The beginning of the 1st wave of the major 5th - to new all time high If the 5th wave has started; The first condition is to get a higher high above 1882.10. That will be 1880.6 on the cash SPX chart Enjoy my linked chat below aswell. I gather all my chart at: Face book WallstScalper Twitter: @WallStScalper Stocktwits WallStScalper Webpage coming...
This chart shows current long term and short term views of the broad markets using SwingVector algorithm which is the 3rd day of experimentation in charting it out and letting the gaps be filled real time.
Not a lot working in SPY's favor on hourly
People with long term time horizons were freaking out and wanted to sell. Show this to anyone who says technical analysis isn't real. Simple supply and demand.
We could possible see it going down to $122 or making new highs by the end of the summer. $SPY
SP500 Is building Energy for its next move......... Trade the Extremes.....
An inverse correlation to the energy sector seems to proceed every market downturn. Additionally, does it not disturb anyone that American Economy has been doing relatively OK over the last 2 years while the global economy is stagnating? Resistance is being strongly tested at the 161.68% retrace from the 2008 low. My Thesis I believe low commodity prices will...
Here is some ideas where the selloff might bottom. Time will tell how much reaction there will be to the east Asia slowdown
S&P Has hit TIME 2723 DAYS & PRICE 1.618 Extension and failed. This has triggered higher time frame sells, this first leg down broke the rising channel line, the market . The impulse down was out of a daily sideways line, and has no formed excellent resistance above. Although still in a bullish trend, the market needs a resting point, either an AB = CD down or...
Bollinger Bands weekly The S&P 500 is locked in a 100 point trading range (2040-2140) since March because of a serious split in sector performance. At less than 5% this is the narrowest range in several years. Note that Bollinger Bandwidth on the weekly chart reached a 20+ year low in July. This means the Bollinger Bands are at their narrowest in over 20 years....
EW bullish count Notations on chart I remain bullish as long as 2043,4 is not taken out and expecting 5 waves up to end bull run. The Broken Arrow - ED count will be invalidated at 2212,94. I mentioning it due to a IHS is also setting up with target around 2010/12. If bearish.... the top of wave 2 up could already be in - due to not making a HH It's tricky...
This might be the end to this great bull run. This week will confirm.
It's been a pleasure Technicals has left some writing on the wall! I can't overhear. So I'm out of here.. Good Luck... Ladies and Gents! TWUC @BLawrenceM Music at work: Music at work: www.youtube.com open.spotify.com Broken Arrow? www.youtube.com www.youtube.com www.youtube.com www.youtube.com open.spotify.com www.youtube.com open.spotify.com