There is nothing bullish about the S&p500..... We got rejected by .382 . stop loss should be placed by the .5 level
If this is possible, then expect a few days upwards before a final wave down for the 5th
As 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...
Can You See That Negative Divergence? ( When two or more indicators, indexes, or averages, fail to show confirming trends. A negative Divergence occurs when a price index is making a higher top at the same time a technical indicator is flat or making a lower top. ) TP 1: 2600 TP 2: 2500 TP 3: 2400 Good Luck!
Descending broadening wedge formation observed, or what I like to call it as- Muh Tasty Megaphone Price should blow out of it tomorrow, keep an eye for breakout :)
SPX500 traded into the 4 hour bullish orderblock and finding support over there, we can see a nice push up to squeeze bottom shorters out. Expecting a retrace to .705 fib in the chart
See what I mean about the candlestick action before past declines? Refer to my last SandP 500 chart for what I was saying.
Ok, 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...
Hello 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...
i am expecting this to go down . there is every chance it could go back up so be carefull
The S&P 500 may still to continue it 4th wave correction as showing the chart. It may drop back to 2720 area for consolidation before resuming final 5th wave to achieve a historical all time high to set the stage for major painful crash.
What is gonna happen next :thonk:
if the opening continues to fall we could be in for a 20+ point drop into next week? JMHO
SPX is getting to a critical spot. That is what I would like to see it do (ending diagonal). But regardless, a lot of divergence coming in as it seems to be in a running flat as I mentioned before. A spike into that zone (27% extension-3000 level) might be a place to try a tight entry on a short.
Ralph 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...