S&P500 INDEX - Daily - Technical analysis published on 02/06/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
44%
28%
28%
My opinion
Bullish above 3,180.85 USD
My targets
3,382.44 USD (+1.43%)
3,427.11 USD (+2.77%)
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 3,180.85 USD. The buyers” bullish objective is set at 3,382.44 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 3,427.11 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
FORCE
0
10
6.6
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The S&P500 INDEX price is 3,334.69 USD. The price has increased by +1.13% since the last closing and was traded between 3,313.75 USD and 3,337.58 USD over the period. The price is currently at +0.63% from its lowest and -0.09% from its highest.3,313.75
3,337.58
3,334.69
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
Opening Gap UP
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
Technical
Technical analysis of this Daily chart of S&P500 INDEX indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : Daily
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
The analysis of the price chart with Central Patterns scanners does not return any result.
The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:
Bullish harami
Type : Bullish
Timeframe : Daily
Downside gap
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 2,930.75 | 3,010.52 | 3,329.62 | 3,334.69 |
| Change (%) | -12.11% | -9.72% | -0.15% | - |
| Change | -403.94 | -324.17 | -5.07 | - |
| Level | Major | Intermediate | Intermediate | - |
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 | 3,200.79 | 3,218.23 | 3,233.57 | 3,251.01 | 3,266.35 | 3,283.79 | 3,299.13 |
| Camarilla | 3,239.91 | 3,242.91 | 3,245.92 | 3,248.92 | 3,251.93 | 3,254.93 | 3,257.93 |
| Woodie | 3,199.75 | 3,217.71 | 3,232.53 | 3,250.49 | 3,265.31 | 3,283.27 | 3,298.09 |
| Fibonacci | 3,218.23 | 3,230.75 | 3,238.49 | 3,251.01 | 3,263.53 | 3,271.27 | 3,283.79 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,215.84 | 3,248.68 | 3,272.08 | 3,304.92 | 3,328.32 | 3,361.16 | 3,384.56 |
| Camarilla | 3,280.00 | 3,285.16 | 3,290.32 | 3,295.47 | 3,300.63 | 3,305.78 | 3,310.94 |
| Woodie | 3,211.11 | 3,246.32 | 3,267.35 | 3,302.56 | 3,323.59 | 3,358.80 | 3,379.83 |
| Fibonacci | 3,248.68 | 3,270.17 | 3,283.44 | 3,304.92 | 3,326.41 | 3,339.68 | 3,361.16 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,057.72 | 3,136.18 | 3,180.85 | 3,259.31 | 3,303.98 | 3,382.44 | 3,427.11 |
| Camarilla | 3,191.66 | 3,202.95 | 3,214.23 | 3,225.52 | 3,236.81 | 3,248.09 | 3,259.38 |
| Woodie | 3,040.83 | 3,127.73 | 3,163.96 | 3,250.86 | 3,287.09 | 3,373.99 | 3,410.22 |
| Fibonacci | 3,136.18 | 3,183.22 | 3,212.27 | 3,259.31 | 3,306.35 | 3,335.40 | 3,382.44 |
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): | 56.91 | |
| MACD (12,26,9): | 13.7400 | |
| Directional Movement: | 0.94 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 3,293.61 | |
| Parabolic SAR (0,02-0,02-0,2): | 3,309.34 | |
| Elder Ray (13): | 18.89 | |
| Super Trend (3,10): | 3,328.47 | |
| Zig ZAG (10): | 3,297.59 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 34.66 | |
| TEMA (21): | 3,277.34 | |
| Williams %R (14): | -32.64 | |
| Chande Momentum Oscillator (20): | -19.22 | |
| Repulse (5,40,3): | -0.0700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1000 | |
| Courbe Coppock: | 0.52 |
| MA7: | 3,264.14 | |
| MA20: | 3,282.49 | |
| MA50: | 3,217.66 | |
| MA100: | 3,115.71 | |
| MAexp7: | 3,272.59 | |
| MAexp20: | 3,269.61 | |
| MAexp50: | 3,218.73 | |
| MAexp100: | 3,142.20 | |
| Price / MA7: | +2.16% | |
| Price / MA20: | +1.59% | |
| Price / MA50: | +3.64% | |
| Price / MA100: | +7.03% | |
| Price / MAexp7: | +1.90% | |
| Price / MAexp20: | +1.99% | |
| Price / MAexp50: | +3.60% | |
| Price / MAexp100: | +6.13% |
News
The last news published on S&P500 INDEX at the time of the generation of this analysis was as follows:
-
Futures turn to data and earnings for direction, SP500 in focus
-
Futures steady as week draws to a close, SP500 in focus
-
Futures remain bullish, SP500 in focus
-
Futures remain on upside to start week, SP500 in focus
-
Futures positive ahead of jobs data, SP500 in focus
This member declared not having a position on this financial instrument or a related financial instrument.
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