Hey everyone! Sorry for being away for a bit, while we did follow my red graph down and I had shorted into some of that, I did not feel comfortable following it back up and went over to trade several 6E contracts instead. Not sure the income difference was much, but it felt like a safer trade following long term valuation of the Euro than hoping stocks regain...
Multiple time frame analysis for Dow Jones Index.
Bearish outlook explained.
Important key levels & price action analysis.
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Daily/4h/1h time frames analysis for Dow Jones.
Price action & key levels.
Trading plan explained.
SMC outlook.
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After a Huge rally yesterday, futures are trading around yesterday's High.
Any test of yesterday's HIGH could provide direction for the day.
Level to watch: 4522 --- 4524
Reports to watch:
US: Business Inventories
10:00 AM ET
US:EIA Petroleum Status Report
10:30 AM ET
SPX is destined to drop hard, back to 2009 lows.
I decided to go short, to catch the next Market Crash.
It's the previous Wave 4 of a lesser degree.
If you know Elliott Wave as I do, then you are getting ready too.
In my opinion SPX500USD has topped a Wave 5 of a large degree.
More info on that in my Full Wave Count for that 150y old chart.
Here's a picture...
The S&P500 index (SPX) fulfilled our previous Cup and Handle (C&H) pattern, as even though it had a week closing below the 1W MA50 (blue trend-line), it eventually bottomed and has since been on a 3-week rebound that broke above the Handle, turning the 1D MA50 (red trend-line) into a Support again.
Perhaps the strongest technical development of the week is the...
Capitalize on the around-the-clock liquidity of E-mini S&P 500 futures (ES), and take advantage of one of the most efficient and cost-effective ways to gain market exposure to the S&P 500 Index, a broad-based, capitalization-weighted index that tracks 500 of the largest companies of the US economy and a key indicator of the stock market’s health. With ES futures,...
S&P500 crossed over the Channel Down that started in late July, turned bullish on the 1D technical outlook (RSI = 60.269, MACD = 21.240, ADX = 31.244) and ahead of the U.S. CPI report is targeting the R2 level. If today's 1D candle closes over the top of the Channel Down, aim at the R2 without a pullback (TP = 4,530). If it closes under it, buy after a pullback...
If you check our previous post on the SP500 here you'll see we called the top of the B wave in back in July and since then we've moved down in a leading diagonal to complete wave 1 of C, now we're in the middle of a sharp and fast wave 2 and we believe Friday just gone marked the top of the A wave of this wave 2, we're expecting a pretty quick decline for the B...
As we continue to subdivide within this larger cycle wave a down targeting the low 3,000 area, we appear to find ourselves in a countertrend b-wave retracement. This area has the potential to carve out potential complex patterns as b-waves and wave 4's are the areas where traders are frustrated from a sentiment standpoint.
I do not think we should be prepared...
Last several days market has been rallying. However, last few sessions traders seem to be selling in the afternoon session.
Level to watch 4395 --- 4393
Report to watch:
US:EIA Natural Gas Report
10:30 AM ET
US: Jerome Powell Speaks
2:00 PM ET
We've all heard that the small capitalized publicly traded companies lead the larger cap companies, more so featured in the broader indices. A quick look back shows the Small Caps Topped in November 2021, whereas the Nasdaq and SP500 did not top till January 2022. Subsequently, the IWM bottomed in June of 2022, and it took the NDX and SPX till October of 2022 to...
The 1st half-year of 2023 is near the end, so the June Triple Witch quarterly expiration on the financial markets just took place the business day before.
The S&P500 index ( SP:SPX ) has added 14.44% in net prices since the beginning of 2023 and 15.36% in its total returns ( SP:SPXTR ), back to levels above 4,400 that were not seen in the past 12 months since...
It's no secret that the stock market and in this particular example, the S&P500 (chart on the left), is negatively correlated to the Volatility Index (chart on the right). What we do want to bring to your attention however is how tightly this correlation has been in the past 12 months with VIX's Falling Wedge having the price on its middle, almost on perfect...
The S&P500 index / US500 broke and closed over the 1day MA50 on Friday, for the first time in almost 2 months.
Even though it is a major long term bullish development, we see a short term sell opportunity as the 1day RSI is reversing, signalling a loss of strength on the 5 day rally.
The long term pattern remains a Bearish Megaphone, so such minor technical...
Capitalize on the around-the-clock liquidity of E-mini S&P 500 futures (ES), and take advantage of one of the most efficient and cost-effective ways to gain market exposure to the S&P 500 Index, a broad-based, capitalization-weighted index that tracks 500 of the largest companies of the US economy and a key indicator of the stock market’s health. With ES futures,...
Capitalize on the around-the-clock liquidity of E-mini S&P 500 futures (ES), and take advantage of one of the most efficient and cost-effective ways to gain market exposure to the S&P 500 Index, a broad-based, capitalization-weighted index that tracks 500 of the largest companies of the US economy and a key indicator of the stock market’s health. With ES futures,...
ES experienced a remarkable surge in the past week. However, we've returned to the crucial breakout and retest range of 4400-4430. For the rally to persist, it would be ideal for ES to have a moderate retracement and maintain demand in the vicinity of 4325-4340. While the price might continue its upward trajectory without a pullback, a measured retracement would...
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