Uptrend
After passing the high, I'm waiting for a pullback for confirmation the breakout.
After the pullback, we will be more confident of climbing again. I've closed some of my positions for sure and waiting for the result.
I host daily Pre-London live forex market analysis sessions to guide and educate you through the daily process of trading. I look at the major currency pairs and Gold. I will also analyze other pairs or instruments based on request from the audience.
It's been a while since I updated followers on the SP/ES. I recently moved my daughter to Spain after graduating from college...so my wife and I are really just getting used to an empty house.
Nonetheless, let's get into it.
First and foremost, the primary circle B wave will be taken off the chart, and that clears things up for us. Why does it clear things up?...
Short term Elliott Wave View in S&P 500 (SPX) suggests that rally to 4793.3 ended wave (3). Pullback in wave (4) is unfolding as a double three Elliott Wave structure. Down from wave (3), wave ((a)) ended at 4752 and wave ((b)) rally ended at 4776.9. Wave (c)) lower ended at 4731.17 which completed wave W in higher degree. Wave X rally ended at 4754.33. Index then...
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Sr. Technical Strategist Michael Boutros highlights the targets & invalidation levels that matter on the technical charts into the weekly open.
@MBForex
Apex of the triangle short Into a bear flag. With confirmation that volume is dumping through my money flow levels. We will likely retest 480-475 by close this Friday
The price is currently trading sideways within an uptrend. We can see a bullish momentum slowdown around the resistance area. This can mean two things, the bulls are taking a breather before pushing higher, or bullish momentum is drying up fast and we might see a break of the uptrend line. I will look at lower timeframe to get a microscopic view, but will remain...
Nice dragonfly doji day candle. I believe we will fill the gap tomorrow if we can hold 4730. The LL (lower low) today was major. However, the reversal was strong on the RSI on 5 min chart. So I'll be looking for a hold above 4730 and then another hold at 1/17 HOD (high of day) of 4745.
