The S&P bounced off the channel support today. It also tested the 1.236 fib extension off the most recent peak. Both signs that a bounce was coming. There is also a gap that looks like it could be filled. In addition, this would be a good place for a test of the 20 day moving average by end of week if not early next week. Real question is will this hold or will we...
Relative movements in price between 2-4pm for the S&P 500 on the 15 minute timeframe. 2-2:15pm: -1.85% by 3pm: +2.38% by 4pm: -3.08% Day ends at -1.68% overall You think that all of your charts and analysis mean something, but at the end of the day the price moves based on what the big trading firms with their trillion dollar portfolios and their algorithms...
A look at the big picture using 1M timeframe. In an attempt to remove the daily noise in price, you can see that even after a rough 2022 so far that we have barely scratched the surface of how bad it could get. The thing that I noticed is that the current price action looks very similar to April 2001 and March 2008. Looking at all 3 you can see both had a several...
SPX - Long term uptrend line unlikely to hold. Even if prices where to be halted at the yellow uptrend line (SPX 1750), this still represents a further 55% fall in today's prices. 'Post crisis we will likely end the positive uptrend that began in the 1930s, and enter a period of zero or negative GDP growth furthermore' - to paraphrase Klaus Schwab (Founder/CEO...
The opportunity at the present time is to take very measured, very controlled shots to the downside right now. AAPL will get hit this next move. AAPL is down -9% YTD. They've taken out all the generals except Apple . And Apple's in everything. It has been a blistering rally with one-sided trade in the S&P's. There are some phenomenon opportunities opening up in...
Following up on my 8/17 idea on the expected pull back in the S&P. The gap down below the 20 day average is a very strong sign the rally is over. The only question now is how low will it go before finding support. First stop may be the horizontal line that was a gap up. I would not be surprised for a test of the most recent low. I personally hope not lower than that.
Is this the end of that rally for the S&P? I see several strong indicators that this could be the end for now and a pullback is coming. Testing 200 day moving average Testing top of down channel RSI very oversold
SPX500 - 1,760 target is likely in short order (or maybe worse). If our current momentary system ends (fractional reserve lending post crisis), and we factor in Agenda 2030, Long term uptrend of growth ends for good (as does this century long uptrend pattern between the two red lines).
Looking at my technical analysis, we were due for a rally last week after double bottoming at the support of the down channel. Major US holiday weekend with low volume are usually times to see these kinds of rallies. I would expect the market to retest the gains made now that traders will be back, hence my guess at a retest of the April 5th, 2021 gap up area (gray...
Here is my latest technical analysis for the S&P. Been stuck under the midline of the red down channel since May. With a gap down today and the midline and black trend line squeezing price, it looks like the market is getting ready to make its move Friday or Monday. I see two key levels that we are likely headed towards. We could rally up to the the resistance...
Simple pitchfork TA of the S&P starting around 1950. Before 1950 the data on TV seems to change how its plotted between 1W and 1M. black center line solid blue line is 1.0x dashed blue line is 0.5x solid red line is 2.0x dashed red line is 1.5x The analysis seems to show the S&P currently back under the 1.0x blue trend line after a being above it since April...
S&P 500 bounced off a major trend line on Friday. The start of Friday saw a drastic drop to test and a quick reversal to reclaim support. So far on this Monday support is holding. IMO, we could see a rally here as we both have support and market is pretty oversold right now. I don't think it will go very high as the gap above has shown to be strong resistance....
IMO it is because the S&P is testing the center line of the purple channel as support. This trend line has been the core support for the S&P since 2009. You can clearly see this support in the chart. If the bull rally is to survive, then it needs to hold this line. What you are seeing right now is a classic case of the algorithms and hedge funds fighting over...
Here you can see the core trading channel for the S&P 500, and that Friday was a strong bounce off the bottom of the channel. However, the 4040 level has been a strong resistance/support level. Not obvious on the US500, but in the SPY this red area is a gap up that was not filled until May 9th. That region was tested several times in the days following that. You...
Yesterday's big sell off allowed the S&P to close the gap it created back on April 5th, 2021. You can also see that it is right around the mid-line of the 2009+ trading channel. History shows that the mid-line should provide some support and that we may move sideways along this line until market decides if it is going to bounce up or break down. 20 day VWMA and...
An update on the trading channels that I see in the S&P. The December ATH tested resistance of both the blue channel that has it roots in the great depression and 50-60's and the black channel that is rooted in the housing market crash. We now see the S&P correcting down to test the purple channel from 2015. Looking at the cRSI on the weekly, even with all of the...
Looking at the 2 major channels for the S&P 500 (note this is on VOO which is a few dollars off of SPY or IVV, but trends are same), you can see that it is currently below the blue channel that it has used over the last few years. I pointed out the obvious places where it has used if for support. IMO, if the S&P below this channel this week, then a lot more...
FYSA, SPYG tracks teh top 50 largest securities in the S&P 500. Holds 5 of the 6 FAAMNG stocks, which accounts for 39% of the ETF. I laid out what I see as the 4 main channels for SPYG. It is clearly obvious that it the current trend is way above the trend from both the 2002-2008 and 2010-2019. You can see the 2020-22 rally was an extension of a trend that...