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Sandp500

Powell and trade war truce may shorten correction $ERX $TQQQAs described in my previous note on the S&P 500, there have been two major market corrections since the end of the Great Recession. They were periods of high volatility and a lot of repricing of stocks for 140 days or more. In both cases they started with: 1. A complete reset of the daily RSI ( Relative Strength Index below 20) 2. The S&P 500 holds below the 200 day MA 3. The 50bar EMA passes below the 100bar EMA They end when: 1. The S&P 500 0.54% holds above the 200 day MA 2. The daily RSI holds above 50 3. The 50bar EMA passes above the 100bar EMA The daily RSI is currently above the trend-line and above 50. The S&P 500 today will open above the 200 day MA and the 50 day EMA should cross above the 100 day EMA within three weeks assuming this new trend continues through Christmas. When I recently posted on this topic I said "Consumer confidence is high but the only way for this ship to turn around quick is for the Fed to change strategy, that will not happen." It now looks like it may happen. Additionally, Trump and Xi struck a 90 day trade war truce. Tech and energy sectors are the most beat up in recent weeks, all of these developments are bullish for these two sectors. Trade opportunities should present them selves in TQQQ and ERX .
SP:SPXLong
by blloyd
2
SandP500- strictly technicalOk, try to stay with me here.... If we look at SandP in plain old Elliot wave, I see 2 possibilities.... Either all hell breaks loose and it just drops to the 23-38% fib levels and into a wave 4 correction, OR... it will rally again in the form of an ending diagonal considering we should be on wave 5 of a larger degree wave 3. What I find interesting is that if I slide the fib retrace from the high it just made up to the up to the 1.618 extension (white line, typical for a wave 3), the 23% fib retrace slides up and lines up perfectly with the trend fibonacci from beginning of time through the wave patterns (it should anyway, 1.236 extension). The 3000 level should be of some significance also. If you look at past market declines, you can see some higher time frame candlestick action occurring beforehand. It can break the fork and make some kind of smaller flat pattern also before continuing up. I just feel like Donald Trump has been well aware of the math of the market and does not want to be known as a President who had a market crash, considering his wallet and ego.
SP:SPX
by thillygoosth
Pretty confident we are entering a bear marketHello all, I have been saying the US stock market is going to crash for about a year now, and well, it looks like I might be right. The significance of my moving averages is due to the fact that they represent 1 year, half a year, and a quarter of a year. You'll notice the year held in the last dip, but has not this time. This is a bearish signal. In addition to this, we are entering into muddy trade waters as per Trump and interest rates are high. I would strongly suggest not being in the SPX or any large US index right now. We might face a serious deleveraging/depression. I am ready to leave the country if need be. Hope we all survive :) Godspeed. -YoungShkreli
SP:SPXShort
by CantorTechnologies
10
SPXRalph Elliot speaking from beyond the grave.... Typically speaking, wave 4 retraces 23-38%. We are on an extended wave 5 of wave 3. Those 2 rectangles are measurements: 1.618 x wave 1, 2.618 x wave 1. Wave 3 typically terminates around 1.618 wave 1 (watch that 3000 area. It may not even reach it, but if it did and hit the top of the 2.618 box, that's a sell all day. I could go down to the last wave and explain it better but you guys, but you don't pay me enough... Just kidding, I'm lazy. Commodities are down. Look at Silver, Platinum, Natural Gas even. If stock market goes into wave 4 retrace, money will be moved to safer investments perhaps. In fact, I feel that I have pretty much all markets sewn up at this point.
SP:SPX
by thillygoosth
5