Expect to hit 3000+ before crashing down to 2000 in 2020.
Most likely move sideways over coming months before the next leg up.
A very balanced day with a narrow range. A doji daily candle. The market took a pause to build a mature balance. Usually, this type of a price action leads to a directional move in the following day. Watch for a conviction, a strong bar originated from the high value node around 2633-37. That conviction with a good volume should take the price above 2677 or...
This is the most spectacular rally I've ever traded. We cruised above last week's $46 expected move. Actual Move? $74 So we broke outside the expected move, and yet this coming week's expected move is only $41? What's the deal? Well it's only a 4 day trading week. So the options market did increase their volatility. $41/4 days = $10.25 vs. $46/5 =...
With the lose of the 4 hour level I'm looking for a continuation short. I'll be going 5 contracts short and taking profit from 3 of them within my risk reward scenario and leaving the rest to run.
Resistance expected around 2707, confluence of trendline, 2 fibs.
Which SPX target will you bank on for 2019? Comment below! Each of these year end scenarios are based on a DCF valuation model: A) 2700 fair value, 170 EPS 2019 estimate, 15.88 PE (20 year average forward PE) 4% EPS growth for next 5 years, shrinking to 2% after B) 2500 fair value, 170 EPS 2019 estimate, 14.7 PE 2% perpetual EPS growth, 9% discount...
In this long-term uptrend market i looking for long trades. The massive Volume cluster is near 2642.5 area. As confirmation for this long level is marked candle in yellow rectangle. Because this big green candle is now possive candle . Green colour does not mean possitive!!! When the candle closes below 50% of its range, it is a negative candle. On this big...
The RTH daily range is contracting. The price did not get neither to OVN low or high. No changes to the market structure. There is a composite high value node at 2584 . Usually, a high value node is a launching point of a directional move . Something to watch. At this point the buyers continue to dominate. There is no obvious signs of their failure. This week we...
Ascending triangles tend to be continuation patterns. When an ascending triangle fails that can portend weakness. I have already posted an ascending wedge and overhead resistance that would be downward pressure on the markets. This bullish ascending triangle was the silver lining in that cloud for the bulls but with a failure of that pattern, will it finally be...
Here is an updated chart. The daily range was contracting day after day and this is typically a sign of a bigger move coming soon. It does not really matter what will spark it. Let’s start from the upside scenario and what is in favor of it. A small consolidation area is formed at the upper edge of the balance. A breakout of that small area will be a breakout of...
We have two bearish things coinciding: 1 - price is about to retest the 2018 channel support (pullback) which most likely will be rejected 2 - the channel support in (1) coincides with the 50% retracement level off S&P500 all time highs to the December swing low
The updated chart with minor and major levels to watch applicable for day trading. The price continues to be resilient and the buyers maintain the control. The channel was broken OVN and that encouraged the sellers at the RTH opening. However, the sellers failed to take out 2561 level and the buyers stepped in ahead of the OVN low. The shorts got squeezed again...
Heading into highlighted area. Need reversal on lower timeframes (at least 30min. chart) to consider short. No sign at the moment. Let the chart tell you, don't anticipate.
The past two weeks in US stocks have been crazy to say the least. Short covering as well as POTUS and his cronie Powell are clearly trying to “PUT” a floor under this market. I like to stay very technical when it comes to indices for this very fact. They think they are lighting a fire under stocks however it appears to be nothing more than a mean reversion move....
Looking for a 2x to 3x std dev break to the upside on hourly ES upper bollinger band + rising wedge support throwback failure for a high probability short trade.