good evening peoples. i don't want to be the guy that gives you this information, but it seems like we have confirmed an impulsive move to the downside. 5 wave down = wave A or wave (1) of a higher degree. best case scenario it is only a wave A worst case it's a wave (1). will talk more about it in the days ahead. this sort of thing deserves a video. stay tuned.
In my last post I explained how you should have bought call options on the overall support line, from then the price has gone up. If we manage to close a day candle over this resistance point we should expect very bullish behavior. Not that we haven't already. Tell me what you think in the comments! Seeing everybody bearish yesterday but bullish today is confusing.
As you can see from the chart, there is a very obvious line of resistance that was broken two weeks ago during the Santa Claus rally. A line that held as resistance multiple times over the course of 1.5 months. The S&P is notorious for testing prior breakout and breakdown areas, especially when it is as important as this one and it was breached during a genuinely...
In lieu of causing max pain, it seems the controllers of the market have decided to stick another major knife into retailers the past few weeks. Looking for a reversal in the short term. Bull PT: 476 short term Bear PT: We have another 5-10% drop (highly unlikely)
Not a financial advice I recently watch a spy analysis video by David Marino jr on YouTube which gave me a thought of plotting key trends and eras to study confluence.
We finally touched down on that 450 mark and busted straight through to 446. In my humble opinion the most dreaded candle pattern has started forming on the monthly. November: Shooting-Star January: Bearish Engulfing What do these candles mean? In November buyers were very excited about the bull market, money was flowing and profits were being made. on the...
$SPY $ES - After a brutal sell-off EOD today things are looking bad for the markets
SPY hit our Outside Month Target today at 448.91. Nice run on the drop here. Harder to enter puts now until we see a break below the broadening range. Can still push further down a bit. Almost time to look for a long reversal to get in on a pullback.
Another possibility. Difficult to say as of now where we are. Just creating charts for webiste my posts.
Seems like we are sinking. RSI is oversold and no divergence in sight. We are back to the immediate short scenario.
I have moved in puts across all indexes a banking event jan 26
Concerning chart. Looks like a backtest today ... as long as below 209 there's substantial risk to the downside $RTY_F $AMC $CROX $SPY $ES_F $QQQ $NQ_F $VIX $TLT $TNX $DXY #Stocks #Trading 📉
'Protection!!! PUTS, PUTS, PUTS!!! It looks like the SPY could form an inside candle with an upper wick retest of former trend line area (see circle), also on QQQ. And that's if we don't go any lower today; but seriously doubt we go higher. You can thank PTON for crushing the market as the news they released was super bearish; shutting down production of there...
good afternoon, the reaction just wasn't strong enough to sustain the kind of rally i was searching for. reverting back to the expanded flat idea. should see some more chop in the days ahead to get us up to around $4660 before the final flush into the local golden zone to complete wave (2) of a higher degree. wave 4 target = $4660 wave 5 target = $4461
My answer to this question is: No this is not a good time and we are going to see lower prices in the next 2 weeks and then there could be recovery! 50 days rate of change is negative and SPY seems rejected from 50 days EMA. Most probable scenario: another leg of decline in the next week: You can see the most important support(green line) and resistance (red...
SPX nearing support of 4540 with coincides with the bottom of the trend channel. Next levels of support if broken will be 4511, and 4284. RSI currently sitting near the oversold level of 30. Expect volatile markets with rampant covid cases / hospitalizations throughout the US and the federal reserve determining the route it will take to battle the high levels of...