Here is our detailed technical review for US500. Time Frame: 17h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 5136.3. Considering the today's price action, probabilities will be high to see a movement to 5042.5. P.S Overbought describes a period of time where there has...
This is the chart of SPX/GOLD, and you can see there are times when SPX outperforms GOLD, like the era that began from September 2011 until now, and there are times when GOLD outperforms SPX, like from the beginning of September 2000 until September 2011 . In the time that SPX outperforms , we know that there are usually lower interest rates, higher economic...
There has been a 12 week uptrend channel in the H4 timeframe starting from January 2024 through to today. The S^P is now showing weakness as follows: 1) There is a triple top on H4 at 5190 2) Bearish Divergence 3) Resisted for 2 weeks in a row 4) Harmonic pattern to sell Remember when a long bull run is broken, the bear run will be of a similar length. Can you...
Traders have made the ultimate mistake, they were caught sleeping on the steering wheel. And after missing the trend, they attempt to enter it again, only to realize that they have trapped themselves. A question arises: Were they sleeping or are they performing a suicide attack? SPX is like a sharp kamikaze plane. Perhaps of Japanese origin, closing in to Perl...
We can see the trend channel on the 4H and hours before the NYSE ope we will be sitting at key diagonal support levels. S&P tends to flash crashes in march and it won't be big of a surprise if we see a quick 4-8% test to lower levels. We also have the FOMC this week which could be the catalyst for such a move. The current bullish move looks exhausted already and...
The US500 index has been rising within a rising wedge pattern since January 17th. However, this strong bullish trend has begun to show signs of losing momentum as overlapping waves develop. Overlapping waves are a key indicator of a potential reversal, signaling a loss of momentum. Additionally, the rising wedge pattern itself is a powerful reversal...
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Bitcoin trend, key support/resistance levels and expectations for the coming week.
Bearish idea for spy leading into Q2/Q3! MY favorite SPY chart right now
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Hi guys Today market behavior might be so surprising because we are in a decisive juncture of most of trends (Gold, BTC, OIL, EUR, DXY and...). In this case I need to emphasize SPX chart as a leader to decide about next weeks and months of the markets. Impulse primary counting is popular amongst elliotticians (Red Primary Counting) but an Ending Diagonal is an...
#Spx priced in #Crudeoil Probably one of the most important capital flow charts out there. Probably one of the most massive head and shoulders topping patterns morphing into existence! A breakdown of this ratio will fuel #curdeoil #uranium #gold #silver #copper upwards!
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Just hold yer' horses in here podners. Take profit if you havent and build capital. Healthy 2-3 month pullback is brewing in the works, the bottom of which will be a very profitable entry.
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Included on the chart are both Genesis and COVID Fibonacci Clusters. The current key support hovers at 5109.5, but one should be wary of the second necessary support at 4999.5 which the bullish trend must hold at all costs.
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Sr. Technical Strategist Michael Boutros (@MBForex) highlights the targets & invalidation levels that matter on the technical charts into the weekly-open.