I am very aware of the almost permanent uptrend of SPX. There is what obviously looks to be an inverted head and shoulders that has formed, but the same could be said about GOLD, GBP/JPY, US30 and NAS100. I am looking to take a short before the head and shoulders decides to actually play out since i don't feel like its going to pop yet and there is a possible...
This is how I see things playing out. I wanted to post this as a challenge to my T.A skills I have been doing this for quite some time and feel pretty confident in my work. Let me know if u agree or disagree and why I'm open for discussion and critique.
US500 - Intraday
We look to Sell
We are trading at overbought extremes.
Momentum is stalling with the posting of new highs and indicates bearish divergence.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible. We have a 78.6% Fibonacci pullback level of 3507 from 3588 to 3210.
We have a 61.8% Fibonacci...
SPX - Three weeks to go to election. Pretty amazing price action this week. After a scary push down on Tuesday. Wednesday, Thursday and Friday did nothing but go up the rest of the week.
SPX is due for some consolidation but all indication is SPX is going to have a big October including a test of all time highs and beyond.
3425 is a key level to hold on any...
SPX500USD: Inverted head and shoulders
1 - 3442
2 - 3510
Stop, fixing below 3307
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Waiting for your comment, what do you think about this?
The SPX (SNP500 Index) monthly chart has been giving clear signals in the past with regard to overall changes in trend. With all of those trends taken into consideration, we can see an extremely similar situation with the current price action. As we also take into account for current political, geopolitical, COVID-19, and tech stock inflation factors, we can...
HELLO EVERYONE
Here's an idea on the S&P500 which is currently in an uptrend on higher time-frames but saw some losses in momentum in the last couple of days, targeting this pull back from higher time-frames.
On the DAILY time-frames the index broke the 50 M.A and is currently retesting this moving average and support level now resistance level 3401.8 now will be...
$SPX looks like it was bound to reject this level regardless. Trump tweet just sped up the process. If 3359 level and GP can hold, we should get another test of the 3425/3431 level this week. Big scary red candle, but pretty bullish looking chart. See what overnight brings.
There is still no swing entry in SP500, but I feel we are getting close to it. Advance Decline Line and Insider Accumulation did an amazing job predicting all major moves. We want to wait till they speak again and hopefully, we will get divergence. For now, I focus on intraday and short-term trading. Based on cycles we can expect a rally this week. I can’t predict...
SPX500USD idea
As for the index:
I think the three-week correction is over and we got an impulse.
After a short-term correction, a variant with a good shopping area was established
The first target is the last high
