S&P 500 Analysis – What’s Next For The S&P 500 | SP500 Technical Analysis

In this S&P 500 technical analysis, we will analyze the S&P 500, review the stock market sentiments and its internals to determine where the sp500 is heading.

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Last week the S&P 500 made another new all-time high but it’s showing a negative Divergence with the ad line and an asset 100 also made a new all-time high and along with a negative Divergent but also showing these candle here it appeared that it is getting weaker and

It is unable to move higher throughout the day instead it’s fading back so we could see a little bit of a pullback next week but in this video we’re going to take a look at the internals you know other Market such as oil and gold and

See what they are telling us are we are going to be looking for a pullback in the next week with the fomc meeting or will we see another all-time high so stay Tuned last week we saw the uh dun Transportation the strongest performer for the week with the russle 2000 in the second place followed by the New York Stock Exchange and the S&P 500 game 1% while the nasda 100 the technology oriented index was the uh weakest performer although they all show a gain

For the week and for the month of January is still positive and also the naset 100 still holding the top spot with 3 and a half% gain while the S&P 500 2 and a half% andal 2000 is the only index that is showing a loss one a month

Today look at the internal we see the vix is still sitting down here near the uh 13 level so under 15 but the uh put call ratio is coming up into this hstone and it is sitting at 78 so it’s got above the 75 I mean on the upd down

Volume we did see a little bit of a positive participation for the S&P 500 in the last couple day of the week and we did see quite a bad Market participation on Thursday but not much on Friday session and look at at the new High new low we are seeing uh 130 more

New 52 we High than 52 we low on Friday and look at the NASDAQ we did see a negative updown volume ratio on Friday and the NASDAQ did uh close with a loss so you can see that it is showing a little bit weakness right now and also

The advanc decline although it did have a little bit of a positive Advan decline with 104 more advancing issue than they then declining issue and look at the new High new low in the NASA Market there were 63 more new 52e high than 52 we low

On Friday so that’s a little bit of a positive for a uh down day on Friday for the naset 100 and you can see that we are still looking at this negative Divergence between the nasat 100 and the advanced decline line now looking at the sector we see the uh technology is still

Showing some our performance over the uh relative to the S&P 500 but the healthcare and the uh discretionary consumer discretionary showing underperformance and also the uh Financial selling a little bit of a outperformance along with communication now the industrial is showing a little bit of underperformed relative to the S&P 500

And here we see the consumer stable is underperform did see the energy start popping up below bit so we might see a little bit of a move up on the energy sector and the uh we state is underperformed and also the uh material underperformed and the utility is underperformed looking at the other

Sectors semiconductor still outperform although it did show a little bit of a weakness at the latter part of the week and then the oil start coming up so we could see that along with the energy start popping up a little bit in the near term so we’ll keep an eye on that

On the energy sector and exploration showing a little bit uptick but it’s still relatively underperformed and the uh retail is underperform so it’s the biotech along with the uh miners the bank and the Regional Bank show a little bit of uh outperformance here and also the uh home builder is underperform and

The long-term bond is underperform look at this yield curve the 10 year versus the two we’re still seeing an inversion although is coming up it’s sitting at -26 in the 10 year versus the 3 Monon is still inverted atus 1.246 and looking at the 10-year yield

Index we see it is still above the 4% level and sitting at 4145 in the dollar Index we saw it come up and try to get up to this 103.8 to so it’s getting close we could see it uh move up if after the FC meeting we might

See this thing move up to this 103 and here’s the future the future is still kind of holding between this uh 103 or 104 area and the 10250 so we’ll see what will this thing push up to this composite Point control and get about this 104 after the FC announcement so C

Oil is still trying to make another attempt to come up to this 75 area here so we’ll see with the energy sector is starting to turn up based on the sector relative performance that we just looked at we could see oil might come up to this 7569 and move Above This composite point

Of control and here in the silver it came down to this uh 2 sem area and got to you know try to hold this level here so we’ll see we it be able to continue to get a bounce back up or look uh to for it to move below this 23 2240 area

And come down and test this uh 2150 area here near this trend line and go is still hovering up at this edge here of this balance area the upper Edge so either it’s going to break about the 2090 or come back down and test this 1944 now let’s take a look at the

Indexes looking at the nasat 100 we see that it is still moving up toward this uh uh this bull flag move uh this major move at 18, 294 295 area so we’ll see what come up and tag this 18,300 area or the pull back and do a

Little bit of a back test on the previous alltime High near 16,74 and a Russ 2000 is still try to get above this 2,000 level and possibly make it another break out of this consolidation of this range here and get above this 2028 but if it unable to get above this

Edge here this upper Edge we could see it pull back and come back and retest this 1925 and the Dow Jong transportation is still making its move uh trying to come back up to the 16,000 730 basically coming up to the 177,000 after it came down and tested the 15,000

Level and got a nice Bounce from the previous week the djong industrial continue to make new all-time high so basically there’s nothing there to see it went above the 39,000 so if we could stay above the 39,000 the next uh magic number or round number that we be

Focusing on is the 40,000 level on any kind of pullback look forward to pull back to this 37,000 area previous alltime high and for the s& P 500 we see the S&P 500 taged the major move on this symmetry move that we uh did a projection on so it actually came up a

Little bit higher than this 49199 so right now we could see a little bit of a pullback and if it does then we’re still looking at this level here somewhere around 4600 now for next week the uh upper range for the um expected move is between 4970 and 49

5660 and the low range is 4825 and 4805 so it is still projecting it to continue to move up toward this uh 5,000 Mark here and that would be the round number to keep an eye on if it pulls back then we basically looking at this possibility of coming back down to this

4,800 area and we still could see a pull back eventually to come back and test this uh pivot High here at 4600 area but for now we’re basically looking to see what it continue to push up to uh toward the 4970 or pull back to the uh 4,800

Area now if you like more of the uh content that I put out go and check out my substack page at SM Trader ca. sub.com I post daily trade plan and also uh additional content like the uh uh talk about some of the crypto Mining

Stock last week and we see a nice uh bump on that for on Friday so thank you for watching and be sure to smash the thumbs up to give it a like and also subscribe to help support this channel