came back up to the .886 where it got rejected... expect some chop around the trendline (white) before breaking next fib and heading to the .618 eventually.
If this was a parabolic trend it needs to build a "base 4", ideally in the mid zone towards the next level (c.a 5k) before a blow off top above the channel to complete the parabola. NOTE: it may well NOT BE a parabolic trend and just a compounding market staying in channel for much longer. This is not a "long here right now"... but a long term bullish context...
This is a scenario I don't put too much faith in right now, as the bullish momentum seems completely unabated... but as we all know, markets can be tricky and fast in the face of complacence and leverage... so, in case an "event" (like ark blowing up or something of the likes) could bring spy to retest the early fall breakout 358/353ish making it the BTD...
expecting a local top next week around 4255/85 , then one more leg up, probably one last pullback and then the first vertical move which should allow for some kind of "crash" and retrace 115/135% of the whole move! do not take this price prediction, rather as pace of movements!
closing 4h above 3430 likely invalidates the patern... otherwise look for this H&S to complete soon! daily money flow seems to have topped as well (not seen in this houlry chart)
$eth spike and channel targeting about 980 or previous "bullish breakout" retest.
eth should stall just above 3000, for a while at least
We are nearing a third red month on Ndx... is it ready for another march 2020 like crash? This is not a call! Just never say never! :D
Price to Book ratio Cup & Handle formation might be telling just that...
Market is in secular Bull, up trend intact in all time frames, daily, weekly, monthly, quarterly!
we are bearish long term GOLD. But there might be a good long opportunity here. Important to not let it go much the other way, as primary trend is DOWN.
Looking to short above 1950 Tp1 : 1480 Tp2: 1315
spy brokeout from the megaphone... a failure to keep going higher and return to the pattern brings a target of at least 300. Neutral at the moment.
looking for a sharp pullback in spy/spx before full rally mode comes back...
No positions at the moment, tactical shorts with precise entries preferred!
A possible inverted H&S forming on $spx, with adaptive ATR having turned green and positive NYSE $TICK divergence on the recent lows!