Wait until price breaks out of consolidation and sell to blue area.. potential to go to orange area but risky
One higher high left on the 1H TF? This upward correction looks more like a B than a 2. 2H bearish divergence on the RSI. 1H bearish divergence on the MACD. Currently at the trend-line. Now or never for the bears?
2H bearish divergence on the RSI. Currently at the trend-line.
In my previous post I indicated a good R/R sell opportunity. A small update now given the latest development. We see SPX is retracing back up. It found support on a trendline (clearly testing it), and locally we do not see a lower low but a higher low. It seems SPX is gonna test the resistance of the right shoulder top(orange line) that was recently formed....
✨ We provide charts every day ✨ Like and Follow to help us grow family! 🎉 --- Let's see if that money printer can make it rain friends! Today we are looking to see if the uptrend can continue with the S&P (SPY, SPX, SPX500USD, etc). Longing the uptrend in equities has been profitable recently, let's assume that trend continues and talk about entries, exits,...
S&P 500 Index (1H) / Primary EW Count (Green or Orange)
Geometry suggesting we are going down.
Beware of the triple ZZ that we propose for the S&P 500 CFD (one of our favorites).
High probability for the s&p500 going up to 2854.5 if BREAK the 2846 level HOWEVER if the price respect the 2837.7 level can back to 2802
Fridays always pumps, so let see, can we hold this fib projection and level.
Yesterday we made a new high at 2970, bullish signal. Of course, we see retracement. Looking at the hourly graph, we see SPX is retracing towards 2850, the high off 14th of April and the battling around the same level early March. Since RSI on hourly is getting oversold now, and we have a trendline starting on 7th of April and being tested twice, this could act...
Same applies here: we need to wait and see if we are done with this upward structure or not. Is there an ABC in subwave Z of the triple ZZ (red count)? Looks impulsive. Coming price action is going to be key.
Apologizes for the change in colours, I will try to keep a more standardized format from now on between the cash and the futures S&P 500 indices. We have a clean 5-wave move in green 1 or red A. Futures are down in pre-market, we might not get our 7th swing to make our pink flat X possible.
Minor update for what is going on with SPX. I was bullish SPX and I believed the wedge outbreak on the downside was a false breakout, thus invalid. That made me update the previous wedge. We see SPX is hovering around 2900 level(Daily 100EMA), and it is caught between the Daily 100 EMA and the Weekly 100 EMA. In a wider band we see it is caught in between the...
I have strong beliefs that the SPX will decorrelate from the cryptocurrency market in future Potentially when this bearish megaphone breaks down, and the 1.618 bearish wave resumes. disruptive technology like this carries revolutionary potential, and should be treated as such Super mario world! Another idea for SPX :)
The red count remains my primary as long as the VIX holds its Fibonacci support. 0.65 fib still not breached in SPX futures. All options are on the table. We will not hesitate to switch bullish if the appropriate signals come.
SPX is flying, that's all i gotta say lol...literally enter the trade and hold till the next resistance, you can swing it as well to the GREEN ZONE.