US stock market today forecasts trading signals S&P500 2024

American stock exchange signals

American Stock Exchange today S&P500 Index

US stock market today forecasts technical analysis and stock market operating signals S&P500 Index through WD Gann economic cycles.

S&P500 chart with weekly technical study

US stock market today forecasts
Weekly SP500 Index

US futures today: short-term forecast

Following the triple weekly lows of 14 October 2022, 23 December 2022 and 17 March 2023, the S&P500 market began to self-correlate the positivity of returns with a high Index.

In fact, one can observe the various static resistances that only partly slowed down the bullish acceleration, as in the first upward movement that reached a relative top in the week of 28 July 2023 at 4,607.

Shortly afterwards, during the set-up week of 04-11 August 2023, the US stock started a new corrective phase that pushed the quotations to the ascending 1X8 angular support radiating in blue.

More precisely in the week of 27 October, the US Index reached 4,103.

However, the Minimum Square which expired on 03 November 2023 led to a new propulsive phase which still continues today.

In fact, we have witnessed a very peculiar evolutionary stage of the trend with bullish breakouts that have lasted a good 22 weeks, with only one break in the first week of January 2024.

Following a short-term negative retracement that started in the first week of April, the S&P500 Stock Exchange Index at the expiry of the new Minimum Square on 10 May 2024 once again restarted its upward run.

Prices have now reached corner resistance in the 5,330 point area.

Trading signals expire in the weeks of 07 and 28 June 2028.

In the first case, we witnessed a confirmation of the short-term recovery with the first targets at 5,380 points being reached.

Next resistances in the area of 5,470; 5,640.

Only the return below 5,200 will again present a negative sideways dynamic that will have to be confirmed or not by the signal on 28 June.

S&P500 Index in the medium term

US futures today forecast
sp500 monthly 14.06.24

In the photo just above you can see the 1X2 ascending angular vector in yellow which forms the upper side of the medium-term ascending channel on the S&P500 market.

While in the middle you can clearly see how the US stock market’s momentum has broken upwards sharply from the upper median vector of the bullish channel.

The consistent positive returns generated by the monthly set-up last November, took the quotations to 5,264 points, up to the April 2024 cycle expiry, where we witnessed a partial reversal.

Partial, because last May the driving force of the American Index broke upward again the top of the April Set Up and in the new Minimum Square of June 2024 the positive trend is continuing.

Next resistances in the area of 5,480; 5,750.

The return of quotations below 4,980 will indicate a new negative sideways phase.

Quarterly S&P500 Technical Analysis

US stock market indices in the long term
US stock market indices in the long term

sp500 quarterly 14.06.24The long-term trend of the S&P500 Index is positive and quotations are approaching important corner resistances in the area of 5,500; 5,840.

Only for levels below 4,900 points will the market indicate a halt to the long-term positivity.

The article on the S&P500 Index forecast was described using the WD Gann trading technique and with the help of the Top Trader(c) stock exchange software.

Comments are closed

Check Also

Books on online trading and Forex how to do trading using Gann’s technique

Books on online trading and Forex how to do trading using Gann’s technique Books on online…