The market has taken it's breadth, and we move ONWARD!
Multiple Bullish signals present for the upcoming trading week.
-Daily Candle closed above the 50day MA
-Classic inverted H&S Pattern
-Profit Target 1: set at 4528.75, this level holds confluence with resistance + prior trend line.
-Profit Target 2: set at 4596.50, this is the price target of the inverted...
Yesterday’s rally in the $SPY confirms our hypothesis that the overall market looks like an inverse head and shoulders with the neckline at 440. The measured move if confirmed would take us above the all time high. We are cautiously bullish for the end of the year as seasonality is in our favor. Major headwinds such as inflation, treasury yields, chip and labour...
Most likely we need to fill this gap before we go back up. Market doesn't like excess anything or gaps for the most part. Algo's are a menace but they are like an ADHD Wifey - They don't like small messes ruining their clean houses.
This is SPX500 chart. I don't think so we are done here sentiments are at extreme fear and you think price will drop? No way. They manipulated the lows and now they will break the highs.
I'M BULLISH ON STOCK.
ALL THE BEST!
We all know what they do best - print like there is no tomorrow.
If 430 level hold and is bought, we will get out rally. Every guru and their subs are long to their teeth. There is cash on the sidelines. If that cash sees this as a double bottom buy the dip opportunity - to the moon we go.
If this dip is not bought, look out below.
2hr shows a death cross...
The overall bloodbath in the markets yesterday left the main indices in oversold territory. If history repeats itself, the double bottom formed in the $SPY should account for the beginning of the next leg higher. If the current headwinds persist, the bears will need to push the market below $428. $435-436 will be an important level for the bulls to reclaim today...
In this weekly analysis, I noticed a similarity in the market correction of the 2nd and 3rd week of May 2021 to the current environment.
As we can see from the chart, in May, the market first dropped below the support level of an ascending channel which then transformed itself into a resistance level. In the following weeks the index traded in the ascending...
The overall market displayed an impressive rally from Monday’s lows to fill the gap and reclaim all momentum lines. For next week we are cautiously bullish as we have the end of the quarter rebalance and the new monthly inflows. Most dips should be a good buying opportunity as we head into the earnings season.
Strong rally in the indices as the FED came in rather dovish last night. Strong pre-market action above Monday’s gap. Holding above 441 throughout the day might be an indication that the recent downtrend came to an end for the moment.
Beautiful harmonic bouncing on the SPY . This will be a classic breakout, pull back, continuation pattern. The 30,50,100 SMA's are wide and healthy regardless of the noise and hyper evaluations. The trend will defend but a correction is due... we all know it.