S&P 500 E-mini Futures 4th September 2020

S&P 500 Emini Futures - Primary & Weekly Cycles

Reached the 2020 highs - Double Top??

it could push up into the August highs at 3420

Any validation of selling will be confirmed with a 5-day low breakout

1st Target  September 50% (Previous Report)

S&P 500 followed the Secondary Cycles into the 3rd Quarter highs at 3542.

The 5-day low validation breakout occurred yesterday @ 3484

There could be a swing upwards from 3429 back towards the 50% level of the 5-day range, but my view is that it's moving down towards the September 50% level and Weekly lows at 3330

A Market Crash will see it back down to 2900 in this same Month, and then the 50% level in the 4th Quarter & Yearly 50% level will define if there's more selling .

However, will there be a TRUMP rally?

The September 50% level supports prices and then the market moves towards the 4th Quarter highs by December 3811+

S&P 500 E-mini Futures 16th August 2020 Report

 

S&P 500 Primary & Weekly Cycles

Reached the 2020 highs - Double Top??

However, it could push up into the August highs at 3420

• Any validation of selling will be confirmed with a 5-day low breakout
• Any further weakness will be a break of the Weekly lows

1st Target August 50% level/ September 50%

#e-mini #S&P500

S&P 500 E-mini Futures 1st August 2020

S&P Primary & Weekly Cycles

S&P 500 looking to continue higher into the 2020 highs (Double Top)  and as high as August 3423

Random resistance around the Weekly highs at 3324

S&P 500 E-mini Futures 29th June 2020 Report

S&P 500 Primary & Weekly Cycles

S&P 500 Supported right on the 2020 50% level at 3007

If looking for a Short, the Weekly 50% level from the 1st of July at 3065 is worth a shot.

If it breaks the July 50% level and Weekly lows, Sellers will HIT the S&P sending it back down into 2637

Bullish pattern would be a move down into the July 50% level, consolidate for 5 days and then break the 5-day highs the following week, as it goes looking for the JULY & 3 Quarter highs

NOTE - there are 3 support zones (Weekly lows, JUNE LOWS, July 50% level)

It's either Robust Support, or a valid break.

What it does, BITCOIN will follow

S&P 500 - Emini Futures 13th June 2020

S&P 500 Primary & Weekly Cycles

Next week's Weekly highs at 3153 will be a massive resistance level to begin with, and if it does go as high as 3153, there will be lot of shorter's trying to push it back down into 3007 and the Yearly 50% level.

It will be the week after next that we decide if S&P 500 is back into a BULL MARKET Trend (above 50% level)  - previous report

We saw a lot of selling this week, but not enough to turn us into Bears, even though the economy is awash with extremely negative news

Unless it's below 3007 the bias is up towards the 2020 highs, which matched the 3 month highs in July.

Do I want to be BUYing the market here?

Not really, because it can turn quickly and be back down to the 2020 lows at 2637 in a blink of an eye.

S&P 500 Emini Futures 30th MAY 2020 Monthly Report

S&P 500 Primary & Weekly Cycles

What could happen is, if price moves down into those weekly lows, but moves back above the MAY 50% level (Yellow), US markets might actually move up towards the 2020 50% level at 3007.

Therefore, There are probably a lot of traders SHORTING US markets now, and as much as I agree with them, they could end up getting squeezed on the upside if that plays out. (previous Report)

Can the S&P 500 actually go as high at the JUNE highs at 3380?

Next week's Weekly highs at 3153 will be a massive resistance level to begin with, and if it does go as high as 3153, there will be lot of shorter's trying to push it back down into 3007 and the Yearly 50% level.

It will be the week after next that we decide if S&P 500 is back into a BULL MARKET Trend (above 50% level)

Or the market begins to position itself coming into the end of the 2nd Quarter and the start of the 3rd Quarter, which is what I always believed was when the next round of selling will occur, but it needs to be below 3007

S&P 500 E-mini futures 2nd MAY 2020

S&P 500 - Emini (Primary & Weekly Cycles)

The Aussie Market looks like it's in a classic bear market set-up for more weakness, US markets not so much.

As much as I'm extremely bearish in the overall trend within the Primary cycles for more weakness into 2021, along with the Fundamentals supporting my view, the 2nd Quarter could actually continue to support the trend and not follow the Break and Extend pattern into the MAY lows but move higher.

US markets are still above the monthly 50% levels and there's a convergence of the Weekly channels, which normally signifies a breakout, therefore it needs to close below the Weekly lows to gather pace @ 2697

What could happen is, if price moves down into those weekly lows, but moves back above the MAY 50% level (Yellow), US markets might actually move up towards the 2020 50% level at 3007.

Therefore, There are probably a lot of traders SHORTING US markets now, and as much as I agree with them, they could end up getting squeezed on the upside if that plays out.

We then look towards the 3rd Quarter onwards, with 3007 being a major resistance zone.