[GVI Forex 2]

US500 (SP500) 1 HOUR

While not following the NAS to a new record high, US500 held above 7500 to leave it consolidating below its 7557 high set yesterday when cash markets were closed.

So watch7500: Keeps a bid while above it, below  opens the door to a retracement.

[GVI Forex 2]

US500 (SP500) 1 HOUR

Consolidating below the 7557 high set yesterday when cash market was closed.

7500 is pivotal and only firmly below it would signal a pause (low 7511).

[GVI Forex 2]

NAS100 4 HOUR CHART

AI vs bonds

Score one for bonds as NAS100 turns defensive but only a break of 28661 and 28551 would open a void on the downside, which is contained while above it.

Key resistance on is at 28406.US500 (SP500) 4 HOUR

[GVI Forex 2]

US500 (SP500) 1 HOUR

Mission accomplished or more to come?

No reason to guess at a top so all depends on 7500 and whether it becomes support.

If not, the trendline along with 7449-58 need to hold to keep  the focus on 7500

[GVI Forex 2]

US500 (SP500) 4 HOUR

Failed retracement followed by a new record high pattern repeats. For a top to be considered, this pattern would have to change.

For an inviting but potentially tough 7500 to become the target, 7435-50 needs to hold as support.

[GVI Forex 2]

US500 (SP500) 1 HOUR

• Record high tested and holding (high extended  by 1 pip to 7436)
• As noted yesterday, it is either consolidation (within 7345-7435) or retracement unless a new record  high is made.
• On the downside, 7392 needs to hold to prevent momentum building for a run at Tuesday’s 7345 low.(and 7322 below it)
• On the upside, 7428 blocks exposing 7430

 

[GVI Forex 2]

US500 (SP500) 4 HOUR

Will history repeat?

Pattern of brief retracements followed by new highs will be put to the test after the downside paused above a key 7322 support.

So, it is either consolidation (within 7345-7435) or retracement unless a new record  high is made.

[GVI Forex 2]

US500 (SP500) 4 HOUR

Has US500 paused?

Yes, as long as the 7435 (record) high stays untouched but would need a firm break of 7372 to break momentum and  expose 7322 as next chart support.

Otherwise, downside contained if 7372 holds.

 

[GVI Forex 2]

US500 (SP500) 4 HOUR

Is US500 ready for a pause after another record high (7435)?

A pause could only be considered if 7450 proves to be an obstacle followed by a break of 7371

Otherwise, a firm break of 7450 would put 7500 on the radar

[GVI Forex 2]

US500 (SP500) 4 HOUR

Trading just below its 7406 record high.

If a new high is set, 7371 would become key support.

If not, it would take a break of 7322 to break current mopmentum.

[GVI Forex 2]

US500 (SP500) 4 HOUR

Retracement proved brief but test of the record 7390 high only saw a 1 pt extension so essentially a triple top.

Logic says defense rather than offense given the headline risks, especially on a Friday but it would take at least a move through 7327 to suggest momentum shifting the other way.

Otherwise, trend is still your friend.

[GVI Forex 2]

US500 (SP500) 4 HOUR

Is the high in?

Double top at 7390 (record high)  has potential to be a top BUT

… while it is a long way until key support at 7177, any move that pauses above it would be treated as a retracement.

It would take a break of 7177 to say the high is in.

[GVI Forex 2]

US500 (SP500) 4 HOUR

The only question for US500 and all global markets is how much is discounted as the bar for an Iran response seems to be low.

Meanwhile, 16 green (up) candles) in a row shows the strength of trend where the only resistance is today’s newly set record high at 7390.

Use 7390-00 as potential resistance with 7350 pivotal if trade is between 7300-7400.

[GVI Forex 2]

US500 (SP500) 1 HOUR

Why is 7350 important?

1) It was my next target (high 7375)

2) If 7350 becomes support,7500 is targeted.

3) If 7350 fails to hold, then 7733-7306 needs to hold to keep momentum pointed up.

[GVI Forex 2]

US500 (SP500) 15 MINUTE

Consolidating following a new record high at 7344.

