Hello guys The SPX is still moving upwards in a rising wedge. As pointed out already in my last idea, it is likely we are going to continue moving upwards and we may hit resistance at around 2950 to 3000 points. As the smaller moving averages continue to rise I personally think the possibility of another huge drawdown is slowly decreasing. Even taking out the...
Thursday into Friday was interesting with the news cycle but, will the market keep up the good vibes hmmm lets watch this corrective pattern. Here’s an idea of how it could look. Maybe a corrective pattern leading into a retest of the 79% on the daily... Good luck
Bearish signals: A rising wedge Declining volume Horizontal resistance
It seems too good to be true! a bullish megaphone has emerged amidst all this chaos. This is where TA and fundamentals clash. Or do they? As you can see the Fibonacci spiral provides sufficient resistance for a large drop. With the price gapping over the spiral! I believe this to be one of the biggest bull traps i've seen. I highly DOUBT we will see a follow...
I have no words for this market. Maybe like 2755? idk good luck
The wave C could hit between 2900 and 3000 and there is a 61.8% Fibonacci retracement level. Its C=A or C=1.272 x A.
SP 500/SPXUSD SELL SCALP start: 2813.5 sto ploss: 2826.4 take profit: 2742.6
The price can bounce off the Mirror Level 2854.0. If you think about Buy position it will be better to wait for breaking the level. This is a short term trade. Push like if you think this is a useful idea! Before to trade my ideas make your own analysis. Thanks for your support!
See prior SPX updates below.
details on chart
Look for opportunity to go long if the virus did not continue to spread at the rate is doing now
The final 5th wave is finally upon us! EW rules say that price should not break the red line on this chart. I am using a Downward Diagonal since this is the fifth wave which is only allowed during this wave according to Ralph nelson Elliott. I am excited to see the result of this move!
The market is behaving exactly as it should. There is no special wave counts needed for the entirety of the recent downtrend thus far. I was able to quite easily decipher the Super Cycle wave all the way through the Minor wave for the current downtrend. That being said, due to the extreme volatility I am not trying to get exact dates and times for the waves but I...
Following the previous study The recent movement to anticipate is this. I will keep an open mind, as the structure is at peak. Could a retracement happen anytime soon? If yes, where will we wait?
The wave X could be over then we could expect the wave Y to unfold to reach 3260. Or we will see the wave X extended then the wave Y will emerge later but the target would remain the same.
S&P500 BUY LIMIT ENTRY 1 2938 ENTRY 2 2868 SL 2800 TP.1 3068 TP.2 3138 TP.3 3268 TP.4 3338