ES is going up Like a Space Launch System !!Pitchfork tells us the Story of ES
If it stays above the Min line it will continue to go Up
Otherwise, if it broke with big volume it will go down
Es1!long
ES1! PositionES1! Position, I recommend to keep an eye on ES1! and wait for a selling signal to trade
May be is searching the 3037.75 !!??S&P Broke with big volume the two resistances
27444.75 and 2865.50
with an upward trend
May be is searching the 3037.75
Otherwise, go down to one of this resistance (2744.75 or 2865.50)
S&P will go up !!??S&P Broke with big volume the trend line
with an upward trend
A Big probability to go up to 2904 if it broke 2877.25
with a big volume
Otherwise, if it broke the trend line it will go down
SP500 Futures (ES1!) long.All description on the chart.
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SPX 2020 Prediction, to start the year off weak! Then 3400?We just ended a decade and a wild ride for 2019 having risen nearly 30%. From here many investors and traders may assume that there will be a strong move lower because prices can't go up forever. Normally, however, after such a strong gain, markets have the tendency to continue to rise the following year.
That doesn't mean we can't see a pullback and that is what we expect at the beginning of 2020. After having risen so much in the last two months, green week after green week volume started to thin out at the top as the big-money left for the holidays. Meaning there could be profit-taking come January.
What happened in 2019?
-The Fed Cut rates 3 times, providing cheaper borrowing so big money took advantage of it and flooded the markets
-The Fed implemented a secret QE4, pumping USD into the economy
-The Trade deal has had great progression, looking to sign Phase 1 (To be signed of January 15th)
-Stock buybacks over $700B which caused artificial valuation of equities
So what do we expect in 2020? A slight pullback to start the year from profit-taking, we just hit a 1.5 Fib expansion level where price failed the first time recently. The expected pullback before the continued move is the previous broken high at first at 3155 which is about 2.95% of a pullback. The ultimate level we're watching for is the 3100-3105 where the impulse for the move higher had begun, that is a 4.3-4.4% pullback from the current price. From there price has the opportunity to make a move up to 3350-3400. However the drop has to be on low volume if traders are to be excited about the upside.
This idea is for educational purposes only, this does not constitute trading or investment advice. TRADEPRO Academy is not responsible for any market activity.
SPX pulled back, is it going to hit all time highs now? 3245!The SPX was due for a pullback, we had anticipated the move lower before a pop would be more extended than it was and it was driven on trade news. We did, however, curl back into the wedge that was broken and use it as support before slightly rallying throughout the past few sessions. It did not seem like the downside was over after Monday, considering we saw an 80 point drop in just 2 days, which was about 2.7% from all time high. In our previous idea we mentioned that the SPX would have a really hard time moving up without pulling back just a bit. We got our pullback but we did not expect the price to rebound so fiercely off that support structure.
Now the question is what is the move to the upside? How far can we see the price on this rally? Last time we said that we would probably come into an all-time high a new one that is, somewhere above 3175.
A measured move is 3245 based on the Fib extension.
IF the trade talks continue to deteriorate then we could see more downside in the SPX bringing price down to 3025.
Disclaimer: This idea is for educational purposes only, this does not constitute as investment or trading advice. TRADEPRO Academy is not responsible for market activity.
