Try conving me that she does not like channels or shop at Chanel ... lol
This is what I see
We still need to go and test both sides of the yellow channel
We are bullish and bearish on various timeframes...
This is gonna be fun!!!
Hi Traders !
Previously, The SPX500 Price Formed a Bearish Double TOP Pattern.
Currently, The Price Broke The Support Level (5081.27 - 5051.43).
This Key Level Becomes a New Resistance Level !
So, I Expect a Bearish Move 📉.
TARGET: 4976.00🎯
huge volume on SPX yesterday. highest I have ever seen since 2022. there were only couple of days in 2021-2022 that had such a huge volume. usually it hovers around 20k-30k total contracts. but yesterday it was 115K. whoa
could this lead to further downside? or was it pre-positioning from people who knew about today's events beforehand?
Stocks are vulnerable to a 5% 'air-pocket drawdown' as greedy traders short volatility.
Tuesday's stock-market pullback on February, 13 after a hot inflation report actually showed us something else about the market.
It turns out that it did… an overcrowded short side of the options market which was reminiscent of the 2018 and 2020 'Volmageddon'...
I expect a 12345 retracement or a ABC correction to 3800 by October-November 2024.
After that, one year of a new rally to 4800 pips.
And then, the really crash by 2026 with a bottom of the market by 2027.
Let´s see.
Now, little by little: It´s my idea of a correction to 3800 in 6 months time correct?
On Thursday, the S&P 500 and the Nasdaq experienced subdued trading as rising Treasury yields put pressure on stock prices. This occurred while investors analyzed remarks from Federal Reserve officials to gauge the future direction of interest rate cuts. Recent data revealed that the number of new unemployment benefit claims in the U.S. remained at low levels last...
US stock index futures were firmer in early trade this morning. It remains to be seen if history repeats the market action from Wednesday and Monday, when early gains evaporated as the sessions progressed. Yesterday’s price action saw all the US majors rally early on, before reversing sharply later in the day. Tech stocks were hardest hit. NVIDIA ended the day...
Hello Traders!
I expect a bullish on SPX as we see the imbalance fill and a perfect retracement from the OB, considering this movement a signal for weak bearish and a strong bullish sentiment.
I expect the price to rise until the 5275 resistance level, with a potential set of a new All Time High.
Please LIKE 👍, FOLLOW ✅, SHARE 🙌, and COMMENT ✍ if you enjoy this...
S&P has been down four straight days. Also, yesterday S&P closed a gap from February which coincides with a support level.
Level to watch: 5074 ---5072
Reports to watch:
Existing Home Sales
10:00 am EST
EIA Natural Gas Report
10:30 am EST
This morning we continue with Eurogroup meetings and comments from the German Bundesbank President and in the afternoon the monetary policy meetings (IRFMP) held in Washington D.C. will be held along with statements from the FED Chairman in Philadelphia and local manufacturing index data, along with US unemployment rates. This data is high impact, along with US...
I've just faced an unpublished idea about SP:SPX . Will publish it in the mid on the road. )
Does not constitute a recommendation.
#furoreggs #investing #stocks #shares #idea #forecast #trading #analysis
If you want to discuss, please subscribe and challenge this point of view.
Our last call on the S&P500 (SPX) couldn't have gone better as the Bearish Megaphone pattern we expected (April 05, see chart below) was eventually materialized and easily hit on Tuesday our 5050 Target:
At the moment the index is below the 1D MA50 (blue trend-line), which has been the main Support since November 03 2023 and is headed towards the 1D MA100...
Here is our detailed technical review for SPX500.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 5062.0.
Taking into consideration the structure & trend analysis, I believe that the market will reach 4928.9 level soon.
P.S
Overbought describes a period...
