S&P 500 Falls Short at the 4810.0 Resistance Zone

Updated:

S&P 500 Price Analysis – January 19

S&P 500 falls short at the 4810.0 resistance zone. Price has been gyrating through an ascending parallel channel. Bulls show their prowess by pushing the market to the upper half of the channel. However, towards the end of November 2021, S&P 500 started showing notable weaknesses as the price keeps falling and rising above the channel’s middle line. In early 2022, the market falls short at 4810.0.


S&P 500 Significant Levels

Resistance Zones: 5000.0, 4810.0
Support Zones: 4581.0, 4467.0

S&P 500 Falls Short at the 4810.0 Resistance ZoneS&P 500 Long Term Trend: Bullish

The market’s uptrend movement has been a long-term trend for the S&P 500. This shows the stronghold of the bulls on the market. However, there are points of weakness here and there as the price pushes upwards. Very notable is the market dip that occurred in September 2021, which led to a drop to the lower half of the channel on the 4305.0 support line. Nevertheless, the bulls recovered in time to regain control and price with consecutive bullish candles to the upper half.

Another market weakness has invaded the market from the end of December 2021 to the beginning of the year 2022. Therefore, the price falls to the channel’s middle line, which confluences with 4581.0. There was a brief drop below this level before the market recovered. There was a similar incident shortly after that. In the new year, the price has dropped back to the 4305.0 level, which is now close to the channel’s lower border. Bulls, on the other hand, are expected to recover from this level in due course.

S&P 500 Falls Short at the 4810.0 Resistance ZoneS&P 500 Short Term Trend: Bullish

On the 4-hour chart, the price has begun a reversal from the lower border of the parallel channel. The RSI (Relative Strength Index) indicator has its signal line driving upwards from an oversold status. The same can be said of the Stochastic Oscillator, which has also crossed upward from the oversold region. The market is expected to rise again to break through 4810.0.

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Annual Forecast for S&P 500 (2022)

Updated:

S&P 500 Annual Forecast – Price Maintains Bullish Fervor

S&P 500 maintains its bullish fervor even as it enters the year 2022. The market has been ascending via a parallel channel from as far back as 2018. Nevertheless, though still climbing upwards, S&P 500 was subdued below the middle line of the parallel channel. By the beginning of the year 2021, the price increased its fervor and rose to the midline. A pullback helped it eventually rise above the middle line of the parallel channel. This continued into 2022.


S&P 500 Significant Levels

Resistance Levels: 4810.0, 2947.0
Support Levels: 2144.0, 2507.0

Annual Forecast for S&P 500 (2022)S&P 500 Long Term Plan: Bullish

The market started showing bullish fervor after it broke past the 2144.0 price line in July 2016. S&P maintained a steady climb until it met opposition at a strong 2947.0 level. The price was suppressed below this level, breaking below the channel but using 2507.0 as support. This continued until the first quarter of 2020 when the price revived and broke through the barriers to reach 3671.0 on consecutive bullish candles.

Price is seen using the retrace and pump pattern to break through several other barriers from below the 3671.0 level until it reaches its current price level of 4810.0. As a result, the S&P 500 nearly doubled in price in a shorter period from 2020 to 2022. The Parabolic SAR (Stop and Reverse) still indicates bullishness with its dots below the monthly candlesticks, but the market is, however, facing a much sterner test at 4810.0. The Elders Force Index, while still at a positive value, has been undulating sideways and currently has its tip drooping.

Annual Forecast for S&P 500 (2022)S&P 500 Medium Term Plan: Bullish

On the weekly chart, the price is confronting the 4810.0 resistance as well as trying to break out upwards of the parallel channel. This accounts for the reduced momentum in the price. On the weekly chart, the power line of the EFI can be seen alternating between a positive and negative value. As a result, it is expected that the price will continue to oscillate between the 4810.0 resistance level and the channel’s middle line until it breaks through the resistance level and resumes its upward movement.

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S&P 500 Is Stalling Below $4,810 as It Aims for Higher Price Levels

Updated:

S&P 500 Price Analysis – January 5

S&P 500 is stalling below the $4,810 significant level as it aims to break more ground. Though the market bears have been subdued for a while, they are found to rear their heads at intervals, such that they impede the price upward movement. Such an instance is what the S&P 500 just recovered from. On November 30th of last year, the bears stepped in to impede the market and left it stalling below $4,720 till the next month.

