The S&P500 is trapped in a fairly tight range, between 2830 and 2960, we are currently mid range. Short-term traders can trade the range, while more longer term investors can wait for the break …. Look to buy the SPY ETF near the 2930 bottom of the channel, or use the inverse ProShares Short S&P500 ETF (SH) to get short at the top of the channel (2950)
IWM has been the spy's faithful partner up chart since 2009. This run is different. I think we may be destined for failure.. until iwm can muster the strength to breaks its trend. Suppose there's 2 possibilities here. either spy's gonna retreat, or iwm needs to make up some ground.. has a large distance to make a new high. Given circumstances i think retreat...
Heres some interesting spots on chart. xlf been lagging. similar to iwm.. which looked to be backing out of similar resistance zones. May pickup some puts to add to my rally for nothing hedge.. Keep waiting to hear why we're back up here. fed rate that never changed? trump deals that never get made? earnings revisions everywhere.. so much debt.. etc Seems...
Market loves it when trump claims a victory.. but how many times will we fall for same news? Last time the tweet news did not make sustainable rally. seems like nothing new here. Why would we break highs and continue up? Maybe.. There's some lines showing possible lack of confidence. We'll see how the cpu's play it. Trying to keep stance balanced. But im...
Heres a trend that may continue? Not sure I see a reason to break out to upside? Not sure what china will do as retaliation, but I imagine market wont think of it as a reason to rally back to highs.. but who knows, been wrong many times before. Why this forecast will ultimately prove to be incorrect: Im around 90% that monday, if market starts falling, we'll be...
Testing my weekly model - SH weeklly shows a buy here so thus a peak in markets if testing goes as planned brschultz
Not insignificant resistance: daily cloud, as well as daily 50ma and 200ma directing price downward. Current up channel dates back to 2017. Down channel from the ATH.
In my perception price of gold will keep falling. Please check my previous idea for gold.
I reccomend purchasing $SPY puts, and/or going long SH at market open tomorrow. We can use a stop loss at 38.36, which is rather tight but safe, and go short risking 0.5-1% of the account. All in all, the range expansion validation target failed to confirm the bullish momentum in SPX, so I'm inclined to revert back to shorting it. We might be soon to validate the...
Key support to watch is going to be $199 if it breaks that then it will be heading much lower. My guess is the next support level will be around $187. The floor has been $187 so far and I will have a order ready to trigger for that. Just be cautious this could tern into a true bear market very fast.
Once the currency pair CAD/JPY retraces into the 85,76 level the bearish bat pattern will be completed and so the opportunity to short the market. This setup contains two fibonacci based target points and a stop loss point at the 1.08 extension of XA.