You cannot predict the future. But you can prepare for it. Mega cap tech stocks have collectively lost USD 930 billion in value since Nasdaq 100 peaked on 21st March 2024. Will Super Sevens earnings turn the tide? Starting this week, the Super Sevens will start announcing first quarter results. NASDAQ:TSLA is up first on 23/Apr (Tue) followed by NASDAQ:META ...
No doubt everyone has heard a variation of the phrase: “Sell in May, return another day.” In Wikipedia it is written: “Sell in May and go away is an investment strategy for stocks based on a theory (sometimes known as the Halloween indicator) that the period from November to April inclusive has significantly stronger stock market growth on average than the...
Rally was short and sweet. Got 0.50. Fibo. Meta cracked it. Was fading all day already after the morning pump; just three up days. C legs typically extend farther and give a 1.62 extension, capitulation and panic prevail. May will be Bearish, at least to start, imo. Need to watch this correction carefully to gauge whether it takes ABC form or a more sinister...
A correction is coming soon. Maybe started this week. How low will it go? Nobody knows. So many Bearish Posts. Permabears predicting cataclysm. The End is Near! Doomsayers who repeatedly forecast massive crashes will eventually be right, once every 15-20 years. Almost always these guys are just plain wrong. Markets exist to print money. Money prints when...
S&P500 is bearish on its 1D technical outlook (RSI = 37.601, MACD = -44.800, ADX = 58.528) as it touched the 1D MA100 on Friday after more than 5 months. This calls for a short term rebound at least as every previous corrective wave inside the multi month Channel Up that approached the 1D MA100, it rebounded to at least the 0.618 Fibonacci level. Following our...
On the above 4-day chart price action has corrected 10% from the 4600 summer high to find support on the Golden ratio. A remarkable moment now exists to have long exposure. Why? 1) RSI and price action resistance breakouts. 2) Support on 2022 resistance. What a signal! 3) The Cup and Handle pattern confirmation is textbook. The handle breakout follows strong...
S&P 500 Rebounds after Negative GDP News Data released yesterday showed US GDP growth slowed to 1.6% in the first quarter of the year. According to ForexFactory: forecast = 2.2%, past value = 2.4%. Reaction to the news sent the S&P 500 mini stock index (US SPX 500 mini on FXOpen) sharply lower as market participants may fear a period of stagflation — a period...
Here are the actual #'s for you to see the 2024 Wall Street analysts forecasts on the chart. Once those are charted in the black rectangles at the year-end price targets, we can see where there are concentrations of estimates and where investors might pause and sell as the target has been reached for the year. And then I added in the 9% and 10% green lines to...
Tomorrow 04/25 14:30 USD Continuing Jobless Claims 1,810K 1,812K 14:30 USD GDP (QoQ) (Q1) 2.5% 3.4% 14:30 USD GDP Price Index (QoQ) (Q1) 3.0% 1.7% 14:30 USD Goods Trade Balance (Mar) -91.10B -91.84B 14:30 USD Initial Jobless Claims 214K 212K In case of the above mentioned data signaling no cool-down in the inflation pressure I...
The S&P500 is approaching the 1D MA50 (red trend-line) to test it as a Resistance for the first time after the April 15 bearish break-out. It has already broken above the Bearish Megaphone, the 4H RSI has formed a Channel Up similar to the price action's and so far this sequence of events is fairly identical to the previous correction of August 2023. That...
My thesis for market cycle top is that SPX is creating a massive ending diagonal since the Covid bottom in 2020. The March 2024 top of 5264.85 has reached the 0.5 fib extension, not exactly the 0.618 extension that I was hoping for. But the EW rules are still intact and the strong downward movement might be signaling that the local top is in. Now the rule for...
Hello traders! ‼️ This is my perspective on S&P500. Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I look only for long position. My point of interest is if price continue the retracement and then rejects trendline + S/R zone + FIBO 0.618 level. Like, comment and subscribe to be in touch with my content!
We are going to be looking at it through the moving averages and keep it simple this time... How are you feeling today? I am hoping you are having a wonderful Saturday. Based on what I am seeing in this chart, next week will be a super bloody, full blown red week and that's ok; the market moves in waves... We are talking about the stock market, the S&P 500 Index...
For those who have been here since 2022 early 2023 when there was so much fear in the market and we called the market had bottomed. I think it was the right call, even though we had a lot of naysayers. Now I think we are nearing the end of this rally which I estimate will be sometime in February 2024. I have two outcomes the green line below which I highly favor...
Hey my fellow traders! How's it go? Hope all of you are careful out there and making profits $$$. Some of you might be getting overwhelmed by some choppiness and rumors coming from all directions. I will do my best to share my spin on what I see on the charts and give some of you a perspective you might not have visited yet. Let's take one bite at a time so...
The S&P 500 Index has been edging lower for nearly a month, accompanied by a rise in volatility. From its all-time highs in late March 2024, the SPX has declined about 5.6%, which begs the question of a rebound. Interestingly, this week, several big names, including Alphabet, Meta Platforms, Microsoft, and Tesla, are reporting their earnings for the first quarter...
Yesterday market had a positive day after closing six consecutive down sessions. If traders can keep above yesterday's Close, we could see a positive session as well today. Level to watch: 5066 --- 5064 Reports to watch: PMI Composite Flash 9:45 AM EST New Home Sales 10:00 AM EST
Correction As you know, Market is inside a correction, and I suppose it will extent next week as well. First support was at about 5000 and low chance reaction to it. Next support will be at about 4800- 4820 and in my view, it can be a strong one for ending correction. Next week the market is going to be wavier because of releasing reports. I am waiting for the...