S+ P 500 has broken out above it's Fibonacci .618 Retracement Level at 2935 today. That is a very bullish technical development and conceivably means.. that the S+P 500 could retrace back to it's all time high of 3393 The Sell Signal at S=P 2880 Double Top . that I noted previously, has been invalidated. The late Marty Sweig, God Bless his Soul,was infamous...
My proprietary chart system that I keep manually and continuously has given an important "Sell Signal" on the Close 4/27/20 at S+P 500 2878.48 The sell signal generation was given "technically" on a 4 Hour Chart Pattern "Snap-Back," to the "Important Uptrend Trend Line previously violated, In addition, there is now a "Double Top"in place at SPX...
Suddenly with little warningwe are living in a world where any semblance of "normalcy" is gone. . The stock market has seized on this " new normal as an opportunity" theory it is now rising it's way back up the ladder towards the 61.8 Retracement Level at S+P 2935 The bullish case rests on the belief that the pandemic paralyzing the world and the United...
It appears that a growing crowd of investors and traders now believe uniformly that "the market" is in the midst of a "very bullish" rally, that will take the market back to all time highs this year. The proverbial "V" Bottom, an economic turn around for the ages, engineered by the Federal Reserve seems to be what the bull "crowd" is now banking on. They...
Why is the stock market going up ? Ponder if you will these reasons. The Federal Reserve Chairman admitted today in public that without the most massive bailout of the US financial system in modern history, buying up everything they possibly can, and then some, that the credit market in the US would have by now frozen up. Translation : A Collapse of the US...
There appears to be a growing consensus of belief, that the pandemic virus , attacking the United States now," will peak" around early summer,in absolute terms, and then eventually work its way out of our system' by the later this year. Unfortunately,that consensus belief,in my view is highly underestimating the human and economic destruction, that this virus...
S+P 500 30 minute Chart, shows that the market is trying very hard to create a Bullish "Cup and Handle Pattern" with the hopeful rally back above S+P 2500. If one define's this as the Great 21st Century Bear Market , that was foreshadowed by the great financial crisis in 2008-2009 the retracement rally going on now would be setting up for another big move...
Bear market rallies, like the one over the last week, are often sharp bursts of upside price behavior. designed by nature to convince skeptics, that there is more stock rally to come. They often become true "believer's" again, and begin touting their stocks to buy to anyone who would listen There is an "urgency"to get back in the market, thinking a bottom has...
Let me put it this way. Under the Presidential leadership of Donald Trump we are hearing that most of us can be can be back to work by Easter, and that our churches will be filled with happy people again. Besides being pure BS, it' is also disgraceful. I live in the state of New York, where there today are over 25,000 citizens infected with the virus If you...
The historic 30% + decline in the market this past month, ranking it with the 1929 Stock Market Crash, has now technically broken Long Term Weekly Support of the Dec 2018 Low at 2346, in a "Descending Wedge" Pattern ( See Chart ) which opens the door to a potential much further decline. In the midst of a growing national health crisis and...
Here's a chart of the S+P 500, that I constructed a few weeks back, Note the wedge breakdown,with trend lines drawn, and the subsequent collapse made inside the wedge. You can see the collapse in stock prices from the original pattern in play. That is a critical observation you must grasp here. It has followed the exact 70 degree/angle of descent,that I had...
The market , and our country is in free fall descent of fear.". Stock futures overnight on 3/18/20, are currently limit down, once again. I had written previously that the probability of "Limit Down" moves this week was an expectation, because of the free fall nature of the rapid decline. Financials move before the "event occurs. In this case, it didn't...
S+P 500 has crashed, fallen off a cliff, and is plunging straight down with velocity so fast that it is outright dangerous, and to know at this point how far down, it could ultimately fall, is simply impossible to determine, or predict. Needless to say,I have been writing about this ""outcome "" in countless articles on tradingview.com, for a long time...
The last 30 minute 9 % rally off the Weekly S+P 500 Supporting Trend Line on Friday, suggests to me that the market has made a very important bottom and a higher Weekly Low at 2480,above the Dec 2018 Low of 2346. With the VIX reaching 77 this past week the 10 Year VIX Chart now shows a potential "Weekly"Double Top" in volatility,reaching the "extreme",near...
The Trump Administration Announced this afternoon that the travel ban in effect for Europe ... will now include The United Kingdom and Ireland ! The Market WILL NOT like this news, ...when it reopens for trading on Monday. A market crash cannot now be ruled out. with a VIX approaching 90-100 ! Get out of the stock...
Today everything changed. Panic has set in. The world is an entirely different place, than it was just yesterday Would you believe they are making a run on toilet paper,and paper towels online. Amazon.com, Walmart .com are almost completely sold out. Unavailable ! Life as normal has almost been vacated. Large institutions are shutting down. or are being...
S+P 500 Futures reached "Limit Down" again overnight as sellers overwhelmed buyers, reacting immediately,and very poorly to Trump's speech to the nation last night. Banning all travel,to and from Europe, with the UK exception, for the next 30 days, will have an immediate and crisis like impact on the bottom line of business,and personal travel internationally to...
The Dow Jones Industrial Average entered into a "Bear Market" on 3/11/20, down over 20 % from its all time high,reached just only a month ago. Statistically, that puts an end to the 11 Year Bull Market in this average The growing cancellation of "crowd" type events, in the United States for the fear for the public at large is rapidly spreading across the...