To keep its bid, 7306 needs to hold.

If not, risk would shift to 7285.

[GVI Forex 2]

US500 (SP500) 4 HOUR

Following NAS100 lead with a new high (7382), marginally so far.

For momentum to build for a run at 7350, the former high at 7276 needs to become support.

[GVI Forex 2]

US500 (SP500) 4 HOUR:

Regaining a bid while above 7200 and after a brief visit below it yesterday

On the upside,  would need to move above 7256 to negate any lingering downside risk and put the record 7276 high in play again.

[GVI Forex 2]

US500 (SP500) 4 HOUR

While 7200 will dictate the intra-day tone as momentum shifts to the downside. It would take a break of 7105 to indicate it is more than a retracement and the top is in.

[GVI Forex 2]

US500 (SP500) 1 HOUR:

Extending high further into record high territory and testing 7250(+), which is now pivotal in the absence of any meaningful resistance.

Needs 7250+ to put 7350 on the radar.

Otherwise, range is to 7200-20 barring a surprise headline.

[GVI Forex 2]

US500 (SP500) 4 HOUR:

Breakout: New record high

Watch 7200 as the pivotal level that needs to become support (actually 7197) to keep the bid in unchartered territory..

If 7200 becomes support, risk turns to 7250 with potential  for 7450.

Below 7200 cools

[GVI Forex 2]

US500 (SP500) 4 HOUR:

.For the lower high (7186) to turn into more, 7106 would need to be broken.

Otherwise, it is more consolidation while the record 7197 High stays untouched

[GVI Forex 2]

US500 (SP500) 1 HOUR:

Post earnings whipsaw tested both ends of the range (up, then down: 7163 => 7106) before settling around mid-range..

Otherwise, choice is still consolidation or retracement as long as the 7197 record high stays untouched.

[GVI Forex 2]

US500 (SP500) 4 HOUR:

Two choices: Consolidation or retracement as long as the 7197 record high stays untouched.

Support at 7100-20 blocks key supports around 7040-50.

Bulls will likely try to hang in ahead of rhe big 5 earnings reports later today.

[GVI Forex 2]

US500 (SP500) 1 HOUR:

Retracement from a pause below 7200 was followed by a retracement that paused as well above 7106-16

To break down momentum, 7157+ is needed.

Otherwise expect consolidation while within 7100-7200.

[GVI Forex 2]

US500 (SP500) 4 HOUR

Take your pick which stands out more:

1) The pause below 7200

2) NAS100 not confirming the US500 new record high

In any case, choice is consolidation or retracement unless 7200 is taken out.

For consolidation, needs to stay above 7100-06.

[GVI Forex 2]

US500 (SP500) 4 HOUR:

Set a new record high by just 2 pips, indicating it ran into sellers rather than stops.

With 7200 looming above as a target, US500 probably needs NAS100 to extend its record high to make a run at it.

[GVI Forex 2]

US500 (SP500)4 HOUR

It’s hard to ignore the double top at 7152 after the retest of the record high today.

Guess where the retreat paused at?

7050 = a “Power of 50” level.

Stock market bulls will not give up without a fight and for that to happen, 7000 would need to be broken (supports at 7050, 7040 and 7011 ahead of it).

So, expect either consolidation or some book squaring into the weekend given the geopolitical event risk barring a surprise positive headline ahead of it.

[GVI Forex 2]

US500 (SP500)1 HOUR

Trying to build fresh momentum following a “blink and you’ll miss it” spike down to 7076 but restrained as long as it stays below 7142 (lower high) and 7152 (record high).

This leaves it in consolidation while the 7152 high stays untouched.

[GVI Forex 2]

US500 (SP500) DAILY

Lagging the NAS100 and consolidating below its 7152 record high.

Risk stays on the upside and the record high as long as the bottom of 7092-7116 support holds..

[GVI Forex 2]

US500 (SP500) 1 HOUR

Regaining a bid back above 7100 but consolidating while below the record 7152 high.

To keep a bid, 7090-00 needs to hold as support.