#SPX S&P 500 PreMarket 7/8/2020... Structurally Driven by 31503150 major structural & psychological price level in play here this morning
gonna monitor PA & newsflow going into the NYSE open in a couple hours
bullish only above 3161 into 3170 then evaluate there
short term market structure is still down for the time being and I'd favor shorts below 3150-3145 zone into 3130 -
Trade Safe
Blessings
Sandp500
#SPX500 S&P / SPX 500 1HR - Below 3170, into 3160/50 (Intraday)
Market structure / QP Pivots / Profit Targets Marked
Invalid above 3180 (swing SL) / 3177 day trade invalidation SL to improve the RRR for intraday targets
Healthy below 3170 into 3160/3165 (target 1 would depend on your RRR)
3150 target 2
Writing this 1:45-2PM EST NY Session Tuesday, 7/7/2020 (waiting to see if the 2:15 PM candle will close below 3170 to get some sell pressure into the NYSE close in a couple hours)
Gold approaching 1800 ;)
SPX500USD - Rejected at 3150 againSPX500USD was rejected at 3150 resistance once again. I think if the next 2h candle will turn red, it can be a good idea to short it. Otherwise short on another test of 3150 looks reasonable. Maybe it will break it this time, but historically R:R is good here
Hit the "LIKE" button and follow to support, thank you.
Information is just for educational purposes, never financial advice. Always do your own research.
SPX Topped Out? Channel Neckline Breached | Bearish PA Todays analysis – SPX – breaking bearish from its long-lived multi-month ascending channel
Points to consider:
- Channel support breached
- Testing daily support and 200 DMA
- Bearish price action
- RSI breaking below 50
- Stochastics oversold
SPX needs a daily body candle close below channel support for a bearish bias in the market.
Currently retesting daily support, in confluence with the 200 MA where price previously held support. However a weak bounce, forming multiple bearish engulfing candles, price is likely to break down further.
Breaking below $2960 will form a technical lower low and an S/R flip at daily support confirms a trend reversal, solidifying the bearish bias.
RSI has broken below 50, indicative of increasing weakness in the market. Stochastics are oversold and may remain oversold for some time.
Overall, in my opinion, further price development is likely to confirm trend reversal as price retraces lower from these levels, validating structural support as the next technical target.
What are your thoughts? Let me know in the comments below!
And if you’ve read this far - thank you for following my work!
As always,
Focus on you, and the money will too!
SandP revised- This is what it will doWhen I look at our divergences and moving averages, I have to assume the SandP is not finished yet. The other scenario I posted is possible, but when you look back like I did, u see that every time the SandP is in this position it crawls up. Due to the wave count, I would expect the move up to be part of a flat correction....
SandP500- this week's predictionI expect SandP to break the low, then pull up and make a similar type pattern it just made, then we get the larger move down. I'm analyzing 100's of patterns today in order to predict exactly how deep this correction will be. I think I know but want to be more sure. I will make the greatest trading video ever made this weekend.
E-mini S&P500 intradayHello traders,
The E-Mini S&P500 future has marked a high volume with that special candle. We expect an increasing trend right now. It will try to increase in order to reach the resistance R0. If it breaks R0 it will try to reach R1.
But if it can’t reach R0, we should wait that first red volume and candle to sell and take profit.
Trade Reversal Pattern - Evening Star - S&P 500Here is an educational idea. Please do not consider this as a trade idea unless you consider market sentiment and fundamentals that go along with this technical analysis. Trading solely on technical analysis (such as this trade pattern) can turn out to be costly.
s&p 500 with -50% crush at 1500 till end of the 2020SPX crushes never stopped above MA 200.
Even FED pump of 3 trillion into market, buying even stocks of companies that are in bankruptcy, would be over.
Earlier or later the crush of -50% will happen as of people will need to sell something to pay bills - already 20% unemployed, 30% not paying rent or mortgage bills in time.
As long FED pumps money to keep the dead market breathing as hard would it be when the market will awaken.
In 1929 it was the speculators who pumped the market 4 times from 7 to 30 and it crushed below 7.
S&P 500 Next 8 Years Targets (12,6,2,5,1 Fractal Analysis) S&P 500 has followed what I call a 12,6,2,5,1 Pattern. The price rallied at the beginning of 1982 and completed an N Rally after 12 years reaching a price target of 480. After that, it began an A Rally to reach a price target of 1531 in 6 years. This was followed by a corrective phase of 2 years. It was followed by an Inert Rally of 5 years (shown in blue) which drove the price back to where it fell from. After than began the steep correction of 1 year which dragged the price to 685. That marked the completion of my 12,6,2,5,1 pattern.
N Rally to 3126 (Oct 2020)
My 12,6,2,5,1 pattern took a new start at the beginning of Oct 2008. We are currently in an N Rally with a projected 355% price rally to reach a target of 3126 by Oct 2020. Theoretical Explanation: The market has heated up significantly. The introduction of cryptocurrencies has provided investors with new opportunities. A sluggish N Rally towards 2020 shows ample confidence in the market but stock market interest seems to be fading.
A Rally to 9952 (Oct 2026)
After the beginning of the N rally, the price will start to rally more aggressively to complete an A Rally by Oct 2026 with a 218% price surge to reach a target of 9952. Theoretical Explanation: By the end of the N Rally of 2020, many investors would have focused their attention on cryptocurrencies. Some blockchain projects would have become large corporations by now and would be a part of the stock market. Traditional investors will be able to invest in Bitcoin and other useful cryptocurrencies same as they would in Google, Exxon or Proctor and Gamble. Blockchain companies now being a part of the stock market will give S&P 500 another boost to reach a target of 9952 by Oct 2026.
Post N and A Rally Situation:
The market will heat up again as speculation makes prices of blockchain companies (now listed on NYSE) to skyrocket. This will result in another correction. The price will continue to follow the 12,6,2,5,1 pattern.
Important Observations:
12,6,2,5,1 One was about the Internet (Dot Com Boom)
12,6,2,5,1 Two is about the Blockchain (Crypto Boom)
We'll have to see what 12,6,2,5,1 Three is about.
S&P 500Since we have taken a bullish reaction on this flag we can expect that S&P 500 will continue its upward direction.
US Markets Maintain Gravity Defying Despite Current World EventsSimilar write up to last week much remains the same until S&P and Dow Break previous highs (S&P above 2900 / DJI above 24600)
S&P: If P action in the next week closes below the orange line at 2723.3 attention will turn more bearish and watch for market to fall to 2460.2. In this instance will reassess market dynamics as it may bounce in this range or continue to fall
Dow: The same flows for Dow Jones with P action in the next week close below the orange line at 22931.5 attention will turn more bearish and watch for market to fall to 20842.4. In this instance will reassess market dynamics as it may bounce in this range or continue to fall
If markets stay above these initial levels for the next 3 months (i’ll be surprised) however this will look like economies are back in order from COVID-19 and running ‘normal economics’
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