This pattern reminds a period about a year ago. There are some visible similarities in january 2020 and january 2021 I think we might see some correction in near future in 1Q of 2021. Whole market seems kinda overhyped like DOGE or GME. In context also a bond market looking bullish and will decide about the future. Stay save manage your risk.
Divergence on RSI as we retract to 0.38 key level after a 30+ point gap down on SPX on Wednesday. A gap down is in place again with new South Africa virus variant and an exposed liquidity problem. There are 3 key levels that SPY could bounce off of, but 376 must be held or the weekly trend will be broken and we could flush down quickly.
As highlighted previously, this is a breakdown of the technical development of yesterday's market tank. 26 Jan gave heads up of the impending trend change. There were two ranges (white rectangles) pre and post Trump-Biden transition Lower High and Lower Low series happened, then it puked... VIX gave clear and present danger heads up (another story in review) So...
If you look at the chart i posted earlier. Well here's your breakout :( I took a lotto 6/18 50c @ 1.00 and sold for @ 3.50 just now. Lets see where the market goes from here. Be patient and ride the trend!
S&P Starts out on fire. Huge reversal is pushing it way down. Luck never mattered, but it especially doesn't now. While everyone pushes the panic button, will you? These two recent red candles are ominous as can be. Trying not to overreact now becomes the name of this game, we suppose. -BDR
If this is wave 3 up of a descending diagonal, we can expect a drop of 25% to 282 with a risk of less than 1% at 385. Weekly momentum is bearish with daily bullish momentum. Be on the lookout for daily bearish momentum to take the next daily bearish entry signal! AMEX:SPY
Pumping of dollar into the market is done and right now THE MARKET IS INSANE and TIP OF ICEBERG. This time, it is beyond 2008 crash where the market has to correct more than 70% by end of 2021 - 2022. After the major dip $324, market will bounce back near to ALL TIME HIGH where the newbies, investors, traders etc will try to catch the falling knife where the...
On the weekly chart we see a couple of similarities in price action and formation. Currently DXY is bottoming at its support. Notice a couple of things: -Timestamps on both periods in bottoming and price formation. -Exact same bottoming progress in a blow of top, a seloff a bounce and a consolidation around high timeframe support What indicates this? -A dollar...
The past week appeared to be well until Friday, when the 'US equity markets pulled back hard suddenly (after Biden's release of stimulus details, on the contrary). The turnaround was highlighted as it happened, see linked idea. Now that the week is done, the technical outlook strongly suggest a top in the S&P500 ES1! futures. Candlestick pattern formed is known...
This is my first time charting UVXY, not saying i'm freaking out but i'll look at this chart every single day now bc its scary.. Copy the chart and look at smaller timeframes
Per one of EW counts I have, currently has price up around a top of a wave 3 (Roman numeral blue circle). As market is up at highs and in a wedge pattern area, I'm hedging a bit as I think there could be a small pull back. Gameplan: - entered a put debit spread at the money in SPY and gave myself time - price targets down at $374 and then $368 Keeping this one...
thats what I see. check with your strategy as well.