S&P 500
  • SPX

  • $5,831

  • +0.30%
  • $5,844

  • $5,850

  • $5,784

Ticker Appearances

Tue, January 14, 2025 | 10:11AM ET

⚡ FlashInsights

Tue, January 14, 2025 | 10:11AM ET
PPI downside surprise along w/ Trump's advisors saying he will "gradually bring Tariffs in" (We'll see if he agrees with this) resulting in mild bounce for US equity futures this morning. While a bounce is certainly near, it still might take 3-5 days before a true low is in and I'm eyeing the Inauguration as having a potential better likelihood than now, as price patterns aren't yet complete from a wave perspective and DeMark counts are also not yet in place. However, for those that missed last nights report (which was sent out early this morning) i do detail 10 reasons why a larger than expected bounce is near. For now, it's important to watch for evidence of this bounce from 5814 in Futures taking a three-wave trajectory, which ultimately might result in yet more selling after CPI (as this doesn't necessarily need to follow PPI's path) The area near 5700 has more importance than 5800. However, breadth and momentum would improve on any further selling pressure and these divergences will also be something to watch over the next couple days. ES 0.29% _F S&P Front month futures shown below - Both ES_F and ^SPX 0.30%  still look possible to not get meaningfully above 5925 before turning back lower, as breadth wasn't as good as expected from yesterday's lows, and structurally the move does not look complete.
Mon, January 13, 2025 | 10:50AM ET

⚡ FlashInsights

Mon, January 13, 2025 | 10:50AM ET
^SPX 0.30%  is growing closer to downside targets, and i anticipate a possible bottoming initially late Tomorrow/early Wed into CPI. Price has undercut 5800 and is now within 100 points of last November's lows. I'll detail all the reasons for this bottoming in tonight's Technical report but has largely to do with a combination of Oversold market breadth, prices hitting intermediate-term support, Elliott-wave analysis, DeMark exhaustion, and my short-term cycles in both Treasuries and Equities both start to turn higher. Note, the selloff this month has proven far more orderly than back in December, so i'm not certain we'll get evidence of Capitulation in this selling before the selling merely dries up and prices start to bounce. At present, prices are close to support, but not quite there, and i expect that into late today into tomorrow, this selloff will continue a bit more. Bottom line, the risk/reward is growing more favorable towards buying dips, and i expect a bottom to this decline this week
Wed, January 8, 2025 | 11:59AM ET

⚡ FlashInsights

Wed, January 8, 2025 | 11:59AM ET
S&P Futures have started to stabilize ahead of today's FOMC minutes, but we see that S&P has carved out 5 waves lower from yesterday's intra-day highs. Thus, while a bounce is likely in short-term, (meaning 1 day) this doesn't make a convincing case of a bottom and points to the possibility of SPX testing and breaking 5829 into next week(^SPX 0.30%  ES 0.29% _F ) While both AAPL and NVDA should find firm footing at support on a bit further weakness into Friday/Monday, today's deterioration has likely given some good indication that S&P could actually temporarily break 5829 to the downside temporarily before rebounding into late Jan- I suspect a temporary bounce attempt to 5979-85 for ES 0.29% _F & this translates to 5940-50 for ^SPX 0.30%  cash. I am skeptical that 6021 is exceeded post FOMC minutes, this would be a positive "game-changer" but appears quite early to me
Mon, January 6, 2025 | 11:24AM ET

⚡ FlashInsights

Mon, January 6, 2025 | 11:24AM ET
An encouraging 2nd day of gains which have carried ^SPX 0.30%  up to near important "make-or-break" resistance. The breadth is about 3/2 positive with Utilities, and REITS lower but very good start to 2025 out of Technology and Energy. Given the negative MACD on SPX on daily and weekly basis and lack of recovery out of Equal-weighted S&P 500, more will need to happen before being able to immediately call for a move back to new highs. I suspect that 6020-6050 area could likely hold into tomorrow as this adjoins the highs of the ongoing consolidation from early December. I'll be open to embracing a broad-based move when it occurs, but for now, today's move hasn't provided that "green light" in either breadth, nor structural improvement just yet.
Thu, January 2, 2025 | 11:52AM ET

⚡ FlashInsights

Thu, January 2, 2025 | 11:52AM ET
This daily ^SPX 0.30%  chart helps to put this recent consolidation in US Equities into perspective. While the intermediate-term SPX uptrend intersects near 5700, the short-term trends and momentum are still negative. Key levels for today into tomorrow's close lie at resistance ranges at 5945-68 for SPX on the upside and 5832-5868 on the downside. Any break of this week's lows at 5868.86 should result in mid-December's lows being tested at 5832. If this level breaks (which is a distinct possibility) then it's likely that SPX 12/6-12/20 decline should be approximated in both time and price before bottoming, ultimately forming an ABC-type pattern over the next week. The good news for the "bulls" is that downside likely should not prove too extreme in either price or time before bottoming, and my downside area of stronger support lies at the 5650-5700 area. Overall, patience is required, but this ultimately should bring in buying opportunities sooner than later as fear should most certainly escalate if/when December lows at 5832.30 (SPX) are violated.
Mon, December 30, 2024 | 12:19PM ET

⚡ FlashInsights

Mon, December 30, 2024 | 12:19PM ET
For those who wish to zoom in on short-term price structure( which truly is helpful and the key towards understanding larger trends) one can see a three-wave bounce in ^SPX 0.30%  which was complete as of last Thursday, followed by a three-wave decline into this morning. A bounce has begun, which i feel could fail and turn back lower to test 5832 initially. Getting above 5979 would be the first sign this is wrong, and then surpassing 6050 would help to get the trend back on track. (Also dubious as of now) What's important in this short-term picture is that any turn back lower from here under 5869 would allow for an immediate test of 5832, but then make any bounce one that would be prone to failure in the short run, for a decline down to 5700 area. I'll send out an update later this week with more details, but for now the last 24 hours has weakened the technical picture, and seven sectors out of 11 are down 1% or greater today, with Energy proving to be the standalone sector which is positive

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