[GVI Forex 2]

US500 (SP500) 4 HOUR: Support holds

Pause above 7375 maintains the current range but to make the bounce anything more than a retracement or consolidation, .7490-7500+ would be needed.

[GVI Forex 2]

US500 (SP500) DAILY: After the whipsaw, still consolidating

Holding off a run at its downside after failing to test 7500 with a pause just above 7374 support (July low).to maintain the current range and not confirm a breakdown in NAS100.

[GVI Forex 2]

US500 (SP500) 4 HOUR: Failure below 7500

Failure to test 7500 following the opening week gap keeps the upside in check and risk on the downside.

Key level that needs to hold is 7395 as it guards the key lows.

[GVI Forex 2]

US500 (SP500) DAILY: Breakdown

Breakdown needs to at least regain 7420 to neutralize a risk to 7300, now blocked by the 7375 low. .

Watch headline, crude oil and 5-day pattern printing 7500.

[GVI Forex 2]

US500 (SP500) 4 HOUR: Just a pause?

Is the high at 7589 considered a failure to reach the record 7624 high or just a pause?

Time will tell but downside contained while above 7500 and high stays at risk while above 7528.

[GVI Forex 2]

Market Update: Rotation: US500 (sp500) and NAS100 (NASDAQ) down, US30 (DJIA) Up

Dow rises more than 200 points to record, Nasdaq falls again as chipmaker

US500 and NAS100 supports holding (see prior post)

US500.                                      NAS100                                                    US30

[GVI Forex 2]

Stocks getting slammed, SP500 and NAS100 now down about 1% but beware of limited follow through. Scanning headlines but no apparent catalyst.

[GVI Forex 2]

SP500 7800?

Source: Try Newsquawk free for 7 days

[GVI Forex 2]

US500 (SP500) 4 HOUR

Momentum turning up but would need to get through 7571 and 7604 to put the record 7624 back on the table.

On the downside, keeps a bid while above 7500, but only back below 7486 would put it back into its old range.

[GVI Forex 2]

US500 (SP500) 4 HOUR

Day after an earthquake.

Rebound off 7350 would need to trade back above 7500 to regain a bid but only above 7571 would fully negate the downside risk.

[GVI Forex 2]

US500 (SP500) 4 HOUR

Now consolidating below the new record high at 7560 (by 3 pips) with a bid as long as 7500 holds on the downside (note double bottom around 7505).

[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.