We have been watching this pair for many months wondering when or if the big drop and change in trend will come, But week after week, month after month it keeps increasing ? Whats your opinion and when/if do you think it will change trend direction ?
There is a big happy on the markets everywhere, but a I think that's a bit overheated. So, my view is the correction is on the horizont currently.
Before the weekend there is a one day open market at the USA. I am very excited now to see how to go the US indices.
Based on the previous post we made on S&P500 futures (check the link to related ideas), we have our short setup on position.
-We can see a breakout of the ascending channel + a pullback to the trendline
-We have set @sellstop orders at 3192.00 and a stop loss on 3304.25
-We will move our stop loss to entry-level when the price reaches the next support zone.
-Our...
Big test for the UpTrend now, price get to the major trendline and inside the channel, there is AB=CD so we expected for a new low and that the Monthly candle will end red, many more tools support this trade (Fibo E level Bollinger Band)
+Virus, 3170 is our target because there is there an open Gap.
SP500 Daily Chart SHORT RE-TEST OF THE TRENDLINE THAT BROKEN
We got a nice breakout now reset and we going to new low, a lot of bulls stop-loss waiting to be deleted on the low of the Iran attack day, can fall a lot more, there is a gap at 3170 at 3050 at 2940 all these Gaps can easily close
+ VIRUS
The S&P is caught between:
Resistance region (27.12.-08.01.) AND the Pivot Point (daily): ~3,270
Support region (27.12.-08.01.) AND EMA 50 (daily): ~3,215
If we see, that the S&P has difficulties to move above, close above and stay above the 3,270, we would have another good short opportunity. Nevertheless, there is also a good chance that the S&P will...
Use this as a guide to develop your personal view.
Main items we can see on the Daily Chart:
a) The price is inside a Weekly ascending channel and currently is against it (major reversal zone)
b) If we pay attention, there is another channel (light blue), and the price is close to breaking it with a bearish movement
c) If that happens, we will wait for a...
S&P has been trading inside a 4H Channel Up (RSI = 50.132, MACD = 13.590, ADX = 48.232) with the 4H MA50 (blue line) supporting. The negative fundamentals (China virus, disappointing earnings) ahead of the Fed Interest Rate Decision this Wednesday, can make investors sell initially (and ask questions later).
There is a strong break out level to consider and that...
Simple Idea based on SMA200 and RSI
Nowadays SPX is not tradeable anymore based on logic or mathematical ideas.
It could also gain forever :D
Target 2956 :D
Hi traders
If SPX will crack i will look for LONG
entry around D point - 3240 area.
If so, will take TP1 easy.
BUT we'll need to observe TP1 to hold and continue to TP2.
Weak Buyers on TP1 and we'll consider
enter SHORT.
one drive @ a time
Drive safe
Price end Big AB=CD then make a sneak attack and now we got a blue engulfing candle that probably will be deleted
Price can easily go under the D point of the AB=CD and then go to retest the daily Sma200
I also post shorts at DJ30 and Nas100 , all show strong tools that price need 2 go down.
Also, more tools that I don't have here at this chart are showing me that...
SPX is trading within a 1D Channel Up (RSI = 64.687, MACD = 28.070, ADX = 51.456, Highs/Lows = 0.2723) since the October 3, 2019 bottom. There is however one bearish divergence signal that calls for a sell towards the 3,070 1D Support if the 1D Channel Up breaks to the downside. That signal is the RSI which is trading sideways (at best) on a pattern that resembles...
Pattern: Rising Wedge.
Signal: Bearish if the Higher Low trend line breaks.
Target: 3,170 (potential contact with the 1H MA50) and 3,135 (potential contact with the 1H MA200).
