Dow Jones Industrial Average (US30) Bearish Continuation!
US30 has recently reached important zone of confluence:
27500 structure is based on a daily horizontal resistance and a rising major trend line.
the price formed a double top formation and went rejected on that structure
and during the US session, minor support of the double top went broken.
now bearish continuation is highly probable.
goals
27014
26800
Indexes
GLOBAL CRASH INBOUND?As charted, everytime we see a Ichimoku CLoud break in the VIX ( Volatility S&P 500 Index ) we see a strong rally out of it. The most recent example of this is on the 13th Feb 2020.
Inversely proportional to the VIX , the S&P 500 Index has massive negative price action, represented on the 21st Feb 2020.
Coincidence? I think not...
Since the beginning of COVID19 governments around the world have been scrambling to control there domestic economies by all means necessary. It's of no secret that there is a huge amount of Global Hyperinflation and we are starting to really feel the effects of what this virus has done.
Nothing is guaranteed and we have deflected out of Ichimoku Clouds before to stabilise as represented most recently on the 31st July 2020, (Remember though that the S&P 500 still dropped close to 6%)
Currently looking at price action on the S&P 500 Index entering the cloud doesn't fill me with confidence, along with the VIX ( Volatility ) shaping up to break through the cloud and destabilise the S&P 500 .
This isn't just isolated to the S&P 500 Index , check out all the other Major Indexes to see the relationship.
America is about to enter "Flu season" (Winter) and it has the Presidential Election coming up. This could be shaping up for a BIG ONE....
Will history repeat?
These Ideas are NOT 'Financial Advice'!. Scenarios are based off a mixture of TA and Fundamentals current at the time. All IMO GLTA. Happy Hunting!!! *Prices will differ depending on charts used
The S&P 500 Index, No More PoliticsWe looked at the S&P 500 Index (SPX) and also took into consideration its potential effect on politics and vice versa... (see related ideas below this post)
Our support has been taken out and the day started red...
Let's have a look at the SPX chart and see what it has to say.
Chart Analysis | SPX Daily (D) @AlanMasters
We now have full bearish indicators for the SPX.
The MACD easily moved below zero and gaining bearish momentum.
The RSI is now below 40 looking weak and with room for more low.
Prices closed below EMA50 easily and the lower trendline is being tested as support.
According to all the chart signals, the SPX is bearish and continue to drop.
We also looked at the Dow Jones (DJI)
And FTSE100 (UKX)
Namaste.
S&P500 Index (SPY) Consolidation Trade
spy is trading within a wide horizontal trading range on 4H.
the price has recently reached its horizontal support and formed a double bottom formation.
breakout of its minor resistance confirms a local strong bullish sentiment.
for that reason, the index may keep growing.
goals:
3390
3415
S&P 500 Downwards Sloping Failed W-Bottom1. A Reaction Low formed and Broke Through the Lower Bollinger Band.
2. Price Moved Back around around SMA (Middle Line) and Failed to Test or Exceed it.
3. A Second Drop in Price Created a New Low.
4. A Weak Move Brought Price Towards the Middle Band (SMA) and Failed Exceed it - and was Rejected There, at Resistance.
TOYOTA MOTOR CORP: Important Breakout & Bullish Continuation
Confirmed breakout of a bullish flag pattern on Toyota.
Taking into consideration that the market is trading in a bullish trend
this breakout will most likely initiate a bullish rally.
I will buy on a retest of 618 retracement of the last minor bullish leg.
goals:
7286
7523
Nothing new to see hereDespite recent weakness in the market it seems like we're still in basic recovery channel. Notice back in June we had similar price activity compared to now... the media is also saying how recovery seems to be faster than expected etc. etc. and the Fed is backing off on buying corporate paper. So no... we're probably not about to crash.
S&P500 Index (SPY) Buying the Dips
nice correctional movement on spy yesterday.
the price perfectly dropped to a support line of a major rising channel.
this support matches perfectly with a 618 retracement of the last bullish impulse
+ bullish engulfing candle formed, confirming the strength of structure.
I believe that now it can start recovering.
goals:
3507
3560