SPX is currently on the wrong foot again as last week's quick recovery on the impressive Nonfarm Payrolls is proving to be too unstable. The index is well within the multi month 1W Channel Up (RSI = 64.964, MACD = 69.900, Highs/Lows = 55.7180) but as it trades on the Higher High trend line, a medium term pull back for a Higher Low is technically justified.
Pattern: Channel Up on 1W.
Signal: Bearish as the pattern is close to its Higher High.
Target: 3040 (just above the 3030 1D Support and where it is expected to make contact with the 1D MA50).
This Channel Up has been working great for me so far giving me the following accurate...
I think a leg to the 320 area or back down to the 303 area on the SPY are likely. Personally I have a bias towards the 320 side as we approach the anticipated completion of the US/China trade deal. Whether we actually get the deal or not is a coin flip in my opinion but I do expect the market to continue rising in anticipation. If it falls through then we will...
it seems that SPX is topping out for short term and may be long term. i love to play a short right now as i putted the position on the chart. additionally we have bearish divergence in the 15m chart. i used the gap for my target it gives me a great Reward to risk ratio of 4.26 which is perfect for tarde.
A bear-signal will be confirmed once SPY closes the week below line 'A'. Once 'B' is taken out, we'll see lows of 275, and trade sideways for a while. It looks like a further decline starting early next Year, but we'll address that when we get there.
(trend lines averaged with step-line on linear)
Ongoing US - China trade wars are still holding economies of the two countries and as major players these two have shown the effect of their poke-game in global markets.
SPX has started this year very optimistically showing newer records and higher-highs and still more higher points to come. Unbelievabale isn't it? Despite rumors of the US is one step away from...
Extreme indecision in the American market, where we constantly see positive days alternating with negative ones, without understanding the sentiment of the market.
We are waiting for this rectangle to be broken to give us an idea.
At the same time we protect the nearest Trailing Stop positions with Stop Loss.
The Main reasons to think that a bearish movement is about to star are the next ones:
A) Same situation than the bearish movement in October 2018
observe how the price made exactly the same formation that is doing now, we can use it as a guide to develop our setup on this current scenario.
B)The current Technical...
After a strong rally to the upside it's hard to see price moving downward, afterall we've bean hearing a lot of possitive news througout the media. But as a trader aren't we supposed to be contrarians? Well after looking at how today ended It could be hypothesised that the stong move to the upside has calmed down since bulls failed to break through recisstance and...
Over the last 7 years, S&P 500 has respected EMA 200 + long term diagonal support; with very similar touch-points.
There is currently a challenging double top in the 295 area which might push the price down to consolidate between 257-295. The current channel is between 273-295 which if you want to profit, you would want to zoom-in a trade set-up with a lower...
S&P 500 is showing a signal that is very similar to my other idea published about the US30.https://www.tradingview.com/chart/US30USD/YBo66EvZ-End-of-Day-trade-long-on-US30/
It has broken through a descending resistance line and is looking good for a long position.
Puede que el crash ya haya empezado! / Maybe the crash has already started!
Los últimos serán los primeros... / The last will be the first ...
Si corrige puede que lleguemos al nivel de los 2570 puntos. / If there is a correction, we may reach the 2570 points level.
Debería ser así por la clara divergencia entre el precio y el indicador RSI. / It should be...
4H CHART EXPLANATION:
Main Items we Observe on the Chart:
-Price broke out the bearish channel, starting a bullish movement.
-Currently, the price is inside a corrective structure and is trying to break out with low volume.
-The las support of the price is the middle trendline of the weekly ascending channel.
Based on this if the price breaks out below 2834.0...
On today’s post, we are going to have a look over the last 16 days when the SP500 started a bearish movement. going from 2961,5 to 2799.0 (-5,44%)
- We can see that the bearish channel that works as the main trend was broken yesterday starting a corrective structure that now is facing a major resistance zone
- That zone is composed by the previous ascending...