S&P 500 Index (SPX, .INX) for Monday (8/29/2016)

 

S&P 500 INDEX (SPX, .INX)

  Currently the S&P 500 Index (SPX, .INX) Daily chart Moving Average Convergence Divergence (MACD) is bearish since it is trading below its signal line.  The MACD crossed below its signal line 20 days ago.  Since the MACD crossed its moving average, S&P 500 INDEX (SPX)’s price has decreased -0.21%, and has ranged from a high of 2,193.810 to a low of 2,147.580 points.  The MACD is not in an Overbought/Oversold range.  There have been no divergence signals within the last 5 periods.
MACD Value:    7.032     MACD Signal Line:   10.640
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  See also:   FedSpeak Review 8/26/2016
     and:
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Analysis of S&P 500 Index (SPX, .INX) Daily, Weekly, Monthly, (d-w-m) chart activity through Friday’s (8/26/2016) close at 2,169.04 points    -3.43 points, or  (-0.16%)
The current trend is up and all orders on the long side may be considered.  If already holding long positions, look to take partial profits on any retracement to 2,160.39.   Traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of 2,160.39.   Be prepared for a potential short term price pull back to the 2,168.09 area.
   Suggested placement of capital conserving stops:
If Long, exit all contracts at …  2,160.39
If Short, exit all contracts at …  2,193.81
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spx 20160826d
 Chart #1 (above, Daily, PP-Sup-Res) S&P 500
( 3.d) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
Closed 8/26 down  @   2,169.04   -3.43  (-0.16%)
:: Closed  (below 8/26 PP)  (below 8/29 PP)
  •   :: Pivot point (PP)  2172.46
  •   Support (s1)  2156.97        Support (s2)  2144.91
  •   Resistance (r1)  2184.52     Resistance (r2)  2200.01
  •   Simple Moving Average (Close 50):  2144.37         (uptrend)
  •   Simple Moving Average (Close 200):  2052.46         (uptrend)
  •   52 week performance  +9.06%  YTD performance  +6.12%
Additional S&P 500 INDEX (SPX, .SPX, .INX) DAILY chart info:
  • Overall, the bias in prices is: Upwards.
  • Short term: Prices are stalling.
  • Intermediate term: Prices are ranging.
  • The upper projected target is: 2,221.97.
  • The lower projected target is: 2,119.76.
  • The projected closing price is: 2,170.86.
Note: these price projections are calculated from previous trading activity and therefore for reference only, and can be easily exceeded, up or down,  by Mr. & Ms. Fickle Markets.  Sorry, past performance is no guarantee of future similar results.
  —–
spx 20160826w
 Chart #2 (above, Weekly, PP-Sup-Res) S&P 500
( 3.w) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
Closed 8/26 down  @   2,169.04   -14.83 
:: Closed   (below 8/26 PP)  (below 9/2 PP)
  •   :: Pivot point (PP)  2174.28
  •   Support (s1)  2155.15        Support (s2)  2141.25
  •   Resistance (r1)  2188.18     Resistance (r2)  2207.31
  •   Simple Moving Average (Close sma50):    2046.14         (uptrend)
  •   Simple Moving Average (Close sma200):   1888.00         (uptrend)
Additional S&P 500 INDEX (SPX, .SPX, .INX) Weekly chart info:
  • Overall, the bias in prices is: Upwards.
  • Short term: Prices are moving.
  • Intermediate term: Prices are trending.
  • Note (1): this chart shows extraordinary price action to the upside.
  • Note (2):  prices are vulnerable to a correction towards 2,044.50.
  • The upper projected target is: 2,286.56.
  • The lower projected target is: 2,059.84.
  • The projected closing price is: 2,173.20.
Note: these price projections are calculated from previous trading activity and therefore for reference only, and can be easily exceeded, up or down,  by Mr. & Ms. Fickle Markets.  Sorry, past performance is no guarantee of future similar results.
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  Monday, 8/29/2016   thru    Friday 9/2/2016  ——

Hope the above S&P 500 Index Support and Resistance calculations for Monday, 8/29/2016  help your investing and trading planning today …

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