AndyM
Short

Watch for S&P: reversal likely next week

FX:SPX500   S&P 500 index of US listed shares
177 4 2
It looks like the ending diagonal that's been unfolding since October 16th has now entered its final wave 5. Likely to have a throw-over above the upper channel line in a few days and then a very quick reversal to at least the point of departure: 1820.

Watch the level 2134 very carefully: this is the level where the rising wave of 2008-2014 has 1.618 fibo relationship to the declining wave of 2008. If these waves are related (probably A and B of a flat correction) then this point can be very significant and may act as a reversal point.
AndyM PRO
2 years ago
P.S. Also note that wave 1 of the ending diagonal is related to wave 3 through 0.5. If wave 5 is related to wave 3 as 0.5 as well then we obtain the final target of 2132 which is very close to 2134 level mentioned in the description.
Reply
AndrewMills
2 years ago
....sounds good in theory, you are betting against central banks who can print as much money as they want, how do you compete with that? they simply look at how many are short, and they squeeze you to death thus, this market makes new highs on the backs of those who, logically are correct, but this is a casino, not a free market.

the central banks can push this up in a number of different ways. they could simply kill the dollar, that would push the market to new highs... they could also announce some lame deal with russia... as though now we are going to work together... what a joke... all of these big governments are working together to keep the plantation mentality alive... and its WORKING
Reply
AndyM PRO AndrewMills
2 years ago
I think this time, as many times before, the market will roll over the central banks. I don't have any short position yet, but if I see a breakout from the lower channel boundary - I will certainly go short. Imagine all those retail investors sitting all-in, with minimal cash and maxed out margin.. This will collapse, the market just needs to reach the boiling point. And I believe we are just 15 pips away :))

Reply
AndyM PRO AndrewMills
a year ago
well, there we go, look like my forecast for the top was right to a pip :) Feeling pretty good about myself this time :)
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out