S&P 1D and 1M Heikin Ashi is on a TD Sequential green 9 sale.
(On the daily time frame.)
Not to worry friends. Given this green 9 Heikin Ashi sale signal historically the the candlesticks go sideways and slightly down for a week to 2 weeks and then it is onward and upward from there. The traditional candlestick chart pattern shows that the Heikin Ashi green 9 sale occured 8-9 days ago and it blew through that sale signal.
(On the monthly)
There is also a Green 9 sale signal on the monthly Heikin Ashis as well, however, historically going back in the charts to 2007 the candlesticks twice ignored the TD green 9 sale and the patterns continued upward. Two other times the candlesticks fell roughly 150 points and the third time was the 2007 housing market crash and we all know what went down then.
The 50 and 200 SMA and EMA shows the that the trend is moving upward.
The RSI is in the overbought region barely and it indicates a down-ish to more sideways direction.
The MACD shows bullish crosses on the daily, weekly and monthly time frames.
The best and most likely case scenario on all time frames is; S&P shakes the TD sale signal off with some sideways to down-ish movement from profit taking and and the economy keeps rolling on.
Worse Case scenario on all time frames. On the daily the candlesticks fall to the 2868.7 support level I have plotted above. On the monthly the price could fall to 2608.8 and held up by the 50 day SMA and EMA. On the monthly the most terrible worse case scenario would be the candlesticks falling to the second support level at 1955.8 being held up by the 200 day EMA and SMA.
I will post the monthly chart next. Please go to my profile to see it.
Thank you,
Feedback and criticism is welcomed so please do so. If you like this chart please let me know and following me would be fantastic.
Not to worry friends. Given this green 9 Heikin Ashi sale signal historically the the candlesticks go sideways and slightly down for a week to 2 weeks and then it is onward and upward from there. The traditional candlestick chart pattern shows that the Heikin Ashi green 9 sale occured 8-9 days ago and it blew through that sale signal.
(On the monthly)
There is also a Green 9 sale signal on the monthly Heikin Ashis as well, however, historically going back in the charts to 2007 the candlesticks twice ignored the TD green 9 sale and the patterns continued upward. Two other times the candlesticks fell roughly 150 points and the third time was the 2007 housing market crash and we all know what went down then.
The 50 and 200 SMA and EMA shows the that the trend is moving upward.
The RSI is in the overbought region barely and it indicates a down-ish to more sideways direction.
The MACD shows bullish crosses on the daily, weekly and monthly time frames.
The best and most likely case scenario on all time frames is; S&P shakes the TD sale signal off with some sideways to down-ish movement from profit taking and and the economy keeps rolling on.
Worse Case scenario on all time frames. On the daily the candlesticks fall to the 2868.7 support level I have plotted above. On the monthly the price could fall to 2608.8 and held up by the 50 day SMA and EMA. On the monthly the most terrible worse case scenario would be the candlesticks falling to the second support level at 1955.8 being held up by the 200 day EMA and SMA.
I will post the monthly chart next. Please go to my profile to see it.
Thank you,
Feedback and criticism is welcomed so please do so. If you like this chart please let me know and following me would be fantastic.