SPX-Bullish Swing ComingI believe we are in a minor wave 4 correction and sp will soon see higher prices...2.618 would give us a target of 5k
Equity
STATE OF S&Pfor now. we are in a downtrend, in the last hour of trading futures go lower, buyers not coming, the supply chain will start effect most of the sectors, from Sox to banks.
Rsi weekly show loss of strength, macd monthly shows slow in momentum
I marked the next level of sp if we close this week ahead under 4300
GoodLuck
Stocks Slide, But Potential Breakout NearThe S&P 500 has slipped back below 4364, as anticipated in the last report. We found support at 4327, roughly the middle of the range stocks were holding between 4327 and 4364. Currently, we are testing the upper bound of this range, but a red triangle on the KRI suggests that we are meeting some resistance. There is a clear bull bias from the Kovach OBV, so watch for a potential breakout at open, especially if the tone of the news remains risk on. If so, we have several levels of resistance above, but 4408 would be the next target
10/13 Watchlist Hey everyone SamC here, we are going to start posting some set ups for the following trading day of a couple names we are watching. Feel free to ask questions in the comments and give us a follow.
Stocks Try to Avert Third Straight Day of LossesStocks have started the week flaccid, but have found support at 4327. We got a bit of a lift to 4364, but are likely to hold the range until more inflation data comes out. We have a cluster of levels above which will likely prove to provide resistance, such as 4340, 4389, and 4408, particular relevant level. The Kovach OBV has actually picked up a bit, suggesting a bit of a bull divergence. However if we break down past 4327, we will have encroached upon the range between 4272 and 4327, a previous value area.
Titan short for intraday - Almost ready for a breakout !# Titan is forming a flag pattern on an hourly timeframe!
# Also, forming a double top and double bottom on 15 mins timeframe!
# Getting ready for a breakout!
# Rsi is decreasing and stock is losing its momentum!
Stocks Find SupportAfter making a run for the 4400 handle, stocks have met resistance at 4431, and have drifted down to support at 4364. Although it is not a market holiday today, it is Columbus day, and thanksgiving in Canada, so watch for lower volume. The Kovach OBV is still pretty strong, so 4364 might be a lower bound for now. If not, we could break down into the previous value area between 4227 and 4364. Otherwise, watch for 4431 to continue to provide resistance.
Stocks Price in Debt CeilingStocks have gotten a lift from the debt ceiling news, however we are facing steep resistance from a cluster of levels in the mid 4400 handle, 4431 in particular. We are seeing a red triangle at this level confirming the resistance. Currently we are seeing support at 4389, as confirmed by a green triangle on the KRI. The Kovach OBV is strong, but has leveled off completely showing little or no conviction before the opening. If we do see a burst of momentum, we must first break 4431, then there is a vacuum zone to 4462. If we break down, 4364 should provide resistance.
$NTC Netcare Nice break and retestNetcare broke what seemed like an inverted head and shoulders neckline and retested that neckline. Possible target after 1700 would be 1970.
Debt Limit Hopes Lift StocksStocks caught a lift later in the trading day yesterday after struggling with 4327. Positive news sentiment off hopes of a debt ceiling agreement brought us back to the upper bound of the range at 4389. The Kovach OBV has picked up notably, but is flattening out suggesting we are facing some resistance here. In order to breakout, we will need sufficient momentum to break through. The next major level is 4408, the first technical level of the 4400 handle. If we fail to muster the momentum to break out, we will likely retrace to the bottom of the range again, at 4293 or 4272.
$EOH Cup and handleInteresting looking cup and handle formation on EOH. Possible targets if the neckline hold is 723 and 799.
Stocks Bottoming OutStocks have retreated to the lower bound of the range, testing the 4200 handle again. Currently, we are finding support just above our level at 4272. We are seeing green triangles on the KRI, suggesting we are finding good support at these levels. Watch the risk sentiment in the news, because if we see more momentum towards open, we could potentially break down to 4245, the next level down. If not, we could test the upper bound of this range again, which is about 4380. The midpoint is at about 4327, so keep this in mind for a potential mean reversion trade. The Kovach OBV has leveled off, and if we are to break either of these levels, we need to see momentum come through.
Stocks Still Hugging LowsSocks are holding steady at lows. The S&P seems to have bottomed out at 4272, making a meager attempt at higher levels. We appear to be making a run for 4327, but there isn't much momentum to this rally. The risk sentiment is still pretty bearish, but we will see how it evolves as the day progresses. The Kovach OBV is still solidly bearish as well, but we could be due for a relief rally. Watch for 4272 to continue to provide support, but 4245 is the next level if we break through. The next level above is 4350, and there are several levels above this which will provide resistance until we are able to break through to the 4400 handle.
