The market has been on hopium with the flood of new IPOs and hot stories at values that have not seen in the market's recent history collectively. Technically based on timing and price symmetry we are likely to see a natural retracement, to at least 3600 and 3535. Beyond that, my vision is blurred LOL.
SPX has been in a tight range, grinding higher slightly every day. Momentum indicators have signaled a downturn as well as the divergence throughout this 40-day long rally. The targeted retracement is 50% Fib by mid-Jan of 2021. Levels are 3591,and then 3515 (50% Fib)
After the $MES1! sellers drove prices down aggressively lower, price has been shifting to a much more range bound stance being confirmed even more by the rounding price action. There are also two separate 3-Press Lows forming at almost identical locations on top of measured move completion targets. There are likely only going to be two responses to this movement...
$ES is breaking out of symmetrical triangle. We need to close above tested base to clear path to 3500. Low of 3005 have been taken out. Making HH's and HL's. Target: previous highs Invalidation: fake-out, shitting the bed and close below Weekly Open. $ES $MES $SPY $SPX
Bullish Case of $ES_F #ES_F $MES $SPX Bulls are not done yet. Here is why: - Brocken demand base retested - Daily/Weekly Open retested - Clean break thru Monthly open, looking for retest Invalidation: close below Weekly Open. We may shit the bed below Monthly open for more liquidity.
These Fractals matching exactly in terms of Fibonacci Retracement, Exponential Moving Average and Top/Bottom Hourly. Only Algorithm with Huge Capital Power can do that. Expects for the All Time High to come as soon as by the end of this month. Thus, we're seeing the Biggest Bear Trap in this History: "-35% Crash in just 4 Weeks". "History does not repeat itself,...
Better matching by using 110 min chart. Original idea below:
People wanna blame the Corona virus, I just trust the candles. Pink lines show weekly levels here on this 4 hour chart.Speaking of the weekly chart, take a gander and see that this weeks candle is a huge shooting star following the largest bearish weekly candle in years. The bulls can enjoy the bounce for a bit more but in the next coming weeks, I think we'll see...
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
S&P500 Futures (4hr) coming up on horizontal resistance from the 11/24 gap up. If it can push through here, look for a move to the prior rising trend line at 3140. Initial support comes in below around 3070-3080 if it fails
Is it something wrong with my yesterday plan? Of course not))) I just wait for better point to open short. The Best point for short is 2961. But will price reach it?
"The Market cannot hurt Me. I can only hurt my Self!" - Josh Ridenour There is a Time for Losing - The 29th verse of the Tao Te Ching is about how there is a time for everything in life. A time for being ahead, a time for being behind. In the market, there is also a time for everything. A time for large profits, small profits, break even trades, losers,...
Bad times come for American and World economics. Main move is DOWN now. I strongly reccomend work only with short positions. The Best area for enter short is near 2960-2971. Also, price can move down right from here. Main target is 2700. Today I invite you on my YouTube channel named USOIL WTI at 11:00 by Chicago. I will tell you about my trading and answer your...