Hello everyone! Yes, SPX did exactly what we discussed in my last analysis, and if you missed it, check the link below. As I warned, we shouldn’t try to predict where the next top is going to happen, it’s too dangerous and you will suffer unnecessary loses trying. Our trading style is reactive, not predictive. Also, follow me to keep in touch with our trades and analyses!
We detected, through our analysis, that yesterday’s Shooting Star was just another pullback to the 21 ema and the blue line in the hourly chart. That’s how we avoided the last four bear traps just this month, and warned you guys here, about all of them. As always, the link to these analyses are below.
Now, what could convince me that the trend is going to change? Several things. I already started to book my profits on my stock portfolio, check my social media for more details about it, because I don’t have time or energy to write everything here. The link to my trades on XP and LB are below (30% and 45% profits respectively).
If SPX closes under 3000 (dashed green line) I’ll book more profits for sure. But there’s no clear line between bull/bear market here, and the trend will change gradually, in my view, giving us time to book our profits, and to change to “bear mode” when necessary.
Now, look at the daily chart:
It seems SPX is going to hit the 3136, but I don’t discard pullbacks on its way. It could drop all the way back the fib retracement at 2932, or the 21 ema and wouldn’t spoil the strong bull trend. Only time will tell, but let's not precipitate ourselves shorting every single bear sign we see, ok?
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
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can you do some analysis about oil? WTI. crude oil
Nathan_Black
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@tuongvy0501, Consider it done, my friend! By curiosity, recently I did 2 public trades that I posted here on Tradingview on UKOIL, it went very well and gave us about 60% profits, search my profile for more details! I love trading oil, my trading strategy works very well on it!
Stick around, I'll do it on Monday.
Have a nice weekend!
cpickettcbmoty
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SP Market internals are very strong now, quite the change . 94% of SP 500 stocks are above their 50 Day M.A as we descend into the biggest jobs experiment in the worlds history . That’s bullish lol bc employees are costs .
Nathan_Black
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@cpickettcbmoty, Hello, thanks for the comment! Yes, I'm quite aware of these problems, and I agree with you. But we know the market doesn't work very well accordingly to EMH, and the behavioral finance explains better why sometimes it does such crazy things.
In my trading methodology I take this in deep account, and that's why sometimes I'll trade even against the common sense. I've been a bull for more than a month now (1.5 months precisely), while people call me crazy and naive, I've been just following the trend.
Here, we don't try to predict the next top, taking the risk of losing money on our attempts, we will just react when it comes.
My best regards and stay safe.
ak.michael.kim
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Hello, thanks for the analysis. btw where is your SNS IDs to follow
Nathan_Black
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@AK.michael.kim, Hey there! Well, you can check the link to my social media on my profile page. You are welcome to stick around.