Looking at the latest S&P 500 SPX (SPY ES1!) "Breadth" data , including Stocks Above 50-Day Moving Average (S5FI) & Stocks Above 200-Day Moving Average" (S5TH) — this is yet another indicator that we have been tracking since the start of the market downturn (correction/bear market) in late 21' / early 22' as it has helped to signal buy/sell signals. Here's what...
Leading up to the December Inflation CPI Report that was released this last week (Thursday), markets (at a macro level) have been rallying into this last Friday — which also was coincidently the start of earnings season as banks such as J.P. Morgan (JPM), Bank of America (BAC), Citi (C), Wells Fargo (WFC), BlackRock (BLK), & others. Now that the Inflation (CPI)...
$SPX (SP500) - Live Update.. BEAR? Unfortunately, we erased all the gains for today. Currently trading at +0.08%. We broke out of the 'bear-flag / pennant', which was surprising. The Gray Box was resistance. A close below the red line: $3870 would make me a bear. As in this case both of the previous bullish developments would be invalidated. #SP500
$SPX (SP500) - SHORT TERM UPDATE. What is next? The market is deciding which way to go, but we are still below the gray resistance box and in a longer-term downtrend. Because of that, I can only assume that the current consolidation is a continuation pattern / pennant. #SP500
Wanted to quick share a SPY chart ahead of the December Jobs Data, which is scheduled to be released tomorrow morning Friday, January 6th: UNEMPLOY USNFP Unemployment Rate (UNRATE) Unemployment Level (UNEMPLOY) Non Farm Payrolls (USNFP) Average Hourly Earnings YoY (USAHE) Participation Rate (USLFPR) Manufacturing Payrolls (USMP) Average Weekly Hours...
ES/SPY/SPX is currently in a consolidation pattern. The S&P tends to make a big move out of these consolidation patterns once they are given time to play-out. NOTE that these consolidation patterns CAN breakout in any direction AND/OR fake-out in either direction but, observing the weekly price action, Im banking on this pattern being bearish along with the fact...
After a sloppy last few weeks of trading to wrap up the year-end 22', SPY closed right around the (Q4/22') SPX JPM J.P. Morgan Quarterly Collar sitting right at $3,830. Looking ahead to the month of January, we have lots of upcoming data including December Inflation CPI, Jobs Report(s)/Unemployment Data (UNRATE), Producer Price Index (PPIACO), Leading Economic...
Next Support Level - Confirmed - Day 2 In our trading plans published on Monday, 12/19, we stated: "...the index is now testing the next key support level around the 3825-3835 range. Our models are indicating a range-bound trading while the index is trading within the broader 3810-3830 range on a daily close basis. If you are short, you might want to take profits...
The SPX is chilling in its falling channel, which at this point is still bearish. However, the last low was formed on a bullish divergence on the weekly rsi. As we can see on this chart, using Fetch Trends, an indicator made by me, we can also see that by the change of colors that the downtrend is becoming weak! This is good news, because if the trend...
Well who would of know about gap and crap? My yesterday post had it all covered. The magnitude of a gap up I had no idea about and it came quite strong, but still made a lower higher into that Yellow resistance line That Yellow line comes from Feb 2020 high, so its a very important resistance. I have taken several trades on the open, sold calls and bought puts,...
$VIX pivoting up from <21 low has been a strong sell signal for $SPY 2022 so far. we are now pivoting from the said level for the 7th time (2022) since 5th December. each down cycle last an average of 27.2 days before an upcycle takes place.
Fed Pivot Hope Turning Into a Bull Trap Nightmare? Day 2 In our trading plans published post-NFP on Fri., 12/02, we wrote: "After 20 days of meandering around 3950/4000 level, the index rocketed out of the range to a session high of 4093.50 on the FOMC day, 11/30/22. This morning's Non Farm Payrolls data could be suggesting that it could potentially be an...
Rising Wedge, nearing 0.786 fib, major resistance nearby, low momentum above the 200 DMA and upcoming economic reports are all reasons i've been building up a short here on the S&P. Swing trading with a final target at 3400 over a several month timeframe, and a SL at 4160.
As we continue to monitor the broader index market we see many discrepancies between the S&P, Nasdaq, and Dow Jones. All 3 are not displaying the same level of strength, but what they do all have in common is signs of weakness with this last rally. Although I'm open to the idea that the markets have bottomed, I still think its more that we still have 1 more leg...
🔴 SPX500 TF: 4H Side: Short SL: $4009.75 TP 1: $3937.75 TP 2: $3893.00 TP 3: $3857.00 SPX500 will have a small correction here.
After a drop of 28% from the peak, SPX has bounced up after touching the 200 weekly moving average. It does not indicate a trend change but rather seems like a bull trap in the overall bear market. FED is meeting between 1-2 November and volatility is expected. If you are entering longs, protect your profits with tight stop loss. Things can turn down again...
Many people got trapped yesterday by the bears. For us, it was a good shorting opportunity. ALWAYS REMEMBER..... DON'T FIGHT THE FED !!!