SPY has been struggling off the low, but we see a bullish divergence on RSI. If this 199.46 can hold, stops at 199.35 we can possibly see a breakout to the upside. Targets as of now are, 199.84. Critical breakout from 200.32-200.65
Currently in a downtrend. Lower high, with a closer pullback than any recent pullback. RSI is weakening, selling volume looks like it will rise as it did the last 2 pullbacks. 0.382 line was already hit previously, so I expect this to pull back to at least the 0.5 area (194ish) this time. The last major pullback did not respect the 200 sma, and I am not sure it...
Trading near the channel and the neckline resistance, Short term trend is down and any recovery may face sell offs again. Yes there is short covering or fresh buying seen from lower levels but I feel with smaller stops this trade is worth taking a chance. Regards, SP CapitalTA
Apple trend reversal signals are extremely strong now after the "buy the rumor & sell the news" today. It might very well close below EMA 50 today, and that includes rejection of the all time high made back in 2012 fall. If that does confirm, we are looking at correction down to 59~79 area which is a 40% correction (max). Next week's movement is critical here,...
Count on the chart...speaks for it selfs. I'm long at the moment but 2025 seems to be where wave 5 will have resistance... If we then see a shallow retrace this wave 5 could be wave 1 of 5 ....and a parabolic move could be at our hands Time will tell .... as all ways! Safe trading @BLawrenceM Music at work: www.youtube.com open.spotify.com
With this wave count I'm at the moment bearish looking for a move down. Have made a wave 4 into wave 1 violation and at a 88,6 retracement. It does look bearish if this is the right wave count Safe trading Ladies & Gents @BLawrenceM
Looks like Fed is setting the market up for a pop on there announcement later today at 2 o'clock. Market would then have made a perfect ABCD correction (yellow lines) at the 1.272 fib and looks like a 3 drive to a bottom at the same time (green lines). We would at the same time have seen a gap close Fisher looks also ready for a bounce making a possible divergens...
If indeed the top is in - here is a bullish count for SPXU - 3X SPX I see a wave 1 up in 5 waves and a wave 2 down yesterday. Today we see wave 1 of 3 and a possible wave 2 of 3 as a retrace. A 3.168 ext of wave 1 will close the gap at 52.20- 52.59 Safe trading ladies and gents!
There might be some back and forth here and a retest of intraday high....buuuuut ....I'm long SPXU Safe trading ladies and gents @BLawrenceM Music at work: www.youtube.com open.spotify.com
Speculative right now... So fare 78,6 is key area all gaps above are closed 88,6 could be the final target but as a bull trap Safe trading! BLawrenceM
Possible outcome right now: Minuet wave 4 or subminuette wave 4 with ihs target
This is a classic ending diagonal with waves making 3-3-3-3-3 all the way to the E-leg ending by making an over throw and the E-leg making a perfect harmonic ABCD pattern. (Could though be drawn with E only being the C-leg. If that's the case we will see the summer passing by with SP ready to be shorted when smart money returns). Safe trading Ladies &...
RIGHT SHOULDER IHS TARGET has been reached Notations on chart I'm in cash - waiting for tomorrows ECB announcement Safe trading ladies and gents @BLawrenceM
My bearish count .. is basically saying... The top is in. But see my other daily chart with a bullish count for the SP.... it might not be over yet. Hard to determent witch one is the right... still unfolding. When in doubt... stay out... that will be my advice. Time will show.... as always Safe trading ladies and gents! @BLawrence I'm more often on twitter...
Smells like a diagonal being formed together with a gab close ending up with a Bearish Gartley being formed. I recommend hands of until clear signals given Safe trading ladies and gents BM
Monthly chart is at a 1.272 fib extension so how the top is panning out...hm this is another possibility as a 3 drive to a top harmonic top pattern Safe trading ladies & gents! BM Music at work: open.spotify.com www.youtube.com
See notation on chart An ABCD move will close gap Save trading BM