Making some little adjustments and imagining a little bit further.
Well, so far so good as what my plan is concerned, let's see if it keeps that way (which I hope not, but I'm afraid it will).
1. Bat Pattern completed on 3-Nov, Went Down After that but again bounced back.
2. Bearish Divergence in Daily, Weekly and Monthly Charts.
3. FED meeting in December, Consumer Confidence & GDP Data on 24-Nov Employment on 4 Dec, Stocks tend to fall 20 days Prior to FED meeting (Just an Observation).
Scenario 1 - S&P will hit 20 Degree Slope @ 2100 and...
According to our monthly analysis, on weekly time frame SPX, the price reached a strong resistance area, from here, we can expect a potential pullback around 2,010 area.
MONTHLY ANALYSIS
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the spy if making a triangule. we have to keep looking through days to see if price break the support of the triangule or the resistance. I think is going up because is the market and EMA (200per) is acting as support in the 4h chart as you can see. Anyways, up or down its going to be a good gain. what do you think guys?
Bottom in place at 1820 for 2/3 weeks only. Then it can be challenged/breached.
Next few weeks mapping
28Oct Top: 1980/2000
31Oct Close: 1966 (small weekly shooting star)
Nov W1 Range: 1970/1890
Nov W2 Top: 1970
Nov W3...
Bottom in place at 1820 for 2/3 weeks only. Then it can be challenged/breached.
Next few weeks mapping
28Oct Top: 1980/2000
31Oct Close: 1966 (small weekly shooting star)
Nov W1 Range: 1970/1890
Nov W2 Top: 1970
Nov...
- The trading dynamics since June 2014 display a market under constraint that can't move higher overall.
- It is only showing strength within explored price range.
- This last leg up reminds me of the Squeeze that we had end of June 2011, the crash occured 3 weeks later.
- SP500 has had a top every 7 years.
- Technically we are at similar postures than in 2000 or 2007.
- There is the possiblity of a E (we had ABCD so far over 14years).
- In October, SP500 will find it difficult to pass 1980:
* Supporting channels that require rentry
* Monthly amplitude was already 160pts when average over 10periods is...
