SPX is approaching our first resistance at 2508 (100% fibonacci extension, 38.2% fibonacci retracement) and a strong drop might occur pushing price down to our major support at 2379 (61.8% fibonacci extension). Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin...
SPX is approaching our first resistance at 2508 (100% fibonacci extension, 38.2% fibonacci retracement) and a strong drop might occur pushing price down to our major support at 2375 (61.8% fibonacci extension). Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin...
This chart isn't 'playable' so I'll have to update progressively. Main direction= down. Bounce? Possible.
SPX500 is approaching our first support at 2600 (100% Fibonacci extension , Horizontal swing low support, 76.4% fibonacci retracement ) and a strong bounce might occur above this level pushing price up to our major resistance at 2808 (61.8% Fibonacci retracement , Horizontal overlap resistance). Stochastic (89,5,3) is also approaching support and we might see a...
Consumer confidence is high but the only way for this ship to turn around quick is for the Fed to change strategy, that will not happen. Rising interest rates are providing competition to stocks as they have throughout history. To make matters worse, we know the Democrats are going to start the process of throwing Trump's political future in to doubt along with...
Bulls definitely showing they're not going to roll over here. Key levels: S: 279.00 - lose that and we lolk for healthy 4hr and daily consolidation R: 281.10, then a lack of resistance until 286.91 We've now bounced over half way from the low of the dump back to all time high
4hr gives me the most clarity. S: 269.59 R: 275,23
Having watched the S&P500 drop to lower lows twice this week and it's becoming clear the market wants to test the low of the February dump at 252.92. We came close Friday with the low of day hitting 262.29, but in my opinion the market needs to break 260 and test the 250s in order to have confidence that low can hold. Back in February we had a much faster dump...
High volume and long wicks on 11 October indicate that the trend might reverse anytime soon. After a second push upwards and hitting a resistance at around the 27 mark the trend is showing weakness. This can be seen by a long candle body with regular volume. Short at 27. TP at 25.5
SPY on the daily timeframe has a daily inside bar and it's second bearish candlestick in a row. Low of the day did hold a long term trendline (blue) from back in January 2016 but also closed below the 200MA (green). So far we're looking at a very weak bounce on the daily and a potential bear flag. The amount of bear volume stands out compared to the bull...
S&P 500 is going down, according to what I am seeing from the chart above. Let's take a look. SPX top is sitting at 2940.91. After touching this level, it has now gone down and tested EMA10 (light blue line) as support. Looking at the history of this chart, it is easy to see that EMA10 always works as support for SPX. But each time EMA10 is broken, support is...
I think there are 2 possible scenario's for the SP:SPX on a bigger timeframe. Note that this is pure speculation. Only trade after confirmation. Scenario 1: Back to the previous bottom and then bounce back up to form a head and shoulders pattern. Break out to lower territory imminent after a H&S. Scenario 2: A weak market will cause the resistance to break...
My updated view on SP:SPX / OANDA:SPX500USD futures
Both are almost 100% correlated currently. Both have currently broken out of a wedge to the upside.... bull market lives on?
SPX500 playing out as planned. the bounce was bigger than expected. Break down of this few month triangle could be the signal or a larger market pullback or bear market start. overall market is sideways until then
The continuation of the down trend could have it's start here on the 2HR chart. Watch for change of trend here with the bigger picture of the overal sideways action and volatility of late.
$spy $spx $dji $ndx The selling is allowing more buying..big buying.. prepare for more volatility and shakeouts. S&P wants 3000+