alanmasters
Short

S&P 500 (SPX) Going Down (Time To Profit)

SP:SPX   S&P 500 Index
S&P 500 is going down, according to what I am seeing from the chart above. Let's take a look.

SPX top is sitting at 2940.91. After touching this level, it has now gone down and tested EMA10 (light blue line) as support.

Looking at the history of this chart, it is easy to see that EMA10 always works as support for SPX . But each time EMA10 is broken, support is next found right at the EMA50 line. I marked this with red arrows and lines on the chart. I also marked some dates for you.

Here is a longer term chart with additional examples:
  • Expect SPX to break down if EMA10 (2875 is broken). We need to break and close below this level on the weekly candle to active this trade.
  • Our target will be EMA50 (magenta line) sitting at 2729.56.
  • Stop loss. Close above 2940.

To further support my bias, I spotted the following signals:
  • Bearish divergence on the MACD . Building up since January 2018 (marked purple line).
  • Bearish divergence on the RSI .
  • Decreasing volume .

This is no financial advice.
All information here shared for learning and entertainment purposes only.

Thanks a lot for reading.
Your support is highly appreciated.

Namaste.
Comment: Bearish signals on the monthly time frame:

- Decreasing volume.
- RSI bearish divergence.

Trade closed: target reached: "Our target will be EMA50 (magenta line) sitting at 2729.56. "

SPX Price hits 2710.51. TARGET REACHED.

https://www.tradingview.com/x/376omcBN/
Comment: Dropping like a rock.

Another 10% drop coming in the next few weeks.
Comment: If SPX break and closes below EMA100 (blue line), you can expect for it to touch EMA200 (orange line).

Comment: Bank Of America (BAC):

Apple Inc (APPL):
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Related Ideas

Nice call on this, will be shorting this some more.
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Heavy divergences can be found in some charts like Apple, Tesla, Amazon, DXI... is this a spot of the next recession?
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The Big Fish ( .01% ) are getting out and sitting on cash and have been for awhile preparing for the down turn because they have all the wealth , time, and the best of the best when it comes to forecasting future scenarios They are hoarders of money and wealth OCD . ( where do they think this is heading ? ) . The retail investor and trader ( the little fish ) have been buying in and it has worked quite well up to this point , but only to the extent they have governments and monetary institutions supporting the narrative . I digress just rambling . Good Luck .
+1 Reply
Those Divergences are a harbinger of what is about to occur in the not to distant future ( within the next several weeks , couple months , the start of a major decline long term 2/3 years ) . I believe the Global balancing act is at its apex and is unavoidable imho . Once this starts BTFD will flip to STFR until of course They halt trading and stymie accounts . I have been early with my calls in the past so maybe the market continues Higher , Divergences in a uptrend are always tricky , and this is a big uptrend .
+2 Reply
@Peterson, Thanks a lot for the information.
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pcarballeda Peterson
@Peterson, Totally agree
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