its hard to gage what type of broadening wedge formation it is, green bullish case, red bearish case. Monday/Tuesday should dictate. If bullish, next post is my idea into mid october & possibly into the holidays.
Alpha Capital Wealth This is a most basic style chart I have made. Each yellow box is from 21:00 / 08:00 There is session breaks added to see each day clear. I have highlighted buy zones in green horizontal lines. & the sell zones in a red horizontal line. Simply to use this chart. Take buy zones and add buy limits or entries in the zones, ( price related)...
Looking at the current corrective wave structure, I think that we have another leg or maybe even two down before that market finds a bottom. In Elliott wave theory, wave C is based on the drop of wave A by aligning it to the top of wave B as shown in the chart. The market is currently testing the 0.618 fib level. This is also the bottom of the current down...
Do we see some relief into October? Seems likely.. I think a possible test of the 50% retracement (another 2% downside) is possible.. Fundamentally, Macro seems bad, but forward looking, DXY rolling over, Oil already rolled over... It's possible a relief rally follows before another sell off EOY. Similar charts with SPX and DJI
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...
Other banks will probably follow the #BankofEngland #Fed Reserve is watching & it fits SHORT TERM bull narrative Updated $VIX - Don't see a major crash in 2022 #stocks #crypto #VIX $SPX $SPY $NDX #NDX $DJI #DowJones #NASDAQ100 $BTC $ETH
Minimum target. Getting over that and we could see a test or fill of the gap area around 302 - 308. Good luck!
A fresh breakdown in Apple from it's multi-week range isn't going to help the Nasdaq $QQQ stay away from its June lows, but it's a great immediate test for the market. If buyers, do in fact, bid into Apple and drive us higher into the close, absorbing the bad news, that could spark a bounce broadly, suggesting bad news is priced in, but it's on the buyers to...
NDTW = the percentage of Nasdaq 100 stocks above their 20D Moving Averages NDFI = " " 50D MAs NDOH = " " 100D MAs NDTH = " " 200D MAs I noticed NDTW was at 1 for the first time since Covid bottom, where it only spent a week bouncing a round down there; but this is closer to the 2008 crash. So I examined that. When NDTW went under 5% in 2008 for the first ...
The Forex markets have been playing games with the U.S. Indexes; but weighted by DXY, the markets actually look much stronger, especially on the latest leg down. Possible IHS if it reverses soon. The signal up top is the difference between DXY weighted and USD weighted. If you scroll out you'll notice there's never been this much discrepancy between the two.
The anatomy of these two bodies are identical. The murderer the same. The "plateau" that was shaped in 2004-2006, is identical to 2018-2020 The chopped off head exactly the same. Traders in 2008 had no clue (?) what would happen. (I doubt it, many knew very well what was happening) Now that we have a direct counterpart, and a not so distant one, comes the...
For the first time, ever, as a species, immortality is in our reach. Oops forget it, this is from another script. For the first time, since quite some time, NDX's RSI is almost ready to: Close below 50, retest 50, and drop below it yet again. Only 10 days for it to change its mind. Maybe the point of no return is long-gone... Tread lightly, for this is hallowed...
Please read to the end, for a probable explanation that falsifies this one. We are living the precise events that led up to the 2000 .com bubble burst and the subsequent 2001 recession. Now however, there was no blow-off-top event to make the two events identical. Back in 1998, there was a "black swan" event, which was more apparent in DJI/SPX. This was caused...
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Look for $SPY to unravel over the next few weeks with a $VIX spike that sends it down to $291. My analysis is that ~290 is the completion of this bearish cycle. It also lines up with support established in 2018 and 2019. Down there is a long term buy, but it really could go as low as 155 in an extreme bear case (would need further exogenous shocks in the...
Our last post on the Nasdaq index outlined our bearish stance on the general stock market. Today will be no different, and we will reiterate our grim opinions and provide more thoughts on the latest developments in the market. Since our last article, the Nasdaq index continued to drift lower; meanwhile, QQQ reached our price target of 280 USD and halted its...
in my opinion nasdaq has a great uptrend for a couple of weeks, to 14000 but be careful after this up , we have great down again good autumn and bad winter maybe
SPX daily chart with long term Regression channel, 3405 days, with +3/-3 stdev bands. The Comfort Zone is the reddish area located between +2 and 2 stdev, where at least 95% of price occurrences should occur. This chart shows that the uptrend that started on June 16 failed to break above the +1 stdev line. The mean served as support and allowed a small bounce...