Perfect Re-Test. Interesting enough CPI news pushed price up to the L-MLH and immediately rejected it. Thant's crazy, but it's no wonder. Allen Andrews Action/Reaction just works. Why? It's the law of nature. Newton exposed it, Allen Andrews brought it to the markets.
Megaphone Pattern & Overbought SPY could see $380 or lower
Here is the plan for the near term. Still looks like we are in the tail end of Intermediate wave 1 inside of Primary wave 5. Looks like we are in for big drops after the Fed meeting, but the inflation report may remain tame in the short-term. The estimated path for the rest of Primary wave 5 is here with the turnover occurring around US elections: Here is...
This is a SPY weekly chart after the Friday FED speech signaling continued hawkishness till inflation drops to 2%. Spy has a history of making bulltraps (higher highs on this weekly chart) before plunging as seen in my several boxes. It was rejected by the black downtrend line from the 476.44 ATH (see black falling wedge) & also rejected by the horizontal neckline...
This is just for fun , making almost the same path of 2008.
overbought stoch rsi and showing a bearish harmonic pattern, looking for a D leg sell off
The overall evaluation on the SP500 index has been in a monthly bearish trend that has always confirmed itself via a monthly resistance trendline rejection ever since the apex turning point of this index from January 2022. Please be cautious on your risk management as always. The projected lines of direction (white) are not random skittles, but was produced by my...
Last Friday right at the close you may recall I shorted the SP Futures via ES Options. At the time the SP Futures were 4274. I choose the 4400 strike AUG EOM contract as I had no Fibonacci areas of resistance at 4400 and by and large I'm conservative when shorting naked options. I received $825 per contract I sold (Short price was $16.50). I sold only 3...
After the P5 Low, we have a super nice count to the upside. Now we may have to face that the little party is over. Potential P5 is in and if it's true, we go down at least the the U-MLH. An opposite view is, that price will advance to the upside even more. If that's the case the potential to reach the second Warning-Line WL2 is baked in. The Stochastics faster...
The Pattern: Sometimes it's too obvious to call it a coincidence. The Pitchforks: And as you can see, knowing how to use a tool can help to make intelligent decisions in trading. The short time-frame: The Pendulum Swing: The Trade: What if the trade fails? What if this fractal pattern is not playing out as expected? Then it just was a trade. Trading...
Weekly outlook- bullish. 4hour trend; currently we seem to be on a bullish tear which seems to have started at 15th july 2022. I have set a sell stop at 4080 if we break that zone my target is 3959.3
1 - Looks like 4144 and 4140 double top - better seen on the ES1 FUTURES as a TRIPLE TOP 2 - Oscillators divergence BEARISH – Not supporting the new highs… 3 - Both tops are followed by Large engulfing RED CANDLES - better seen on the US500 4 - MACD – and RSI BEARISH signal 5 -VWAP - Held on the retracement BACK UP –Yesterday Fake Breakout above the VWAP 6 - FIB...
In my previous SP500 analysis I said that the index could rise above the 4k figure and reach the next important resistance zone and, indeed, after it broke above the falling trend line and the horizontal support it accelerated gains and reached my target. Now, although the rise from the recent bottom looks pretty bullish for the medium term, this 10% growth needs...
Hi, this idea is based on the analysis of XLP/SPY vs the SP500 for the last 2 bear markets. All information is on the chart.
Hello Traders, The sp500 index is supported by an inverted head and shoulders that can push prices to 4100 USD. FED rate hike will be 75bp ( or less ?) , I don't think 100bp today.
looks like with fomc around the corner we are most likely to retest our support zones mentioned in the chart. if you like the idea, like and follow for more.
I tried to study the drop on July 22nd to determine if there were 13 waves for a corrective Minor wave 4 or if there were 21 waves for the first wave 1 in Primary wave 5 down. I saw the former more than the latter. If this is true, my previous forecasts are only off by 3 days and the levels to which they finish will remain with the exception of the wave 4 to wave...
We are potentially in the early stages of Primary wave 5 in overall Cycle A of SuperCycle 2. SuperCycle 2 began shortly after the beginning of January this year as we are yet to revisit a new all-time high for the S&P 500 index. The wave number nomenclature for this wave being analyzed is 152A5. I may reference the end of this structure (2A5 or A5) when comparing...