The S&P bounced off the channel support today. It also tested the 1.236 fib extension off the most recent peak. Both signs that a bounce was coming. There is also a gap that looks like it could be filled. In addition, this would be a good place for a test of the 20 day moving average by end of week if not early next week. Real question is will this hold or will we...
Relative movements in price between 2-4pm for the S&P 500 on the 15 minute timeframe. 2-2:15pm: -1.85% by 3pm: +2.38% by 4pm: -3.08% Day ends at -1.68% overall You think that all of your charts and analysis mean something, but at the end of the day the price moves based on what the big trading firms with their trillion dollar portfolios and their algorithms...
A look at the big picture using 1M timeframe. In an attempt to remove the daily noise in price, you can see that even after a rough 2022 so far that we have barely scratched the surface of how bad it could get. The thing that I noticed is that the current price action looks very similar to April 2001 and March 2008. Looking at all 3 you can see both had a several...
Here is my guess for bitcoin. The trading channels are showing that if bit coin loses the current support the next stop may be $10k. 1D with 20 and 200 day moving average
Following up on my 8/17 idea on the expected pull back in the S&P. The gap down below the 20 day average is a very strong sign the rally is over. The only question now is how low will it go before finding support. First stop may be the horizontal line that was a gap up. I would not be surprised for a test of the most recent low. I personally hope not lower than that.
Is this the end of that rally for the S&P? I see several strong indicators that this could be the end for now and a pullback is coming. Testing 200 day moving average Testing top of down channel RSI very oversold
Comparing trading channels to key price levels in the NASDAQ. Price has already hit 30% pull back. Given inflation and rate increases the NASDAQ is going down more, at least to the bottom of the green channel and probably touch the top of the black channel at around 40% loss. We should see strong support in this area as it is both channel support and Feb 2020 top....
Simple trading channel technical analysis. See my post from 5/15. After consolidating along mid line of the blue channel, bitcoin lost support this weekend and head down to at least the bottom of the channel. Look for bounce at the 20,000 level, maybe test 19,000. Longer term could see drop to the green channel, but 11,000 looks like very strong support.
Looking at my technical analysis, we were due for a rally last week after double bottoming at the support of the down channel. Major US holiday weekend with low volume are usually times to see these kinds of rallies. I would expect the market to retest the gains made now that traders will be back, hence my guess at a retest of the April 5th, 2021 gap up area (gray...
Here is my latest technical analysis for the S&P. Been stuck under the midline of the red down channel since May. With a gap down today and the midline and black trend line squeezing price, it looks like the market is getting ready to make its move Friday or Monday. I see two key levels that we are likely headed towards. We could rally up to the the resistance...
Here are my core trading channels and trend lines for the NASDAQ. NDQ is currently holding just under the midline of the down channel. You can see that we had a bounce off the support of the black channel and midline of the purple channel. NDQ is still looking pretty oversold, but at a clear decision point. IMO, a retest of the recent low for support is most...
Simple pitchfork TA of the S&P starting around 1950. Before 1950 the data on TV seems to change how its plotted between 1W and 1M. black center line solid blue line is 1.0x dashed blue line is 0.5x solid red line is 2.0x dashed red line is 1.5x The analysis seems to show the S&P currently back under the 1.0x blue trend line after a being above it since April...
S&P 500 bounced off a major trend line on Friday. The start of Friday saw a drastic drop to test and a quick reversal to reclaim support. So far on this Monday support is holding. IMO, we could see a rally here as we both have support and market is pretty oversold right now. I don't think it will go very high as the gap above has shown to be strong resistance....
IMO it is because the S&P is testing the center line of the purple channel as support. This trend line has been the core support for the S&P since 2009. You can clearly see this support in the chart. If the bull rally is to survive, then it needs to hold this line. What you are seeing right now is a classic case of the algorithms and hedge funds fighting over...
Pretty simple analysis for bitcoin. The most recent peaks the last 2 years have established a new channel for bitcoin. Right now, you can see it clearly testing the midline of the new channel. Week timescale 1D timescale
Here you can see the core trading channel for the S&P 500, and that Friday was a strong bounce off the bottom of the channel. However, the 4040 level has been a strong resistance/support level. Not obvious on the US500, but in the SPY this red area is a gap up that was not filled until May 9th. That region was tested several times in the days following that. You...
The selling in the market seems to be increasing by the day. It looks like we could see some support at the current price, but looking back at Sept 2008 shows that we could still be in for a serious drop. IMO, so far the patterns are similar, except this year's correction is far more aggressive. I noted on the cRSI where they seemed to have a similar pattern. I...
Yesterday's big sell off allowed the S&P to close the gap it created back on April 5th, 2021. You can also see that it is right around the mid-line of the 2009+ trading channel. History shows that the mid-line should provide some support and that we may move sideways along this line until market decides if it is going to bounce up or break down. 20 day VWMA and...