Across the board we have seen several stocks and index's lose important support levels at the end of 2018 after a big run up of 60% over the last 3 years (bottom of wave 4). For an example here on the SP index: Wave 3 hit just over a 1 to 1 Fibonacci extension before Wave 4 came down in an ABC. Sub wave 3 of the overall 5 then hits a 1.618 Fibonacci extension...
This is just a short-term long position for the SNP, if you are a swing trader then there is a possibility we may bounce in January and continue back down on February. I am basing this on the fib extension of 1.618 and the .236 Support level. Things could go alot lower as bearish momentum almost always moves faster than bullish momentum when it comes to the SNP...
NOT TRADE IDEA Possible Elliot waves count for EDUCATION ONLY
Its a great example how perfect Fibonacci time and price extensions work together. Price moves after Fibonacci ratios also in time sequence, not only at price levels. Fibonacci time extension work perfect with oscillators like stochastics. Here I used modified Ichimoku settings (doubled ones).
I am predicting it will drop down to the green area and rebound upwards. I made this using #Gann angles and #Ichimoku graphing. I made this on August 9th 2018 at 4:10 P.M.
This update contains some minor changes in markup. The initial Idea stays the same. I expect to see new low (but no lower than 9.90) which is needed for wave (((B))) to be completed. If the market crosses up the "critical point" then this scenario will be compromised. P.S. Please do not be confused. This is not pure Elliott Wave Analysis. This analysis is based...
The wave 4, most probably, is not finished yet. This markup confirms my expectations regarding the end of the long-term bull market in US. P.S. Please do not be confused. This is not pure Elliott Wave Analysis. This analysis is based on my fork of Elliot theory. The simplified concept of this fork is published here: plus.google.com
During the Bull Market in Intermediate 3, Nasdaq was my favorite because of its Wave Count, hence the reason for the successful view on the NASDAQ100 – Bullish Minor 5 - Bulls Come-Back article. US Indices synchronized their individual Bearish legs once they reached the tops back on the 2nd of Jan. Same day, right before the sell-off began, I posted the CBOE...
since we've been so crazy overbought, it stands to reason we'll have a pretty large retracement if things surprise to the downside. if that happens, i envision this scenario... hopefully i'm wrong. If we take prior drawdowns in consideration, a 30-50% move would bring us pretty close to these figures.
SPX lost momentum over the holiday trading week and it starts 2017 below the Fast daily MA line. RSI momentum is bearish and 3 bearish Price Action patterns were triggered. This week is Jobs week. We may see pullback higher to re-test the MA line (as resistance) or even a double top. First bearish opportunity in 2017 Focus Zone - 2250-2260
Source: ArmstrongEconomics.com COMMENT: Congratulations Marty. We closed out the year less than one point away from your maximum (Tech 3) SPX 2016 target of 2239.8038 that your computer established on January 1st, 2016. That’s impressive. I never thought we’d see that number back in January or February, but fortunately your computer harbors no emotion and no...
**** SPY ELECTION 15 MIN CHART****** LOWER LIMIT SUB $208 Upper limit max $212 Solid Yellow line is the new resistance line. Green solid line will act as new support. Blue horizontal line is election day. In election day or pre/post we are expecting swing both upside and down side. But heavy on short side 60% and 40% upside. Swings will take place on both side...
QQQ HOURLY CHART ELETION UPDATE: Upper limit is $119.72 and lower limit is 109.12. Unlike SPY QQQ is very strong and doesn't show weakness sign yet in the price chart but technical are weak though. Need good options strategy heavy on the short side and less on the bull side. But looks like it will move either way in pre/post election days.
We saw price broke below the consolidation pattern last week, but price seems to be supported and rejected off the previous support level at 2115 as analysed last week. Similar to last week analysis, as long as this support is not broken, our bias remain bullish on SnP.
*****4 hours chart****** ======================================= if Todays S&p price closes below the greean line then we can say with confirmation that S&P OR SPY is in Bear market for sure. That Green line is made of 2016 Feb low and 2016 June low. It is going to act as a resistance line from now on.
******DAILY CHART ONLY****** ============================ S&P BROKE SUPPORT. WE CAN GO SHORT NOW FULLY LOADED. The RED RESISTANCE LINE WAS CREATED FROM 2 TOPS: ONE FROM 2015 MAY HIGH AROUND 2134 AND TOUCHING 2016 AUG HIGH AROUND 2190. The green line STARTED FROM 2016 FEB LOW AORUND 1810 AND IT TOUCHED THE NEXT LOW OF 2016 JUNE AOURND 1990. BUT Todays OCTOBER 13...