XYZ-Trader-

XYZ-Trader-

Hi everyone, If my Elliot Wave Theory skills are any good, we may see an opportunity to buy the S&P under 3K again sometime next week (6/22- 6/26). Hopefully chart makes sense. Please beware!!!! I'm an Elliot wave theory newb!!! I have been doing a lot of research and practicing but I by no means call myself an expert. Do not trade based on my ideas. Feedback welcome.

XYZ-Trader- Updated 

Today's 6% move down was not coincidence, it was setup as a bear trap to fuel the rest of the capital needed to reach all time highs. I am not a bull and I have been wanting us to test the March lows just as much as any other bear, but I'm also not blind to what the market is setting up. This is just my opinion and you should trade based on your own judgement....

XYZ-Trader-

Each time Bitcoin has peaked recently, it dumps. Well, Bitcoin peaked again for the 4th time and each time before, it dumped after it was rejected. Will this peak be any different? If we go based on the past, then we should see another dump soon.

XYZ-Trader-

I believe the S&P 500 is ready to top out and roll-over. Based on the trend lines I see a wedge pattern playing out over the next week. It will top out either near 3100 or 3200 by June 5th. What do you think? Please understand this is just a prediction and the market can do anything.

XYZ-Trader-

SPY has a large price gap around the 2875 level and I noticed that for it to fill that price gap without breaking a key trend line support, it needs to do it by 5/28 or filling the price gap becomes more risky for the market. I think this might be evidence to suggest that over the next 24 hours, we could visit 2875 only to bounce back into 3000+. This is just my...

XYZ-Trader-

There seems to be some very bearish patterns that bitcoin is forming this weekend. It is now creating a second bearish flag that if it stays within it's channel, we could see another drop. $8,500? I would monitor closely for the next 24 hours. Trade responsibly and this is just my opinion based on an observation pattern. Target: 8,500

XYZ-Trader-

I'm seeing a bear flag on the daily chart with a chance for bitcoin to drop to $8,500 USD if the very near future. Of course this is just my opinion and you should trade on your own will.

XYZ-Trader-

This is a huge bear flag for bitcoin in my opinion. This obviously isn't a science but it is worth noting of the potential fall below 8K if the flag plays out.

XYZ-Trader-

The S&P is begging to show a slight downtrend slope.

XYZ-Trader-

S&P looks like it is heading lower on a perfect Fib sequence retrace. I'm expecting S&P to go down the rest of the trading day and possibly into Tuesday (Monday is a holiday). There has been an increase in negative news (U.S. China tensions, highest daily COVID cases being reported, no sign of economic recovery, Fed is cautious and worried about economy, etc.). I...

XYZ-Trader-

Given the high resistance, the U.S. China tensions escalating, a long three day weekend, and a down trend...I think the probability is low to low medium but there is a chance the consolidation occurring right now is to break out to the upside. See bull flag forming. I would wait until confirmation of the breakdown or breakout to trade safely.

XYZ-Trader-

What if this entire rally was just part of a large bear flag? Were the bears showing their hands all along, trapping bulls along the way, and then adding insult to injury by throwing a pie in their face. If so, it was starring at them the entire time.

XYZ-Trader-

This is the second of two bear flags. Very bearish technicals forming in the S&P. Awaiting a big drop.

XYZ-Trader-

The bear flag has been trapping bulls over the last couple of days. The bears are ready to release the bottom. The market has also finished a rise wedge pattern, a double top, and a head and shoulders. So many bearish signals.

XYZ-Trader-

I believe the S&P was in a bearish rising wedge after the March lows and fell out of the wedge last week. It has since been melting up to try to get back into it's trend line and has formed a second rising wedge. I see double bearish signals here.

XYZ-Trader-

Possible bearish pattern after today's S&P close.