The S&P500 has hit our first target a couple of days ago. Now the price is at the lower level of the resistance zone. This could mean that a correction is due. I believe that the resistance will be either broken or held at the end of the week. In this case, the most likely scenario is that the resistance will hold, and that we'll see lower prices for the...
The #SP500 diverged 61% from the trend it had referenced since 1940. When we look at such divergences in history, we see that the index has returned to the reference trend. The beginning of this reversal is usually confirmed by a close below the SMA9 on the 3-month timeframe. This level is currently displayed as $4174. In a possible bear scenario, EMA60 or...
For Thursday, 4444.50 can contain session strength, below which 4352.50 is likely intraday, 4257.50 in reach by the end of next week, where the market can bottom out on a weekly basis, possibly into later July. Upside Thursday, pushing/opening above 4444.50 signals 4462.50, while closing today above 4444.50 indicates 4503.50 within several days, able to...
The 4195.75 long-term support area can contain selling through the balance of the year, above which 4606.50 remains a 3 - 5 month objective, the 4808.25, January 2022 all-time high expected by the end of the year. On the way up, 4606.50 can contain monthly buying pressures, with a settlement above 4606.50 indicating the targeted 4808.25 within 3 - 5 weeks,...
The 4195.75 long-term support area can contain selling through the balance of the year, above which 4606.50 remains a 3 - 5 month objective, the 4808.25, January 2022 all-time high expected by the end of the year. On the way up, 4606.50 can contain monthly buying pressures, with a settlement above 4606.50 indicating the targeted 4808.25 within 3 - 5 weeks,...
For Friday, 4446.50 can contain selling through next week, above which 4603.25 remains 2 - 3 week objective. Upside Friday, 4509.00 can contain session strength, while closing above 4509.00 should yield 4603.25 by the end of next week, where the market can top out through July activity. Downside Friday, breaking/opening below 4446.50 allows 4395.50...
For Thursday, 4399.00 can contain intraday weakness, the targeted 4441.25 - 4446.50 area in reach and able to contain buying through the balance of June. Holding below 4441.25 allows 4203.75 long-term support by the end of July or sooner, while closing today above 4446.50 signals our 4600.00 longer-term objective over the next 2 - 3 weeks. Downside...
For Wednesday, 4402.50 can contain intraday weakness, the targeted 4436.00 - 4446.50 area in reach and able to contain buying through the balance of June, once tested the market susceptible to falling back to 4203.75 within 3 - 5 weeks. On the other hand, closing today above 4446.50 signals the 4596.50 longer-term objective over the next 2 - 3 weeks....
Range is very clean. It is very clear where the price will go. I hope you can see this. All ranges of this range worked sharply. While individual investors buy the break out, you can sell it. Have a nice one and good trading!
For Tuesday, 4348.75 can contain intraday weakness, 4385.00 in reach and able to contain intraday strength. Pushing/opening above 4385.00 allows 4409.00 intraday, able to contain session strength and the level to settle above for yielding the targeted 4430.50 formation tomorrow, where the market can top out into July activity. Downside Tuesday,...
The 4203.75 long-term resistance area can contain selling through the balance of the year, above which 4578.50 remains a 3 - 5 month objective, the 4808.25, January 2022 all-time high expected by the end of the year. On the way up, 4425.50 can contain weekly buying pressures, with a settlement above 4425.50 indicating 4578.50 within 3 - 5 weeks, able to...
I have been a staunch bear since about March. Since the lows expected a nice bounce but that we would resume the downtrend at some point. Nothing has convinced me that this market would not do anything besides have another period of pullbacks, until I inverted the QQQ today. From this perspective, I cannot help but see the very real possibility of a double top...
This idea is a correction to my previous count for the SPY since the break out of the accumulation range. I chose the "close" method for the point & figure chart and lost data as a consequence. The correct method is "high/low" which is shown in this count. Chart setup: - Daily, Traditional, 3 box reversal, High/Low (1 pt scale). The SPY is going much higher...
This idea is based on Wyckoff's method for calculating price targets using the point & figure method to count the difference in columns between beginning and end of accumulation prices and projecting it from the middle point of the accumulation range. All other info is on the chart!
From a technical point of view, the trend on intraday chart is bearish, but at the same time, after the completion of wave 5, I expect a very interesting technical rebound (wave 4 re-test). Trade with care! Like if my analysis is useful. Cheers!
The price is upward, which indicates that the trend is upward, so we will search for buying, and I have placed the buying or selling points, in the event that the price breaks the level that was talked about, in order to know more about what the price might do, and I analyzed it in a technical and rational way . In the case of buying, we will wait for our order...
S&P500 weekly is uptrend now but have weak trend and volatility. Maybe it will reversal in near future.