Weekly Sequentials have met a aggressive Green 13, this signals an upcoming price reversal likely to occur. This week ended concluding a reversal Doji.
It's possible that SPX price is following a corrective triangle pattern like the one depicted. If so then we can easily capitalize on it. Price would need to drop below price-point B to complete the pattern prior to resuming a bullish trend.
Short term Elliott Wave view on S&P 500 Futures (ES_F) suggests that the rally from March 9, 2019 low (2726.50) is unfolding as a 5 waves impulse Elliott Wave structure. The Index is now within wave (3) which subdivides in 5 waves of lesser degree. In the chart below, we can see wave 3 of (3) ended at 2899.5 and wave 4 of (3) pullback ended at 2877.61.
Short...
If a move below 2870 begins and starts to gain momentum to the downside, then we will start to see a head and shoulders pattern form which is exactly the same type of pattern that formed in the SPX500 right before the 2008 Financial Crisis. Keep in mind though, its not the intrinsic nature of a head and shoulders pattern to cause a downward move, but rather what...
The S&P 500 is flirting with record highs again after a major correction last December which only missed becoming a bear market by a marginal amount ending just shy of down 20 percent. Going on to the 11th year in the bull market, investors should then take a look at where we could be and a few signals to determine where we are headed which can be found on Daily...
Its not quite a great idea to invest in EM if one is expecting a downturn as EM will be significantly hit from drying up liquidity via outward capital flows and lower investment. Happened in 2008 with the liquidity crisis and again in 2011 with the EU sovereign debt crisis. We can see this relationship between developed markets and emerging markets through a...
SPX has trended at a 57 degree angle since the 2008 financial crisis. While trend line theory suggests any stock above a 45 degree angle is troublesome, perhaps the SPX is an exception. However, the current trend we are witnessing is at a 67 degree angle, suggesting a significant pullback is warranted. Take this with the global fundamentals (slowing Europe,...
I just wrote a bit of a thesis on potential head and shoulders pattern forming in the SPX500. This is basically that same information, but without the head and shoulders pattern in addition to two moving averages, 200 MA and 200 EMA. Also, I have added a moving average on the volume. As you can see, it has significantly declined over the past year since volatility...
V bottoms are bull signals that suggest follow through to the up side if driven through resistance. Clearly, that's what we've seen over the past few weeks, but resistance breakthrough is not too strong. Moreover, we are seeing a number of minor pull backs without strong conviction beyond resistance. Fundamentals are key to SPX500 as well, so don't get bogged down...
I'm still bearish, but I believe price needs to move a little higher before the bears appear. A nice bull trap to break the all time high, before a reversal to the 1800 handle.
Calculating the mid point of the wave and using symmetry, the target should be around the 3100 level. Coming from another angle, I used another method to get close to the same result.
So...
S&P 500 index pretty much peaked on 2734 previous value.
Now, made new high in a form 2856 peak which is nothing but new high which will hardly be surpassed now.
Stoch RSI confirms bearish momentum and projected bearish crossover.
I personaly don't see these price ranges sustainable in this form on this price range and i would suggest selling a position on...
If you're a momentum trading loving moving averages, US indexes, particularly the SPX500 is for you. If you're more an oscillator guy, then its understandable how frustrated you may be lately. That said, we could be looking at former resistance as support, but we havn't yet touched previous resistance for this to be the case yet. Although, we are staying above it...
Now that we are above resistance, are we now about to conceptualization previous resistance as support? It's hard to say given the crazy amount of volatility around Brexit which will be coming if Parliament fails to pass legislation, or if US-China trade war is still on which is trending back in that direction, or if the Fed realizes that they want to actually cut...
Volatility in either direction is lacking because markets don't know what is fully thrusting them forward right now. Something like the Shanghai Composite is much easier because its more based on speculative appetite than fundamentals. Even if you're a bear though, we have at least about 1 or 1.5 percent more until we hit a level of resistance below the record...
The chart from Feb 25 showed the support and resistance zones for $SPY for the coming week (link in related ideas). SPY started the week with a gap up right into the red resistance zone but couldn’t hold and sold off after hitting the upper trend line. The next day it held on to the support 1 level identified on the chart and tried to run for the resistance zone...
Conclusion for today’s S&P 500 forecast: Price closing below the 1 hour bullish trendline that is confirmed by momentum provides a sell signal.
SP:SPX trend analysis for today is examined today on an intraday timeframe (1 hour) with coverage of price action over the past 4 months.
Two (2) major formations on the 1 hour timeframe to pay attention are the 1...
Looking at the SP:SPX 1-month chart, I’m seeing some strong indications pointing at SPX being at the top of a potentially violent crash.
Evidence For – Indicators that Support SPX Being at the Beginning of Crash:
MACD Support Trendline: Broken with Some Distance – In the previous two crashes, the beginning of the crashes coincided with the MACD support...
