Sandp500
Dow strong buy! 4hr divergenceThe dow looks good for a bit of a pump up after all the selling. RSI and MACDH both showing nice divergence.
Is there any hope left? Let's look at the BIGGER pictureLet's take a look at the long term logarithmic scale to view the long term trend of the S&P 500. We have completely broken past the monthly support and broke the .382 fib support level. Having analyzed the daily RSI we could be looking to form a bullish divergence that could lead us to a miniature relief rally to retest our old support and confirm it as resistance. If that is the case, then my downside targets are between 1500-1700 and I expect buyers to step in. That area is the .618 fib level as well as the multi year resistance from 2000-2007 and from a bullish technical perspective, you would want your old resistance to become new support. If that level is lost then our global economy could take YEARS to recover. If you like my analysis please give it a like and a follow for more. Thanks :)
$SPX | Bearish Move ConfirmedIn light of pandemic, the SPX Index will fall to levels defined on chart. Recession is now in session.
Good Luck.
It is time to accept reality..Ladies and Fellars I try and stay as bullish as possible, but this is probably the most optimistic TA based off the current reality (Even if it doesn't seem optimistic)....
The reality is, life is going to get much worse for all of us in the USA before it gets better, any rally before the virus comes runs its course through the USA will be a defeating false hope that will likely destroy your emotions. Some of us may not like to admit it but in the USA we overreact and when stuff gets bad we will overreact. That being said we will see small pops, maybe, but they will fade quickly, just like Europe this morning.
We may technically be up from yesterday but be cautious Spy is struggling to hold itself high..
A simple falling wedge with room still to fall. While I could be wrong I would say the likely and best positive case short term is a slow bleed, rather than steep fall because no matter what happens day to day over the next few weeks we will likely keep falling.
Let me know your thoughts..
Buy opportunity on NASFed is supporting the stock market as much as possible, in this virus spreading a hard time.
I present my 2 possible entry to buy NAS100. Hope things will get better eventually.
SPX - 5 Year IdeaWith the events that are currently spurring around the world it poses a great question as to whether a bear market is possible to be sparked in this climate. Only time will tell, but the historical trend line on this chart by itself looks plausible...
50%+ declines have been seen numerous times throughout the past 100 years, and as its been a longer than usual period without a sharp decline that could signal one to be just around the corner.
- COVID-19
- OIL price war
- Historically low interest rates to spark consumer spending (stimulate the economy)
- High house prices
- Manufacturing slowdown (especially in the EU)
I'll be consulting this chart in 5 years time to see how wrong I was - or right...
Look for more downside in the coming days :(We have broken the 200 day moving average and we are only hearing bad news in the media. I see more downside on Monday, lets hope we can get a reasonable bounce at $2800.
DJI ~ The DOW on course per my predictionThe DJI fell shortly after I called it out.
It is acting very closely with the fib retracement.
20k by EOW followed by 18k is near future. Hold tight as there is no clear asset class that is showing to be acting like a safe haven. I wouldn't by shy about buying a little bit of precious metal as well as crypto and diversifying within the market as it is uncertain with what is happening.
Cash may be king until everything is hashed out.
Place your bets.
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Also, I encourage you yp criticize anything about my view.
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Looking for a short term bounceWe are def. oversold! I'm looking at a upward bounce on Tuesday, hopefully we can break out of the channel and stop this horrible downward momentum. I think we will at the least test the top of the channel, hoping for the best.
Short term bottom printing It seems that this brutal drop of SandP as found a bottom for a nice bounce, Could this be a buy the dip?
S&P FUTURES - POINT OF VALUEALL TIME HIGH WAS AT A PROFIT TAKING LEVEL - FIBONACCI EXTENSIONS 1.61
50EMA ON MONTHLY HAS BEEN RESPECTED WILL NOW BE A POINT OF VALUE TO GO LONG.
NEVER EVER TRY TO CATCH THE FALLING KNIFE
How to Read Pennant Price Action More AccuratelyWe're all here on TV for the same reason, to become better traders and to make money. I came across this tip not too long ago and found that it really helped me read the price action better within pennants, so I wanted to share it with the community.
Pennants form after a strong movement in price (either up or down) where the price bounces back in forth in a small area before it has to make a decision of where to go. The rule of thumb with pennants is they tend to break out in the same direction they were entered. This is often referred as a continuation pattern, where the price continues in the same direction it was heading. If the price was heading up, it will more likely than not break out to the upside and continue upward and vice versa. However,
I noticed many times pennants not following that rule and I paid the price for being complacent in my trade. That was when I got this tip from Francis Hunt (highly recommended analyst) and it has really helped in anticipating where the price action is headed.
Looking at WRX, notice how the price has strong spikes up in the price, followed by slow sell offs? This is bullish price action where the buyers are in control and it often leads to breakouts to the upside. I am merely using this price action as an example. WRX is a newly listed coin on Binance that did 9x in its first couple days on the exchange, so take this example more for the price action behavior than as evidence that it is going to explode to the upside.
