...from a technical point of view and looking at hourly chart, the answer is "yes"! Hello everybody! If we look at the whole bullish movement started from 22 October 2022, it doesn't seem to me an impulsive rally, far from it! The developed swing seems to be something similar to a corrective structure (ABC Pattern as shown on chart), and if this analysis is correct, SP500 should trigger an interesting bearish leg with targets around 3710/3650 area. Today and tomorrow very important US data will be released and we must not forget that if the data will be good it is possible that the market reacts on the opposite side.... If we look in the long term, I am absolutely a bearish as well as shown in the chart below. (Click & Play on Chart below)
Trade with care! 👍 ...and if you think that my analysis is useful, please..."Like, Share and Comment" ...thank you! 💖 Cheers! N.B.: Updates will follow below
Comment
⋅
Some technical levels.... ... I hope they can be useful... 💗
Comment
⋅
30' chart...
Comment
⋅
30' chart
Comment
⋅
it might be interesting to also follow 3968 as an extension, it would be the best level....
Comment
⋅
Comment
⋅
Comment
⋅
Comment
⋅
Comment
⋅
Comment
⋅
Comment
⋅
Comment
⋅
very fast target (H&S)
Comment
⋅
Comment
⋅
Comment
⋅
approach to important support area....
Comment
⋅
Comment
⋅
The support area seems to work correctly, but if it triggers a correction or a reversal, we will know this in a few hours because it will depend on "how" the swing will develop...
Comment
⋅
Comment
⋅
I'm not sure if I will keep posting updates about this setup, but the trade is safe, as I mentioned a few days ago, I moved stop loss to BE. Trade with care! 💗
Comment
⋅
other considerations below
Comment
⋅
Comment
⋅
The current environment is very serious, if you are not a gambler, be careful about going long in the markets... IMHO 💗
@averkie_skila, can you give a quick explanation of the implications of this red down? My puts would appreciate it thanks.
averkie_skila
⋅
@yupyupyup, tradingview.com/script/MhlDpfdS-Volume-Flow-Indicator-LazyBear/ That on a larger timeframe, the indicator moves into bearish territory and selling becomes a priority. In general, this is an indication of a downward trend. This indicator is the more interesting the older the timeframe is. But since on the lower timeframes there is still room to move up and down, there is no rallying fall. But in general we got a convincing bearish signal.
Hello....thanks for all your time and effort on this, but quite simply, I can't see these markets coming anywhere near these levels again (technically) sure another pandemic/WW3 or something like that, but otherwise can't see the S&P coming anywhere near 3600/3700 again.... Hope you right and I'm wrong. Thanks for sharing Cheers
TheAnonymousBanker
⋅
@Laurent10, or... you right and I'm wrong! 😀 thanks for sharing your opinion! 💗
Laurent10
⋅
@TheAnonymousBanker, haha - look I have for a long time expected the markets to 'tank' but all I see is EVERY SINGLE drop/short/sell being bought/taken out. "They" will not allow it to fall to these levels...unless. as I said, another pandemic etc. I still expect and see more downside (DJ to 30k) - can't see it going any lower and the S&P seems to be struggling to break 3900....but lets wait and see. Thanks