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The S&P 500 closed Friday with a huge bearish candle, and price found itself
suspended between the 20 & 50 simple moving averages.
The next logical level for price to move to was the 50 simple moving average,
which is the next support level on the daily timeframe.
Price had other ideas as Monday opened higher than Friday’s close and near
the middle of the...
Last week's previous post for the S&P 500, the all-time high at $4718 was highlighted
as the level we want to see broken to confirm a trend continuation.
Price did in fact break this level on November 22nd, but this proved to be a fake
breakout. Price moved above $4718 but failed to close above this price.
We can see a mini consolidation in play now, and just...
Gold has been resting well, and the rest may have given new life to the
bullish momentum as we are starting to see some progress this month.
An all-time high formed in August 2020 at $2075, and from there,
we saw a decline down through the $2000 psychological area of
support/resistance and below the 50 simple moving average.
Price formed an area of consolidation...
The S&P 500 experienced a pullback last week and before that, price had climbed
up 3.64% following a consolidation breakout.
When price was pulling back, we identified the 20 simple moving average as the
next level of support that price would move down to.
Price did not make it to the 20 simple moving average and had instead found
support above this indicator...
Ethereum appears to be leaving Bitcoin behind in its dust as it is making new all-time
highs following the long consolidation period between May and October 2021.
During that time period, many crypto traders would have lost interest and felt the
trend was coming to an end, but staying on top of the charts is essential as anything
can happen at any time.
The S&P 500 looks set to repeat the trend which unfolded last November.
Back then price formed an area of consolidation from September and this
also occurred this September as well.
When we notice patterns in the market, we need to pay attention because
it will provide us with an advantage and give us an edge that could prove
Following the area...
Crude Oil has come a long way since the lows of April 2020, which took price down
to just 1 cent. Price has since climbed back over 16,000% and currently looking strong.
The first hurdle following the decline was in November 2020 when price approached
the 50 simple moving average resistance level on the weekly timeframe.
After defeating this indicator, price...
The market appears to be recovering from the annual September pullbacks,
as we can see with the S&P 500.
Following the recent declines, price found support at $4305 on September 20th
and then it looked as though the pullback was over. But after failing at the
resistance zone consisting of the 20 & 50 simple moving averages, price declined
again, but this time...
The S&P 500 remains in an area of consolidation for now, following the decline
we experienced in September.
A high of $4545 was formed on September 2nd, then a pullback came into play
which we anticipated as September is usually the weakest month of the year.
The pullback was deep but did not touch a previous level of support or resistance.
Price has since tried...
The S&P 500 is still in a pullback phase, seeing a decline of 4.5% so far since September.
The move is almost equal in size to the decline we witnessed in September 2020.
What we need to do when price pulls back is identify levels that price may gravitate
towards so that we are prepared in advance to manage our positions and give us the
advantage of getting ready...
Apple is experiencing a weak September, but a quick inspection on the monthly
timeframe shows price is now finding support at a resistance level turned support.
This level is based on the January 2021 high at $145. Price initially broke above
this level in July 2021 and started pulling back this month.
Last week price opened below this level but closed above it,...
Bitcoin is currently going through a stagnant phase as it is moving sideways
and not moving much in either direction.
December 2020 to April 2021 was a good run for Bitcoin as it experienced
a move from $19,700 to over $64,800.
The decline that followed brought price to the 50 simple moving average.
The first contact was made in June then again in July.
Following the peak of the Covid pandemic in March 2020 when price declined by 48%,
price turned around and gradually moved back to the upside, eventually breaching
the all-time high 11 months later.
In May 2021, price created a new all-time high at $3,017 before heading back down
towards the weekly 50 simple moving average.
The 50 simple moving average was an...
September is usually the weakest month of the year in the stock market, so we were
ready and waiting for a pullback to appear.
From September 2nd, we started to see a slow down in momentum as an indecision
candle formed and from there price started to decline.
The 20 and 50 simple moving averages are our expected levels of support, and as we
can see, price is...
Blink and you can end up missing some big moves in Bitcoin which is taking on a
life of its own. This instrument was showing signs of weakness in May this year
where it fell to below $30,000 and hit the weekly 50 simple moving average.
In July, the buyers came back into the market and have pushed price up 79%
to where it currently stands at over...
The S&P 500 continues to climb up the slope formed from the 20 and 50 simple
moving averages. In the last post, price had broken above a previous high at
$4480, and has now moved up another 1.5%.
The trend in this Index is strong, and we can see a nice pattern of higher highs
and higher lows forming here.
It was only back in April when price was approaching the...
If we take our minds back to May this year, we will recall the fall that Bitcoin
and most of the cryptocurrency market endured.
There was a lot of panic selling and buyers were scrambling to get into Bitcoin
at a cheaper price as it had fallen from over $64,000 to just under $29,000.
Price hovered around $29,000 from May to July until the buyers could build...
Netflix is chilling at the moment and has been moving sideways now for a year now.
We saw some fast growth in their share value following the peak of the pandemic,
but the buyers have not been able to keep up the momentum.
Consolidation periods usually follow strong trends but if the overall strength of the
stock is still there, then price should be able to...