The S&P 500 Index was hammered today on fears of a new Covid variant – a good excuse for the market to “create a market”. The timing of this fall was almost exactly in line with our forecast – it just didn’t quite get up high enough to trigger our short entry. Falls of this magnitude in the SPX 500 almost always result in another low within a week –… Read More »S&P 500 Hammered on Covid fears.
The S&P 500 has bounced pretty much “around” our trend lines but the small breach gives cause for concern. The questions now are will this support hold and can the SPX Index make a rally to a final high for the year? We don’t know the answer to either but today’s low at 4652 is a nice place to put our stop (we’ve gone for 4649) on our long entry… Read More »S&P 500 bounces at levels but will support hold?
The S&P 500 is now at key trend support levels. These levels need to hold and we need to see a bounce on the SPX index for our short entry zone to come into play at the end of the month. If the SPX 500 continues to fall then the possibility of a long entry will come into play before the end of the year. Today is a good lesson… Read More »S&P 500 Falling – Now at key trend support levels
The S&P 500 had a good bounce on our channel trend line which indicates that the corrective move which began on November 5th may be over for the month. As a result we are long on the SPX Index (from 4695) until it gets closer to our short entry zone – or we are stopped out. With the short entry zone starting around 4790 we can place stops at around… Read More »SPX Index – Is the November correction complete?
We have closed our long on the SPX Index at 4686 as there is an increasing possibility that the Index will fall back a little before a final push up for the year. If the S&P 500 falls to around 4650 we would explore the possibility of another long but we feel it is better to lock profits in now. Over the coming days we should also be able to… Read More »S&P 500 Outlook Update November 16 2021
The S&P 500 has hit the long entry zone we mentioned on the 8th November. At this stage it is a “riskier than usual” trade as the SPX index is certainly capable of hitting the bottom of our potential channel at around 4605 tomorrow or 4610 on Friday. A significant breach of 4600 would give us cause for concern on this long entry – although we do ultimately believe there… Read More »S&P 500 Outlook Update November 10 2021
The S&P 500 is getting ever closer to our short entry zone which we believe could be a medium term top for the SPX Index – yes we know everyone is saying that now! We’ve slightly narrowed the date range by pushing the beginning of the zone back to next week. We’ve left the end of the time zone at around the 6th December but depending on movements in the… Read More »S&P 500 Outlook update November 8 2021
The SPX Index has hit the upper edge of our unconfirmed trend line and it now “wedged” between it and our confirmed trend line. Should the S&P 500 fall below the confirmed trend line we believe this is a good opportunity to go long as “long” as the Index remains in the “potential” channel. We are now in a position to modify our short entry zone – levels and timings.… Read More »SPX Index Forecast update October 27 2021
The S&P 500 is back in it’s channel which it began to establish in May 2020. Whilst there is no guarantee it has regained this channel there is certainly a lot of head room for it to make an attempt at our short entry zone which begins less than 100 points away from current levels. Disclaimer The content on this site including products sold in our store and our posts… Read More »SPX Index Forecast Update October 26 2021
There is still no clear direction on the S&P. It is hugging our “confirmed” upwards trend line but the Index could move either way from here. Similar to the FTSE 100 we would like to see this Index move quickly up to our short entry zone (which we have slightly narrowed) otherwise we may get a small retracement before making another high before the end of the year. The situation… Read More »SPX Index Forecast Update October 25 2021