My strategy, so far, is playing out. I think we are facing a three tops buddah and 5190 pips was the head. We are probably going to sell off until Summer 2024 with a ABC move. My doubt is where the sell off will finish: 4550 or 4450? I have bought a short position (X20) at 5170 (SL at 5220) to close the trade in Summer. Watching next FED meeting to see how many...
Price closing the week under 5189 will be very indicative and send further signals of bear strength impending. The complex large degree is a Wave Y that is unfolding in 3 waves ; IMO we're currently in Wave Z of third wave of Wave Y. In laymen's terms, as long as price remains below 5189, the bias is that we should retest 5100-5056 area of support.
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Is US500 exhausting at resistance zone? As the price is been on high bull run but now it seems like price is lacking bullish momentum after printing double top pattern at resistance level and bearish divergence( on lower time frame) suggesting the sell pressure is about to start. If the bears took control , the 1st target could be 5100 What you guys think of it?
US500: The Market Has Been Growing without Corrections by 2% for 266 Consecutive Trading Sessions The S&P 500 remains in its longest rally since 2018 without a decline of at least 2%, according to data compiled by Bloomberg; analysts note that there hasn't been a correction of this size in 266 trading sessions. The positive sentiment of market participants is...
📊 The trend of the stock market is still upward, but due to the decrease in the upward momentum of the price movement, the probability of correction in the market is very high, if the range of 5150 units is broken downwards and the price stabilizes below it, the price may fall to the range of 5120 units🎯 , and in the case of strength, the range of 5090 units🎯🎯 . 📊...
I feel like a lot of discussions I've had here recently are with people who know the future and/or the one true and correct way to make assessments of markets. I'm not a big believer in knowing the future and I do not know many people with over 5 yrs trading under their belt who is. I'd like to have a good old fashioned trading discussion, if anyone else is...
BUY ABOVE - 5170 SL - 5160 TARGETS - 5178,5188,5200 SELL BELOW - 5160 SL - 5170 TARGETS - 5150,5140,5122 NO TRADE ZONE - 5150 to 5178 Previous Day High - 5178 Previous Day Low - 5150 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it...
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The SPX market has repeatedly touched $5179 several times. If tomorrow's PPI report turns out to be unfavorable, I anticipate a potential decline back to $5143, which would position it below the VWAP, amidst a bearish MACD condition.