SPX reversed off our first resistance at 2956.0 (horizontal swing high resistance) where a strong drop might occur below this level pushing price down to our major support at 2856.0 (horizontal swing low support, 38.2% Fibonacci retracement , 100% Fibonacci extension ). Stochastic is also approaching support.
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After further analyzing the trend the S&P 500 continues to find support on this uptrend channel as well as the RSI on the Daily time frame. This leads me to believe that the S&P 500 is going to continue to rally higher. Next Target for me is 2992. This of course is negated if the upwards supporting trend line is broken on both the RSI and the price. Eventually we...
Bulls Bears it doesn't matter, I am bullish in the world economy, only way is up think about the 1920s... then the market crashed hard afterwards, would you like to repeat it? and reap the benefits? Stay on your toes fellas, but I think SP500 is about to break out.
The S&P has finally retraced back to the all-time highs! However, there are quite a few Bearish divergences forming in the chart which leads me to believe a larger correction is coming. This possible correction may lead to a potential inverse head and shoulder pattern which in return is Bullish for the macro trend. If we were to retrace back down to the.618 fib...
SPX has trended at a 57 degree angle since the 2008 financial crisis. While trend line theory suggests any stock above a 45 degree angle is troublesome, perhaps the SPX is an exception. However, the current trend we are witnessing is at a 67 degree angle, suggesting a significant pullback is warranted. Take this with the global fundamentals (slowing Europe,...
Last post: March 20th 2019. See chart.
Review: Price was at a level of support.
Update: Price has since bounced off that level of support and continued to move higher.
Conclusion: The next major area of resistance is the previous all-time high. If price can break this level then we should see big bullish moves in US stocks.
Any comments or questions, do...
Ive switched my position from bearish to bullish considering the FED delayed interest rate hikes until possibly next year. Possible target for this S&P index is mid $300's.
Forming an inverse Head and shoulders with a strong right shoulder compared to the left which is very bullish.
Intermediate - bullish (1 year)
Macro - bearish (3 -10 years)
The market has been roaring up since the december lows.
We are nearing huge resistance around $280's.
I believe we will surpass resistance only to come back down again and crash.
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Buy long term shorts around $284-$286 SPY.
Got the bounce kind of in no mans, or womans, land. Is it a C or a 3? will have to wait to C...see. Price action channel and an EW channel within to project the 4. Is the scary correction over? We will have to wait and 3...see...dammit.
Aloha, trader! Welcome back to another S&P update.
If you've been keeping up with our posts, I noted over the weekend that traders should be watching the S&P 500 index, on the brink of a crash. This week, that crash has been playing out, destroying the 2 month bullish rally we've been seeing. Today was a big day for the index, as it needed to beat possible...
Over the weekend I recommended looking into shorting the S&P 500 index, as it looks on the brink of a crash. Today, we can already see this breakdown taking place, as the index dropped nearly 11 points today, producing fair returns through SPXS (triple leveraged reverse index for the S&P 500 index). However, we must not assume that this drop reflects the...
Update on the S&P after calling for a reversal at the 200 Weekly Moving Average back in December. Now the S&P 500 has exceeded my expectations and broke above prior resistances pretty easily. For the bullish scenario, I would like to see the S&P 500 to maintain support above 2700 and consolidate sideways to then breakout to retest the 2800 level. Any break below...