A double top is an extremely bearish technical reversal pattern that forms after an asset reaches a high price two consecutive times with a moderate decline between the two highs.
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Note that I did the waves in reverse for the Vxx since it has an inverse relationship (3 waves up, 5 waves down). If that is true, then looks like VXX/VIX is looking to make a move in the upward direction. Could be a trash idea as I never saw someone use wave analysis like this for VXX.
Month over month growth vs. year over year growth. It's that simple. For those of you who watch CNBC, Fox Business, or any other mainstream org turn it off and tune in to reality. I can't formulate YoY% nor normalized charts here on trading view (go figure..) but I can do my best to show you all that this is quite the time to be alive as either/both a speculator...
Hello traders and investors! Yes, SPX is going up today, which is amazing! But, let’s for how long it will keep going. First, if you are new around here, I invite you to follow me to keep in touch with my daily analyses. And check my social media, as there is some interesting stuff there too – link below .
Ok, SPX is in an undeniable bull trend, and there’s no...
S&P 500 is at a crossroads just like the NASDAQ. It has been in correction since March. Thought it might turn down at the 1.4 Fib but it has pushed to the 1.5 level. Will it turn down here or can it push to 1.6 and a new ATH? The divergence indicator it has been showing bear for over a week. Is it the end or just consolidation for a new push.
Hope this helps and...
SPY - Rate of Change..room to rise
Take a look at the line I drew at the top indicator. Notice the recent rise is going towards that line as in the past you will notice it acted as resistence and support.
Market should take an aim at ATH and some is my take on this. Watch this play
It's an election year. War tends to keep presidents in office. Every single president picked an enemy during reelection year. There must be allies and foes. China is the foe. Korea is the allie. You need an asian hub and manufacturing partner. You need korea.
The S&P 500 made a sharp reversal following the 35% huge declines we experienced as a result of
the global pandemic. From the lows in March of this year, price has moved up 52% and still climbing.
Since price moved back above the 20 simple moving average on July 1st, the 20sma has been used
as support which is a good indication of a strong linear trend.
Pattern: Bullish Megaphone on 4H.
Signal: Sell as the price is close to the Higher Highs trend-line of the pattern with the MACD flat.
Target: 3320 and if 3310 breaks, extension to 3270.
Most recent S&P trade:
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The direction lines are trending down and and close to crossing 0 (meaning there is a down trend).
The swing (purple) lines were high on the previous bar (meaning they are over the very short term, the one the one-bar time frame) and crossed the direction line during the current bar.
Conclusion: go short.
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