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.
The chart is a bit selfexplanatory.
It projects the DJI to drop at least:
1) about 25% from its currenct position at 23.723 - retesting last bottom
2) drops 50% like previous bear markets - see fib level
3) drops almost 70% to reach 2.618 extension level.
After the Shoulder-Head-Shoulder formation, SP500 fired a hit 'n' run candle, which was quickly dismissed.
After that, 2 attempts where made to recover, only to be rejected near shoulder level.
This time, it hit the vertical neckline once, and it'll problably hit i twice before being rejected again.
.......and history will repeat it self, and the pattern and...
I acknowledge a 3 months margin for a false call because SP500 is overinflated.
This is primarily for own use, and doesnt not stand as a recommandation, but my own point of view.
This post is just to mark the day...
Glostrup, 5/1 - 2017
SPY signals very possible end of 7 years bull market.
Connect the 2 monthly highs of 2007 just before the financial crisis broke out,
with a trendline, and see it get hit by the top of 2015, followed by a year of topping out on SPY/SP500, and then, last week, on the 13th December when it was hit the 4th time.
This also marks what i believe could be the 5th leg of...
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 downside is to come.
Take a look at 2008 for...
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 beginning more likely than ever.
All the fundamentals are...
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 correction back to the MA200 line.
In conjunction the...