I'm bearish today (and monday) and you can find my targets and price action prediction on the chart.
Disclaimer: This is not a financial, trading or investment advice
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Stay healthy, trade safe.
We have yet to see the final clown push on this three-ring circus. Usually there is one final parabolic push before coming to a crashing end.
Even though it will probably only be a 8-10% correction because money printer goes brrrrrrrrrr... there are some big factors that could cause a dump to cascade even further to lower fib retracement levels.
These are boxes...
Upmove continues, thus I shall stop my bearish view (on Twitter). My view means nothing, just follow my trade plan and you will do fine.
Based on price action, I do expect a re-tests of 3616 and even 3588. That is only healthy. But market doesn't care so blindly buying is the good thing to do.
My bias zone is at 3638-41.2. Above R are 3664, 3673-77 (strong R...
Yesterday was a lackluster Doji day. I said it multiple times that the bears need to take this down earlier than later, and this week is better than next. Price still above 3510 which is good for the bulls.
Today is #OPEX, supposed to be volatile day, and let's see if we will get a resolution today.
Bias to downside below 3566-71.1, targeting 3555.1 and 3545.7,...
Short Term Elliott Wave View in S&P 500 E-Mini Futures (ES) suggests that the Index remains within the cycle from March low as an impulse Elliott Wave structure. The 60 minutes chart below shows the Index ended wave ((4)) at 3226.90 and it has resumed higher. Up from wave ((4)) low at 3226.90, 1 ended at 3323.5 and pullback in wave 2 ended at 3272. Index resumed...
Market is extremely oversold & fear at a 2 year high as indicated by the VIX. The opportune moment o have shorted this wave has past and we could face a potential technical bounce while the S&P 500 holds above 1851 level. Caution adding into existing shorts or establishing a new one here.
Sellers failed to bring #SPX lower yesterday. It is approaching a critical level but bulls has advantage because monthly, weekly trend is up. Sell has to come sooner than later. If not, it is just a bull flag forming.
My blue zone is 3607.2-10.6. I have shorted on break of this, below targets are 3588-92 support (yesterday's low), 3566, 3542 and 3522 should cap...
It is pretty amazing how they can release vaccine news one Monday after another, and the market just spike up (prob due to algo) like that. Interestingly it happened after Presidential Elections, I mean Trump is like boasting how much he did to help USA with the Covid isn't it? But yet this news came later. Are the CEOs of the 2 companies Biden supporters?
I was wrong with my bias on Friday but no damage done. Above my blue zone go long (multiple re-test of my blue zone) would give good profits.
Today price opened and rallied. A strong one I would say, above my initial R to the next R. Above R are 3640.2 and ATH 3670.6-73.6
Now price stuck at 3614. I had tweeted this to be a strong R together with #NDX 12060....
As warned yesterday, don't be too bullish for #SPX. We had a sell lower and based on price action, we are looking for further down today. Blue zone, bearish below 3552.4.
Now price is firmly below the blue zone, with targets at 3516, 3503.4, 3480-86.5 will offer a strong buy zone, while if we do hit 3454.6, will offer a low risk buy level.
Above, 3552.4, we...
Yesterday we had a rally brought up by #NDX. #RTY was quite flat. Where's the money? Any MORE left?
Blue zone at 3576.2-3580. Cautiously bearish below. Upside targets are 3596 and 3612 and 3641.2 will offer a low risk sell level.
Price is now already below my 1st support at 3566.6 (I tweeted on a return to 3552 and took a short at 3576). Lower support at 3550.4,...
We have a Doji daily close yesterday. In terms of price action, difficult to predict. Either way is possible
#NDX weakness will continue to weigh on #SPX though #RTY is strong (staying new highs).
Price now in my blue zone 3544-54. Above we have 3573.2-76 and 3600 as resistance. 3614, if we reach there should offer low risk sell level.
If 3544 breaks, look for...
Yesterday was a volatile day. Made ATH and more but on low volume and it back came down.
But RTY didn't came down as much thus this is something to take note of if you think a crash is coming. But bias to the downside below 3584. 3572-84 is the zone to watch, for a pullback and good short.
Below targets are 3510,3492.6, 3470-80, 3466, 3452, 3426-35.6.
Similarly to NDX, price gap up and is going higher. Pullback will come and difficult to short a strong market.
Initial resistance at 3540 breached and now at next R 3564. If fail, look for re-test of 3540 for a bounce. If it holds, we are looking at ATH and higher.
If 3422 breaks, look for shorts to 3502, 3472-80, 3440-47. 3416 is a low support which will cap low of day.
Yesterday was US Presidential Elections Day. Outcome still not known but seem like Biden is going to win it. Lots of up down in between and fake downs but bulls win it.
No doubt price is bullish but based on price action, pullback is possible today. Price now at my 1st R and pullbacked 20pts. See if this level will hold.
Bias still up above 3412-22. But in the...