I tweeted on 22 Oct when SPX is at 3422, we will see a down before end of year to 3140, 3062, 2888.
I called a possible pullback yesterday (29/10) in #NDX. Pullback occurred. When everyone is bullish, news out. Market tanked 300 pts - just at the hit of my R zone (see my other #TradingView post). So where next?
I am bearish longer term but intraday, we MIGHT...
Yesterday (27 Oct) #SPX #ES_F closed at the lows. It is still ranging now. Normally if we are to pullback, it should come quickly from open, but not so yet, thus probably we will sell in Europe session. But do note that 3402-3406 is a valued area of yesterday, there is always a probability we might pullback to there. That will present a low risk short...
My post yesterday was titled "Let the crash begin?"
Probably will be more apt without the ?
We had a 100pts downmove then a pullback of 50pts. I still see further down; as I tweeted yesterday, no news is bad news.
Blue zone is usually my buy/sell level.But given the large movement yesterday, I actually put in an orange zone.
Be short below 3406 target...
if you pull up a 2-day chart of the VIX and analyze price action using a 200 period MA, you'll notice that price action NEVER creates a pocket of dead space between its moving average and the price action (see turquoise boxes), except prior to a period of major/increasing volatility. I've highlighted the present anomaly as well as the 2007-08 global financial...
Price still ranging, in balance. 3 things which could affect the next move in SPX are the earning announcement, elections news, stimulus talk.
On a broader picture, as per my tweet last week, I am seeing a set up for a bigger correction coming before end of year.
Anyway for 26 Oct, look for longs only above 3460, targeting 3474, 3487. 3504 should cap high of...
I'd love to see some arguments why this is NOT a BEARISH descending triangle. Post away! Please reference more than one indicator/chart time frame. A bullish/bearish case may be made at any time using one point of perspective.
Price is ranging with no clear direction. According to my system, price is in an uptrend on a monthly TF, but down on a weekly and daily timeframe.
Market is probably waiting for outcome of the stimulus talk to decide the direction.
I have identified the levels to trade on.
Above 3446.8 bias is to the upside, targeting 3467.4 (rejected by this level...
Well at first I was thinking this was going to be a gap-up Monday, but I'm thinking we'll see a retracement in the AM followed by another slow, low volume trading day. The market seems ambivalent to buy or sell, given the pending deal in Congress. I'm net short; if I get closed out tomorrow AM, planning to stay in cash for the remainder of the week, or until we...
The market tries to give hints about what direction it's heading by giving us pivot points. If we look back over the past couple months, we can see a point of confluence where price action looks like it got into a really bad accident. Immediately prior, it took a spill and formed an ascending triangle. The point of confluence is the juxtaposition of FANG (and...
Yesterday, SPX hit my support level and rebounded 40-50points. However my system says that the down move might be short lived. Current rejection off 3487 gives possible further down move, targeting 3476, 3452. If 3452 (yesterday's support) breaks, expect 3420. I will wrong above 3492. Above R will be 3506 and 3528, which should cap high of day.
Just re-posting this as my original post 12 hours back is hidden for including my Twitter handle! oops
I trade by identifying spot on daily turning point levels everyday for many instruments, including #SPX. Set price levels near these levels and trade when opportunity comes.
New to #tradingview. Will be providing my intraday levels for some of the instruments...
Boxes, people, boxes!
Look at my boxes and be embarrassed you did not realize to put horizontal rectangles in the same place that I did. It has become clear to me that my boxes are dictating price action. Feel afraid? Confused? Read on, you weary soul.
I believe there's a chance that price will move down a bit into the developing VA (the blue lines you see on...
After a strong rejection on the weekly 21 EMA, price closed one time framing up and it is holding the 09282020 Gap up,for that reason, bulls are winning the battle until now.
In a lower time frame we can see that we have a complete auction in both sides but the buying tail is a little bit bigger than the selling tail, for that reason the odds of a break out on...
With the market´s sell off thanks to this kind of news, we were looking stocks with high level of confidence to get bullish opportunities, for that reason we took PTON, we see 102,02 as a support to take longs until 104,55
SPX key references are the pre markets lows 3210.
If we break below we should be open to test 3195 and further below to 3155;s is on,
Entire view invalidated for a move an hold above the 3245s.
Game for this move?
This is my expected (predicted) price action. It states 33% up and 66% down and it's valid only until end of the day.
Let's see how is that going to work.
Disclaimer: This is not financial or investment advice
Stay healthy, trade safe.
Atilla Yurtseven
Elliott Wave View of S&P 500 E-mini Futures (ES) suggests the Index ended the cycle from June 15 low as wave ((3)) at 3587 high. From there, Index has extended lower to correct that cycle. The correction is unfolding as a double three Elliott Wave Structure. Down from wave ((3)) high, wave W ended at 3347.75 low. Wave X bounce ended at 3453.25 high. Index then...
