SP500 - Fake breakout - bull trap — S&P 500 index of US listed shares (FX:SPX500) / 2015-02-16 — YaKa

TradingView Ideas Scripts Chart

Go PRO

Short

S&P 500 index of US listed shares (FX:SPX500)

FX:SPX500 S&P 500 index of US listed shares

it can't break the continuous line...

A hug is maximum and expecting it is probably too much of a present for all the TA community.... So something disturbing in the middle is really what I would expect.

I agree , the market need a correction ...at this level buyer are afraid of a downfall...at any time...

There is also a long time channel the sp500 has been trading in 1950-2015 logaritmic chart. Price is currently at it's center channel trendline which has been support and resistance in the past. In 1987 price broke it as resistance, yet it couldn't hold it as support and resulted in the crash of 1987. In the 90's price just powered through it and a huge rally started as a result. I agree, big resistance here. If I am wrong i must be not seeing something everyone else is with the current bull market.

elp

Short term the rate of change quaterly, monthly and two week is all pointing up atm. The profile is not similar to last October and in fact is the exact opposite. The the ROC rolls over there will be chances to enter the short.

elp

yes. thx

technically I agree it is in need of correction badly. I like to see the moving averages pointing down showing the commitment of sellers though. From a fundamental stand point the jar will come from a central bank which has not happened yet. Yellen testify s before the Senate in the next two weeks so we may see something then. For now institutions are going to park their money in dividend stocks with good earnings imho

i really hate to see SPX shoot to 2592!!
But who knows

is the current rising wedge in Nasdaq Composite bullish/bearish?

jangseohee

this is what I see, late 15 or in 16

SPX Weekly forecast for a possible correction...

Now we see all the same for us indexes....the question at 1 million is when...?

maximus71

you can wait for follow thru.. if you want more confirmation

It can't? That type of mentality is a recipe for disaster. The market can do whatever it wants.

rmwallner

which is why i never wait and often jump the gun abit early :-)

rmwallner

everything is possible in the market....
so "can't" has to be put in the market context.
sometimes you have strong assumptions...
I TELL YOU: this assumption has been right for a while now and I STRONGLY BELIEVE THE LINE WILL NEVER BE BROKEN OVERALL (meaning staying below 1% above in closes).
the lines climb 1% per month compounded and will be at circa 10,000 in 2030... 12% coupounded is a very big progress over time...

how many times have you been wrong?

theyield

Plenty of times. The key is to being right more often than wrong.

on swings of 5/20% i have been right often since July09.
i have been strategically wrong in april13 and october13.
I have been tactically wrong on oct14 when i called a crash which did not materialise when SP500 broke 2000 on the japanese qe...

NOTE: since June last year there has been only 7% upside... the market is constrained whatever impression it gives within rallies.

How It Works

Features

For the WEB

Widgets

Community

Blog House Rules Moderators People Chat Chat History Press Referral Program Advertise

Tools and Features

GO PRO Stock Screener Forex Signal Finder Economic Calendar AppStore Stock Charting Library Trading Terminal Publishing & Social Tools

Support

Status Page Feature Request Help & Wiki FAQ Contacts Terms of Use Risk Warning Privacy Policy

Trading Ideas

Stocks Forex Futures Indices Bitcoin Elliott Waves Harmonic Patterns Technical Analysis

Made with

From the creators of MultiCharts

Select market data provided by ICE Data services