My very short term view: 15min candles - we are in the last 5th minor wave of bigger C corrective wave - fib 0,618 is at 2930 - till end ot this week (17-4-2020) the top of the correction...or call it bear market rally should be in (if not..and we close for 3 days in a row above 2930, then something else is going on and this view has to be corrected)
Even though it's typical to see bear rallies in bear markets since nothing shoots down in a straight line forever, there are technical reasons why this week will likely be red for the SPX500. First let's talk about the declining volume while the price is violently rallying. This divergence between volume and price cannot be ignored. We also have the hidden...
The S&P 500 massive decline and the subsequent rally makes Elliot Wave sense. The coronavirus 35% sell-off was a classic five-wave EW impulse pattern. According to the theory, this implies that at least a three-wave correction should be expected. In SPX's case, the 28% rally that follows the decline is in three-wave so far and taking the shape of an a-b-c...
With a 40% drop from the end of February, SP500 is in a clear downtrend. After reaching a low of 2200, the index rose and is now entered a strong sell zone that extends to 2900. I expect the correction to be over soon and a new leg down could follow. I favor sell trades as long as the price is under 2900.
Technically speaking, yesterday S&P500 closed with a shooting star candlestick pattern on daily chart, which was a warning signal for bulls... ...today the market continues going higher and it might produce better price to short the equity market. The COVID-19 pandemic is still out there killing people and lot's of industries (e.g. airlines, hotels or cruise...
~3000 is great short term sell opportunity Be careful bearish bias. This is just my thought about wild market movements. Price can never be predictable.
Previous Close: 2663 Top range: 2733 Bottom Range: 2409 Bias: Short 12:50:40 (UTC) Tue Apr 7, 2020
Good Day Traders! Congrats to those who made money following our calls! 💰💰💰 Simply following us and we will get you guys our latest updates FOR FREE! Go to the link below & hit the " FOLLOW " button right now ! 👉 www.tradingview.com 👉 www.tradingview.com 👉 www.tradingview.com We have been stop out on SP500 for quite few times. So we have decided to wait and...
Hello friends, Hope this find you well... As things are heating up with the RONA. :) People suggest that we have seen the bottom already. I beg to differ, there will be two more waves to the bottom. My idea is the bottom is the circled area on the chart. Happy trading friends. Disclaimer - This NOT financial advice, just chart speculation.
Good Day Traders! Congrats to those who made money following our calls! 💰💰💰 Simply following us and we will get you guys our latest updates FOR FREE! Go to the link below & hit the " FOLLOW " button right now ! 👉 www.tradingview.com 👉 www.tradingview.com 👉 www.tradingview.com Our SP500 setup: First TP 2400 level 2nd TP below 2200 level If 2200 level cannot...
Until it doesn't..... Lots of moves last night and this morning, a very complex correction. I got stopped out of my longs and have been waiting for a resolution. Still looking like a bearflag overall. Below the red channel line would give this idea more confidence. Target to the upside could still be 2550-60 area, we'll just have to see. Good luck to all
The physical analysis suggests a strong downward motion in the coming days. Watch the video for a detailed explanation.
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Will most likely fall through its support at 7394,5 and down to 6150 before it might bounce back up there.