S&P500 INDEX - Daily - Technical analysis published on 05/17/2024 (GMT)
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- Timeframe : Daily
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- Status : IN PROGRESS...
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above
My targets
()
()
My analysis
S&P500 INDEX is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above . The next resistance located at is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at . With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
8.2
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This analysis was given by ybsony. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The S&P500 INDEX price is 5,297.10 USD. The price registered a decrease of -0.21% on the session and was between 5,296.19 USD and 5,325.49 USD. This implies that the price is at +0.02% from its lowest and at -0.53% from its highest.5,296.19
5,325.49
5,297.10
A study of price movements over other periods shows the following variations:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this S&P500 INDEX chart shows a strongly bullish trend. 89.29% 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 does not detect any result on moving averages that would impact this trend.
In fact, 15 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
CCI indicator: bearish divergence
Type : Bearish
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 4,796.56 | 5,020.35 | 5,254.35 | 5,297.10 |
| Change (%) | -9.45% | -5.22% | -0.81% | - |
| Change | -500.54 | -276.75 | -42.75 | - |
| 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 | 5,257.73 | 5,276.96 | 5,287.03 | 5,306.26 | 5,316.33 | 5,335.56 | 5,345.63 |
| Camarilla | 5,289.04 | 5,291.73 | 5,294.41 | 5,297.10 | 5,299.79 | 5,302.47 | 5,305.16 |
| Woodie | 5,253.15 | 5,274.67 | 5,282.45 | 5,303.97 | 5,311.75 | 5,333.27 | 5,341.05 |
| Fibonacci | 5,276.96 | 5,288.15 | 5,295.07 | 5,306.26 | 5,317.45 | 5,324.37 | 5,335.56 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5,066.27 | 5,104.35 | 5,163.51 | 5,201.59 | 5,260.75 | 5,298.83 | 5,357.99 |
| Camarilla | 5,195.94 | 5,204.85 | 5,213.77 | 5,222.68 | 5,231.59 | 5,240.51 | 5,249.42 |
| Woodie | 5,076.82 | 5,109.62 | 5,174.06 | 5,206.86 | 5,271.30 | 5,304.10 | 5,368.54 |
| Fibonacci | 5,104.35 | 5,141.49 | 5,164.44 | 5,201.59 | 5,238.73 | 5,261.68 | 5,298.83 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4,594.46 | 4,774.01 | 4,904.85 | 5,084.40 | 5,215.24 | 5,394.79 | 5,525.63 |
| Camarilla | 4,950.33 | 4,978.79 | 5,007.24 | 5,035.69 | 5,064.14 | 5,092.60 | 5,121.05 |
| Woodie | 4,570.11 | 4,761.83 | 4,880.50 | 5,072.22 | 5,190.89 | 5,382.61 | 5,501.28 |
| Fibonacci | 4,774.01 | 4,892.58 | 4,965.83 | 5,084.40 | 5,202.97 | 5,276.22 | 5,394.79 |
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): | 67.45 | |
| MACD (12,26,9): | 43.8900 | |
| Directional Movement: | 18.24 | |
| AROON (14): | 71.43 | |
| DEMA (21): | 5,223.39 | |
| Parabolic SAR (0,02-0,02-0,2): | 5,185.26 | |
| Elder Ray (13): | 107.16 | |
| Super Trend (3,10): | 5,168.92 | |
| Zig ZAG (10): | 5,297.10 | |
| VORTEX (21): | 1.1400 | |
| Stochastique (14,3,5): | 96.12 | |
| TEMA (21): | 5,260.02 | |
| Williams %R (14): | -9.03 | |
| Chande Momentum Oscillator (20): | 261.41 | |
| Repulse (5,40,3): | 0.5900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0500 | |
| Courbe Coppock: | 7.65 |
| MA7: | 5,242.54 | |
| MA20: | 5,134.84 | |
| MA50: | 5,154.23 | |
| MA100: | 5,031.61 | |
| MAexp7: | 5,245.16 | |
| MAexp20: | 5,177.94 | |
| MAexp50: | 5,123.95 | |
| MAexp100: | 5,011.37 | |
| Price / MA7: | +1.04% | |
| Price / MA20: | +3.16% | |
| Price / MA50: | +2.77% | |
| Price / MA100: | +5.28% | |
| Price / MAexp7: | +0.99% | |
| Price / MAexp20: | +2.30% | |
| Price / MAexp50: | +3.38% | |
| Price / MAexp100: | +5.70% |
Quotes :
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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:
-
S&P 500 Forecast and Technical Analysis for May 16, 2024, by Chris Lewis #fxempire #trading #sp500
-
Midweek Technical Look: 16/04/2024 - USDJPY, Gold, US 500
-
Midweek Technical Look: 09/04/2024 - EURUSD, Gold, US 500
-
S&P 500 Forecast and Technical Analysis, May 6, 2024, by Chris Lewis #fxempire #trading #sp500
-
S&P 500 Forecast and Technical Analysis, May 2, 2024, by Chris Lewis #fxempire #trading #sp500
This member declared not having a position on this financial instrument or a related financial instrument.
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