{"id":3095,"date":"2023-04-20T13:47:52","date_gmt":"2023-04-20T13:47:52","guid":{"rendered":"http:\/\/ewforex.net\/blog\/?p=3095"},"modified":"2023-04-20T13:51:00","modified_gmt":"2023-04-20T13:51:00","slug":"spx500","status":"publish","type":"post","link":"https:\/\/ewforex.net\/blog\/economia\/spx500\/","title":{"rendered":"SPX500 TECHNICAL UPDATE"},"content":{"rendered":"\n

SPX500 LARG CAP INDEX. Momentum is positive but not strong. CMF has the bulk of volume favoring upside at 0.245. ADX weak upside trend at 18.00. 50 and 200 EMA are both bullish. The technical out is weak upside so far. And with todays pre-morning drop things could change. I would be bullish on this but there is not doubt the US sentiment is at a low. <\/p>\n\n\n\n

Geopolitical relations are also in the pits. Everywhere you look there is a pain. Europe and the US is baring the brunt of the Russian Ukraine war and by their own fault. The fact that the Nord Stream sabotage is still not resolved points the finger at the US and NATO. If it were otherwise, the investigative findings would have been made public. <\/p>\n\n\n\n

Moreover, China is now on Russia side with the BRICS now moving away from the Petro Dollar. And NATO countries are now at odds with the US over this whole war and pipe line sabotage. Things are not well between NATO nations. <\/p>\n\n\n\n

SPX500 LARGE CAP INDEX INDX DAILY BAR<\/a><\/h4>\n\n\n\n
\"\"<\/figure>\n\n\n\n

Daily SPX500 momentum is still favoring the upside. \u00a0 EMA are all lined up bullish and the 100 EMA is about to cross over the 200 EMA which would be very bullish.\u00a0 However, daily SPX500 ADX is ticking at 20.44 which is barely trending.\u00a0 +Di is also not showing a strong trend at 22.71.\u00a0 And, \u2013Di is weak at the 14.17 but has moved up with today\u2019s negative directional drop.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

SPX500 DAILY BAR<\/h4>\n\n\n\n

SPX500 is showing first signs of dropping. However intraday is still ambiguous. <\/p>\n\n\n\n

SPX500 drops below yesterday\u2019s low.\u00a0 However internal so far unclear as to longer term direction as the index tested lower channel support and is now moving back up.\u00a0 See 1-hour bar<\/p>\n\n\n\n

\"SPX500<\/a><\/figure>\n\n\n\n

SPX500 1-HOUR BAR<\/h4>\n\n\n\n

1-hour bar showing both bearish and bullish Elliott Wave Structures.\u00a0 The bearish is a leading diagonal while the bullish is a zigzag correction.\u00a0 A drop below lower channel support of course bearish while a move up will depend on the structure and if it fails somewhere along the mid trend line.\u00a0 I expect this to at least bounce to the mid-trend line.\u00a0 A leading diagonal would need to retrace.\u00a0<\/p>\n\n\n\n

\"SPX500<\/a><\/figure>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

SPX500 LARG CAP INDEX. Momentum is positive but not strong. CMF has the bulk of volume favoring upside at 0.245. ADX weak upside trend at 18.00. 50 and 200 EMA are both bullish. The technical out is weak upside so far. And with todays pre-morning drop things could change. I would be bullish on this […]<\/p>\n","protected":false},"author":1,"featured_media":3096,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economia"],"yoast_head":"\nSPX500 TECHNICAL UPDATE | Casa de cambios | ewforex.net<\/title>\n<meta name=\"description\" content=\"SPX500 Technical forcast. The index is at a crossroad and showing first signs of breaking down. 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