S&P 500 - Inter Market Analysis

This is a discussion on S&P 500 - Inter Market Analysis within the Indices forums, part of the Markets category; S&P 500 has held double top resistance thus far at 2404, this resistance is currently across multiple time frames thereby ...

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Old May 16, 2017, 2:17pm   #31
Joined Feb 2017
S&P 500: Trading plan for 16/05/17

InterMarket-Analysis started this thread S&P 500 has held double top resistance thus far at 2404, this resistance is currently across multiple time frames thereby increasing its potency. The current political uncertainty surrounding Trump is expected to weigh on sentiment in the US trading session.

"President Trump revealed highly classified information to the Russian foreign minister and ambassador in a White House meeting last week, according to current and former U.S. officials, who said Trump’s disclosures jeopardized a critical source of intelligence on the Islamic State.

The information the president relayed had been provided by a U.S. partner through an intelligence-sharing arrangement considered so sensitive that details have been withheld from allies and tightly restricted even within the U.S. government, officials said."

Political turmoil will hurt Trumps ability to push through health care and tax reform, which in turn jeapordizes the TRUMP trade. Hence expect weakness in US equities with the unfilled gap below at 2391 being targeted.
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Old May 21, 2017, 7:30pm   #32
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S&P 500: Trading plan for 22/05/17

InterMarket-Analysis started this thread S&P 500 flushed on the weekly chart due to TRUMP/COMEY/FLYNN concerns regarding potential collusion with Russia. The investigation is pending with details still leaking via WAPO, the latest headlines from the Washington Post late friday was;

"amid this week’s revelations that Trump reportedly asked James Comey, when he was director of the Federal Bureau of Investigation, to drop its investigation into fired national security adviser Mike Flynn and his connections to Russia."

Concerns over Trumps being impeached and the potential derailment of tax reform and infrastructure spending hurt sentiment thereby sending the S&P 500 to a pivot low of 2348 gap fill. We have now stabilized and retraced 75% of that gap hitting 2388 thus far. The weekly chart still holds double top at 2404. Daily chart has held Fib 61% retrace thus far with an unfilled gap at 2401.

10 mins chart remains vulnerable given the unfilled gap at 2365 especially given North Korean test firing missiles again over w/e.

60 mins chart has held Fib 75% resistance after further reports from WAPO regarding the Trump investigation late friday.

"Former FBI Director James Comey will testify before the Senate Intelligence Committee in a public hearing sometime after Memorial Day. CNN reported this late Friday citing a Senate statement.

CNN also ran a story over the weekend citing an unidentified source that Comey will indicate Trump tried to influence him. This is making top headlines but please do keep in mind that the validity of these claims is unknown.

The source seemingly tries to provide context to last week’s Comey transcript that some took to suggest Comey didn’t feel influences. It claims Comey had reached “no conclusion about the President's intent before he was fired… But Comey did immediately recognize that the new President was not following normal protocols during their interactions.”

The father of Comey has also weighed in for a CNN interview.

J. Brien Comey believes his son's firing last week "a Trump deal." The 86-year old says: "[Comey] didn't give him 100% loyalty, and he demands that of people who work with him. [Comey] said he would give 100% honesty, but not loyalty.

On Saturday, the NYT reported that the Intelligence Committee is also seeking another testimony. “Michael Caputo, who served as a communications adviser to the Trump campaign, has been asked by the House committee investigating Russian election meddling to submit to a voluntary interview and to provide any documents he may have that are related to the inquiry.”

Concerns over North Korea will also weigh on Monday

"North Korea has fired another ballistic missile, according to various news agencies. South Korea first reported the test and according to BBC, "the White House said the medium-range missile had a shorter range than those used in North Korea's last three tests."

I will be looking to target the gap below at 2365 .
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Old Jun 15, 2017, 11:49am   #33
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S&P 500: Trading plan for 15/06/17

InterMarket-Analysis started this thread S&P 500 is expected to gap lower on the WAPO story breaking overnight regarding Donald Trump being investigated for obstruction of justice.

"Federal investigation into Trump campaign’s ties to Russia has expanded to include whether the president tried to thwart it, the Washington Post reports"

Yellen's hawkish tone is also weighing on US equities as she talked down inflation and raised the prospect of starting tapering immediately. US futures are currently trading at 2420 zone , we have support at 2420 and 2416.
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Old Jun 23, 2017, 2:07am   #34
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InterMarket-Analysis started this thread H&S formation brewing on the 60 mins chart


Daily holding gap fill

Weekly chart looks exhausted
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Old Jun 27, 2017, 3:00pm   #35
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S&P 500 TA update

InterMarket-Analysis started this thread S&P 500 TA update
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Old Jul 3, 2017, 3:39pm   #36
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S&P 500: Trading plan for 03/07/17

InterMarket-Analysis started this thread S&P 500 is expected to gap up to 2435 , +12 handles from fridays close. The move higher in oil and Asia led by stronger Chinese data has helped risk sentiment but concerns over Trumps tweets, Qatar crisis , North Korea and hawkish central banks will weigh.

The daily chart of the S&P 500 has H&S formation pending with *the bearish engulfing candle on the 29th June still dominating.

60 mins chart had resistance at 2430, 2433 2435, 2443.

10 mins chart resistance at 2432-2435.
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Old Jul 26, 2017, 12:20pm   #37
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InterMarket-Analysis started this thread Watch out for the 2 unfilled gaps below given its FOMC day, the perfect catalyst to close the gaps at 2470 and 2460.

Daily chart registers a doji candle indicating exhaustion/potential reversal.

10 mins double top resistance at 2481 is the zone to watch, if we surpass it then the bulls are back in control.
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