SPX still looking very weak, which is quite logical with COVID cases rising dramatically in the US!
It is very likely heading to the 2200 region (slowly & controlled), the corona financial impact is no joke..
As momentum seems to be slowing, it looks like distribution could potentially be forming. I Will be setting limit orders at this zone as any higher and I'd start to think that all time highs would follow. As world economies crumble it's hard not to be short biased and if that first initial crash in March was just a teaser for what is to come I'd expect a rejection...
1. Significant rally followed by decline
2. Downward trend resumes first week of April
3. Sideways ranging market (no clear trend)
#1 seems the most likely imo. Why?
Fundamental: pensions allocating from equities from bonds soon. Also millions will be infected with Rona in U.S.
Technical: bounce of 50 rsi and MA's
Unemployment will hit 8-9%. Say goodbye to...
All things come to an end. GM laying off employees, companies cutting back resources, media keeping news of real estate foreclosures quiet. It's time to wake up. This is a good visual of what's happening in the macro markets.
Wyckoff labelled and Gann notable date coming up.
Germany the 4th largest economy is about to go into a recession, UK collapsing on the face of the Brexit, France government at the edge of destruction, Italy is bankrupt, Greece is bankrupt, China could very well be in a recession as we speak, Venezuela is in turmoil, Honduras, Guatemala, Argentina and many other south American countries are bankrupt. The USA now...
My original idea I published on Christmas day seems to be playing out almost perfectly...
but the amount of short interest i'm seeing has me concerned about a short squeeze
I will be sticking to my original idea with a slight stop loss adjustment
I've compiled a few charts I've posted in the past year warning about the economic reality of the times we're in now. My predictions we're pretty accurate up to this point, and I see no reason for it to change. Contrary the evidence for an imminent reccesion only keeps piling up. The front end of the yield curve has started to invert with the 2 year...
The good traders never get famous. They're lone wolves. They won't give you what you want because being a good trader requires peak IDGAFness.
What you want is 8 meticulously detailed and data intensive paragraphs about why the stock market is going down 53% from the ATH and how you could have know that back in October. But you actually don't need to know...
This chart looks at the trend all the way back from the great depression in 1930's.
Now I've put arrows where the resistance and support levels are and marked the RSI divergence similarities between all the recent market topping patterns beginning from 1987 then 2000 then 2008 and now in 2018.
The 2000 market topping was extremely prolonged but the divergence is...