Descending Triangle has formed on Weekly for the Russell 2000 Index. The moving averages are all touching and seem to be at deciding point 200 = 21 =7 MA We need to wait for the official breakdown which will take the price to a target of 828. There are major warning signals for a Recession in 2024 with the inflationary pressures in the US, UK and Russia. We...
SPX Weekly Volatility Analysis 12-16 Dec 2022 We can see that currently the implied volatility for this week is around 3.16%, up from 3.08% from last week according to DVOL data With this in mind, currently from ATR point of view we are located in the 71th percentile, while according to VIX, we are on 31th percentile. Based on this, we can expect that the...
The overall US equity market is still having a hard time stabilizing and catching its footing, however, if we examine the major US indices closer we do notice more and more relative strength coming out of the Dow Jones Industrial Average. This past week it never took out its September lows, the MACD momentum oscillator continues to climb aggressively, and on...
SSO is a safer 2x leveraged etf of SPX than SPXL. It recently formed slight divergence & a big engulfing candle, probably due to oversold RSI & also short coverings after Thursday’s dump & pump with investors betting massively on both directions triggered by a high CPI report. Prices may return to the neckline (return to mean) next week. Not trading advice
Indicators: 200EMA, Bollinger Bands, 200EMA & RSI Trade Convictions: 15MTF 200EMA Rejection Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for...
DXY still Strong Uptrend with 3 CandleS Daily Strong Bullish. If price breakOUT Supply Zone, then DXY will continue up until 116 as Target #1. As we know The Fed will continue raise the interest on 3rd Nov 2022, I will update the DXY Daily Chart to you periodically.
Another continuation of the downside on the cards, we haven't shared a losing prediction forecast for this pair and we hope to continue the winning streak. It is a strong downtrend so why not rally down with it again? Wait for price action in a lower timeframe, preferably a double top, and sell away. Follow and like for more trade ideas and signals.
Even though the S&P broke the previous summer low if Monday opens higher we can expect that this was a fakeout and the double bottom pattern will come into play. The overall fundamental picture is more critical and dominant than some lines on the chart. However, still, it can be a high-risk, high-reward trade that can come into great use if we already have some...
Dow e-mini officially entered bear market territory breaking below 20% decline limit & the weekly wma200 line. It is the only major index that made a lower low & confirmed by the transports DJT. Dow, with a lot of defensive stocks, has been holding the strongest all this time & I think it will be the last to capitulate before the market bottoms. (After market...
US30 Long: We can see the price has previously tested the psychological level of 30,000 previously on the 19th of June and was heavily rejected. Price is now heading back to this level, we can see we now have nice support and 200 MA coming up to meet this level. Due to positive U.S CPI data, we saw significant bearish pressure on U.S equities meaning we now have...
This is a SPY weekly chart after the Friday FED speech signaling continued hawkishness till inflation drops to 2%. Spy has a history of making bulltraps (higher highs on this weekly chart) before plunging as seen in my several boxes. It was rejected by the black downtrend line from the 476.44 ATH (see black falling wedge) & also rejected by the horizontal neckline...
The signal is valid only if the support is broken, sell the pullback. Just follow the arrows for a potential target. Please like and follow for more profitable setups.
US Markets This morning I thought I’d try something different. Updating my coverage list in one post. (Comment if you like or would rather have dedicated posts). I’ll start with the US Markets. The main chart above shows the S&P Futures advancing or consolidating at the highs. I am starting to see a more bullish or technically constructive article flow from...
To me it's nuts to be on the long side at this levels. I understand, we declined from 4800 to 3600 and now we're only at 4200. I get it. How would you like it if we were at 3200? So, right now we're topping or have topped. I say that because Topping (unlike bottoming) is a process versus an event (like bottoming). Topping is a function (especially in an...
The SPX has been strong. Despite the economic reports, The Fed raising interest rates, COVID-19, Monkey Pox....it's like another Sequel of the Mad Max Movies out there. We topped right at the 1.382 Fib last week and retreated. Typically what happens is a move down to the 1.0 at (4048) then a final rally to the 1.618 or even the 1.786. The target area for this...
Caution is most definitely warranted. This high we are carving out now technically could complete all of wave 4. I am projecting wave 5 of C of IV down to maybe as much as 3200. However, as of now I am counting this only as the "a" wave of IV so a retrace and a move higher is what I am anticipating, but the bulls must hold the target area on any retrace. Best...
As I’ve warning several times that the worst is not yet over despite many bear-market rallies, SPX was rejected by the blue dotted midline of the upchannel from 2009 & was unable to fill the downgap near 4k which instantly became a resistance now. BEWARE: lower lows are coming with SPX barely holding a previous low @3820, a FIB 0.382 retracement from pandemic low....