S&P 500 End of Year Charts

• Month Time frame continues to look strong. The long term structure will show weakness only if price falls back into the Range between 1800 - 2134. So weakness can be confirmed only on a Month close below 2134 levels.
• Weekly weakness after the Negative Divergence. More weakness below 2191 levels.
• Daily Time frame shows price below 20 Day SMA. But price continues to stay above 50 and 200 Day SMA.
CRUDE Oil support and resistance levels

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S&P 500 Chart Analysis

• Weekly MACD Looks good for a correction. Some more breakdown needed in daily chart to confirm weakness.
• Bears need price to sustain below 50 day SMA.
• Crucial numbers are 2039 and 2033. Below these levels bears will remain strong.

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S&P 500 Analysis after closing bell

• SPX Daily shows bulls fighting through resistance levels. 
• Weekly chart shown with the long lower tails of weekly candles when price fell below 1900 levels. These long shadows suggest strong support near that levels, But for bears there are no big upper shadows which suggests advantage bulls. Bulls hoping to see one long upper shadow here.
• Daily candle is showing slight negative divergence with Price and MACD. For this one to work price need to stay below the resistance levels discussed above.

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S&P 500 Bearish Upper Shadows

• Chart above is SPX Month Time frame.
• Price is inching closer to the All time high's again. Month chart shows candles giving several upper shadows between 2107 and 2134. Bulls were resisted here. Several attempts to move above this zone failed and a correction towards 1800 levels followed.
• It could turn more bullish if the month candle spends more time in this zone without leaving another upper shadow. Bears hoping for the opposite to happen.

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S&P 500 Analysis after closing bell

• SPX Daily shows price closing the day above 38.2% Fibonacci level. At this rate bulls looks good to cross the 50% fib level and more.
• Short term trend in hourly charts too has turned in favor of bulls. Price has started to trade above 50 Hour moving average and the cloud. So smlla dips from here may get support from the cloud.
• However bulls would be safe above 1168 levels. Breaking below 1168 levels may turn things in favor of bears again.
• SILVER TREND UPDATE
  

S&P 500 Analysis after closing bell

• Price has moved above 200 week moving average as shown in weekly chart. If price closes the week like this it may give some relief for bulls.
• Hourly charts are turning in favor of bulls with price sustaining above 50 Hour moving average. If price manages to close above the cloud in hour time frame this pull back may pick up momentum.
• But looking at the weekly cloud. It looks like it will be hard to take this pull back beyond some support levels which got broken during this fall.
• 1210 - 1220 level will be hard to close above.

S&P 500 Analysis after closing bell

• Weekly candle which broke below 200 week moving average and the cloud has managed to go back above them. This battle will go on till Friday. Closing price will give more clarity.
• Today's daily candle shows Bulls reducing most of yesterday's losses. 
• But the trend has not managed to change completely even in small time frames like 30 Minutes. Price closed below the cloud in this time frame and Price closed at the 50 hour moving average for 30 Minutes time frame. 
• If the trend is going to be reversed price will stay above the cloud in 30 minutes time frame for the coming days.

S&P 500 Analysis after closing bell

• Bears are inflicting as much pain as possible.
• They have violated important weekly levels (200 Week Moving average and Cloud support in weekly chart) as shown in first two charts. Last time these levels were broken back in 2008.
• Next hope for bulls is the 38.2% Fib level were this index may take a pause.
• 30 Minutes chart shows that every small bounce is being sold off.
• ES DESCENDING TRIANGLE UPDATED

S&P 500 Waiting for the DEATH CROSS

• SPX is on the verge of doing a death cross.
• Last death cross did not perform that much for bears. I am not expecting this second one in a row to under perform. If an up move happens it will be an ideal opportunity to go short.
• But before the next big move happens bears need to takeout some serious levels. most important of them is the 200 Week Moving Average.
• Death cross will happen But for it to succeed price need to stay below 200 Week Moving Average.
• NFLX WEEKEND UPDATE
  
• BEARISH ENGULFING OF BIDU
  

S&P 500 Analysis after closing bell

• S&P 500 Week took support at the cloud. And this seems to be working in favor of the bulls. But towards the close it closed flat giving no major gains to bulls and bears.
• Daily chart shows it might reverse the trend. But one need to look at 30 minutes time frames to see if the trend is changing in shorter time frames.
• 50 period moving average and cloud in 30 Minutes is yet to be captured by bulls so these levels will act as resistance on a reversal attempt.
• S&P 500 SUPPORT LEVELS
  

S&P 500 Support levels

• Price is bouncing from the base of the cloud.
• 200 week moving average is around 1156 level.
• It looks like price may not breach 200 Week moving average today. But the technical damage so bad it will be tough for bulls to hold on to these levels during the coming weeks.

S&P 500 Analysis after closing bell

• Weekly chart is yet to show oversold readings.
• Indicators in weekly chart is moving slower and price is moving faster sometimes this shows the strength of the trend.
• Important levels in weekly chart is getting broken easily. Was expecting 1217 to hold for at least one day, It did not. It seems next stop is around 1150 levels.
• Daily chart looks oversold and will it give a bounce? In a normal situation we would have seen a bounce But this one looks like a strong bear rally and most of the rally in such situations takes place by staying oversold. Even if we get a bounce 1217 levels which was broken may act as resistance.
• SILVER CHART ANALYSIS
  

S&P 500 Analysis after closing bell

• Candlestick of the day shows strong buying @ lower levels.
• But for bears this has taken place at their backyard which is below 200 DMA.
• So this bullish reversal candle might have strength only for a retrace towards the Broken 200 DMA.
• Real strength for bulls can be seen only above 200 DMA. So retrace towards 1285 levels is likely to get resisted there.
• Price is still staying below the cloud and 50 period moving average in 30 Minutes time frame. These levels should be taken out first for continuing this bounce.

S&P 500 Analysis after closing bell

• S&P 500 Breaks a major trend line in weekly chart.
• Price also closes well below the 200 dma.
• We shall see how SPX behaves the next support level which is 1230 - 1245 level. Things are likely to be easier for bears.
• ES RANGE BREAKDOWN TRADE
  

S&P 500 Near the Weekly support line

• SPX about to hit the support line of the weekly wedge.
• Price staying below 200 DMA.
• If price gets support at the weekly trend line we will see a good bounce from this level
• Breaking the support line will favor bears.
• ES RANGE BREAKDOWN TRADE
  

S&P 500 Weekend update

• Click the charts to enlarge.
• Conclusion: It will be safe to stay long above 50 Day Moving Average. Shorts are safe below 200 DMA. But shorts should keep in mind the weekly trend line or the support line of the wedge in weekly chart.