S&P500 This Week Perspective
This week should be the turning point on weekly chart and price should start falling off the high next week. Are we talking about the odds here, the import point I want to stress on here is the weekly high 2044 must be respected. Any breakout of this high will turn S&P 500 into bullish mode again 2064, 2070, and 2099 are possible...
This mini is in need of a pullback but with every hint there's a rally. Friday produced and nice reversal candle on a Daily basis and we passed on the signal. When the algo buying starts you can get trapped quickly. Watch the price ladder...when pullbacks are shallow and aggressively bought be rest assured the algos are in charge. Either get on board with them...
S&P500 Forecast-ed Move for this week.
ES 12-14 reached 2030 completing the forecast-ed move published at beginning of the week. There is good probability for the market to reach the second boundary 2048-50 today or early next week. So sell stop loss can be moved now below 2028-30 level until the next target is reached either today or next week.
For the short...
This is why we don't blindly step in front of a trade. SEE our last ES post. We pick areas and watch. We also said that if we traded through area #2 we could keep going...well?
No need to be a hero and try to catch tops and bottoms. Find areas on higher time frames...wait for price to come to you and then use smaller time frames to trigger the trade. Keep...
ES 12-14 is preparing for a weekly top next week Monday November 3rd, 2014. Any pullback to 2003-2004 zone will be a good buying opportunity for an upward move before reversal.
Targets will be 2028 level and if the price closes above this line, next target will be 2048.
Note the move will be accompanied by United States elections, 2014.
I prefer testing the...
The ES1! paid us well on our last trade (see post link) The only mistake is we didn't press it into the mid 1800 levels. Now the bounce is on. Here are some levels we are looking at for the next week. If we creep above the second resistance area then the bulls could step in and try to squeeze the bears.
The ES1! is treating us well. We almost got both targets on the same day. So we are still holding half our contracts. From our original post we have moved our stops down to protect gains. We are expecting a little bounce before she rolls over again. FYI...we will do what we can to protect the gains of the second half of the trade while giving the market...
Just a guesstimate when considering last two meltdown. Each was steeper than the last, and each plunged further in shorter amount of time.
Considering the Fed, it's likely
S&P Futures are seeing a large sell-off, after putting in a double-top through a longer-term wedge pattern. Current price action has broke the large, ascending trend line first created in in 2012; subsequently, that was the last year the S&P saw a 10+% correction.
Reality sucks when key data points deteriorate. Housing data is continuing its downward path, while...
The emini is looking weak in this area. This consolidation suggest more downside. We will look to get short on any smaller time frame bounces. The stop will be just above the resistance area. If we break 1957 we could invite some new selling and squeeze the weak longs. PUKE'M
Elliott Wave Principle is a 'theory' based on a line chart. Sometimes I forget about that.
Yellen, Scottish vote, option expiration , $BABA IPO - this week will give us a hard time yet.
thepatternsite.com
Isn't it amazing that mediocre economic data can't make a market move but a crappy iwatch can turn the market on it's ear. That's what the markets have become.
The SPY is trying to break but no clear break down yet. We will watch the ES1! during the globex session for possible entries. Though we are expecting a bounce before any break.
Friends,
A quick and dirty way to forecast your way across the blank screen is to make use of very simple tools, such as Fibonacci forward projections of its significant 1.618 extension.
In the case of the #ES, here we are dealing with a high-probability geometry, derived from a Elliott Wave's pattern, in which we recently noted a Bullish Flat.
Hope this...
Please see chart notations. Several aspects of the E-mini to watch. Small gap to fill to the upside will be fulfilled around 1968-1970 handles. Large gap to fill to the downside would be fulfilled at 1930 handle. Price is respecting the support/resistance barriers offered by a pitchfork fan draw from the LMA swingpoints. Price is currently contending with the...
