Previous significant market top that formed a mini double top and drop looks to be happening again.
Monday we should see another gap down and continued follow-through selling, or at least next week which should create a spike in the vix as shown here: www.thetechnicaltraders.com
No one know for certain, Fib projections and possible count. Come up to some support and the 2 landed at the .618, to the tic, so possible algo play, though no discernable reaction at the -.236.
Short Term Elliott Wave view in S&P 500 (SPX) suggests the rally from December 26, 2018 low (2348.50) is unfolding as an impulse. Index has ended wave ((3)) of this impulse move at 2816.88. In the chart below, we can see wave (5) of ((3)) move from 2612.42 low subdivides in 5 waves impulse of a lesser degree. Up from 2612.42 low, wave 1 ended at 2738.98 and...
SPY Stock market showing signs of reversing but still needs several more days to form top. But who will lead the decline and next rally? DOW or NASDAQ?
Here is an article talking about it.
SP:SPX AMEX:SPXS AMEX:SPXU NASDAQ:QQQ SQQQ AMEX:DIA SDOW UDOW
SPX is approaching our first resistance at 2817 (78.6% fibonacci retracement, 100% fibonacci extension, horizontal swing high resistance) and a strong drop might occur pushing price down to our major support at 2616 (38.2% fibonacci retracement).
Stochastic (89, 5, 3) is also approaching resistance and we might see a corresponding drop in price should it react...
SPX is approaching our first resistance at 2817 (78.6% fibonacci retracement, 100% fibonacci extension, horizontal swing high resistance) and a strong drop might occur pushing price down to our major support at 2616 (38.2% fibonacci retracement).
Stochastic (89, 5, 3) is also approaching resistance and we might see a corresponding drop in price should it react...
SPX is approaching our first resistance at 2817 (78.6% fibonacci retracement, 100% fibonacci extension, horizontal swing high resistance) and a strong drop might occur pushing price down to our major support at 2616 (38.2% fibonacci retracement).
Stochastic (89, 5, 3) is also approaching resistance and we might see a corresponding drop in price should it react...
SPX is approaching our first resistance at 2703 (100% fibonacci extension, 76.4% fibonacci retracement, horizontal swing high resistance) and a strong drop might occur pushing price down to our major support at 2508 (50% fibonacci extension).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this...
SPX is approaching our first resistance at 2703 (100% fibonacci extension, 76.4% fibonacci retracemen, horizontal swing high resistance) and a strong drop might occur below this level pushing price down to our major support at 2508 (50% fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is also approaching resistance and we might see a...
SPX is approaching our first resistance at 2703 (100% fibonacci extension, 76.4% fibonacci retracement, horizontal swing high resistance) and a strong drop might occur pushing price down to our major support at 2508 (50% fibonacci retracement, horizontal pullback support).
RSI (34) is also approaching resistance and we might see a corresponding drop in price...
We have seen the S&P 500 fail to stay above the 100 day EMA repeatedly, now the market has run up 14% since Christmas. While the bottom may be in, in the near term one should expect to see a technical pullback. There is a very large and very ominous wedge encompassing the entire recovery move and the Stochatic RSI has been overbought for four sessions.
SPX is approaching our first resistance at 2703 (100% fibonacci extension , 76.4% fibonacci retracement ) and a strong drop might occur below this level pushing price down to our major support at 2406 (76.4% fibonacci retracement , 61.8% fibonacci extension ).
RSI (34) is also approaching resistance and we might see a corresponding drop in price should it react...
Hi All,
This my "Note to self." Hence, take this with the massive grain of salt.
This is Simply looking at the worst-case scenario or Best case scenario.
It's all in the chart, Ppl....
Hope this does help someone out there.
Enjoy Ppl.
