S&P500 Index (SPX, .INX) (d-w-m) for Monday (6/12/2017)

This is Bull/Bear, PROs & CONs, homework from my databases, spreadsheets, charts, and notes, etc. , that I did for myself, in regards to my investments, that I haven’t yet published.

In light of today being 3rd Friday of the month of June 2017 scan0001aand Quadruple Witching (QW) stock options, stock futures, Index options, and Index futures expiration … I thought it might be advantageous to have a ‘before and after’ picture of June’s QW week.  The ‘before’ review (before both the FOMC meeting and QW Friday) to include the analysis below from June 9th’s close and perhaps Thursday night’s (after the FOMC meeting, but, before QW Friday) review.  The ‘after’  review to encompass not only the market’s close Friday; but, also the Russell Reconstitution info to be released after the markets close Friday … for Monday’s trading.

This week, market conditions unrelated to the S&P500’s 500 component stocks’ actual performance, such as the June 13th-14th FOMC meeting and June’s third Friday of the month Quadruple Witching (6/16/2017) are two of the many scenario analysis conditions contributing to the Daily, Weekly, and Monthly (d-w-m) chart points projection ranges noted below. Thanks to Quadruple Witching Friday, traders, and investors hedging their positions, are facing expiration of stock options, stock futures, Index options, and Index futures.  The “hedging” game thru Friday’s close will be to push prices down so as many of the options sold as possible will expire worthless. The traders then get to keep their stocks and pocket cash from selling the next batch of options. Expect increased volatility.

See related:  S&P500 Daily Support and Resistance for June 2017

IndexChart 20170609

I. IndexChart #0  intraday performance thru Friday’s (6/9/2017) close:

DJ Indu Avg  21,271.97  +89.44 (+0.42%) (chart: blue)
Nasdaq            6,207.92 -113.85 (-1.80%)  (chart: gold)
S&P 500           2,431.77     -2.02 (-0.08%)  (chart: red )

Review of the S&P500 Index (SPX, .INX) (d-w-m) chart analysis

Currently the Moving Average Convergence Divergence (MACD) for the S&P500 Index (SPX, .INX) is bullish since it is trading above its signal line. The S&P500 Index (SPX, .INX) MACD crossed above its signal line 10 trading days ago. Since the MACD crossed above its moving average, S&P 500 INDEX (.INX)’s points (pts.) have increased 0.69%, and the S&P500 has ranged from a low of 2,403.59 pts. to a high of 2,446.20 pts.  The S&P500 MACD is not in an Overbought/Oversold range. There have been no divergence signals within the last 5 trading periods.
MACD Value: +13.625             Signal Line: +12.234

Friday’s (6/9/2017) Relative Strength Index (RSI) for MU was 63.6361. The RSI calculations are based on the Close over a 14 trading day period.

 

———————–

spx 20170609d

Chart 1: S&P500 Index, Daily, EOD, O-H-L-C w/Resistances (r2, r1), Pivot Point (PP), and Supports (s1, s2).

  • ———————–

(1) Analysis of DAILY chart activity through Friday’s (6/9/2017) close at 2,431.77 pts.
The current S&P500 Index trend is up and all orders on the long side may be considered. The current market points activity is Strongly Bullish and suggests favorable trade opportunities on the long side. If already holding long positions, look to take partial profits on any retracement to 2,403.59 pts. Traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of 2,397.99 pts.  Be prepared for a potential short term points pull back to the 2,415.94 pts. area.

Suggested placement of capital conserving stops:
If Long, exit all contracts at: 2,370.43 pts.
If Short, exit all contracts at: 2,446.20 pts.

 

(1.a) Additional S&P500 DAILY chart info:

  • Overall, the bias in points is: Upwards.
  • Short term: Points are stalling.
  • Intermediate term: Points are ranging.

 

(1.b) DAILY chart points projection ranges (6/12/2017 – 6/16/2017):

  • Note (1.b.1): prices are vulnerable to a correction towards 2,382.07 pts.
  • The upper projected target is:  2,464.65 pts.
  • The lower projected target is:  2,401.72 pts.
  • The projected closing points are:  2,433.18 pts.
  • Note: the above S&P500 DAILY chart points projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  • ———————–

 

spx 20170609sma-d

Chart 2: S&P500, Daily, EOD, Simple Moving Averages: sma3, sma9, sma20, sma50, sma100, sma200, sma400 … looking for moving average trends and crossovers

  • ———————–

(1.c) S&P500 DAILY chart Moving Averages

  • The 3 period Simple Moving Average (sma3) at 2432.90 pts. is in an uptrend.
  • The 9 period Simple Moving Average (sma9) at 2428.66 pts. is in an uptrend.
  • The 20 period Simple Moving Average (sma20) at 2409.20 pts. is in an uptrend.
  • The 50 period Simple Moving Average (sma50) at 2385.77 pts. is in an uptrend.
  • The 100 period Simple Moving Average (sma100) at 2360.65 pts. is in an uptrend.
  • The 200 period Simple Moving Average (sma200) at 2273.84 pts. is in an uptrend.
  • The 400 period Simple Moving Average (sma400) at 2162.51 pts. is in an uptrend.
  • ———————–

spx 20170609w

Chart 3: S&P500, Weekly, EOD, O-H-L-C w/Resistances (r2, r1), Pivot Point (PP), and Supports (s1, s2).

