S&P 500 looks very bullish. Target 1: 3550 Blue triangle indicates the current range. Green box is buy. Red box is sell. Blue line indicates potential support/resistance . Green line indicates t/p. This is a log chart. This chart is made using fib channels. This is not financial advice. All charts shown on my page, including this one, are just for fun....
Bearish until 2020, which starts the next presidential term.
I usually don't show what I am looking at on both sides of the trade, so I am going to start doing so in the future... Here is how I see SPX if there's a clean break above ATH and the bull run continues into the end of the year...
Got this on the 39 minute chart, the crazy part about this is that the price target measurement lines up perfectly with the established trend line, let's see what she ends up doing.
Let's look at a few things here - First: Based on the last down swing we have reached the 1.272 extension which, based off the patterns taught by Larry Pesavento, is a key extension for trend reversal (the other, 1.618 I have on the chart as well, as that'd be the next target if this one fails). Second: Volume is telling us a similar story, I added my relative...
Bear dvg MOM, RSI, MACD in 15 & 30 min chart, at this 2297 hit..... just a suggestion if this could happen. I know my EW-labeling is probably wrong ?, but it's just helpful to use...and learning.
ENTER TRADE JUST BELOW THE 2125 PRICE LEVEL (1.618). STOP LOSS JUST ABOVE 2129 PRICE LEVEL. PROFIT TARGET 2109 PRICE LEVEL. STOCHASTIC IS BEGINNING ITS FALL FROM THE 80 LEVEL.