Stocks Attempt a RallyStocks appear to have found support for now at 4272. This seems to be a lower bound for now. We do appear to be witnessing a meager attempt at a rally. The S&P has tested 4380, but retraced a bit to support at 4327. We may attempt to find support here as we establish value. The Kovach OBV is still solidly bearish, and until we can see some momentum come through, we can expect to remain at these lower levels. We have a cluster of levels in the 4300 handle above. If we manage to break through these, 4408 is the first major level in the 4400 handle, and this will be a significant barrier to break.
When Will Stocks Recover?? 😱Stocks appeared to be seeking value around 4389, but seem to have taken a turn for the worse. We found support at 4350, but risk off sentiment pervaded the markets and the S&P smashed through several support levels down to 4272, where it is currently finding support. The Kovach OBV is still massively bearish, suggesting we are getting into oversold territory, and due for a bounce. The best case scenario for bulls would be a V-shaped recovery, that could take us back to the 4300 handle or even 4400. From below, we should have support at 4225.
Stocks Find SupportStocks have found support at 4350. The S&P has drifted up, and inched above 4389, but does not seem to have enough momentum in the tank to test the 4400's yet. If we see a lift at open, 4408 will be our next immediate target. After that, there is a cluster of levels in the low 4400's, that will next provide resistance. The Kovach OBV is bearish, but has started to pick up. If the sell off continues, we will find support again at 4350, but if this breaks, 4327 and 4306 are the next levels down.
Outlook for CAPEThis is just idle speculation looking at how SHLLER_PE_RATIO has charted in the past, and some of the major support/resistance lines.
#justforfun
Stocks Meltdown!! Will They Find Support??Stocks have finally found support at 4350, after a massive selloff yesterday. We cut through several major levels, and have solidly breached the 4300 handle. Currently, we are seeing a bit of a lift from 4350, reaching a resistance level at 4388. There is a red triangle on the KRI, suggesting we may see a rejection of this level. If so, we could retrace back to 4350 and then some. If we see momentum come through, then there is a vacuum zone above to 408. The Kovach OBV is still very bearish, however.
Stocks Plummet!! 📉😨Stocks have sold off pretty hard, breaking down from a head and shoulders type pattern with the head at 4487. We anticipated in these reports that it would be difficult for stocks to break higher and that the risk was to the down side. We are currently attempting to find support at 4408, a level we have discussed in these reports many times and called out yesterday as a level of support. It looks like we are getting ready to break through this level as we write this. This is the last level of support in the 4400 handle, with 4389 and 4380 as the first levels to provide support beneath it. There is a cluster of levels above which will take some momentum to break through, including 4421, 4431, an 4440.
S&P Likely Road ForwardNothing to write, the price was wedging and broke lower, no surprise. Hopefully it corrects more now and we can
kill some of the excesses in price and washout the speculation now and not later from higher cliffs. Likely Mid to high 4200's,
a bit less likely is close to 4000 and even less likely but still possible and my favorite scenario is 3700 - 3900. Before ultimately bottoming to start the next extended cycle higher into 5000's+ over the next 3 - 5 years. Likely to end year close to 4500 or 4600.
Look for a slow and steady decrease in the standard deviation day to day in prices. High vol days should be behind us for a while beginning fairly soon or possibly this may already be under way.
$SOL Sasol Looking bullishWhat originally looked like a head and shoulders break turned out to be a fake break. It now looks like a bullish flag breakout with a breakout retest. Recent high of 265 could become a target.
Stocks Struggle at HighsStocks have made a run for highs, but have met resistance at 4487. We are currently finding support at 4463, as confirmed by a green triangle on the KRI. The Kovach OBV has been tapering up, confirming the bull trend, however this momentum still seems paltry with respect to the selloff we saw last week from Evergrande. If we are able to brak 4487, then 4504 and 4521 are the next levels to target on the upside. It seems likely that we may see a retracement, and we should continue to find more support at 4440. There is a cluster of levels around this vicinity, but if these do not hold, 4408 should provide further support.
Stocks Gain StrengthStocks have rallied, completely erasing the Evergrande selloff. We have rallied back to 4462, finding support at 4440 and 4431, levels we have brought up in these reports. It appears investors are back to risk on mode, and the Evergrande fears have passed for now. The Kovach OBV has gradually picked up, so watch for momentum. If we can break 4462, then watch for 4487 to provide resistance. But after that we can recover the 4500 handle.
