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After putting in a retracement to retest previous structure lows the S&P is now trading at the right should of what may turn out to be a head and shoulders bottom pattern.
The head and shoulders is a classic reversal pattern & IF completed I would predict that we're likely to retest the previous structure highs which line up at a one - to - one measured move & a ...
S+P 500 Chart in various time frames has the potential
to be looked at by the "Buy The Dip" Bulls as an inverted
Head and Shoulder's Pattern,which if realized could set up
a trade able bottom at yesterday's close of S+P 2726.12
My own analysis at this point, tells me that any rally attempts
are likely to fail, anywhere between 2740 and 2800,
a wide range, but ...
SPX is in the final stages of completing the inverse head and shoulders pattern. I project no movement through close tomorrow, and the start of a recovery rally on Thursday
Create an alert and watch closely SPX if H&S is confirmed would be a good trade.
Further graphs to come
Time is here for market decision. Either we head back to new highs or we faulter going into 2019. It’s going to be an interesting Wednesday!
this will be breaking the neckline, if it forms a right should at 2710, it's iH&S
As you can see, from the chart that the current trajectory of the 50 and 200 day SMA's are indicating that by mid December we will have us a Death Cross in the Broadest market measure...the S & P 500.
This could however happen sooner or later than 12/12/18. This is given that the SMA's stay on their current trajectory through 12/12/18.
A larger than expected ...
Spring and Phase C action, setting up for a bigger rally on the upside.
Price is touching the 9 months old trendline.
Have a sign of respecting the demand zone.
0.618 level has been tested twice, if there is a breakout on good volume, next target is 0.786. Current price is at Price/Volume support, if price breaks below the support, the S&P will fall.
Shoulder support right around 2718. potential recovery as price breaks neckline at 2815. keep an eye out on the markets.
If we take the current position as a new wave, now the stage of correction
The impulse is clearly visible (it is A wave), so there must be an A-B-C or A-B-C-D-E correction, with target 2800 and back to 2698
We going to new high on SP500 .
Printing da head and shoulders. Tomorrow could be make our break. Hard gap down would be baaaad. But for now, still long.
A lot of money in the market. It's time for a "haircut"
Target: 1576 (-43%)
Intraday target: $2710
its been on a Bull run for over a decade .and it has Regular Bear divergence plus .it seems shaky here .not seeing the market buying the dips .Bulls acting exhausted .tariffs with China .some company’s doing buy backs .Fed seems not to be able to lift interest rates without causing a slump .so they have been postponed to December 2018.could be seen as a sign of ...