This chart shows the S&P index weighted by the dollar index (DXY). As you can see, it gives us a much clearer picture, and allows us to find better support and resistance levels. Why is that so? One explanation is that it shows us the S&P as viewed from the eyes of the average foreign investor, or from large investment groups which have to take into account...
The following are catalysts to drive increased volatility to support my potential case of a right shoulder before breaking down back to 1800's.
VIX megaphone breakout
Fed FOMC meeting today 06 / 15 / 206
Potential Brexit on 6/23 - 6/24
World Market Selloff (Especially the nasty bear wedge break in Deutsche Bank and new NIK225 lows)
Bitcoin Ramp
US news of...
Since we failed to take out the recent 2150 highs during the last rally a Stage Four Decline looks possible. Historically this would lead to a deeper retracement than stages 1-3 possibly to the 1730 area.
Es is very far away monthly demand zone (1959.25-1794.75) but inside of a weekly supply zone (2105.25-2079.75). However it just created a daily original demand zone at 2091.75-2073.50.
In these conditons, we are inside of a weekly zone where previously sellers had their strenght but the daily original demand zone may give us a difficulty going downard.
We can...
H1: We have an H1 original demand zone below (yellow box)
15MIN : There is a 15min original demand zone inside of an H1 zone (green box)
TP1: 1:1 R/R
Good luck!
twitter.com
TOP-DOWN ANALYSIS
DAILY: W are currently inside of a daily demand and reacting from it
H4: We have a h4 supply zone just above us but we havent reached it yet
H1: H1 original demand zone has just been created and it is a good opportunity to buy
TP1: 1:1 R/R
TP2 :Trail your stop till just before the previous resistance high
Good luck!
twitter.com
H4: We are reacting from H4 demand zone
H1: we have just created an h1 demand zone and may go
till h1 supply zone above and test it
15MIN : We have an original 15MIN demand inside of the h1 demand zone
TP: 1:1
TP2: Trail till 15MIN unfilled orders
Good luck!
twitter.com
I have identified the market to be in a running triangle. You can see how the first 4 waves of this triangle subdivides into 3 wave structures. Right now the market is completing the "D" wave. This wave can rise even further to all time highs. If this does occur then this will become an "expanded triangle."
However, this wave can end at any moment, thus...
Short Setups:
Entry: Market
Stop Loss: 2140 which is a bit higher than the high over the 8 years
1st Target: 1870
2nd Target: 1780
3rd Target: 1600
Related: INDEX:SPX CME_MINI:ES1! AMEX:SPY
THE END OF THE 2ND BAT / W?
- .786 fib retracement from our highs since the 225 tick move down in August (2116.75)
- Top of our "tidy channel"
- Smaller green candles each rising day shows weakning momentum, doji showing indecision
- Loads of price action between 2100 and 1800:
- As of now, short at the top of this channel, long at the bottom, unbiased in the...
