The Heatmap from yesterday ( SP500 ) shows the full story of last week. The stock market has been beaten down following additional FED hikes and announcement that more action can be expected from the FED. General Market Update Stock Market Falls Again The stock market was clobbered again Friday despite a weak pullback driven by the bulls. A few industry groups...
$SPX pulled back -0.69% this week after getting rejected by the highlighted trendline resistance. At the current juncture, $SPX remains above its rising 10/20-day moving average as it remains inside the month long uptrend channel, below its medium term downtrend line. The resistance to reclaim for further positivity in the market is at 4,080, the current...
$SPX staged an aggressive rally of +6.16% after better-than expected CPI data, rebounding off its 10/20-day moving average, The huge gains were a manifestation of pent-up hope that inflation has peaked and that the ultra-aggressive nature of the Fed's policy approach has also peaked. Briefly, total CPI increased 0.4% month-over-month in October while core-CPI,...
After reaching the higher pitchfork line (blue arrow) SPY went back to the same pitchfork line as earlier (red oval)--see related ideas and my notes there. At this point I expect it to go back up again. If that doesn't happen in a short time (1-2 weekly bars) SPY may fall more. If it does, which I expect, the it will likely break through the earlier resistance...
Both on weekly and monthly chart SPY reached a couple of pitchfork lines (in both cases a bottom one and a middle one) and is likely to bounce back up.
Nuy Dow Above 29000 For Target 29400 and 30000 Will See Bounce Around Closing and Reversal To Bullish Side
due to the hikes in interest rates, US markets are not getting that freedom to freely enter the market and make their positions. the hike is creating a fear among the people of not entering into the market, and keep on people selling their positions, making markets keep falling. "A BULL RUN can only happen when all the news has been factored". this explanation...
$SPX (S&P 500) vs $RSP (S&P 500 Equal Weight) – (Net High/Low +17) The stock market came into this shortened week of trading on a three-week losing streak. It looked on Tuesday as if that streak might be extended to four weeks, but there was an abrupt turn in sentiment that powered a strong move in the major indices over the last three sessions from 3,900 support...
This builds on my previous pitchfork analysis (see related idea which pointed to June 17th as the point of reversal and the start of the longer term bullish cycle). While that still stands strong, this is a smaller term analysis. SPY reached the intersection of 2 upper pitchfork lines (well, one bar off the intersection) after which it fell. Now it reached lower...
se can see 13000 near level in coming day... elliot wave this time give bearish signal wave 3 near to end....
The Russell 2000 's drawdown from its peak has been important (-26%), but not as severe as those seen during the dot-com bubble in 2002, the 2008 financial crisis, and Covid-19 at the start of 2020, when the US small-cap index plummeted by more than 40%. To reverse the current downtrend of the Russell 2000 , the underlying causes must also be reversed, which...
12150 to 11550 5% Swing Trade 600 Points Trade Opportunity. The bottom of this tremendous bear market could be in already. Nobody knows. if this was a short squeeze, the market will decline, right? If this was THE bottom or a temporary bottom, the likelihood that even if this was the start of a bull market, after a few days of straight upward movement, a...
The current recession will have most technicals flipping especially on CFD's so the bias that I have on NasDaq is open and explained clearly here.
Nice rally performed ytd by $SPY but I doubt this will stay up in the up direction trend. There isn't much strength to the rally with RSI decreasing and MACD crossing down on the 30mins chart. The bears should win this one, at least for a while. Disclaimer: I am not a professional financial advisor, I do this for fun. Sometimes I am right, sometimes I am...
SPY reached the middle (red) of the pitchfork line which is a likely point of bounce (and it already bounced off a bit from the line). On the higher end SPY reached the same width of the pitchfork channel (a little over). The red circles show the top and the bottom.
A mid-year check of the S&P500 futures ES1! show an uncanny resemblance to the beginning of 2008. This has been reiterated by many already over the recent months, and it appears to continue as outlined by others too. In the monthly log chart, there is an eerie resemblance that might bring the S&P500 to 2600-2800 levels, if by a similar magnitude to...
expecting a sharply reversal in wave (iii) of ((iii)), critical level at 15266
the push higher than 1901.35 will confirm that wave A of (4) ended and wave B is in play, critical level at 2458.855