 

S&P 500 Significant Levels

Resistance Levels: $5,000, $4,810, $4,720

Support Levels: $4,050, $4,270, $4,500

S&P 500 Is Stalling Below $4,810 as It Aims for Higher Price Levels

S&P 500 Long Term Trend: Ranging

Earlier in 2021, the market was also stalling below the $4,500 significant level. S&P 500 kept ranging between $4,500 and $4,270. The situation even threatened to derail the market off its uptrend course, but the bulls recovered excellently to break past the $4,500 resistance and maintain an increased liquidity value. This then lifted the price to $4,720, where another consolidation occurred.

 

Having broken out of the ranging phase below the $4,720 significant level, quite prematurely, the price has been caught again below the $4,810 price level. This is just a 1.88% price increase from the last level where the price was arrested. This could signal increasing bearish strength. The Stochastic Oscillator already signals an overbought situation, and we can expect to see a retracement sooner rather than later. If the bulls don’t step up their game, the bears could capitalize.

S&P 500 Is Stalling Below $4,810 as It Aims for Higher Price Levels

S&P 500 Short Term Trend: Ranging

The 4-hour chart shows that the price has been knocked back from $4,810 on four occasions, giving bears more clout in the market. The EFI (Elders Force Index) indicator shows its power line to have plunged considerably into a negative value. The Stochastic Oscillator lines are also falling as a result of the overbought condition. The price is likely to keep ranging between $4,810 and $4,720 till the market’s forces drive the price higher (or lower).

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S&P 500 Bulls Seek Higher Price Levels After a Record-Breaking Surge

Updated:

S&P 500 Price Analysis – December 29

S&P 500 bulls are aiming for higher levels after driving the market to an all-time high of 4810. The bulls have come out victorious in the latest market tussle that has characterized the past two months. S&P 500 was forced to consolidate, with the 4720 price level acting as resistance and the 4500 price level acting as support. On the 21st of December, a three-white-soldier candlestick formation was employed by the bulls to finally break resistance and reach a previously uncharted market level at 4810.


S&P 500 Important Levels

Resistance Levels: 4810, 4720
Support Levels: 4500, 4270

S&P 500 bullsS&P 500 Long Term Trend: Bullish

The scuffle between bulls and bears that occurred lately isn’t the only one of such that has occurred this year. An initial consolidation along the uptrend line can also be observed between September and October. Bears have been trying to gain a foothold in the market amidst strong bullish activity. Bulls have prevailed each time as they seek to drive up the market to higher heights.

The bearish interruptions in the market each time can be seen to puncture the MA period 50 (Moving Average), but the price can be seen again and again to recover and cooperate with the Moving Average line. The Elders Force Index (EFI) demonstrates each time how bears try to derail the market and the power line plunges into negative values. But then the power line recovers to hover above the zero level. Bullish strength is consistent.

S&P 500 bulls S&P 500 Short Term Trend: Bullish

On the 4-hour chart, it shows that price has broken free from the confines of consolidation and is now trading above the 4720 resistance level. The market is now stalling as it finds another resistance at 4810. S&P 500 continues to seek greater heights, and the EFI indicator indicates that they are still well-positioned. Moreover, the market also has the advantage of having the MA period 50 as a support.

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S&P 500 Continues Sideways Move Amidst False Breakouts

Updated:

Key Levels
Resistance Levels: 4710, 4760, and 4800
Support Levels: 4560,4530 and 4500

S&P 500 Price Long-term Trend: Bullish
S&P 500 has been in an upward move amidst false breakouts. The market reached the high of level 4714.40. The index price is above the moving averages indicating a possible upward movement of prices. Since November 1, the uptrend has been terminated as the index resumed a sideways move. On November 22, S&P 500 fell to the low of level 4492 and resumed upward. Today, the bulls have broken above the resistance level but are facing another rejection at level 4730.

S&P 500 Continues Sideways Move amidst False Breakouts
SPX500USD – Weekly Chart

Weekly Chart Indicators Reading:
S&P 500 is at level 63 of the Relative Strength Index for period 14. It indicates that the index is in the uptrend zone and it is capable of rising. The 21-day line and the 50-day line moving averages are sloping upward indicating the uptrend. The uptrend is ongoing as long as the trend line remains unbroken. The 21-day line moving average is regarded as the support level.

S&P 500 Medium-term Trend: Ranging
On the 4 – hour chart, S&P 500 is in a sideways trend. Buyers have failed to keep the index price above the overhead resistance. Since December 12, the market has encountered three false breakouts. For instance, on December 23, the bulls have broken above the overhead resistance level. The market reached level 4744 and was repelled. This has been the price action since November.

