I can see a repetition of the same pattern that occurred in November, with a trend reversal (Price diverges from upper BB) after a rapid rally. Furthermore, the trend reversal occurred at a consolidated resistance point 2015. Finally the stoch indicator hints to a downtrend as well as the a bearish dominance that the negative slope of the balance of power...
Apple Inc. $AAPL reports earnings after the bell on Tuesday and things don't look so rosy. The July FOMC (Federal Open Market Committee) rate decision is on Wednesday, July 27th. Unless some concrete data comes up until the report, a 25bps interest rate hike or a strong indication of one in the upcoming meetings will send the S&P500 down in an initial...
Hello Traders, $SPX created a BEARISH Wolfe Wave at market close on Friday July 8th. I would look for a short in the vicinity between point 5 and 5'. As it stands, the target is the 1-4 line as far as the Wolfe Wave is concerned. If and only if 5' (5 prime) is hit will I consider Geo's Off-Set Rule at point 4 as the highest probability target. Stay...
- S&P is trading above its 100-period SMA, which has turned green, illustrating positive price momentum - Breadth ratio is < 2.0, which is a weak bullish signal, but is starting to gain positive momentum - Net Advance Decline Line is still < 1000, which is a "not as strong" bullish signal, but is above its 21-period EMA and is rising quickly to break 1000
I posted a similar chart earlier but I guess I'll post it again with a very minor tweak to the top trend line. It's still going down the tubes, I think. Just a lot more gradually than I previously anticipated. Watch your asset allocation and make informed trading decisions. :-)
SPX500 finished an impulse 5 waves and is about to retrace to 2112.
we arrived at the top of the climb and from next week the sales are expected to begin . The max is placed between 2168 and 2179 .
we arrived at the top of the climb and from next week the sales are expected to begin . The max is placed between 2167 and 2177 .
After these curves movements we tend to see structural movements at the top. I expect a move down to the support level indicated by the horizontal line.
price hasn't closed above the down trending inverted hammer there is a morning star downtrend that bounced from support the long uptrend has been broken. if there is a daily reversal pattern, I'd wait for the next down trend to unfold. then look for entries around the highs where the downtrend started. at 3 touches to those highs, I'd look for reversals on...
2136.50: all time high 2127.60: high before brexodus 2112.10: 1st high and meanwhile support after brexouds lows 2088.90: 2nd low after 1st high and meanwhile support after brexodus lows 2072.90 : intraday high (as brexit-referendum came out) 2072.90 : 1st low after 1st high and meanwhile support after brexodus lows between 2112.10 & 2072.90...
Inverse head and shoulders pattern.
Cmon guys, lets go shopping shorts at this levels. PS: Brexit fucked up the chart a bit. Happy trading.
Every time the S&P has made a Balance area at it's all time highs it has sold off hard. We just broke the most recent balance area to the downside again.. Looking for a bear run for quite some time. I fully expect market to revisit 1850's again, just given previous patterns. Best of Luck
If SP500 cross below prior closed, sell! If cross below prior low: sell double!
Please see annotated chart for details.
pretty much just what the title says. It's time to be long short S&P! The correction is long overdue! (although the election may postpone the inevitable)