SPX500 is approaching its support at 2610 (61.8% Fibonacci extension, 76.4% & 61.8% Fibonacci retracement, horizontal swing low support) where a bounce could occur, causing price to rise to its resistance at 2655 (61.8% Fibonacci extension, 61.8% & 38.2% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching support where a...
Price action for the S&P 500 from January 29, 2018 till present date has been captured in this analysis using a contracting triangle Elliott wave structure. The implication of this structure for the S&P 500 is that price should resume its bullish trend once a breakout occurs out of the triangle. Breakout point as used in this analysis is ~ $2718.51
The post...
The S&P 500 has experienced an incredible run ever since its low in 2009, surging from $652 to a top of $2869. That is an incredible rate of return totalling +340%. Or an annual rate of return just under 18% - and that still leaves out the return gained through dividends. I want to provide some word of caution in this post, looking at the graph and looking at long...
Analysis:
I've seen SP500 create a short term top at the completion of wave 3 of Wave 5.
It is in the process of creating a wave 4 of Wave 5. Currently it looks like a triangle/bullflag but can become a wedge as well.
Hypothesis:
I am looking for a wave 4 pullback to the orange dotted line, where I have indicated by the blue arrow. (fib confluence area)...
SPX500USD is being held up by its ascending support line where price could potentially rise further to its 1st resistance at 2017 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal pullback resistance). If it breaks past this level it could rise to its next resistance at 2740 (76.4% Fibonacci retracement, horizontal overlap resistance).
RSI (55)...
Hello!
Here we have a 4 hr chart of the ES1!.
The ES1! is currently testing upper trend-line resistance.
It is also trading in a 4 hr squeeze.
Look for the squeeze to fire off long and a break of the upper trend-line resistance and resistance zone in RED (key pivot-points) for a test of the recent highs.
Happy Charting!
~KP
I've kinda got used to putting my ideas in the chart so I can cite exactly where my ideas come from.
Lemme know your ideas on this. From a technical standpoint, it looks to me like we're going to see a pretty significant dip.
-Kristian
An Elliott Wave count of the S&P500 shows a cycle-level 3 Impulse Wave either complete or very close to complete, with a major correction (the 4) imminent.
A bullish H&S pattern has formed in the PRZ of another bullish Shark pattern. I expect another push higher for wave ii before the fire and fury theme returns in force.
Good luck,
Ali Sharifazadeh, CFTe
SP:SPX
If the SPX falls below the of 200 moving average we would be move in an ABC ZIG ZAG formation that would reach 2400 pts. at the moment the market are resisting falling ...
PPSignal continues to give SELL signal.
Possible short entry if PPsignal gives BUY Signal over 50 or 60% fibo levels. Profit 20800.
Good Look
After 200 points short things have turned long, there could be a better entry point coming up?
But long with caution as it’s coming up to the holiday session!
Support at 2648 and 2532 Resistance at 2800 and 2875.
The high and low price are likely to be up and go back to All Time High at 2875, or it can brake.
Long when the price falls back to the 50-day EMA, or when price action causes a price reversal, such as pull back or star in the support frame.
