Hello traders and investors! Let’s see how the SPX is doing today!
In my last video, we talked about one of the most important principles that govern technical analysis, the Principle of Polarity . It is a must-know technique for any trader that states once a resistance (support) is defeated, it’ll become a support (resistance) in the future, next time the...
Markup of S&P500. Bias is long but expecting alot of chop in this market before confirmed long entries. Trade only clear direction and clear bias. Currently market shows no safe RR setups either waiting for some noise then calm before rally.
Comment Follow Like Share
Volatility is a trader's lifeblood . Since 2009-- and the end of the 1990's for that matter-- volatility has been absolutely crushed on the race to zero commissions and iPhone trade gurus. Without volatility , there is no risk and opportunity (sides of the same coin).This has resulted in nominal yields across all major G7 economies falling to all time lows.
This morning ETH session seems to be bullish since it is trading above Friday's High.
Any test of Friday's High could provide direction for the day.
Level to watch 4407 --- 4405
Reports to watch:
US:PMI Manufacturing Final
9:45 AM ET
US:ISM Manufacturing Index
10:00 AM ET
10:00 AM ET
Materials (XLB) was the top sector of the week as manufacturing and core durable goods data showed increase demand and was confirmed in consumer spending numbers. The growth in the sector was matched by increased prices in metal commodities required to support economic expansion.
Energy (XLE) started the week strong and led several days throughout the week, but...
It isn't major big short. But market crash will occur.
Signal lost it's power and 3rd quarter's momentum to go upper side is no longer available.
Earning surprise season has ended also.
A lot of pro-traders will go on vacation too.
Chinese indexes officially in a bear market. European and American Indexes starting to print possible topping patterns as well. Was China the Canary?
Today I wanted to do things a little different so outside of our standard price action analysis from Friday I also take you guys through a full trend, pitch, fib and time...