There are 2 parallel line/CHANNELS.
1) RED line & Light GREEN line . (SOLID)
2) ORANGE line & Deep GREEN line. (DOTTED)
NASDAQ broke the number 1 CHANNEL even though it made a all time high.
In next few days/weeks It will break the 2nd dotted CHANNEL. Which may or may not create a new high but people will thinks it's a buy time. Honestly it's proving that...
Nothing has changed much for last week. Price continued to be in a consolidation phase. With the Fed not raising interest rate, we are expecting the SnP to rally further from here. Price has to break above the previous high at 2194 for a confirmed bullish trend. And as long as price remains above 2120 support, we remains bullish on the S&P.
QQQ IS DOING GOOD BUT UT DIDN'T BREAK THE 2000 yr high yet. Well even if do so but in coming months it will be a choppy trade as the RED line will act as resistance and the green line will act as a temporary support. And then the Black line will act as a temporary support. After that all hell will loose break. the next support line is the deep blue line. But it...
QQQ IS DOING GOOD BUT UT DIDN'T BREAK THE 2000 yr high yet. Well even if do so but in coming months it will be a choppy trade as the RED line will act as resistance and the green line will act as a temporary support. And then the Black line will act as a temporary support. After that all hell will loose break. the next support line is the deep blue line. But it...
SPY TRADING IN RANGE BUT IF BREAK BLACK SUPPORT LINE THEN BEAR MARKET. The RED AND GREEN DOTTED LINES ARE FOR NOW A PROBABLE TRADING CHANNELS. There is a second black line at the top and that is the ultimate resistance line and if breaks then new high possible. But for now we can expect a choppy volatile trade till it break either black lines. good strategy for...
The VIX index shows us that the smart money actively bought the dip from the Sept. 12th, to yesterday's high.
This range gives us a long lasting support/resistance level that the market will acknowledge in the future, and that can serve as guidance for us as well. If we see a breakout from here onwards, and we manage to stay above this range, upside is highly...
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...
Es is very far away monthly demand zone (1959.25-1794.75) but inside of a weekly supply zone (2105.25-2079.75). However it just created a daily original demand zone at 2091.75-2073.50.
In these conditons, we are inside of a weekly zone where previously sellers had their strenght but the daily original demand zone may give us a difficulty going downard.
We can...
THE END OF THE 2ND BAT / W?
- .786 fib retracement from our highs since the 225 tick move down in August (2116.75)
- Top of our "tidy channel"
- Smaller green candles each rising day shows weakning momentum, doji showing indecision
- Loads of price action between 2100 and 1800:
- As of now, short at the top of this channel, long at the bottom, unbiased in the...
Just thought I'd post this to see what you guys think, I think we should see this finalize in the 2040 area, with the highest potential of 2050 as a massive short squeeze . . . share your thoughts and charts, happy trading!
IN OUR PREVIOUS IDEA ON SNP WE STATED THAT THE INDEX CANCELLED DOWNWARD RISK, AS IT TRADED ABOVE 1ST STANDARD DEVIATIONS FROM 1-YEAR AND QUARTERLY MEAN AT ABOUT 197
HOWEVER, MARKET PROVED US WRONG!
PRICE HAS FALLEN BACK BELOW THE KEY LEVELS, THUS IS NOW OPEN TO MORE DOWNSIDE
AT THIS STAGE WE CAN ONLY CONCLUDE THAT THE TRUE CANCELLATION OF DOWNWARD RISK WILL BE...
S&P 500 closed today above key level, which is the downtrend border in relation to 1-year and quarterly mean.
The level is the lower 1st standard deviation from 1-year and quarterly means aligned, now standing at 197.5
The close above cancels downward risk that was initiated during late August selloff - and if price trades above it from now on - it will likely...
On technical basis, SPY (The S&P500 ETF) has broken down below 1st standard deviation from quarterly mean (66 days), while also breaking below 1 year mean (264 days).
The price has now entered a downtrend on quarterly basis, and will continue to fall if price stays below 1st standard deviation from quarterly mean (207.1) Closest target is the lower 1st st...
The S&P500 stock index is likely to hold its lateral uptrend, which started back in the beginning of 2013, when the "Fiscal Cliff" debate between the White House and the US Congress was resolved in a positive way. The event also marked an "official" end of consequences of 2008-2009 financial meltdown, eventually sending key stock indices above their 2007 peaks.
...
![SPX: S&P [10th - 14th October]](https://s3.tradingview.com/r/RYgPXHUh_mid.png "S&P [10th - 14th October]")
