Looks like we will get a bounce from the lower trend line given couple weeks ago that matches up to the lowest WICK that started this entire bullish move months ago.
now lets see if she holds.
In the bigger picture I'm still looking for deeper correction and im still loading PUTS dated 10/13-10/20-11/19 and later
For investors hoping that US equities would recover their mojo once September was in the rearview mirror, October is proving a disappointment – so far.
The S&P 500 ended Monday’s session effectively unchanged. But it fell sharply soon after Tuesday’s open, yet again testing support at the bottom of the upward-sloping trend channel that has been building since...
SP:SPX chart we've been showing for a while now.
1 major edit, moved the top arrows a bit to the right.
The major difference now is that AMEX:SPY is WEAKER.
S&P 500 INDEX MODEL TRADING PLANS for TUE. 10/03
Since our published trading plans two weeks ago pointing out that week's 4505 level as potential top for the near term, the market has been in a free fall mode. Our models indicate 4310 as the level to close above for the current bearish bias to be negated.
The "higher for longer" monetary policy is yet to begin...
Based on my analysis, the price has hit the lowest point within the bullish channel. I have reason to believe that it will continue to move towards certain predetermined areas.
Hello traders ,what do you think about US500? SPX500 has reached the support level and the bottom of the ascending channel. It is expected to grow from this zone to the specified level
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SPx500
if it falls above 4296 in this direction will rise to 4312 then 4334 then 4353
but if it is below 4296 the direction will go down 4279, 4259 then 4240
Pivot Price: 4296
Resistance prices: 4312 & 4334 & 4353
Support prices: 4279 & 4259 & 4240
timeframe:4H
The S&P500 (SPX) is testing the bottom (Higher Lows trend-line) of the 12-month Channel Up pattern. It is vital for the uptrend that the following Support Cluster holds, as if broken, the next Demand/ Support Zone is seen considerably lower, in the low 3800s.
Back to the Support Zone. Besides the bottom of the Channel Up, we have the 1D MA200 (orange trend-line)...
The primary expectation is that wave X has finished and that we are doing an ABC pattern down as wave Y. We see two equally valid scenarios. Firstly, we might have finished wave Y as an ABC. Secondly, wave (v) of wave ((c)) is still coming.
The S&P 500 index is currently poised at the precipice of what could be its most significant drop in 2023. It is forming a low base, indicative of a bearish continuation pattern, right at a major trendline and the 200-day moving average, also referred to as the BigRed.
If and when the S&P 500 breaks through this robust support, it could trigger a substantial...
Chart Session... 🙌 Tune in to see what i will be trading for this Week! CHART TIME! Let's see what opportunities are showing 🙌 8 years of experience 🏌🏽📉 ❤️Please support by liking/boosting the stream, thank you!❤️
Watching some charts, drawing some lines, talking stocks/crypto and more, possibly playing guitar, more randomness.
Feel free to request a stock or crypto, for those of you that held your options way longer than you should have.
Not Financial Advice.