Now look at the pennant I have to the right of that. It entered the pennant on a bullish breakout so the price should continue in the same direction right? Well take a look at the price action inside the pennant. Notice the difference in how the price is reacting? In this case, each time the price slowly rises and is met with a sharp fall. This is an indication that the sellers are in control and you should be cautious of a strong breakout to the downside.
I hope this tip helps you gauge your future trades into pennants more accurately. I have found that it has helped me dodge some sharp falls and take advantage of some big gains. I suggest you start searching the charts and analyzing the price action within those pennants to see if you notice this pattern as well. I hope it serves you as well as it has served me.
sp500 bullish sp500 closed at resistance level if it break it will have to test another. if market doesn't open with gap it will reverse from here
Gold Indication of Market Retrace :: 10YR Yield and S&P 500This post was encouraged because of the Economic Forum being held in Davos, Switzerland.
The last 3 years (roughly since mid 2017) contained talk around trade war. This has caused chaos within the markets. We have moved up and down 1000's of points with no specific direction.
It seems that September 2019 has shown the true colors of the market sediment. We can identify the percent returns of the 10YR yield, gold and S&P 500 from this date. Things have not been adding up and has been blurred by the DOW hitting new highs every other week, misleading investors.
Nobody is saying to liquidate but a rotation of wealth is underplay. I do believe that this is a rotation of wealth that is not our normal move into commodities/metals but potentially something larger.
Impeachment trial proceeds today during the start of the Economic Forum. Is this to sway attention towards Davos? We will never specifically know until everything pans out.
The chart speaks for itself with presenting the data.
I would like to hear anyone's thoughts, ideas and/or theories.
Tesla Stock is Vulnerable to a 40% Elliott Wave DeclineTesla, Inc., formerly Tesla Motors, Inc., designs, develops, manufactures and sells fully electric vehicles, and energy storage systems. Its market cap is approximately $86 billion.
In Tesla's case, investors have been too optimistic recently. The stock is up 186% in the past six months, climbing from $177 low in May 2019 to $499 this month. Unfortunately for the bulls, no trend lasts forever. Therefore, once investors run out of optimism, the stock is likely to fall significantly. The question is, How soon?
In order to find out if Tesla stock is a good pick now near $500, let’s take a look at its Elliott Wave chart above.
The daily chart shows Tesla's entire progress since May 2019. As visible, the price appears to have formed a textbook five-wave impulse pattern, labeled 1-2-3-4-5. It certainly has been a wonder to behold while it lasted. The problem is the Elliott Wave theory states a three-wave correction follows every impulse.
Normally, the corrective phase of the cycle would erase the entire fifth wave. For Tesla, this means a sell-off to the support of wave 4 near $327.
The Moving Average indicator reinforces that the price is overextended. If this count is correct, the next couple of weeks can be a lot different than the past two months.
What's your view on Tesla Stock?
A Fairly Accurate Timeline of Trump's Speech Vs. S&PWell it looks a lot better on the 1 minute chart, but I tell ya... It's fun to watch everytime ol Trump gets up there.
This is as I said "Fairly Accurate" The times may be off, but not by much i can guarantee that.
Let's Talk about it.
Correction TimeThe S&P has entered the danger zone (red box), which is based on the .618-.768 fib extension from the last pullback.
Looks like the rising wedge has impulsively been broken.
We could see it retest, and reject again, but don't be surprised if we have some red days into the new year.
Currently I am long the VIX, and Silver & Gold Miners
The S&P 500 Index Weekly And The 9.618 Fibonacci ExtensionHello Traders,
This is the weekly view of my monthly chart. Check Related Ideas below.
I want to share my view on the S&P 500 Index.
I have shown the monthly chart which goes back to the start of the S&P Index as far as I know. From here I have used Elliot Wave theory to mark primary wave 1/2 around the 1930's crash.
After the Great Depression to "stimulate" the economy the government first cut dollar ties to gold. Then in 1971 the dollar left the gold standard.
The market went on a massive bull run for 67 years with gains approximating 32,500%
This bull run topped in 2000 which was the year of the dot com bubble. I have marked that peak as the top of primary wave 3. The market then went through a brutal ABC correction with the dot com crash bottoming in 2002. Then when things seemed to be on the way back up the housing market crisis happened in 2007.
This series of events was devastating for the economy and is widely considered one of the worst financial disasters since 1930. The economy has not recovered properly since.
I have put a series of fib sets on this chart which are quite interesting. When price approaches the 8.618 + range this is usually a danger zone.
Price is approaching the 9.618 extension on the black impulse set so I am expecting something to happen here. For a wave 5 this might look a bit small but lets see.
If price does push past that fib set then the bear wall is next resistance.
Gold & The Coming RecessionShort term Gold prices will fall going into mid April 2020. After which there will be a strong correction in the stock market as the economy heads into a major recession which will last for 18 months. Capital will seek Gold as a hedge driving up Gold Prices going into mid December 2020. There will be a short 1 month recovery after which the trend will continue throughout the majority of 2021 with a peak in Gold prices around mid November 2021. This chart coincides exactly with a chart I posted showing this 18 month correction in the S&P 500.
