S&P500 has now broken decisively to new highs. With most of the major central banks determined to ease at any sign of economic slowdown, the march higher will likely continue for months to come.
S&P 500 (SPX) shows a bullish sequence from December 26, 2018 low against June 3, 2019 low (2728.81) favoring further upside. Short term Elliott Wave view suggests the rally from June 13, 2019 low (2874.68) is unfolding as a leading diagonal Elliott Wave structure. Leading diagonal is a special type of 5 waves structure with a wedge like pattern and overlapping...
$SP500
Mid // Longterm Outlook
Bearish Momemtum continues within the stock market // Indices.
We are looking for the scenario below to occur within the Mid to Longterm for the SP500.
Confluence within this area being //
- 0.5 Fib retracement via our entire Rally
- Daily Demand
- 200 EMA Support
I will be a short term bull once we enter the 2635 range....
SPX reversed off its resistance at 2956.1 where it could potentially drop further to 2723.5.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
SPX reversed off its resistance at 2956.1 where it could potentially drop further to .2723.5
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
With the US China trade war heating up once again and the fall out beginning to flow over into a weakening global economy the stage is set for another volatile period similar to H2 2018. The S&P500 index has failed to break out above ascending resistance for the fourth time confirming a reversal, imminent support can be found at $2725 (38.2% fibonacci retracement...
SPX reversed off its resistance at 2956.1 where it could potentially drop further to 2723.5.
Disclaimer:
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
The blue lines (solid and dotted) represent areas where I expect the price to go up/down to. They are the support and resist.
The green circle represents a period of time where I think the consolidation will come to an end.
The way current conditions are, the consolidation period will come to an end between February 2020 and October 2021. We could then see a...
SPX reversed off its resistance at 2956.1 where it could potentially drop further to 2723.5.
Disclaimer:
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Me applying the wyckoff distribution phases to spy.
Below is a description of everything on the chart. I know it is a lot but it is well worth reading. the mind is a terrible thing to waste.
Please check related ideas link for more information into wyckoff and this distribution phase.
THIS IS BASED OF THE WYCKOFF DISTRIBUTION PHASES.
Phase A: Phase A in a...
