SPX loves cups and handles. All the highlighted Cup & Handles on daily have played out beautifully so far, they all have been to the upside so far, but now we are making one to the downside with targets towards 4150. Then how do we reach new highs? If we zoom out to monthly TF things become clearer. As long as we stay above 0.5 or close above it on monthly,...
Just by simply measuring the previous corrections in the stock market, it is clear that corrections in general do not take long. The average size corrections seems to be between 3 and 5 weeks. The botom of the current correction is found in week 4. As the price is also holding a critical support level, the probability of this being the bottom is incredibly high....
SPX Daily Price Chart After the recent bounce of the level of resistance (Red Box) the SPX snapped it's first small level of resistance (Teal Dotted) and has continued lower. Price has also closed below the 50-day EMA while the 12-day and 26-day have recently crossed and the 50-day flattens out. The next level of support (First Green Box) should come into...
I posted this chart few weeks ago as a follwup to my short to show few possible paths SPX is going to take after it begins the descent and SPX has followed the one where I explained about a possible break of the channel into the deviation below. please refer links below the description to look at my previous posts on SPX short idea. The only difference is that ,...
Expect SPX to trade in-range for 2 weeks. If 4610 is broken and held for few sessions(5?), there is a good chance next leg up will have October in 4800s
SPX500 was going down And the indice broke the Support level of 4527.00 Which is now a resistance And I think the price Will go further down !
Pair : SPX500 Index Description : Bullish Channel in STF and LTF as an Corrective Pattern EXP FIAT Daily Resistance Level Divergence Break of Structure Completed "12345 " Impulsive Wave
SPX Reached the major Resistance Area ( the one that start the last bear market ) 4600 IS A VERY CRITICAL area because all the target for the current movement has been reached. the Market start the trend at 44° then become overheated and reached almost 72° from my point of View the market need to cooldown in order to extend a healthy movement the best option is...
In my previous post on SPX ( link attached below the description ), I explained how we are going to see a rejection on this uptrend soon and we beginning to see that now. In this post I will explain how I am playing this short setup. In the previous post I had a pitchfork. I simplified it with three parallel channels, one larger and two inside it in its upper...
Pair : SPX500 Index Description : Bullish Channel as an Correction in STF and LTF Divergence - RSI Break of Structure Completed " 12345 " Impulsive Wave and " ABC " Correction Consolidation Phase
The #SP500 diverged 61% from the trend it had referenced since 1940. When we look at such divergences in history, we see that the index has returned to the reference trend. The beginning of this reversal is usually confirmed by a close below the SMA9 on the 3-month timeframe. This level is currently displayed as $4174. In a possible bear scenario, EMA60 or...
SPX 500 Analysis on Weekly Timeframe! Rising Wedge Pattern in SPX500 Rising Wedge Pattern Formation after a Strong Downtrend SPX500 was in downtrend before now we are seeing a temporary uptrend but if we observe carefully it is an unstructured uptrend, for trend reversal it has to break 4323.56 level. Now SPX500 has formed a Rising Wedge Pattern. This...
Pair : SPX500 Index Description : Rising Wedge as an Correction in Long Time Frame Consolidation Phase S / R Level Bullish Channel Break of Structure RSI - Divergence
This update will be quick, Im very lazy this weekend. ES short term was already posted earlier today. There are 2 pathways Im following: 1 - H&S pattern, visible on the chart. That pattern if triggered will make full 5 down into early next year low to finish the whole move down from Jan high. (Fits perfectly with VIX sky rocket from its below 20 level) 2 -...
As you can see there is a lot of confluence at 3970 level (This chart become quite busy with the trendlines) If we do gap down tomorrow below 3970, I will be looking to buy 3928-39SPX level for a broken trendline test, if not more. This chart is similar to the ES, but has a higher level of support, so they have a bit different short term look one from another to...
As we have all seen, the stock market has been on a steady rise for some time now, but I fear that we may be on the brink of a significant drop. There are several reasons for my concern. While governments and central banks have taken measures to mitigate the effects of this past pandemic disruption, the long-term impact on the economy is still uncertain. ...
Pair : SPX500 Description : Completed : Impulsive Wave " 12345 " and Corrective Wave " A ( 12345 ) " Corrective Wave Impulse Correction RSI - Divergence Break of Structure Bullish Channel in STF as an Corrective Pattern Consolidation Phase S / R Level