A TECHNICAL UPDATE ON S & P-500 –27.1.2025

 

S & P-500

Open—6121.43--High—6128.04—Low—6088.74—Close—6101.24 on 24.1.2025.

Support:6099.97/6090.27/6044.62/6034.89/6017.31/5984.87/5903.26/5876.84/5853.01/5829.53/5804.48/5774.56/5762.41/5696.51/5674.

Resistance:6128.04/6188.48/6224.28/6301.07/6626.48.

It hit a new all-time high of 6128.04 today ,therefore technically it is on a very strong footing and in the new zone, therefore further rise is very much likely in the coming days, but it is critically poised too and the critical points now are 6099.97---6090.27---6044.62---6034.89---6017.31---5903.26---5889.97( some figures may change). Please note that if it sustain above 6099.97 & 6090.27 on the closing basis then it can keep on making new highs in the coming days and the possible upside target could be 6188----6224---6301 , else it may give a slight weak indication. But if it breaks & sustain below the range of 6044.62----6017.31 on the closing basis then it will trigger correction and will start to slide down further and finally if it breaks & sustain below 5903.026 on the closing basis then it will make the chances of a sustained up-move dim in the year 2025 and finally if it breaks & sustain below 5889.97 on the closing basis then it will get into deep correction mode and it may witness an accelerated fall. It is important to mention here that although the chart setup is very good but it had a vertical rise from 5774.56 to 6128.04 in just 8 days and most importantly it is showing negative divergence on the daily & weekly chart and in the overbought zone on the daily, weekly & monthly chart, therefore it seems that it highly vulnerable for a correction at this juncture, and it may correct provided it falls below the range of 6099.97---6017.31 and sustain on the closing basis. The short, medium & long term trend is up as of now.

NOTE: - It is a technical assessment of the indices as of now, the technical interpretation changes with the price movement and time; therefore it needs periodic review, which may please be noted.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Kindly note that make your cost your stop loss in favorable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Note: Price stated here are of spot market.

                          Contact me for strategic guidance to enter and exit trade.

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

S &P—500 INDEX A TECHNICAL VIEW-2-5--2016

S &P—500 INDEX

CLOSED AT 2065.30 ON -29-4-2016.

                                                                           

SUPPORT:-2043.94/2038.20/2033.80/2022.49/2019.39/1993.26/1990/1969.25/1947/1904.78/1891/1871.91/1867.01/1820.66/1812.20/1810.10.

RESISTANCE:-2075.07/ 2099.89/2103.47/2111.05/2116.48/2119.59/2129.87/2132.82/ 2134.82.

(Figures in bold are important)

It is still looking good on the weekly and monthly chart but turned weak on the daily chart.  It had a vertical rise of 11 weeks from 1810.10 to 2111.05 but now it is correcting and showing weakness on the daily chart therefore further down correction from here looks imminent. Moving down, it will find support from its critical points for the year 2016 which are at 2043.94 & 2038.20 and then from its long term moving averages which are in the range of 2029.30---1995 on the daily chart as of now (it changes every day).Therefore as long as it holds 1995 on the closing basis the up move may be in place but one should get alerted below 2029.30. Please note that  sustained close below 1995 will trigger further fall and then it may find the next potential support from its long term moving averages on the weekly chart which are in the range of 1972---1801(it changes every day). So 1801 is a very solid support point and sustained close below it may trigger panic button which can take it to much lower levels.

It is important to mention here that, it made an all time high of 2134.72 on 20-5-2015 and thereafter in last eleven months it made five attempts to cross this high but every time it made a lower top at 2132.82/2129.87/2119.59/2116.48 and the recent top was made at 2111.05 on 20-4-2016 and it slipped from there, this was the fifth failed attempt, so it seems that it may have topped out for now and the on-going correction may be much deeper this time, so be alert and watchful and structure your trade keeping the points and range mentioned in the foregoing paragraph. Please note that to regain up momentum it has go beyond 2134.72 and sustain but even then the up journey may not be smooth because it will encounter huge resistance at 2169/2203 & 2230(it changes every day)points.

   

REMARKS:-The trend is up. But it is in correction mode now therefore long call should be avoided till it gives visible indication of correction completion.

  

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade.

S& P 500-A TECHNICAL UPDATE-18-1-2016

S& P 500-

CLOSED AT 1880.33 ON 15-1-2016.

                                                                           

SUPPORT:-1871.91/1867.01/1857.83/1820.66/1814.36/1767.99/1746.20/1737.92/1646.47.

 RESISTANCE:-1904.78/1950.33/1972.56/1980.90/2038.20/2043.94.

(Figures in bold are important)

It fell down by more than 200 points in last thirteen trading session and in the process it has broken all its short and long term moving averages decisively which speaks of gross weakness in it. Please note that it’s most important benchmark points for the entire year of 2016 are 2043.94 & 1867.01 and now it is way below the first point and very near to the second one. But looking at the overall technical setup it seems that it is a matter of time only but the level of 1867.01 will be taken out for sure and sustained break below this mark may accelerate the fall, going down it will find good support in the range of 1833—1755 whether this range is taken out or not has to seen but looking at present technical setup it is likely to break this range in coming months. However in between relief rallies cannot be ruled out. It will show some strength if it moves and sustain above 2043.94 levels which may please be noted, chances of which looks slim as of now. It is in down trend now for sure, therefore it is very important to mention here that the threshold level for it entering the bear market is at 1707 and sustained break below this mark may trigger bigger fall this may be kept in mind. Technically it is on a very weak footing therefore it is suggested to avoid long call till it shows some visible strength.   

REMARKS: - The trend is down and in view of the above observation it seems that further fall is ahead therefore long call should be avoided but if initiated should be handled with extreme caution.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade.