Looking for a short on the sp500 from the 4125 area of interest. This will be good for me if aligned to Wednesday's news events, from here looking to hold to a modest level of 3700ish. From here can hedge etc.
Okay, I'm just gonna say it. People have the attention span of gold-fish. We cannot forget the storm that is brewing and the bullshit they're setting up.
For starters, don't forget about SBF and FTT. But wait, what was even before that? The Evergrande Situation? And then what about before then/around that time...(See, I'm guilty of it too), but there was there...
The SPX made a false breakout. A false breakout means that the price attempted to break out of a pattern, or break support/resistance. The attempt is successful for a short amount of time, before the price goes back to where it was. This usually is a reversal signal.
For now i'm staying bearish, untill the price goes sideways or manages to break the resistance...
Volatility was high during the Asian and US session yesterday, which saw a reversal of fortunes for the Japanese yen and the US dollar track Wall Street lower by the close on concerns the US is already in a recession.
The yen originally weakened and sent USD/JPY over 250 pips higher as the BOJ did absolutely nothing, catching pre-emptive hawkish bets off guard....
The count speaks for it self.
However, P5 started a new count to the downside.
The under- and overshoot where wonderful. Picture perfect I would say. But price traded back into the Fork again, not able to reach the Centerline.
We (Medianline & Pitchforker) call this a HAGOPIAN.
So, price should go back farther than from where it came (P5).
But so far it...
Attempting to identify the end of Intermediate B has been waves of fun and plenty of misses. While there is no prescribed metrics on what the wave’s overall movement and duration should be, historical metrics have been quite reliable (most of the time). That has not been the case during this chase for Intermediate wave B. I have not given up and caved to the...
The S&P500 is currently wandering sideways and doesn't really know, where it's heading. We're currently expecting the course to sink further South, but there is a slight temptation to cross the resistance line at 4026 points. In our alternative scenario with a probability of 30%, the course could dig a bit deeper to finish the pink wave alt. II, before exceeding...
Closed 50% of My Long on $BTC.
I'm up a good amount. The following $SPX (Sp500) scares me, we are breaking the rising wedge near the higher timeframe supply zone + diagonal resistance.
Will try to keep my altcoins running as explained in the video.
#SP500
With the "cooked" CPI, let us examine the ES Chart.
1. The dotted yellow TL's show the OVERShoot and UNDERShoot, which are perfectly in line with the Medianlines.
2. Price was going up from the Zero to Five Count and broke the confirmed Pivot 4. This leads into a potential new start of the next Downtrend.
3. From the red 1, up to where we are now (2023/01/12),...
$SPX (SP500) - Live Update.. BEAR?
Unfortunately, we erased all the gains for today. Currently trading at +0.08%.
We broke out of the 'bear-flag / pennant', which was surprising.
The Gray Box was resistance.
A close below the red line: $3870 would make me a bear.
As in this case both of the previous bullish developments would be invalidated.
#SP500
$SPX (SP500) - SHORT TERM UPDATE.
What is next?
The market is deciding which way to go, but we are still below the gray resistance box and in a longer-term downtrend.
Because of that, I can only assume that the current consolidation is a continuation pattern / pennant.
#SP500
Here is a chart that calculates SPX "Fair Value", based off FED Net Liquidity variables. SPY ES1!
Looking to the end of the year 2022 and the start of 2023, here are some SPX target ranges to keep in mind when taking into account the current FED Net Liquidity:
Upper Bound: $4,271.69
Fair Value: $3,921.69
Lower Bound: $3,771.69
If you want a copy...
Rejected from top of descending channel with double top figure.
Closing under the 1-day 50MA and Supertrend.
Opening Boiler Bands with a down move toching it.
1s Targer 3500 - 50% fibonaci level and bottom of last move.
2nd Target (Main Target) 3200 - 61.8% fibonaci level.
3rd Target (REKT) 2760 - 78.6% fibonaci level.
