SPDR S&P 500 - 1H - Technical analysis published on 08/11/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Slightly bearish
Technical indicators
72%
6%
22%
My opinion
Bullish above 531.59 USD
My targets
538.41 USD (+1.02%)
550.81 USD (+3.34%)
My analysis
The strong short-term increase in SPDR S&P 500 calls into question the currently slightly bearish basic trend. A trend reversal is likely. As long as the price remains above 531.59 USD, you could consider taking advantage of the short-term movement. The first bullish objective is located at 538.41 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 550.81 USD as an objective. Crossing it would then enable buyers to target 555.00 USD. Caution, a return under 531.59 USD could jeopardize the reversal.
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
2.5
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This analysis was given by aljoeed. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The SPDR S&P 500 price is 532.99 USD. The price registered an increase of +0.44% on the session and was traded between 528.56 USD and 534.51 USD over the period. The price is currently at +0.84% from its lowest and -0.28% from its highest.528.56
534.51
532.99
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of SPDR S&P 500 indicates that the overall trend is slightly bearish. 57.14% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages could quickly lead to a reversal of the trend. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : 1 hour
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 engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 510.27 | 521.49 | 531.59 | 532.99 | 538.41 | 550.81 | 555.00 |
| Change (%) | -4.26% | -2.16% | -0.26% | - | +1.02% | +3.34% | +4.13% |
| Change | -22.72 | -11.50 | -1.40 | - | +5.42 | +17.82 | +22.01 |
| Level | Intermediate | Major | Intermediate | - | Intermediate | Intermediate | Minor |
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 | 523.58 | 526.07 | 529.53 | 532.02 | 535.48 | 537.97 | 541.43 |
| Camarilla | 531.35 | 531.90 | 532.45 | 532.99 | 533.54 | 534.08 | 534.63 |
| Woodie | 524.07 | 526.31 | 530.02 | 532.26 | 535.97 | 538.21 | 541.92 |
| Fibonacci | 526.07 | 528.34 | 529.75 | 532.02 | 534.29 | 535.70 | 537.97 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 493.10 | 501.68 | 517.34 | 525.92 | 541.58 | 550.16 | 565.82 |
| Camarilla | 526.32 | 528.55 | 530.77 | 532.99 | 535.21 | 537.43 | 539.66 |
| Woodie | 496.63 | 503.45 | 520.87 | 527.69 | 545.11 | 551.93 | 569.35 |
| Fibonacci | 501.68 | 510.94 | 516.66 | 525.92 | 535.18 | 540.90 | 550.16 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 509.41 | 523.43 | 537.12 | 551.14 | 564.83 | 578.85 | 592.54 |
| Camarilla | 543.19 | 545.73 | 548.27 | 550.81 | 553.35 | 555.89 | 558.43 |
| Woodie | 509.25 | 523.35 | 536.96 | 551.06 | 564.67 | 578.77 | 592.38 |
| Fibonacci | 523.43 | 534.02 | 540.56 | 551.14 | 561.73 | 568.27 | 578.85 |
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): | 57.59 | |
| MACD (12,26,9): | 1.1900 | |
| Directional Movement: | 7.78 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 530.40 | |
| Parabolic SAR (0,02-0,02-0,2): | 526.25 | |
| Elder Ray (13): | 2.37 | |
| Super Trend (3,10): | 523.86 | |
| Zig ZAG (10): | 532.83 | |
| VORTEX (21): | 1.0100 | |
| Stochastique (14,3,5): | 87.48 | |
| TEMA (21): | 533.20 | |
| Williams %R (14): | -13.26 | |
| Chande Momentum Oscillator (20): | 4.63 | |
| Repulse (5,40,3): | 0.2600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 2.82 |
| MA7: | 528.25 | |
| MA20: | 542.64 | |
| MA50: | 542.71 | |
| MA100: | 528.71 | |
| MAexp7: | 531.56 | |
| MAexp20: | 529.43 | |
| MAexp50: | 531.14 | |
| MAexp100: | 536.31 | |
| Price / MA7: | +0.90% | |
| Price / MA20: | -1.78% | |
| Price / MA50: | -1.79% | |
| Price / MA100: | +0.81% | |
| Price / MAexp7: | +0.24% | |
| Price / MAexp20: | +0.64% | |
| Price / MAexp50: | +0.32% | |
| Price / MAexp100: | -0.65% |
Quotes :
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15 min delayed data
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NYSE MKT Stocks
This member declared not having a position on this financial instrument or a related financial instrument.
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