All Eyes on US Inflation Next Week
- SP 500 and Risk Assets Consolidate as Technicals and Fundamentals Appear at Odds with Each Other
- Inflation Story and Central Bank Repricing See SP500 and Risk Assets Struggle
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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…
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