I was bullish yesterday () without doubt; but the question was, if market is going to give a dip first. But when US session opened, when price was much sideways, I said in the group, bias is to the upside. I also called the move up at 945am EST and we got a 50points rally! At 1145am EST I said short NDX on resistance and that was the top as SPX also collapsed. My...
Looks like Minor wave A likely finished today, next up is Minor wave B. Models point to 18-22 hours of possible duration which will likely see the bottom on Thursday. There are a three pockets of interest for the bottom. I used the green box (4281-4294) for the more conservative zone, yellow (4255-4275) for the more aggressive zone and my target is the white box...
Remember when i said i was buying calls from $422-$417 and expecting at least a bounce back to $429?
Trading options on the daily/weekly has been wonderful with this T/A lately.
Now if we can just open lower tomorrow and keep the momentum of Wins going.
We began buying PUTS today at the $436 line given.
Honestly most of them we worth closing (and did) by...
CBOE:SPX chart is quite INTERESTING.
We can see the obvious short term downtrend.
We're currently at the bottom part of the GAP.
Volume has been a lil lighter, holiday is likely the reason.
RSI broke the downtrend it was in
Maintained the longer term 2022 low up trend.
Can AMEX:SPY reach the top part of the current downtrend?
AMEX:SPXS AMEX:SPXL...
S&P 500 INDEX MODEL TRADING PLANS for TUE. 10/10
Geopolitical risks, high interest rates, sticky inflation, early signs of consumers beginning to scale back (per Walmart's CEO)...yet, retail bullish positioning has increased last week. Is this Fools rushing in where Angels fear to tread or retail investors having some crystal ball into the future that...
We have shown numerous times that the S&P500 (SPX) was in a 2.5 month Channel Down/ corrective move but all within the larger Channel Up pattern, which keeps the long-term trend bullish ever since the bottom recovery last October (2022). Much like that bottom which was formed by the rebound on the 1W MA200 (orange trend-line), 12 months after (October 2023), the...
There is a Bearish Bat with PPO Confirmation and MACD Bearish Divergence visible on the Hourly chart and if it plays out, it is very likely to bring us down to $4250. If that doesn't hold then it could go down to or even below $4000.
As mentioned yesterday () and as perfectly played out, market gapped down on bad news was a perfect buying opportunity and SPX eventually closed green at the highs. Price action was so clean, with price just consolidating for the whole Asian and European session, only for the huge rally to start in US session; with PZ holding the lows (and the same time NDX PZ...
Let's be honest. SPX is in an uptrend now. The price has been creating higher lows and higher highs. The downsloping trendline which was acting as a strong resistance in March 2023 was retested and confirmed as a support. Since then the price has been in the uptrend and in our opinion we are at the early stage of the new BULL MARKET.
Yes, you hear it right: BULL...
In the higher timeframe, it looks like we have completed a WXY correction. If the low holds, the wave (4) correction can be finished. If the upward move fails, there is still a chance that we get the wave (4) as an ABC.
As a future learning lesson, the below image signaled wave 3 of 3 of 3, wave 3 of 3, and the beginning of the end of Intermediate wave 3 as soon as the Intermediate wave 3 signal ended, I should have known Intermediate wave 3 was over as historically this is the signal. The bottom was inline with historical endpoints, however, I expected it to go about 50-70...
S&P500 / US500 opened lower today but managed to hold the 4hour MA50 as its Support and is having a big boost intra day.
It is not impossible to see one final pull back under the 4hour MA50 again as on August 24th but it's confirmed that this new bullish leg of the Bearish Megaphone is in full motion.
Buy and target 4440 (under the 0.786 Fibonacci and top of...
TVC:NDQ has traded back above the NECKLINE (from Head & Shoulders Break down) - Amazing!!!
DJ:DJI has not traded above and neither has the $SPX.
In this chart we see the SP:SPX illustrating the resemblance to 2022.
We've been showing this chart for some time now.
It's amazing how similar they are trading.
AMEX:TYD is running today (leveraged bonds ETF)...
S&P 500 INDEX MODEL TRADING PLANS for MON. 10/09
The geopolitical tensions with the attacks on Israel could be the main drivers of the market today and for the rest of the week. As we published in our trading plans on Thu. 10/05: "With JOLTS on Tuesday, Initial Jobless Claims Numbers this morning, and Non-Farm Payrolls tomorrow, this week is all about Jobs and...
SP500 indeed completed wave A ( Red Circled ), now "pulling back" toward 4445 +/- a confluence zone of :- 1) Fibo 61.8% 2) Down Trendline (red) and etc.. Possible another -17.32%.
Practicing my crayons skills... Don't judge :)
Fixed range VP setup near breakout zones
Things of interest
- Previous dips chopped before the next leg up
- Currently just outside high volume zones. Low vol = consolidation potential?
- Holding, so far, previous resistance zone
- Sideways moves could give time for breadth to improve
- Oil appears to be going up...
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