5% drop from yearly highs was reached, pushed in 25%.
10% drop from yearly highs was reached, pushed in 50%.
deviated from plan, pushed in 100% when 10% was breached instead of 50%.
utilizing minimal leverage, 1:1.6 leverage, will work leverage down with additional deposits to 1:1 (means no leverage used) at the very least.
expect the SP500 to reach at least...
AMEX:IVV
If the ETF price moves above the bullish line, set around $439.15, there are three potential upside targets to watch:
Target Price 1 at $442.59.
Target Price 2 at $444.94.
Target Price 3 at $448.28.
Conversely, if the ETF price breaks below the bearish line at $435.53, there are a couple of potential downside targets:
Target Price 1 at...
The S&P 500 had dropped about 27% from Jan to Oct 2022. From its 13 October 22 low It is still in an upward trend toward a high of about 500 sometime in January 2024
Closed below 200 day yesterday and pretty clear follow through today. You can see that that the price tested and is now back in the original down channel before the breakout in January. My guess is that we are at least going to test the center of the red channel and likely the blue trend line. Could even go as low as center of orange channel and test the purple...
Crazy two weeks with some massive price swings. However, all said and done the down trend that started in January is still intact. Big test yesterday of resistance but ultimately failed with the gap up closed and no follow through after Fed rate hike. Looks like a good old pump and dump. The gray region (connects to gap up in 4/21) that I drew seems to be a very...
If you look back over this long correction since the beginning of the year, every time the price closed with a red candle below the lower bound of the 20 day moving average the price continued to move lower. I don't see why this time is any different.
I would expect support at the $380 and maybe down to the $375 level. That would bring the S&P right around the...
You can see that over the last two days that the S&P is jumped above the 200 day on Wednesday huge rally, which also broke above the April 2021 gap. However, today saw a rejection of the resistance of the down channel that started Jan 2022 ATH. This channel has rejected price solidly 2x times now.
The most probable thing would be to see a rejection and to head...
Pattern looking a lot like August. With many traders taking vacation over the next month and lower volume, this would be a good time to see the market rally.
S&P 500 is currently finding support at the bottom of the down channel. It is also the 0.618 fib level. Today's price action is up and trying to bounce off the support line. I personally don't think this is the bottom, but this is an important place to watch. We could get a good rally off this trend line like back in the summer. However, the recent short rally was...
Current price action suggests test of 20 day SMA after finding support at the bottom of the channel and touch off the 200 week SMA (see my other posts on 200 week SMA). The new bullish counter rally is not really confirmed until it can hold above the 20 day and break the blue trend line. A bullish sign would be to break out, retest the 20 and the trend and then...
Here is a look at the 20 and 200 WEEK moving average on the IVV ticker. Note how the S&P has reliably tested the 200 week MA during strong corrections over the last 12 years or so. Rarely does the price go much below. It also seems reasonable to me that we both get a retest of the June low and a more significant test of the Feb 2020 high.
If we see this, then...
The S&P bounced off the channel support today. It also tested the 1.236 fib extension off the most recent peak. Both signs that a bounce was coming. There is also a gap that looks like it could be filled. In addition, this would be a good place for a test of the 20 day moving average by end of week if not early next week. Real question is will this hold or will we...
Relative movements in price between 2-4pm for the S&P 500 on the 15 minute timeframe.
2-2:15pm: -1.85%
by 3pm: +2.38%
by 4pm: -3.08%
Day ends at -1.68% overall
You think that all of your charts and analysis mean something, but at the end of the day the price moves based on what the big trading firms with their trillion dollar portfolios and their algorithms...
Following up on my 8/17 idea on the expected pull back in the S&P. The gap down below the 20 day average is a very strong sign the rally is over. The only question now is how low will it go before finding support. First stop may be the horizontal line that was a gap up. I would not be surprised for a test of the most recent low. I personally hope not lower than that.
Is this the end of that rally for the S&P? I see several strong indicators that this could be the end for now and a pullback is coming.
Testing 200 day moving average
Testing top of down channel
RSI very oversold
Here is my latest technical analysis for the S&P. Been stuck under the midline of the red down channel since May. With a gap down today and the midline and black trend line squeezing price, it looks like the market is getting ready to make its move Friday or Monday.
I see two key levels that we are likely headed towards. We could rally up to the the resistance...
IMO it is because the S&P is testing the center line of the purple channel as support. This trend line has been the core support for the S&P since 2009. You can clearly see this support in the chart. If the bull rally is to survive, then it needs to hold this line. What you are seeing right now is a classic case of the algorithms and hedge funds fighting over...
Weakness this past week has brought the S&P down to test support for the green channel. A good finish to mega cap earnings this week could keep us in the channel. It is not obvious how high we could go, but we could get a good bounce and tread water until the next earnings period. However, any more average or worse earnings will send this thing lower down to at...
