As if to answer, the "Ascending Wedge" breakdown in the market
the S+P 500 has now formed a countering "Descending Wedge ( See the Chart Illustration)
The Descending Wedge Pattern is now strongly in control of price,
and keeps moving it down inside the trend lines of the wedge ( Again See Chart Illustration)
My own traders instincts if you will , tell me...
My primary Elliott wave count that was illustrated in my prior SPX Elliott wave post has been eliminated with today's SPX move below 3028 which was a supposed wave "1" up.
While the primary count is no longer valid, the case for a continuing bull market is still the most likely scenario. This is based upon the bullish momentum and seasonal patterns discussed in...
Hi, today we are going to talk about SPX500 and its current landscape.
We can observe at this timeframe, a confluence of technical factors, that entail a setup which might drive this asset to a new movement. The details of our analysis are highlighted in the chart above.
Want to know more about our trades and ideas? Join the Traders Heaven today.
Thank you for...
I haven't seen market action like that since the global financial crisis, things just falling off the cliff.
This is mainly as a buy in point for my 401k (cash right now). After watching the market today, there is no way in hell that I'm buying into the market until the following:
- TSLA hits $300
- A vaccine is found for the virus
- Trump is re-elected
It is...
I don't need to talk about the obvious. This has been a severe correction based on how fast the drop has occurred. My idea a day ago highlighted the fact that NO ONE should be entering the equity market on the long side until a break above 3225. This deemed to be correct.
At this point with seemingly no good news insight, the next stop (with hopefully bounces...
Remember when I said a few months 80% retail traders were short DJI & SPX? Well they kept hodling to their losers, and probably adding to them.
Well... this week shorts have dropped by 30 to 40% and now there are more longs. They held onto losers forever, and then exited the very WEEK the price went down!
Breakeven bagholders. The typical really dumb bad...
We broke the key level of 3026-3030 and the psychological level of 3000. DO NOT ENTER LONGS OR YOU RISK BLOWING YOUR ACCOUNT WIDE OPEN
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There is a high likelihood the sell-off will continue Friday and into Monday and potentially even Tuesday of next week as this black swan event of the coronavirus lingers all over the global markets (world-wide, not just the...
hey guys whats up as i ve been saying for the past two months this boomer index is primed for a mega dump the bull market has ended and the bear market has just begun. Prepare for the worst should get a bounce to 32xx atleast before resuming doom
exit while you can. Hide yo kids
Hide yo wives. THis is only gonna get worse
After the S&P 500 broke below its parallel channel, it has been rallying today on analyst speculation that the Fed might cut interest rates as insurance against a recession this year. The FOMC FedWatch futures are putting the likelihood of a rate cut at 75%, and I expect that number will climb in coming weeks. Expect a good 2-3 day rally as the S&P comes back up...
Since my last post before China Market open, SPX was trying to go up and my script confirmed it. However couple of hours later when China market opened in red, my scripts reversed course and PSX fluctuates but now is going down. As always, do your own homework.
Since lunch time, there has also been new development in japan, Korea and lay-off announcement from...
We caught the drop as usual... I appreciate your support, so I received many messages and here is an update to the S&P 500 Index chart.
But first... Previous analysis | Feb 24 | S&P 500 Index Incoming Drop | Heading For 3258
S&P 500 Index Chart Analysis by Alan...
How far the market drops? Look at the SPX chart and you can see the Thermoball balls of a yearly graph showing you exactly.
Here is the biggest macro economy facts that supports mt script prediction:
Seizure of the credit market has started and not many people paying attention to it. The credit lenders stoped loans to companies exposed to supply chain disruption...
Ideas
- COVID-19 already in the price
- Expecting FED to cut the rate and pump more liquidity, which markets still not priced in
- Expecting the Vaccine and anti-virus are coming soon
- Heard behavior started, but may not be done yet
- RSI Daily already oversold
Target
- expect S&P500 to rebound within 3-6 month to close the Gap at 3328 or 10% upside
Standard and Poor's 500 Index is a capitalization-weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The index was developed with a base level of 10 for the 1941-43 base period.
