BTC has shown bullish willingness. I anticipate the new year to visit the lows around 25K, and the quarterly FVG, I will be there to accumulate some. Market might decide not to even go there and just fill the inefficiency at 32K and decide to moon from there. I'd worry about BTC if we close below 19K and stay there for over a couple of days. I'm not a Crypto bull...
The S&P500 index (SPX) is currently on its 9th straight green week (1W candle) following the October 23 (weekly terms) bottom. That was a Higher Low on the 15-month Channel Up and based on that pattern, the index is approaching its top (Higher Highs trend-line).
What adds more weight to the very high levels it is trading at, is that the All Time High is just...
S&P500 / US500 has almost completed a +17.30% rise, which is the prince range it grew by on the December 1st 2022 High.
That was the first High of the long term Channel Up pattern that started on the October 13th 2022 bottom.
The Channel Up still has a little more room to go upwards before reaching its top but since the price is already over the 0.786 Fibonacci...
After last weeks incredible failed breakdown we blasted back to the upside in which case
I am sure took a lot of traders off guards. This week i will be looking for areas of supply
on pullbacks and continue to buy this trend to the upside. With most data being out of the way
lets look forward to the new year!!!!
(Position Trade)
SLO2 @ 4615 📉
SLO1 @ 4200 📉
TP1 @ 3410
TP2 @ 2745
TP3 @ 2255
TP4 @ 1550
BLO1 @ 1440 ⏳
BLO2 @ 875 ⏳
ADDITIONAL INFO:
🔥 Using this new ATH gives us a new HTF Curve
✍️ I'm anticipating the probability of POC @ 3489 will change from Support to Resistance
📉 If this curve holds, then we should expect a MASSIVE MARKET CRASH down to the mean around...
The S&P500 index is now on a healthy green 1D technical outlook (RSI = 65.835, MACD = 82.010, ADX = 81.214) following a much needed technical pullback yesterday that eased the previously overbought technical indicators. On the 4H timeframe, the index is still inside a two month Channel Up, which found support yesterday on the 4H MA50. As long as it holds, we will...
The S&P500 index (SPX) pulled-back yesterday on the strongest 1D red candle since October. A natural technical reaction after weeks of rise-only price action and an overbought 1D RSI that almost hit 83.00. The long-term pattern remains a Channel Up since the October 13 2022 market bottom and as long as the 1D MA50 (blue trend-line) is supporting, it is likely to...
I remind in my updates periodically, that nothing clears up confusing-overlapping price action, like more price action.
Meaning sometimes, as an analyst, it can be difficult to forecast precisely what is playing out, until right before a pattern concludes. This current pattern off the October 2023 lows is one of those occurrences. Corrective waves can take on...
The History is happening right here! ✨
Nasdaq-100 Index NASDAQ:NDX just set its Best First Half in almost 40 years since inception in 1985, with amazing 38.75% year-to-date return in 2023.
Among all semi-annual results, Nasdaq-100 gain this year is second only to the year of 1999.
With historical 61.44% gain in the second half of 1999, glory times shortly...
As many try to put reasoning to the perennial grind higher in US equity markets, one clear factor is that the market sees one major difference between 2023 and 2024 – the ‘Fed put’ has been reborn and the metaphorical safety blanket for risky assets is back in the mix.
Cast our minds back to January 2023, and investors were seeing inflation falling, with...
I am shorting till 4422-4250 area NFA
- Scam pump by powell on FOMC after 8 weeks in a row up
- plenty of gaps to fill on downside
- historic overbought levels and greed
The Volatility Index (VIX) is trading within a Channel Down pattern since the September 28 2022 High, which has also been the start of the 2023 recovery year for the stock markets (SPX illustrated by the thin black trend-line). Being negatively correlated in nature, when VIX declined within this Channel, the stocks rose and vice versa.
Since October 23 2023, VIX...
We are not saying that the S&P500 won't complete this market wide desired rally in the last two weeks of the year. Even January could be bullish.
But since the price is approaching the top of the 14 month Channel Up, while the 1d RSI is highly unsustainable deep into the overbought zone at 80.00, the market is most likely positioning itself for a strong technical...
The S&P500 / US500 is trading inside November's Channel Up, with the price turning sideways after nearly hitting its top.
This is a comfortable bullish trade over the 4hour MA50 and looks very much like the November 5th-9th consolidation.
As long as the 4hour MA50 supports, buy and target 4850 (top of the Channel Up).
If it breaks, sell and target 4550 (bottom...
S&P500 is trading inside a 1 year Channel Up with the price reaching today the 0.786 Fibonacci level, following the Fed rate hike.
Following the Bearish Megaphone that initiated November's rally, the can see that the last time such pattern started a rally, it peaked on the 0.786 Fibonacci (Dec 01 2022) before pulling back to the 0.236 level.
Trading Plan:
1. Sell...
Are we there yet?
This Santa Claus rally seems to be very strong, but for how long is the question.
Level to watch: 4700 --- 4702
Reports to watch:
US:EIA Petroleum Status Report
10:30 AM ET
US:FOMC Announcement
2:00 PM ET
US: Fed Chair Press Conference
2:30 PM ET
