About me21/04/2015: Welcome to the bear market.
DayTrader based in Denmark. Been trading on and off since 2008. A strong believer in the fibonacci sequence and its impact in stocktrading, so a lot of Technical Analysis from me.
Joined 2 years ago
Watch out how this possible SHS formation plays out.
I'm looking for a short opportunity.
If it fails, I'll be looking for second opportunity i level 10.400-10.000 (with possible spike to around 10.600)
Let's see how it plays out.
As i see it, 9620 was the 61,8% retracement level, with a possible target for DAX bearmarket at 5135..or 5100-5200 area.
My first target was around 5442, but this seems more realistic.
That would be approx 58,5% drop from dax top i 12400.
That is within "normal" bearmarket drops.
6 september 2015.
Is what where seeing nothing more than a dead cat bounce, before more downside?
US market closed 7 sept, then opening from 8 to 12 sept.....maybe this simple scenario will play out.
Watch also the triangle setup.
July, 31 - 2015
My first SHS formation idea, is still valid (since 2137,5 hasnt been taken out) even though is was on fewer bars in
the top area of 2137,5.
When looking from march to august, the bigger SHS seems more clear (and significant).
History tells that SHS formations are usually topping formation, and ...
A SHS formation is nearly completed in the DAILY chart in SP500 (SPX)
Only a few more trading days remains before completed.
Coincides with the ending of june, and a very possible Grexit.
A greek deal could postpone things a bit.
After passing the neckline around 2080, next stop will be 2000 and bearmarket ...
A newer look at the monthly chart for SPX, with circles indicating similarities and some divergence.
Notice also the date periods of the two bull markets. (and remember this one had QE1+2+3.....(+4?)
Notice the stochastics RSI is currently low.
Notice the MACD signal for last months also.
I still see a minimum ...
As long as SPX does NOT go up through the "big grey zone" this should be THE top of the current bullmarket of SPX since march of 2009 (6 years back).
This grey area represents a fibonacci ext level all the way back from 666/667.
So if not taken out...welcome to the coming bear market.
Disclaimer: a possible QE4 ...
Possible scenario for SPX in the coming months.
Will coincide with a very possible Grexit as the "trigger" for the coming bear market.
This bullmarket has allready lasted a bit too long.
An "asset bubble" has been created.
Inflation is more or less in effect.
US and EU piled up bigger debt than in 2008.
US will ...
As I see it, the DAX will form a correction, at the minimum, the same length from the top to the neckline in the SHS formation, giving a target for around 10.891 (give and take som points) when leaving the month of may 2015.