Es500
S&P500 banks predictions ( US500 )a brief technical view of spx500 combined with expectancy of banks
banks are projecting this to be a natural correction and a buying opportunity, knowing that the average of expectancies of all banks projections is 4842.9$ , it converges with the fibo extension objective :-27.70%
fundamentally talking :
this dip is a natural correction in the market due to profit taking after the rally in the markets
and a great opportunity to buy lower and optimize the weighted average open price of securities in portfolios, this doesn't mean that there is no risk , jerome powell the governor of US central bank announced this week that inflation isn't only transitory it could stay there for longer periods, and then there is the famous omicron that came to ruin the economy, and a possibility of inefficiency of vaccines that could lead to the closure of economies.
in normal cases the next rally cycle should start at January.
S&P500 Triangle about to breakPattern: Triangle on 4H.
Signal: Buy as long as the Higher Lows trend-line holds.
Target: 4400 (just below the 2.0 Fibonacci extension, similar to the March 31 break-out).
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The Big Short (SPY/ES)DONT TIME THE TOP! I post these charts as a warning to be catious, i barely trade puts bc we are in a rally and i will enjoy and make money every day of it with all these great opportunities instead of getting killed by going against a trend.
However, this is my big short plan, i'll be adding into this position with the first sign of a big rejection as a confirmation, expecting this anywhere between now, 388-390 and 395 at the very max. Happy trading :)!
How ES/SPY will finish up July thoughtsTo me the technicals are showing ES falling off throughout the next week. We could see continuation but think we would need some good news to turn this boat around. Vaccine was priced in already, covid cases rising, Trump taking precautions now, losing confidence in market. Maybe another stimulus could float the market a little longer. Papa Jpow is running low on ink.
In all seriousness I think SPY had a good run-up and needs to test back down and looks to me as if it's losing steam.
Possible we see sell off tomorrow going into the weekend but we will see where tonight takes us, will update when I get a chance.
Thanks!