Bulls and bears want (IMO) a retrace up to 2050. Bears want to go short at a higher price and bulls want to break through the high from earlier this month. I will be glued to the 30 min and 5 min charts looking for longs.
I reinstated my short on SPY this Friday at the open, after riding the first down-and-up wave of the year. My rationale: Technicals: RSI divergence on since the early December highs; strong rejection of the Pivot point at the 205.50 area, 206 seeming to be the area of strong selling pressure. The market bounced off the Ichimoku Cloud top on Tuesday, but it seems...
You only have the past data plus what is going on now, that is the present to predict the future price action. So what you need exactly to be a successful trader?? - Well, you need the odds to stack up to pick the right direction of each trade. - System, method, strategy that generates big winners vs losers. - Be emotionless by having precise entry / exit...
Day six of testing the 2060-2078 levels. when we will break the 2078.75 level, my first target will be 2100, second target will be 2118 and after raising to this new high we will test the 2140 level. Good luck!
04 DEC 2014 - Update: Friends, Important NFP data coming out tomorrow. Expectation favors softer employment data. In the long-term, USDollar index remains bullish. However, the interim calls for unwinding. Looking at the $USDJPY, model defines a high-target at 120.996 - This nominal target represents a low-probability reach, but high-probability reversal...
The over all market remains strong. The NFP number is out on Friday and could pop us into the 2100 area. For now the path of least resistance is up. Be smart with your risk.
TECH-NOTE: From Twitter: ---------- #CME's $ESZ2014 eyes internal 1.414-Fib and 1-3-5 Line confluence: - via @tradingview | $USD $JPY #nikkei #forex ---------- Worth following as it correlates positively well with $USDJPY
S&P500 This Week Perspective This week should be the turning point on weekly chart and price should start falling off the high next week. Are we talking about the odds here, the import point I want to stress on here is the weekly high 2044 must be respected. Any breakout of this high will turn S&P 500 into bullish mode again 2064, 2070, and 2099 are possible...
S&P500 Forecast-ed Move for this week. ES 12-14 reached 2030 completing the forecast-ed move published at beginning of the week. There is good probability for the market to reach the second boundary 2048-50 today or early next week. So sell stop loss can be moved now below 2028-30 level until the next target is reached either today or next week. For the short...
Weekly bottom was formed on 15-Oct-2014 which is one week earlier than our expected ES bottom on this week ended on 24-Oct-2014. The price closed well above the critical sentiment level of 1941.50 on Thursday 23rd and continued the move on Friday 24th towards critical resistance lines 1965/1966. We are looking to buy the dips to 1940-1942 levels and if the price...
Pretty interesting to see the first lower low formed in yesterday’s trade, remember QE3 ends this month. Keep this in mind when looking at longer term trades. I'm moving to a cautiously short bias
Friends, A quick and dirty way to forecast your way across the blank screen is to make use of very simple tools, such as Fibonacci forward projections of its significant 1.618 extension. In the case of the #ES, here we are dealing with a high-probability geometry, derived from a Elliott Wave's pattern, in which we recently noted a Bullish Flat. Hope this...
Traders, Watch for possible decline to 1992 and subsequent 0.618-Fib recovery to structural resistance at 2003.75. David Alcindor Predictive Analysis & Forecasting Denver, Colorado - USA
In markets that can remain irrational longer than we can remain solvent here some tips to consider when using indicators on price. There is a reason they say the trend is your friend. GL out there!
// update 06-08-2014 // This chart was posted last month where we noted the limited upside potential. Price came off the highs an could be rolling over. Where and how we rebound are the key questions. The two support areas to observe are marked with the blue and brown arrows. It would be healthy to witness at least a minor bounce at the blue support level.
Today's market action may be an indication to a very volatile August with historic cyclical weakness ahead.
S&P500 hit upper resistance of the brown channel. We have an interesting setup here where momentum is slowing down and the RSI is also at high levels. Now price might hit the upper resistance of the blue channel but clearly some caution is due as the room to the upside is getting smaller.
Based on measured move objectives there are a confluence of potential resistance areas to note just above where price currently resides. Above ~11280 with CONVICTION and ~12500 is the final target.