It appears that the S&P500 (futures, ES1!) decisively broke down a long time support that dates back to May 2020.
It is also below the 55EMA, and MACD with other technicals are downward biased, indicating a lower target than the recent lows.
Possible target of 4280 from now to end Feb.
Weekly (MACD) indicator turned bearish... particularly with a Bearish Engulfing candlestiak pattern right at the top.
Daily Indicators are already bearish, while the price failed a breakout (of a range) and fell back in, suggesting a brreakdown on the opposing side. This week would test the daily 55EMA for sure; and perhaps a small bounce to the top of the range...
ES1! SPX500USD 2022 Jan 10 Week
Rejection at 4743 short worked well last week.
Short on retracement preferred
Weekly: Average volume down bar closing near low = weakness
Daily: Average volume down bar closing off low. Some demand is
H4: Very high volume down bar followed by lower close bar = weakness
ES1! SPX500USD 2022 Jan 03 Week
If 4743 is support, breakout of previous rotation is confirmed. Intraday long
If rejection at 4743 market may test lower levels, intraday short preferred.
Weekly: Low volume up bar closing in middle = undecisive
Daily: Upthrust followed by down bar = weakness.
H4: Very high volume down bar, but no lower low forrmed,...
In this video:
* We must review the stock market indexes and sentiment in order to accurately gauge our crypto space
* Overall, nothing has changed. Still bearish!
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ES1! SPX500USD 2021 Dec 06 Week
Down channel trade was good. Market recovered on Friday to close up on
high volume off its high (H4). Some support has returned. 4492 looked like
a strong support at the moment. If there is indeed acceptance, we may
have a temporary long opportunity. However do note market is still
within down channel, so take profit on your...
As forewarned, the Leading Indicators were previously pointing to a burn out, and now half of the leads are burnt.
JNK and VALUG are bearish, as are TLT and VIX indicating bearishness.
IWM, TIPS, and DJT have failed any bullish indication, skewing towards bearishness.
The S&P500 futures are at support now... likely to break down, even for the beginning of a...
Looks like the S&P500 should be running out of steam soon, based on the panel of leading indicators which most are about turning.
JNK just about broke down and topped out a pattern.
Russell2000 and the broad market Value Line failed a breakout.
VIX and TLT are about to break out.
The ES futures weekly chart have indecisive candlesticks for the past two...
ES1! SPX500USD 2021 Nov 15 Week
Short from 4674 was good, followed by spring from the demand line of the
Market rebound from demand line of channel back into the possibility to test 4712.
Weekly: Average volume down bar closing off high = weakness. Wait and see if
weakness will flow over to lower time frame.
Daily: Average volume up bar...
ES1! SPX500USD 2021 Nov 08 Week
4590 was supported and long was fruitful.
A reversal patten has formed on H4. If 4674 becomes
resistance, we may see test of the lower levels.
Weekly: Average volume up bar closing off high = weakness
Daily: High volume up bar closing off high = weakness.
H4: Climatic down bar closing off low = strength.
4674 if broken,...
ES1! SPX500USD 2021 Nov 01 Week
Short from test and reject 4590 and
Long on test and accept of 4552 was good.
Wait and see if H4's ultra high volume is bullish absorption.
Price may return to test the 2nd last bar, and if support is found,
it is a long opportunity.
Weekly: Higher volume narrower spread up...
ES1! SPX500USD 2021 Oct 25 Week
Market went up on narrow spreads, made new high and a UHV
ultra wide spread bar took out the previous 6 bars' low.
This is weakness. If market moves up on tiny spread and lower
volume, this is no demand, don't get trapped in long positions, or
tighten stops if long.
Weekly: Low volume up bar closing off high = Weakness....
ES1! SPX500USD 2021 Oct 18 Week
Don't chase long. Wait for price to return to test lower levels and
find acceptance to long.
Weekly: Low volume up bar = Weakness.
Caution and keep stops tight if long
Daily: Narrowing spread, low volume up bar
as price approaches previous resistance = weakness. Tighten stops
Have to give it to the S&P500 to turn bullish over the last two days. Had earlier highlighted the daily chart bullish indicators and the worst case intra day based scenario. Clearly the Daily chart trend prevails and more upside should follow to the end of the month.
This was not expected, but clearly turned bullish, especially after a nice long bullish candle is...
Investors have always regarded the US500 as some sort of safe haven, with a common consensus that the S&P500 never fails to meat their profit expectations by breaking the records each month. However, this index has been suffering now for many weeks making many dips with lower rejections on the non horizontal resistance. For instance, technical analysis now can...
SPY: Using Elliot Wave Theory, predicting a move to 4.30 seems likely.
~RSI has room to go to 430, so it is not out of the question of possibility
~The VI looked like it was about to switch momentum to bullish, but the red line is starting to curve back upwards giving the question is it really a reversal to bullish yet?
~Using Elliot Wave theory's 5 part wave we...