  • ———————–

(2) Analysis of WEEKLY chart activity through Friday’s (6/9/2017) close at 2,431.77 pts.

The current S&P500 Index trend is up and all orders on the long side may be considered. The current market points activity is Strongly Bullish and suggests favorable trade opportunities on the long side. If already holding long positions, look to take partial profits on any retracement to 2,328.95 pts. Traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of 2,322.25 pts.  Be prepared for a potential short term points pull back to the 2,348.03 pts. area.

Suggested placement of capital conserving stops:
If Long, exit all contracts at: 2,322.25 pts.
If Short, exit all contracts at: 2,446.20 pts.

(2.a) Additional WEEKLY chart info:

  • Overall, the bias in points is: Upwards.
  • Short term: Points are moving.
  • Intermediate term: Points are trending.
  • Note (2.a.1) this chart shows extraordinary points action to the upside.

 

(2.b) WEEKLY chart price projection ranges (6/5/2017 – 6/16/2017):

  • The upper projected target is: 2,517.04 pts.
  • The lower projected target is: 2,362.28 pts.
  • The projected closing points are: 2,439.66 pts.
  • Note: the above S&P500 WEEKLY chart points projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  • ———————–

spx 20170609sma-w

Chart 4: S&P500, Weekly, EOD, Simple Moving Averages: sma3, sma9, sma20, sma50, sma100, sma200, sma400 … looking for moving average trends and crossovers

  • ———————–

(2.c) S&P500 WEEKLY chart Moving Averages

  • The 3 period Simple Moving Average (sma3) at 2428.89 pts. is in an uptrend.
  • The 9 period Simple Moving Average (sma9) at 2391.16 pts. is in an uptrend.
  • The 20 period Simple Moving Average (sma20) at 2367.17 pts. is in an uptrend.
  • The 50 period Simple Moving Average (sma50) at 2256.41 pts. is in an uptrend.
  • The 100 period Simple Moving Average (sma100) at 2139.86 pts. is in an uptrend.
  • The 200 period Simple Moving Average (sma200) at 2037.61 pts. is in an uptrend.
  • The 400 period Simple Moving Average (sma400) at 1670.95 pts. is in an uptrend.
  • ———————–

spx 20170609m

Chart 5: S&P500, Monthly, EOD, O-H-L-C w/Resistances (r2, r1), Pivot Point (PP), and Supports (s1, s2).

  • ———————–

(3) Analysis of MONTHLY chart activity through Friday’s (6/2/2017) close at 2,431.77 pts.

The current S&P500 Index trend is up and all orders on the long side may be considered. The current market points activity is Strongly Bullish and suggests favorable trade opportunities on the long side. If already holding long positions, look to take partial profits on any retracement to 2,083.79 pts. Traders with remaining long positions, after profit taking, should consider placing exit stops in the region of 2,074.02 pts.  Be prepared for a potential short term points pull back to the 2,261.78 pts. area.

Suggested placement of capital conserving stops:
If Long, exit all contracts at: 1,991.68 pts.
If Short, exit all contracts at: 2,446.20 pts.

(3.a) Additional MONTHLY chart info:

  • Overall, the bias in points is: Upwards.
  • Short term: Points are moving.
  • Intermediate term: Points are trending.
  • Note (3.a.1) this chart shows extraordinary points action to the upside.

 

(3.b) MONTHLY chart points projection ranges (5/29/2017 – 6/30/2017):

  • Note (3.b.1): S&P500 points are vulnerable to a correction towards 1,993.43.
  • The upper projected target is: 2,615.85.
  • The lower projected target is: 2,281.06.
  • The projected closing points are: 2,448.45.
  • Note (3.b.2): the above MONTHLY chart price projection ranges are for reference only, and can be easily exceeded, up or down, by Mr. & Ms. Fickle Markets.
  • Note (3.b.3): As noted above, Market conditions unrelated to the S&P500’s actual performance, such as the June FOMC meeting and June’s third Friday of the month Quadruple Witching (6/16/2017) are two of the many scenario analysis conditions contributing to the MONTHLY chart points projection ranges.

 

—  Thursday, 6/1/2017   thru    Friday 6/30/2017  ——

 

  Hope the above Standard & Poors 500 Index, (Index S&P500, SPX, .INX)  calculations for Monday, 6/12/2017, day, plus week, and month, help your investing and trading planning today …

,

 

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