Enjoy this summary of the stock market madness
I go over the moving averages this time; as well as, looking at some Historic Chart situations leading up to the crash of 2008. We touch some correlations of BTC and the stocks. Sneak Peak of my BTC long term chart. Enjoy,
Please enjoy, a little thrown together but I wanted to get this out there.
Looking good so far if you're shorting this beast. We have a very clear cut bear flag consolidation that makes trading very easy. It hasn't broken yet but when it does " LOOK OUT BELOW " Its measured move takes us to 230 on the SPY. Although 240 will provide some bounce as it has nice support on the left side of the chart. If 263 breaks then that we should...
These markets were made to move! As discussed in my previous analysis from Septemeber we have massive bearish diveregence in the RSI on our legacy markets. Elections helped give us a reason for uncertainity but politics will not ever Trump the Charts. They will simply fulfill them. The chart is King and news and events will often confirm what the chart had...
I would be looking for an entry shorting to our support at the brown line/ testing lows from Oct 11 If we break our current purple bear flag. 1.7% profit potential. If we counter trendline break up for another retest of resistance then I will wait. We have been hovering around our daily 200 MA which is coming in right where price is currently. So, if we break...
Support is holding in the monthly charts. If it breaks down to 2485 we go. Thinking of going long SPXU.
Short term target $12, its at a strong fib support on the 60min.
SPXU GoldMine---Shh... Daily Chart. Short-Term Trade Idea. Long Play on SPXU. SPXU is an inverse ETF of S&P 500 and has been in a downward trend for almost 10 years (since 2009). Makes sense as the S&P has been in an upward trend since the great recession in the U.S. However, SPXU recently broke out two times this month with volume confirmation each time...
pp= price projection ext= extension r= retracement
Ascending wedge, to a potential PT with historical liquidity (horizontal traffic)
More of a forex and crypto guy but today the SP:SPX caught me eye for nice 2 month short to 2200. Ill update you guys as we go. If you would like a more in depth reasoning please feel free to leave a comment below.
Wedge up Looking for a break below the yellow line when slope of yellow line <0 Z score should want to re-approach 0 RSI bounce off of ~70 followed by a strong turn down
Not much support below 20 day SMA IMO. This long term consolidation has created a huge resistance and suggests this isn't recovering soon.