NAS100 SELL COMING DOWN (MY OPINION)
Uncertainty will cause a minor drop. But things should pick back up as long as D.J.T stays president. This is how I'm looking to play things if you disagree let me know why I'd love to hear from you. This is a MACRO trend analysis so I'm leaving some room for breaking news and price action.
SP500 flirted with 2943 multiple times in 2018. We double topped in October 2018, sending us lower, and a year later were able to break past it (October 2019). That led us to new all time highs in February 2020. During the Covid crash, 2943 became support. They built up momentum a bit, trapping bulls, then smashed through 2943 and reach the 2018 lows as support...
Bulkowski's BROADENING TOP PATTERN setup UPWARD BREAKOUT =60% DOWNWARD BREAKOUT = 40% Partial decline hurts performance
ABOVE is my PERSONAL TRADING PLAN. I will be OUT bottom FISHING for BARGAINS during the NEXT few days you know the usual..... :-)
It moved down too quickly. Looking to about 50% retracement in a couple of days.
Entry: 3360 SL: 3383 TP: 3308
Another graph of the S&P 500, this time looking at the 15m chart. Interesting how this zone is constantly cycling between supply and demand, however this time we are coming off a gap down. I believe this zone will be very relevant over the next 6 months, prepare for a breakthrough up or down
📍 SPX - into the elections and beyond This waterfall is a demonstration of how and where a decline in confidence on the risk front should be punished. The lust to expand equities higher is rather less here than one might suspect at first look. With the unsurprising hurdle of a contested election in US, buyers are threatened by an obstruction in democracy...
CONTRARY to all the election HYSTERIA, I believe there is modest PROFIT to be made. but KEEP a vigilant EYE on end of NOV. beginning DEC. 30% CORRECTION.
Important zone below, if it falls below it down we should visit bottom of parallel channel, alternative would be to go up to top of channel and then we should see what would happen. Covid cases may impose restrictions on global level thus if everyone expects a crash, we might actually not get to it due to contrarian ideology. Vaccine news are to be expected soon...
seems like another consolidation for breakup.
US500 - Intraday - We sold at 3410 (stop at 3426) A Doji style candle has been posted from the high. We are trading at overbought extremes. This is negative for sentiment and the downtrend has potential to return. Preferred trade is to sell into rallies. Levels close to the 38.2% pullback level of 3420 found sellers. Further downside is expected although we...
SPX had a pretty impulsive sell off in the morning followed by a strong bounce at the end of the day. The gap at 3360.6 is still left unfilled. 3393.5 still remains an important number as it was the previous all time highs made in 2-19-20 before the Covid pullback and is our support as long as price can stay above. I have a slightly bullish lean based on today’s...
LOOKING TO SHORT.. FLOW IS TO THE DOWNSIDE MONEY HAS BEEN CAPTURED... OLD LOWS COULD BE RAN BANKS ARE HIDING IN LAST BUY BEFORE THE HUGE SELL OFF WHICH WAS PROOF DUE TO IMBALANCE (UNHEALTHY PRICE ACTION)