Just expressing my view that the road down to 1850 will start in the next week (two weeks max) and will take around 2 months. Expected ETA by end of second week of October.
How did you come up with your orange line (showing $1850 target)? Please elaborate
ProfitHarvest
⋅
It’s already begun B).
Name is spot on haha.
Novolyus
⋅
technical analisys? Could you please elaborate?
Hmongpress
⋅
Market crash again and that is good that is how it suppose to be so people can make money up or down every day.
BardiaB2
⋅
The liquidity that still is being injected into the market by the Fed will probably stop (or at least postpone) it. Remember that with more dollars are (in the world as a whole), asset prices (assuming the same value) will virtually explode. The economy and the stock market are two separate things and act very differently as well.
Finally, tech (which is a huge part of SPX) is going parabolic and it's probably already in a bubble (that the Fed is inflating). This does NOT mean that you should short/sell the bubble. It is like a train that the sellers are standing in front of it hoping to stop it. See what happened to the people who tried "calling the top" for previous bubbles (2000, ...)
Technically (according to the technical levels/lines/indicators), the market is still in an upward direction, at least for now. I suggesr look into smaller time frames (8h for SPX500USD CFd, 1D for SPX/SPY) for a bearish signal.
Thanks for sharing and good luck with your trading.
timl163
⋅
In about a month or two, your view might be right. But for now, it is very unlikely to be down next week July 27. In fact, it is highly probable that July 27th will be a big up day with high volume. The bullish momentum will bring the SPX to the minimum price target of 3480 based on my computation in the end of Aug or early Sept. From there, SPX will probably go down as you illustrated, but we have to see then.
Thanks for sharing. Good luck!
jojofang0901
⋅
Hello, nice trade setup and analysis, I have a similar view as well. Thanks for sharing your idea.