Card counting methods are not allowed in casinos, and if they got you, you are done.
Hopefully, it is not illegal in the Wall Street casino, and you can even use algorithms to find the patterns!
Now, Let's talk about the numbers you see on the chart.
These numbers show the days S&P500 closes at higher levels if you count the candles backward.
A fraction is made...
Hello traders and investors!
Today we will talk about stocks, specifically S&500 against GOLD (SPX/GOLD ratio chart), in which we see an interesting development we want to share.
As you can see, stocks remain in the strong uptrend and there can be room for more gains, we just have to be aware of another, higher degree correction as S&P500 is approaching 2018...
Here is a brief technical outlook for 4 financial instruments that are on my radar.
1️⃣ Bitcoin (BTCUSD) - 3 days time frame ₿
I guess everyone was watching this sharp bullish rally from 29.500 level.
No wonder, the price is currently consolidating and trades within a wide horizontal trading range.
28.800 - 29.800 is...
SPX recovered quickly from last week’s flash correction on Monday. After such quick recoveries the market tends to accumulate in a slightly positive territory. The tension in the Asian market forces US capitals to move back to the US market. This movement will reinforce the USD currency and therefore weight a bit on the equity. The correlation between...
⚠️ The nearest support for today is a limit buyer (4378.0).
In case of breakdown and fixation below the mentioned support, we expect a relatively deep correction within the trading week with reaching the balance of the week level (4345.0).
📝 If a buy pattern is formed near the limit buyer level (4378.0), limit seller (4443.6) is the minimum upside target.
🤔 Like...
Global Futures are trading broadly in the red on Tuesday after drifting sideways for most of Monday. Having said that, we're still at ATH's, and looking like a freight train without breaks. As of 9:00AM the Dow was down -0.25% to 35,055, the S&P was down -0.14% to 4,416, the Russell was down -0.66% to 2,202, and the Nasdaq was up 0.06% to 15,134.
Despite the...
taking a deeper look at the ponzi, this local area looks like a 1-2 1-2 setup.
which means we're going to be going so much higher than i originally had anticipated.
SPY monthly RSI is 76.75. Remember the RSI pattern we discussed recently? Look at the RSI from Jan 2019 to Feb 2020, and then look at the RSI from Feb 2020 to Jul 2021. That's an almost identical impulse wave. What comes next, if history is any indication, is a massive, unexpected, market crash. We'll have to wait and see how the wave plays out...
I'm Going to tell a "Lie" story again to the "Herds" at SPX farm about not just 1 wolf but maybe 2,3 wolfs is coming to the SPX Farm! .. A story about : Wave 3 (yellow) Can't be the "shortest" wave, So Price need to be capped below 4484 for wave 5 (yellow)...
Earlier, I posted about the S&P500 defying gravity.
Another indication to support that view is here... COPPER.
It is well known for copper futures to lead/follow (takes turns) the equity markets. The reasons behind this phenomena is very fundamental, copper is used in production of many things, and in an economic upcycle, copper is one of the first metals...
This is a continuation idea to the most recent one:
Pattern: Channel Up on 1D.
Signal: Buy as the price hit the 1D MA50 (blue trend-line) and the RSI has entered its 1 year Buy Zone.
Target: 4450 (the 1.382 Fibonacci extension, which has been the most modest target for a...
This is some serious rising wedgie. I only hope this bubble doesn't burst in the next few weeks because I am still unprepared for the destruction this will bring. This is not financial advice. Gold might bring some relief in the short terms.
While Jeff Bezos is flying rockets to space his company appears to be setting
itself up for its own take-off.
If we look back at this stock, we can see that price was in consolidation from
September 2020 following a 116% bullish run from March 2020.
Such a strong move was likely to cause long-term sideways movement as the
market would have become exhausted from...
The last two major stock market retracements occurred in 2000, and in 2007, respectively. Each of these was assigned an underlying cause and an overarching title. Yet, it could just be that both of these were caused by the same de facto trigger; rather than the convenient set of societal circumstances surrounding each at the time.
Nomenclature and true cause...
Here is a short analysis on the price chart of the stock the Apple. I use a combination of trendlines, key levels, fibonacci retracement and EMA's to find areas of confluences with an increased chance of the price reacting to a certain area.
I have identified two potential buy areas, one with the 200 EMA and the 23 fibonacci level and another one with a key...
