Trading Plan for Thursday, April 18th, 2024 Market Sentiment: Mixed, with traders weighing the implications of inflation, economic signals, and potential shifts in Federal Reserve policy. Key Supports Immediate Supports: 5066, 5060, 5054 Major Supports: 5045-47 (major), 5038, 5000-5005 (major), 4990, 4966, 4932-36 (major) Key Resistances Near-term...
SPY on a daily chart shows rising VWAP lines and price with the RSI indicator showing strength above 50 since November and presently in the 65 range and so not yet overbought. Volumes are near to the running mean. Price Momentum and Relative Trend indicator are more or less flat but are positive. The mass index indicator does not show a reversal pattern. I...
SPY on the weekly chart is up 25% in the past six months. This is beyond its historical norms even during a presidential election year. While there has been some volatility in both directions the climb is consistent and persistent. The indicators serve to document this. The predictive algo predicts more of the same. A price cut when the fed gets around to it...
I'm not a fundamental type of guy, I just look at what the chart give me, and as far as I see it from a Technical analyst perspective, this is nothing more but a simple ABC corrective wave from the super extended bull run we had previously. (Thus put the market in a bear market) We could either come back up to the 420 area to clear the shorts which would complete...
Trading Plan for Wednesday, April 17th, 2024 Market Sentiment: Uncertain, as investors digest comments from Federal Reserve Chair Jerome Powell and assess their implications on the timing of potential rate cuts. Key Supports Immediate Supports: 5091, 5082 (major), 5076, 5068 (major) Major Supports: 5046-51 (major), 5038 (major), 4996-5000 (major) Key...
For those who have been here since 2022 early 2023 when there was so much fear in the market and we called the market had bottomed. I think it was the right call, even though we had a lot of naysayers. Now I think we are nearing the end of this rally which I estimate will be sometime in February 2024. I have two outcomes the green line below which I highly favor...
A dark cloud hangs over the seemingly sunny skies of the stock market. The culprit? A valuation metric known as the CAPE ratio, which is currently hovering near its third-highest level in history. This has some investors spooked, whispering fears of a potential market plunge. But is this cause for panic, or simply a cautionary sign? The CAPE ratio, or cyclically...
As we look at the VIX we note the historical impact the level 20 has had in the past. The last two times the VIX peaked above 20 were October 3rd 2023 and 30th 2023 which were the two bottoms of the SPY in the last 6 months. Using VIX and noting the significance of action above 20 is very important to understanding the psychology of the market. Use 20 as a key...
The chart is that of the DIA .This chart was telling me that the market was set for the decline right into the VIX cycle PEAK due 4/15/4/17 I have now moved to a bullish view that the first leg down is ending NOW and that Both wave count point to a rally to start from today and I have moved back into a 50 % net long CALLS next cycle turn is may 6th
E-mini S&P (June) / E-mini NQ (June) S&P, yesterday’s close: Settled at 5104.00, down 63.50 NQ, yesterday’s close: Settled at 17,876.25, down 303.00 E-mini S&P and E-mini NQ futures finished sharply lower for the second day in a row as both geopolitics and rising rates act as major headwinds to investors’ risk appetite. We are viewing this pullback as healthy...
Trading Plan for Tuesday, April 16th, 2024 Market Sentiment: Uncertain, with geopolitical headlines and market volatility remaining dominant factors. Key Supports Immediate Supports: 5102-05 (major), 5092 (major), 5079 Major Supports: 5067 (major), 5050-52 (major), 5039 (major), 5000 (major) Key Resistances Near-term Resistance: 5115, 5126 (major), 5136-39...
As stated in this weekends video update, I expected us to retest the top of the red channel first, with potential to drop back inside the channel and test the bottom. The middle yellow channel is also a less likely possibility. I don't think we'll get down to the green again until AFTER we hit are WAVE 5 target and also, Inverse Head and Shoulders pattern target...
NYSE:DELL I was in this 2 weeks ago and made good $$$. I closed it out on April 8th on the second big red bar. This morning as it opened over the 21 EMA, I put ½ size position on with a stop below Fridays low of $117.61. If the market holds up and moves higher, I expect it to test the previous highs. I am also aware that it could have been a double top, and this...
Trading Plan for Monday, April 15th, 2024 Market Sentiment: Highly uncertain due to major geopolitical headline risk over the weekend. Expect significant volatility and potential for large gaps up or down at the Sunday open. Important Note: The escalating tension between Iran and Israel has the potential to cause significant market disruptions. BE PREPARED for...
The SPX retreated nearly 3% from its all-time highs following last week’s print showing a higher-than-anticipated Consumer Price Index (CPI) for March 2024. This marks a second consecutive month of accelerating CPI in the United States, which presents an obstacle for the FED in its more than two-year-long battle against inflation. Plus, it makes it increasingly...
Understanding supply and demand is essential. Here’s a quick intro to how we can benefit as traders by using AMEX:SPY as an example. 1. Identifying Potential Entry and Exit Points: Supply zones represent areas where selling pressure exceeds buying pressure, potentially causing price to reverse. Demand zones, on the other hand, indicate areas where buying...
Heavy selling observed across the S&P500: Financials & Real Estate hit hard. S&P500 hitting the 50 day MA...technical daily support. Some breakout sectors are seeing there first pullback in a bullish trend. The sectors that have had breakouts will likely see dip buyers. Health Care & Utilities are into some interesting support levels. This is where bulls...
USA Stock Index video idea by @NoFomoCharts SPY, QQQ, DIA, IWM, DXY. 04/14/2024, 09:00PM EST Video Idea. Technical Analysis & Educational Chart Videos. Follow, Comment, Boost, or Cheer to support. Thank you! All content is Not financial advice.