S&P500 daily- 50% Fib retracement respect.
Since market peak on Feb 14th, SP500 is down 26%, Bitcoin down 35%, and Gold up 3.6% Interesting how everyone use to compare Bitcoin with Gold saying it was 'Safe haven'- clearly not!
S&P500 daily- reflecting south from 20-day MA and 38.2% Fib retracement level.
Resistant levels - finding markets bottoms at priori mode Finding markets bottoms - priori mode, important resistance levels signaled at red color in spx index and based on value line geometric line, ie, common stock performance...
S&P500- Back within Broadening wedge. Major support around 2000-2050. If this is breached convincingly, watch out below!!
The 200 period moving average has been acting as support for a long while. If this Coronavirus goes nuts, prices will slice right through it.
Just for Stats ... Number of days during 1 month when SPX index move more than 1 %
S&P500 back into its broadening wedge formation. Likely to stay there if it fails to convincingly breakout above its broadening wedge.
Still a strong overall drowntrend regardless. SP500 is down over 11% at its peak in just over 7 trading days, and with all corrections (assuming it's that), takes an average of 4 months to hit bottom. If it is a bear market, than the average time to hitting bottom would be over well over 4 months.
Finding markets bottoms - priori mode, important resistance levels signaled at red color in spx index.
It has a high chance that S&P 500 will re-test 3,000 level early next year based on the two fractals I posted earlier. Keep your cash ready!
S&P500 - Daily chart hits temporary support. Likely to be temporary support. The virus won't stop spreading anytime soon.
SPX Year-ahead forward consensus expected earnings divided by average of Moody’s Aaa and Baa bond yields comparison with SPX index, SPX based on this metric is at present time not expensive, but relatively cheap. Same chart as but different source of data.
SPX Year-ahead forward consensus expected earnings divided by average of Moody’s Aaa and Baa bond yields comparison with SPX index, SPX based on this metric is at present time not expensive, but relatively cheap.
SPX index and US treasury yields below Core CPI index analysis
I found an incredible matching fractals with both of percentage-wise measurements (up & down) and pattern similarity compared with the period of 1968-1970. Expects -35% down side and a recession if this history repeats itself. Prepare for the worst guys! “History Does Not Repeat Itself, But It Rhymes.” - Mark Twain
1-2-3 trend reversal completed, if the S&P500 daily chart breaks below red line (3215)
S&P500 daily chart shows rising double peak, but corresponding falling RSI peak. Bearish.