While not a reason to be short stocks on its own, there is quite a bit of symmetry on the S&P 500 chart since 2021 that could be setting up for a sharp leg downward. This is not a high confidence prediction, just a visually interesting observation that made me stop to think. Happy New Year everybody! 🤪
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I've been waiting for this moment for the past two years. Over the next week or so, I expect a high to be put in on the stock market at ~$441-$446, and then the market will be in down only mode for the next 6 months to a year. I don't take joy in seeing the market fall, but from a trading perspective these opportunities only happen once every 10-15 years and...
We are currently in a downtrend towards the ~$454.81 OB. If we fail to get a bonce we will fill the previous $454.18 OB. If we get a bonce and breakthrough the previous downtrend we shall see a retest of $456 OB.
Based off Price Action, the next 2 weeks will determine if we will see new ATH or fill previous Order Blocks (OB). Currently, we are in an Uptrend with the continuation from Oct. 10th ~$360 Demand. We had a clean break through the OB created on the week of Aug. 22nd. Which lead us to fill the Apr. 4th OB. We could potentially see a continuation to ATH or a...
New update. It seems like markets have found themselves face to face with reality. The bear market rally seems to have run out of steam due to the amounting economic and inflationary data. Simply put, I do not think markets can rally from here, based on: RSI overbought on 1W MACD Crossed on 1W Food prices are at 18 moth highs according to UN. Fuel...
Today I want to discuss about the bull and bear cases for S&P and introduce the fractal concept Bull case: Cup with a handle uptrend can be considered 1-2-3 wave and recent downmove as 4th wave it is a possibility because wave 4 is in wave 1's terrority, similar to the big downtrend. But this can also be considered a leading diagonal downtrend sub-wave 5 ended...
Traders, We have been batting 1000 lately when it comes to the SPY. Might as well make another bold prediction. It would seem that the greatest probability of price action is outlined in the chart. An inverse H&S is forming and the right shoulder has yet to start. I predicted the target down from the last H&S pattern to be 410. That was hit, almost to the...
Still in a downward trend and entered in that bearish weekly FVG. Looking to possibly add to position. Target is the previous lows or bullish Weekly FVG. Looking for this trade to play out by the end of 2023.
The SPX is showing 4 variables that suggest the price will drop. In our trading strategy, when an asset that is showing 4 variables in the same direction, we take the trade. As always the SL is one that as of right now makes sense, we will update if something changes. The 4 edges (Variables) that suggest downside: 1. Confirmation of old channel as...
Please understand the price action and the trade discussed and then act accordingly. If you don't understand or you are not sure sure feel free to message me. NOTE:FOCUS ON RISK REWARD
CME_MINI:ES1! AMEX:SPY SP:SPX CME_MINI:ES2! CBOE:XSP Closed my spreads at 100% today. Another successful day if you read some of my Minds on these symbols. The market is looking for higher prices for the rest of the week short term. Daily targets: 420-422 See you soon traders.
Following my previous S&P 500 post. Price has broken through the support level. Depending on how Mondays closing candle looks I am debating entering a short position. If we have above average selling volume and a strong closing candle I will take a small short position and add if price continues to fall. Low risk and potential high reward.
As I've mentioned in my previous analysis, I believe we're at a market top (Despite Tom Lee calling for new highs). There's nothing positive for markets looking forward, therefore I think markets will finally price in all of the raise hikes and the poor economy. I think we may see one more high, however, if we do, I believe it'll result in a rug pull. I think...
1. Less Bearish Scenario We have a 1-2 1-2 with the impulse wave 3 down in progress or still to come. The difference between the 2 scenarios is the higher timeframe. In this less bearish scenario, this move down is part of the primary wave C in the correction that started Jan 22. Once is done a new cycle will begin. 2. Bearish scenario In the bearish...
Unqualified prediction: SPY looks to be rolling over on the 1hr with multiple historical zones of support and resistance overlapping in a concentrated range (specified in-chart.) This in a TA sense would indicate a potential fight between buyers and sellers for control of price action, but macroeconomic fundamentals and geopolitical concerns, as well as ER...
It's hard to pick a direction lately, but this 4 hour bear flag into prior support just screams bearish. Will it be a trap though?
Hmmmm. This doesn't look too good for ES if I'm being honest. I am currently short as of this morning.