S&P 500 index, in the previous idea we said will get the srrong downward and now we got the lowest price at 4500 so i expect will continue their downward trend because of all over the world had a bad news.
Entry : under 4555
Tp.: 4505 & 4482 & 4432
- Last month ended with a pinbar which is a "warning" of continued selling pressure into the next month
- So far this is the case , trend is still UP although on smaller timeframes it has turned over
- It will be difficult to say how deep the pull back will be but i will be looking at (4400-4440), the ambush zone from October as an area of interest
This move up is most likely a complex correction. (multiple zigzags). As such, when the lower line is broken it should lead to lower lows. The question is just how low and will that lead to a break of the greater trendline or a bounce and return to the uptrend. We will probably know in a day or so.
The alternate scenario is that this is a leading diagonal and...
I've been having fun with this market as it is moving so fast. BUT... as a result it can fool us. So how many Elliotticians does it take to confirm a count? Well you may never get any two to agree. LOL.
I said in an earlier post I would be watching for a 3 wave move down. Well I've labelled this move as so but it was so fast moving it's hard to really see it....
Today's SPX gamma distribution 9AM vs 5PM. As prices decline and put options move closer to the money their gamma increasingly becomes negative from a dealer standpoint (they are short puts). Note how the major "gamma barriers" move towards the left as options get rolled. That's bearish.
This is a Monthly chart, kicking off 2022 may be a rocky road for some.
This is a "shooting star" on a monthly chart with bearish divergence highlighted.
Price has yet to "revert to mean" for such a long time.
1% risk 2:1RR
Welcome to December!
Also looking at SPX, similar price action across the US indices.
No difference here compare the previous analysis that I share to look for sells from the top.
Price is in a larger, higher time frame correction,
and every time when price is at the top and form bearish reversal price action, its always good to look for sell entries down.
The world leaders have begun to create a synthetic crisis. This crisis is far scarier - the energy crisis.
It is not an accident that coal-fired power plants in Great Britain were not just shut down or canned. They exploded it without any chance to rebuild. It gave the island 44% of its generation in 2012.
Britain is developing a plan to build a 3,800 km long...