The_Unwind

"Bullish Reversal" DAILY SHORT TERM TREND NOW BULLISH

SPCFD:SPX   S&P 500 Index
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S+P 500 has had a Very Powerful Technical Bullish Reversal."
changing the Short Term Trend to BULLISH at the Close on 12/26/18.

Technical Qualifications of the "One Day Reversal"
is trading lower on the Daily Bar, and then Closing Above the Previous Days High,
12/26 Low at 2346.58 was Lower than 12/24 Low at 2351.11,
and 12/26 High/Close was above 2410.34 High from 12/24

TREND ANALYSIS DEFINITION... USED FOR ANALYSIS
REFERENCE THIS TABLE, FOR FUTURE DEFINITION OF TREND.

DAILY BARS = SHORT TERM TREND
WEEKLY BARS =INTERMEDIATE TREND
MONTHLY BARS= LONG TERM TREND

This" Bullish Reversal"
rescuing the S+P 500 from the brink,of a bear market
now opens up the possibility of something more substantial for the Bulls.

A Weekly "Bullish Reversal" TECHNICAL SIGNIFICANCE
trading lower on the week, but then trading and closing higher,
would be a MUCH MORE SIGNIFICANT TECHNICAL EVENT should it occur this week.

In order to accomplice that, the S+P 500
would need to CLOSE Above LAST WEEKS HIGH at 2601.13 on 12/28/18

SHORT TERM BULLISH SUPPORT IS NOW AT 2410.34

SPX Last 2467.70

THE_UNWIND
12/26/18
NEW YORK






Comments

thanks for your chart--- Do you think this rally can be sustained. Many are saying that Selling was done with volume and today pump is done with low volume? what do you think?
+1 Reply
The_Unwind mhayeea
@mhayeea,

Price to me is all that really matters as a trader.
This is a holiday week, so if volume is lighter, that may be the reason why.
But it's really too early to tell.
Reply
@mhayeea, good question. it may be a systemic squeeze - and in my analysis the short paradigm is intact. Things are flying strange.
Reply
HAHAHAHA jesus there is really naive noobs who thinks that USA stocks will ever go back? :DD USA is doomed. 2008 will look nice compared to 2019-2020
Reply
@tommix,

Certainly a possibility. Thank you for your wise input here.
Reply
Spawn777 tommix
@tommix, Bullish move today with the reversal. It appears that the world is fine with deflation and having the central banks being the House that controls all. Crazy but that's the world we live in now i guess
Reply
Nasdaq 100 led the US down. Then it entered a support area. Meanwhile, Crude Oil was sitting right on a large long-term support. The two supports together gave a great trigger (excuse?) for a giant bounce.
Reply
The_Unwind worldwidehappiness
@worldwidehappiness,

Yes. Both rallies came on top of long term support. Good point.
But now both NDX and CLG must now prove that its not just a one day short covering wonder
Reply
Sir, what timeframe is this ? M15 ?
Reply
The_Unwind LoLBeach
@LoLBeach,

15 Minute
My Brother.
Are you focused ?
Reply
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