ES broke the uptrend small channel off am lows, good sign there. Its also jumped out its upper bull trend channel, must watch for possible fake out. If it means business for the bulls, I will trade the re-test of the trendline in am.
If you look at the chart, you can see that we hit 1.618 to the penny and the price is hovering right at the extension zone. I say...
“The Rowing Song”
Round the world and home again
That’s the sailor’s way
Faster faster, faster faster
There’s no earthly way of knowing
Which direction we are going
There’s no knowing where we’re rowing
Or which way the river’s flowing
Is it raining, is it snowing
Is a hurricane a–blowing
Not a speck of light is showing
So the danger must be growing
Are the...
Despite the huge upside we had the last weeks, we are STILL in a massive downtrend. I see it going up till 4200, when it should lose some momentum, this volume has been driven by the results of big companies. I think that the market today is not pricing the stagflation that we are heading into, and it won't till the analysts of wall street adapt their expectations...
Having a connection in Toronto, have time to update.
Im short ES here from 82 and 87.5
We are right into the 61.8 retracement as well as the Maj trednline off 2009 lows (red line)
Min target is 3914 but should test lower into the 3900 zone next imo.
Ideally we test my 3875 zone and move back up for lower high or the ideal high to 4033-34 and even 4075-90
possible spy play out leading to the fed minutes esp if talks of balances sheet run offs. i dont need to list all the other crazy factors which are on the chart. mrkets can and will do anything its just something i kinda eyed out.
This devastating bear market officially began 6 months ago back in January 2022 for the S&P 500, and it's far from over, with an official recession on the horizon, potential bankruptcies, a housing bubble that's about to pop, and potential war, there is a lot of fear in the economy & market, but could there actually be some similarities between the 07-09' crash to...
Yes, SP500 is down a lot.
Many indicators show oversold.
But what I see here is nothing more than a natural pullback, which seems to align with the Pitchforks 50% Parallel.
To me this could be a gift from the god to load up a little more. My target is still the Centerline. From there, we will see how the market behave.
#planyourtradeandtradeyourplan
SXP500 Index! Today we are here to talk about the SXP500 index.
Today: The index is trading at 4155. In the last trading session, we saw a sharp drop down that we expected earlier, as well as a return movement, here is a link to the idea.
What's on the market now:
There is a lot of volatility in the market right now. Associated with an attempt to buy the...
Today we are here to talk about the SXP500 index.
Today: The index is trading at 41 31. Last trading session we saw a sharp drop to 4100 which we expected earlier, here is a link to the idea.
What's on the market now:
Because of all the negative forecasts for the production of GDP and the presence of strong inflation. The US global market goes to the 3850...
Prior major short signal:
And here we are again
I see a good risk/reward short here in the SP500.
There is much more than in this chart, but this is already enough of confirmation that the market is taking a deeper breadth.
After a 5 wave decline ,we are in recovery wave (B) which has the potential to lift the index to 4422, watch todays price action and trade accordingly,
I just combined both EW and PA for forecasting SPX index.
both are reflecting price and emotions of bulls and bears(price action traders always look for opportunity to trade in either way)
But Elliotticians will trade in the main direction of the trend(down) .
Since trading in options(buying), is a premium game(theta erosion),better to enter on 9th march
The up-sloping Action/Reaction lines (orange) gives us some framing around the craziness.
The Red pitchfork catches the extremes and important turning points
For now we have Swing P3 and P4, now there is missing P5. What does that mean? It means I see another flush to the downside. Yesterdays weakness is another indication for it.
For now, I stay out of this...
In this update we review the recent price action int he SP500 using the front month futures contract to identify the next high probability trading opportunity
