The S&P 500 Technical Analysis - A Specialist in Technical Analysis

For Jul, 28 2017

(Individual Chart Analysis)

This is a no-frills analysis.  It is not designed to look good, it is designed to be effective. 


Summary of the Technical Analysis for the S&P 500

(This takes into account the near term, mid term, and longer term charts)

Our combined analysis for Friday tells us to expect the Markets to begin the day flirting with initial support levels and we should treat support in the NDX and SPX particularly as inflection for the overall markets.  Those markets declined abruptly and no immediate support is evident for a while, under initial support that is.  If support in the NDX and SPX breaks our combined analysis tells us to expect the Market to have a high probability of momentum declines.  If support holds, expect a much more subdued market environment.

Initial intraday trading parameters for the S&P 500 exist between2470 - 2484
If 2470 breaks lower expect 2463
If2484breaks higher expect 2512
Otherwise expect2470 - 2484 to hold

If 2470 remains in tact as initial support, expect the market to increase to 2484. This reflects a tight near term down channel. However, and in line with our combined analysis, if 2470 breaks lower instead expect the market to decline to 2463 before it stabilizes again.


NEAR Term Analysis

Our combined near term analysis tells us to expect the Market to begin the day flirting with intra channel resistance, initial resistance as defined in our combined data tables.  If these resistance levels hold we should expect the Markets to fall back to recent lows and threaten breaks below those as well.  If, instead these resistance levels break higher the Markets are likely to increase back to recent highs instead.  Most were breaking higher at the end of the day Thursday.

NEAR Term Support for the S&P 500 exists at 2470

NEAR Term Resistance for the S&P 500 exists at 2484

Sp_5_day


MID Term Analysis

Our combined midterm analysis tells us that the NDX and SPX tested a level of support below which no immediate additional midterm support level exists.  Breaks of recent lows can lead to momentum declines again according to these, and additional declines are suggested from both the RUT and DJIA too, in a different way.  Those markets tested resistance.  Therefore, our combined midterm analysis tells us to expect lower levels with an added chance of momentum selling if NDX/SPX support breaks.

MID Term Support for the S&P 500 exists at 2463

MID Term Resistance for the S&P 500 exists at 2482

Sp_30_day


LONG Term Analysis

Our combined longer-term analysis is not offering bearish signals except for the warning in the dow Jones industrial average.  The other markets have positive candles, and therefore our combined longer-term analysis skews positive.

LONG Term Support for the S&P 500 exists at 2383

LONG Term Resistance for the S&P 500 exists at 2512

Sp_1_year