Assuming the current market correction is a scaled down version of the 2000-2009 correction, we likely have one more leg up to complete the pattern. The RSI hit a bottom at the end of the A wave down in 2002 and 2022. Since this time the RSI had been producing higher lows with the exception of one cross in May 2006 and August 2023. This appears to fall in line...
The month of February saw an incredible bull run up to 5110.
The high was created on the 29th of February and as of March 1st, the high has not been broken. There is bearish divergence on D1 and H4.
The upward channel is at the risk of being broken after 2 months.
We have taken a short position at 5104 with a stop loss at 5150 and a reward of 4750.
Good luck!
The SPX has remained relatively stable since our previous update, trading between $5,000 and $5,100. In the meantime, its bullish momentum slightly decreased (reflected in the declining ADX on the daily chart), and Stochastic, MACD, and RSI remained bullish. In addition to that, the VIX dropped but has not distorted the structure with higher highs and higher lows....
BUY ABOVE - 5100
SL - 5094
TARGETS - 5110,5120,5135
SELL BELOW - 5088
SL - 5094
TARGETS - 5081,5076,5070
NO TRADE ZONE - 5088 to 5100
Previous Day High - 5100
Previous Day Low - 5062
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...
In this video, Anthony Crudele discusses why event contracts can be a good additional tool for traders to use on major event days, such as FOMC and on the last trading day of the month. 📈🔧
My next SPX target for the SPX is 5200 which I found using Elliot Wave, Fibs, Trends, and other TA to confirm.
I think the Market will be bullish tomorrow (Friday) and will continue into next week and take the SPX up to its next leg around 5200.
I also see Bitcoin consolidating as it gets ready for its next leg up as well... I see Bitcoin hitting 100K before...
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Customize your market experience with us! While we specialize in futures, we're here to dive into the thrilling worlds of Crypto, ETFs, Equities, Bonds, or any other market that piques your interest. Just ask!
Further to my post on how the market could (Probably) most efficiently gain liquidity from bear stop losses and new chasers of the bull that, here's the big bat spike out pattern that could form and support this hypothesis.
Here was the bat into the final high of 2007.
So, I wanted to try something new.
Let's take a look at the SPX chart.
I plotted pitchfork by taking the median line as the starting high of February 2020,
and setting the bottom at the downside and the ATH in January 2022.
And I discovered a newly published indicator Whalemap .
it tracks seller and buyer activity through order analysis.
In December at...
Join award-winning, 12x Prop Firm trader, Peggy - as she shares how you can use Fibonacci retracements and extensions to trade the markets effectively.
I don't believe in the end of the world, recession maybe and that part of the cycles but 6000 first in high volatility environment.
Watching important levels and trying to trade them.
SP finding resistance at 4600, probable consolidation around 4500 to relax the RSI before heading towards 4800 ATH. Double Top will be on CNN, permabears will claim victory as we...
