Technical Analysis (TA) We're getting first signs of a rejection off the weekly 50EMA (key resistance area with Momentum indicators being overbought. The relief rally might be move and we might start seeing a retest of support level at $4k> If the $4k level breaks we might see a continuation to recent lows at $3.6k or lower lows. Be cautious out there on...
Video analysis of the recent Price Action to the SPX500. Hope this helps anyone interested.
"What a fool believes he sees No wise man has the power to reason away What seems to be Is always better than nothing" YES - the U.S. is doing better than the rest of the world. Europe, China, and Emerging Markets are imploding in real-time. And there's your "bull" sh*t market. If that's your thing. Love this publishing Trading View deal - colors and...
A very simple Elliott wave chart shows the price action of SPX index so far. since wave 'c3' extended beyond 1.618 times of wave 1, there must be a final wave (c5). if 'c5' ends @3887 (0.62%of c1),that will be the end of correction. let's see...
Between monkeypox, upcoming CPI data, recession fear, Russia, and china I feel we have many reasons to see a correction if not a correction, the highly talked about recession. Being this is my first year as a trader at times like this I feel the most strategic thing I can do is sit on my hands. But I am eager to hear opinions and perspectives on what is to come,...
This is what was sent to those who are on my email list. I have 2 pathways going into the mid of the month. - 5 waves up, then the 4th wave should be limited to 3930-40 and might even get to 3985-92 only. 3910 MUST hold on any test for this count to be alive. It means next 12-13 days will be less volatile move lower and limited. - Much deeper B wave down to...
Throughout the years following the Great Recession, many market analysts have warned that the bull run was ending. Here's one such article from 2016: www.yahoo.com So naturally, an important question for traders is how to objectively detect whether or not the bull run has ended by using charts. My chart above aims to do that by using statistical tools....
3rd time is a chart or another lower high? Im slightly short NQ at the highs with a tight stop, it made new highs while SPX is lagging with lower highs, not sure that is leading here. If SPX will breakout, I will flip long. So far short is a good R/R here with an ideal target at 4072-78, expecting the low to come tomorrow and another squeeze into the 8th high
All the earnings and FED news is out so we “”buy the rumour and sell the fact….”” 1 - Looks like 4144 a small double top - better seen on the ES1 FUTURES 2 - Oscillators divergence BEARISH – Not supporting the new highs… 3 - Both tops followed by Large engulfing RED CANDLES - better seen on the US500 4 - MACD - BEARISH signal 5 -VWAP - Held on the retracement...
Im looking for a low tomorrow at 4058-62 and ideally we stretch to 4012-4027.5 which I expect to hold. My timing is showing a low on the 3rd (if we wont reverse tomorrow), then high on the 5th or 8th and low into the mid month. That would mark the B wave and one more push into EOM, ideally we see 4330+
So far so good, needs a continuation tomorrow. Main supports are: - 4027.5 - 4010-12 - 3940-45 (must hold on any tests for continuation higher!)
SPX remains in a major downtrend. Speculative setup: -short entry at the strong weekly resistance -stop loss above the entry (increase stop loss if willing to risk more) - target at the previous weekly lows
Made this prediction based off the 2000 & 2007 bear markets. Hopefully things don't get this bad, but I think the market is due for at least a 50% correction from the top (4818). Doesn't help that the US ( & world) is dealing with war, COVID (& monkeypox), historic inflation, supply chain issues, monopolized oil market, a deteriorating housing market, two quarters...
Im slightly short as of Fri close, not planning to hold for long, looking at other day to get in with swings. Notes from the chart: 4308.5SPX is the main resistances now (must hold for continuation lower) Resistance - 4158.50, 4160.2, 4177.60, 4168.80 (Maj) SPX - Low target for tomorrow 4052, 4027 and Main support 4012SPX - Buy if seen in am, don't buy if we...
Right at the maj resistance now. Same as VIX at the support, SPX is at the do or die spot here Maj support is at 4050 now!
I did send this chart during the last trading hour yesterday to those who are on my email list. I have revised the bear channel and it fits much better with the current price action as well as the fibs. Im short here and looking to add if we see a double tap of a bit higher high, otherwise doing only day trading. Its a weekly and monthly closing day today, so...
He didnt gap down and gap up today, so no call for the full retracement off yesterday's low into Fri. The next targets are 4075 and 4090SPX I have some good confluence with the 4090SPX and as far it was so far away from a week ago, its getting close to it. Tomorrow is a double directional day, watching for the 4090 to be hit to mark the high. Also getting close...
I find the close not bullish, should of close on the highs for tomorrow's continuation. So if no gap up tomorrow above that channel, we should see a full retracement of day's day by Fri. Im out from my long term longs keeping only 1/4th running Enjoy your evening