S&P 500 Continues Sideways Move amidst False Breakouts
SPX500USD – 4 – Hour Chart

4 -Hour  Chart Indicators Reading
S&P 500 is above the 80% range of the daily stochastic. It indicates that the market is in the overbought region. Further upward movement of prices is unlikely as sellers emerge in the overbought region. S&P 500 may decline below the overhead resistance. The 21-day and the 50-day lines moving average are sloping horizontally indicating a sideways trend.

General Outlook for S&P 500
S&P 500 is in a sideways trend amidst false breakouts. Buyers have failed to sustain the bullish momentum above the overhead resistance. Consequently, the range-bound move will continue for a few days.


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S&P 500 Is Unable To Sustain Above 4720, Makes a Downward Correction

Updated:

Key Levels
Resistance Levels: 4710, 4760, and 4800
Support Levels: 4560,4530 and 4500

S&P 500 Price Long-term Trend: Bullish
S&P 500 has been in an upward move up till November 8 but makes a downward correction. Buyers pushed the index to the high of 4714.40 but could not sustain the bullish momentum. The index was repelled after three weeks of a sideways move below the overhead resistance. The currency index fell to the low of level 4492.20. S&P 500 fell above the support of the bullish trend line and above the 21-day line moving average. This propels it to rise on the upside. In December, S&P 500 rose and retested the overhead resistance at level 4713.70. Today, the index is retracing to the downside. S&P 500 will have an accelerated downward move if price breaks below the moving averages.

S&P 500 Index Is Unable To Sustain Above 4720, Makes a Downward Correction
S&P 500 – Weekly Chart

Weekly Chart Indicators Reading:
On the weekly chart, a bullish trend line is drawn showing the support levels of prices. The uptrend is ongoing if prices test and remain above the bullish trend line. However, if price breaks and closes below the trend line, it is assumed the uptrend is terminated. The price bars are above the moving averages indicating that the uptrend is ongoing.

S&P 500 Medium-term Trend: Ranging
On the Daily chart, S&P 500 is in a sideways trend. On November 8, the uptrend was interrupted as the index was compelled to a sideways move. On November 26, S&P 500 faced strong rejection as prices fell and broke below the moving averages. The bulls promptly recovered from the downtrend. The recovery was short-lived as it faced rejection on December 16. The index has fallen but it is trading between the moving averages.

S&P 500 Index Is Unable To Sustain Above 4720, Makes a Downward Correction
S&P 500 – Daily Chart

Daily Chart Indicators Reading
It is below the 80% range of the daily stochastic. The market is in a bearish momentum. The index price is below the 21-day line moving average but above the 50-day line moving average indicating a sideways trend.

General Outlook for S&P 500
S&P 500 is in a sideways trend but makes a downward correction. The uptrend will commence if buyers breach the overhead resistance at level 4720. Presently, it is in downward correction. Buyers will have to push the index to the bullish trend zone.


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S&P 500 Gains for the 3rd Day in a Row As Threat of Omicron Fades

Updated:

S&P 500 Price Analysis – December  8

On Wednesday, the S&P 500 gained for the 3rd day in a row, as investors appeared to have gotten past their fears about the Omicron variant. The index continues to stay above 4600 levels as upside traction stays unrelenting implying that a greater surge is yet imminent.

Key Levels
Resistance Levels: 4800, 4744, 4720
Support Levels: 4631, 4600, 4551
S&P 500 Long term Trend: Bullish
While trading past the 4600 levels earlier in the day, the index has added to yesterday’s rebound from the 4600 horizontal resistance turned support. While the market is trading above the support level at 4600, the uptrend is projected to continue, with resistance level 4744 being reached next.

On the other hand, a downtrend might begin as soon as the market falls below support level 4600, with a move down to support level at 4500 and rising trendline support at recent lows of 4492 as of December 3.
S&P 500 Short term Trend: Bullish
During the early Wednesday trading session, the S&P 500 surged to 4713 gaining about 0.07 percent. At the 4700 levels, the index is trading above the moving average of 5 in an upside channel pattern. The index is expected to rise during the next trading session, according to technical indicators. The 4744 levels could be a potential goal for bulls.

The horizontal resistance at 4720, on the other hand, could act as resistance for the currency index in this session and the next. If the S&P 500 falls, it will be supported on dips by the 4 hours moving average of 13 near the 4670 levels, where buyers may re-emerge.

