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SPX- Moody downgraded US credit rating and Govt shutdown possibilities along with SPX being over brought, we could see a rejection here. Next resistance $4400 and $4480 Next support $4360 and 4290 Sentiment = Overbought Dollar Index: There is a lot of economic data from inflation to fed speaker. Overall, the dollar index looks like it held support and could run...
Overview ES is currently trading within a range from 4541 to 4508. Should the levels of 4500-4508 remain supportive, the next upward target is the supply zone around 4555. If it falls below 4500, a noteworthy area is approximately at 4485. Further down, there's a significant break and retest zone at around 4430. Key Levels Range: 4508-4541 Supply: 4555 Area of...
Did some work on breath indicators tonight and interesting how well the McClellan oscillator worked with divergence to find the bottom in the recent SPX sell off. From Investopedia: What Is the McClellan Oscillator? The McClellan Oscillator is a market breadth indicator that is based on the difference between the number of advancing and declining issues on a...
Simple Elliot Wave count here.. ABC correction into a gap + 0.382 fib forming a valid bull flag.. If this plays out, then SPX could see 5000 next year.. Only concern is NDX looks toppy ... that could drag the whole market down
CBOE:SPX is climbing it's 5th and last (?) wave from the parabolic rise created since the GFC... targets about 5600 CBOE:SPX and from there I do expect the October 2022 lows to be taken out at last...
Within the four panels above are comparisons of major US market and the international Bitcoin indices with the US Dollar Index, $TVC:DXY. From top left to right: TVC:DJI SP:SPX NASDAQ:NDX BNC:BLX As we can plainly see, each one acts a a near mirror image going back to 2017. When looking at correlation via an indicator, like...
The S&P 500 reacted strongly from the extreme boundary of the wave (4) area. The main question is now if this reaction is impulsive or corrective. With the current data, it still looks corrective.
Today I want to discuss about the bull and bear cases for S&P and introduce the fractal concept Bull case: Cup with a handle uptrend can be considered 1-2-3 wave and recent downmove as 4th wave it is a possibility because wave 4 is in wave 1's terrority, similar to the big downtrend. But this can also be considered a leading diagonal downtrend sub-wave 5 ended...
Babylon, the city where everybody spoke different languages. In the end, Babylon met grave consequences. (Macro perspective of the main chart) Citizens of Babylon, in our case traders, can barely communicate. They all speak in different timeframes, and with contradicting interests. Which translator in their right mind can untangle spaghetti? Many different...
🔄 Recap This week's market activity showcased the transition between trend and consolidation phases. Friday exhibited a strong uptrend, while Monday shifted to a consolidation mode. Notably, the breakout from the downtrend channel and CPI data fueled a significant rally. However, the consolidation session resumed post-rally, raising questions about a potential...
Hi Traders ! On Wednesday 15 Nov, The SPX500 Price Reached a Resistance Level (4515.46 - 4540.00) The Price Formed a Double TOP Pattern. So, We have a Bearish Scenario: If The Market Breaks The Neckline and Closes Below That, We Will See a Bearish Move 📉 Let's Wait For Breakout 🔥 ----------- TARGET: 4400.00🎯
Hello everyone, Yesterday, the index price presented more sideways fluctuation by settling near 4525.00 without recording any new positive target, affected by the attempt of the Stochastic indicator to exit the overbought level. The price may be forced to form some bearish corrective waves, but repeated stability above the support levels represented by 4492 and...
The S&P500 index / US500 has been on the strongest 2 week rise since October 2022, which was at the very start of the Fibonacci Channel Up you see on this chart. The index has established the 1day MA50 as the new long term Support and may test it soon if we expect it follow a similar course as the October-November 2022 rally, which made a short term pull back...
🔄 Recap This week's market activity showcased the transition between trend and consolidation phases. Friday exhibited a strong uptrend, while Monday shifted to a consolidation mode. Notably, the breakout from the downtrend channel and CPI data fueled a significant rally. However, the consolidation session resumed post-rally, raising questions about a potential...
In yesterday's trading, the index price touched the level of 4540.00 and then rebounded directly towards 4510.00, trying to catch its breath before resuming the main upward attack. The 4470.00 level continues to form additional support and the Stochastic indicator continues to fluctuate within the buying trend level. These factors support our bullish bias to...
Against our expectations, the rollover in the Chinese stock market has not materialized, and the SPX broke above the downward-sloping channel. Currently, the SPX trades near the $4,500 price tag. In the following days, we will pay close attention to whether it will manage to hold above the upper bound of the channel. If it fails, it will raise our suspicion over...
Bullish RSI divergence on the daily and many of the hourly indicators. VIX on an extremely bearish RSI divergence on the daily too. I think we'll see a bounce, which will look like a breakout out of the falling wedge, only to be crashed back down again. There's still a gap at 4570 which you would expect to be filled too! Not trading advise, just an idea. My...