If you can see this happening in real time, which comes with practice, but it does come, you can bag predictable market behavior like this. Believe it.
The S&P500 (SPY) has been uptrending in price, on daily and weekly charts (2021). Current price is testing the upper Trendline Resistance line. Bullish scenario: -SPY price breaks up above trendline resistance to test new all-time-highs. -Resistance price targets: $453.38, $457.40, $463.83. Bearish scenario: -SPY price pulls back down to horizontal or...
Looks like it's building steam for a breakout, no? Well, sorry to tell you but this is the S&P 500 upside down.
Sell when people are euphoric, bought when there is blood on the street. Analysis : - Bearish divergence - Bullish channel - if we break the bottom, confirmation of the bear trend - - RSI -> overbought - Top of the yellow canal has been broken - the last time it was before the crisis of 2000 -
I have been continue to monitor this chart for several months and called a SEP/OCT break up or down. It has broken down officially. This is where things get interesting. I will be waiting for next weeks open to confirm a continuation of the move before I am 100% sure. But this isn't looking good for the large cap companies.
This line of resitance has held up for 10 years. I wouldnt expect to see it be broken now. Given all that is going on in the world along with the Evergrande situation.... I think it's safe to say we've reached the top.
Pop up for a higher wave C to a downside wave 3? LMK your thoughts
I see the correction that is happening, to me price has just not settled deep enough. We will see what is happening. I have a demo/paper trade showing, illustration purposes. Manage risk and read the charts.
Things are looking very similar to how they did in October 2018. > In 2018 FAAMG fell by 25%. > If we correct 25% like we did in 2018, it would take us to the lower support of this ascending channel. > A 25% correction would also take us perfectly to the 100-week MA. > Bearish divergences are shaping up in similar ways as well. It's interesting to note the...
Nice third wave extension, Looks like an ending diagonal expecting a breakout on the lower trend line with a bigger correction, massive bearish divergence.
should get some movement on the fed announcement. My guess would be the reaction is downward, but I'm not going to be trading it so I don't really have any right to host an opinion.
strong rally to open. waiting for selling to resume. maybe it doesn't. this correction has been a long time coming. I would be surprised if bulls hold on.
The buy backs on the main market indices have been interesting to watch lately, both the S&P500 and the DJI have had some sharp sell offs from our ridiculous highs, only to be met with extremely strong buy backs the following day almost making it easy picking for a top up on your position. I had an interesting discussion with a mate of mine last night throwing...
18 Months after COVID-19 surfaced, the world's economy is on its knees. We are looking at inflation close to the levels we had seen in the 2008/09 crisis. It must be made clear that some of the projected inflation shows we are not in too much trouble - Inflation in the US has shown the highest reading since 2008 - other indexes like the CPI ( Consumer price Index...
SPY racing to 450. Tom Lee has always been bullish about the market. In the first quarter of 2021, he has been bullish about the market going to 4500 in the S&P. Everyone was calling him nuts. Now its coming to fruition. Fridays close was extremely bullish with no sellers in sight.
Execute Market buy on EURNZD. Gold is dropping fast while US stocks rise from a dip. Descent management and a closed conservative exit on half the position should lock in profits. Good ratio with almost 2:1 win/loss ratio.
Looking to see a collapse from this point. Ideally, the price should come back to mitigate some of the losing positions as well as capture liquidity from the low.
The S&P 500 has broken down to trendline support after a failed breakout at 4240. The SPY index formed a high at 4238 and tried to break it at 4255, but failed to hold above that alltimehigh. It is now testing trendline support, and the question is whether price will bounce here at support or will support fail to hold and thus lead to a much larger...