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S&P 500 Continues To Make a Corrective Pullback Towards the 4550 Level

Updated:

S&P 500 Price Analysis – December 1

The S&P 500 index has dropped below 4,600 one more time from an intraday high of 4,653 reached in the day. On the first trading day of the month, the index fell 0.32 percent, putting the S&P 500 on track for a corrective pullback under the 4,550 level. It should be highlighted, however, that dealers remain wary despite mixed concerns about the COVID-19 South African strain, called Omicron.

Key Levels
Resistance Levels: 4,800, 4,720, 4,650
Support Levels: 4,500, 4,400, 4,300
S&P 500 Long term Trend: Ranging
While looking for support, the S&P 500 extended its losses from the previous session below the 4,600 levels. The bears will have to deal with the major support level of 4551 on the downside. Before the collapse extends to 4,272 levels in October lows, an intermediate corrective bounce from the 4,550 levels cannot be ruled out.

A breach above the 4,650 levels might start and speed up the recovery. If flipped, the 4,720 level will be good resistance-turned support that can limit the downside. In the long to medium term, a subsequent break below the 4,550 levels will trigger a much deeper collapse below 4,400 and even 4,300 levels.
S&P 500 Short term Trend: Ranging
In a shorter time frame, the index remains under pressure from the 4 hours moving average of 5, with the 4,500 levels in mind. Traders that are positive on the S&P 500 should buy any technical pullbacks towards the 4,500 level.

The commencement of a new bearish short-term trend will be confirmed if multiple prices close below the technically significant 4,551 levels. The 4,650 and 4,720 levels are considered near-term resistance. To re-establish a positive tone, the price must rise over 4,650, with resistance around 4,720.

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S&P 500 Falls Beneath 4,700 Following Rising US Treasury Yields

Updated:

S&P 500 Price Analysis – November 24

The S&P 500 maintains its negative correction from just shy of the 4750 mark reached on Monday. The index will likely close on the next level of downside contention near 4,650, implying a negative close ahead of the long weekend. Higher US Treasury yields have a negative influence on heavy-tech earnings, causing a sell-off in tech equities.

Key Levels
Resistance Levels: 4,800, 4744, 4720
Support Levels: 4650, 4600, 4551
S&P 500 Long term Trend: Ranging
The S&P 500 is battling to sustain its stride above the 4650 support zone as sellers finally look to take advantage of the medium-term drop. Meanwhile, as the market trades above the 4650 support region, negative pressure is projected to decrease and remain around the 4700 levels, consolidating further into the following session.

The RSI is currently below its oversold points, and the price has swung lower following a retracement from the 4,744 weekly high level in the previous sessions, confirming the range view. In the medium run, the moving average of 13 will remain in place and will migrate horizontally to operate as a price recovery obstacle.
S&P 500 Short term Trend: Ranging
Since breaking through the consolidation region around 4720 levels earlier this week, the S&P 500 index has been on the fall in the short term. Because the price has fallen below the 4 hour MA 5 and 13, a break of the nearest support at 4650 levels is likely before the price retreats further.

The S&P 500 support zone at 4650 must hold to keep the immediate danger low for a return to 4600, above which we find resistance at the top of the moving averages at 4720 levels, which should limit the advance on successive rebounds initially.

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S&P 500 upholds the 4,650/4,720, defies declines on strong US data

Updated:

S&P 500 Price Analysis – November 17

The S&P 500 has had a turbulent start to the week, fluctuating within the range of 4,650/4,720 zone amid the market sentiment. The index is now trading flat on the day, about in the midpoint of this range, a little under 4,700. Positive US macroeconomic data fueled a stock market boom, as Retail Sales increased to a seven-month high, more than tripling the September number.

Key Levels
Resistance Levels: 4800, 4750, 4720
Support Levels: 4650, 4600, 4551
S&P 500 Long term Trend: Bullish
On Tuesday, the S&P 500 rose substantially as the market maintained its key price resistance of 4720, as well as its rising moving average of 13, which is currently at 4670. However, as a result of this ferocity, the index fell below 4690 during the present session.

Beyond the recent level, it’s time to call for a cautious action to this high-level consolidation phase, with resistance next indicated at 4800 levels and, more importantly, at the top of the price range at 4720 levels in November, which is expected to remain a big roadblock.
S&P 500 Short term Trend: Ranging
On the 4-hour time frame, the technical analysis context of the S&P 500 index is currently in a very fascinating zone. A break above the 4720 levels would be bullish, but a break below the 4650 levels at the horizontal support line would keep the uptrend unstable.

Examining the signs from the previous session, they showed a bullish push forward. Though dropping, the relative strength is staying past 50. Both 5 and 13 moving averages have turned neutral and may be approaching a crossover under the 4680 levels.

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