Hello 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.
The SandP pattern was reminding me of something, and I realized it was Under Armor. I would expect small flat like structure on 1HR to produce a nice sell to continue down.
The 11 year rise of US Indices had continuous higher lows. This trend is over and now appears that lower lows will appear at a faster frequency but at a similar trajectory in reverse.
Negative RSI Divergence indicates a strong bearish signal. RSI is currently at 53, the trend reversal will accelerate once RSI falls below 50.
Negative RSI Divergence indicates a strong bearish signal. RSI is currently at 58, the trend reversal will accelerate once RSI falls below 50.
SPX 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...
Just a quick correction of my last post :) Still in play Owen Concept of the Market
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...
Since we have taken a bullish reaction on this flag we can expect that S&P 500 will continue its upward direction.
Here's a chart I've been paying attention to, tracking the similarities between Feb and May. Truth is, in Feb this broke down. In May, it held and broke out. Not sure how high we'll go, but here's how I see short-term playing out.
Similar 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...
$SPX The breakdown has happened, and we held on the 50% fib level. Would expect to see a backtest of 2880 or so before we resume the descent.
Plus you have the 200 moving average in about the same spot right now on daily and 4hr, which is right above the high.
S&P or SPX We see them resuming to the upside, any changes we will update it as it goes , give this chart a like if you enjoying our forecast
We are def. at a critical area. I'm still leaning slightly on the bullish side. 3k is a good possibility if we bounce and stay within the upward channel. If support doesn't hold and we drop. I see us then re-testing the $2600 area. Hoping for the best, GL to all with trading.
Guys move your stop loss to entry !!
As you can see Tesla has had 2 parabolic run ups in a short period of time. I'm a Bull on a macro level and believe Tesla will be one of the biggest companies in the world. The hype machine needs a healthy pull back in order to rise at a realistic price in the future.
Hello traders. Are we due for another test of the bottom? Or will the reopening of the US economy rip through the 200 period ema. Time will tell, Live long and profit.