Overbought indicators are of little use when markets are obsessed with rate cuts ahead of a key fed speech. Jerome Powell will speak at the Jackson hole symposium and Friday, and expectations for a dovish show are high. And that's helped Wall Street indices extend gains and the allowed the ASX 200 to tag along for the ride. But if this turns out to be a classic...
I see a common connection when looking across Wall Street futures, ASX 200 and the Nikkei. They're all retracing higher after a large drop and grinding their way towards resistance levels. And that could appeal to bearish swing traders. ASX 200 futures (SPI) are within their 8th day higher. And as they have only recouped around 2/3rds of the drop rom the fall...
The sharp fall from its record high remains the dominant feature on the daily ASX 200 futures chart. Whilst this is likely to suppress appetite for risk for some time, Tuesday's bullish hammer suggests bears are in need of a break. The false break of the April low has been followed by a higher low and higher high on the 1-hour chart. Prices are now trying to form...
The ASX 200 futures contract (SPI 200) snapped a 3-day losing streak overnight, and with Wall Street trying to shed last week's losses and the Nikkei and Hang Seng finding support, we suspect a bounce could be due for the ASX today. The daily chart found support at the 20-day EMA and monthly R1 pivot and closed back above the May high. It is now within 1-2 day's...
One more instrument that we discussed on the today's live stream is US100 Index. This week, the market updated the all-time high, violating a key horizontal resistance. With a very bullish fundamental data, the Index has a nice growth potential. Next resistance - 19300 ❤️Please, support my work with like, thank you!❤️
SPX is ready to drop 4+% by April to close the gap 4910
Price action analysis for Nasdaq. Important key levels. Potential scenarios. Trading plan. ❤️Please, support this video with like and comment!❤️
NASDAQ Index broke and closed below a key daily horizontal support. The broken structure 14200 - 14300 area turned into resistance. I will anticipate a bearish continuation from that. Goals: 13950 / 13680 ❤️Please, support my work with like, thank you!❤️
S&P500 Index perfectly respected a horizontal zone of demand on a daily. The price formed a double bottom pattern on that on an hourly time frame and violated its neckline. I expect a growth to 4393 level now. ❤️Please, support my work with like, thank you!❤️
S&P500 Index is currently testing a key daily structure support. To buy the market with a confirmation, watch a double bottom pattern on 4H time frame. 4487 level is the upper boundary of its neckline. If the price breaks and closes above that on a 4H, it will be a strong bullish signal. A bullish movement will be expected 4517 level then. Alternatively, if...
S&P500 Index formed a head and shoulders pattern on a daily time frame, trading in a bullish trend. The breakout of the neckline of the pattern signifies the local exhaustion of the buyers and highly probable coming correctional movement. I expect a bearish movement at least to 4465 ❤️Please, support my work with like, thank you!❤️
After NFP data on Friday, US30 turned bearish. The market broke and closed below a support of a horizontal trading range on a daily. It will most likely push the Index lower. Targets - 34950 / 34700 ❤️Please, support my work with like, thank you!❤️
NASDAQ Index broke and closed above a neckline of a cup and handle pattern on a daily, following the yesterday's CPI report. Taking into consideration, that the index is trading in a strong bullish trend, that violation will most likely trigger a strong bullish wave. I will expect growth to 15600. For entries, consider an occasional retest of a broken...
SP500 is likely to slide today in what I see as wave of expanded flat. After this correction there is likely to be another leg up which may take shape of an ending diagonal since the market is in the process of rolling over.
S&P500 Index formed a huge ascending triangle formation on a daily. Its neckline is a key horizontal resistance. To catch the next bullish wave, wait for a bullish breakout of 4215, it will confirm the violation. A bullish continuation will be expected to 4300 then. ❤️Please, support my work with like, thank you!❤️
NASDAQ broke and closed above a key weekly horizontal structure resistance setting a new higher high higher close. It makes me think that a bullish trend may continue. Next long-term goal for buyers - 14850 ❤️Please, support my work with like, thank you!❤️
S&P500 Index reached a key horizontal support. The price formed a double bottom, approaching that, and successfully broke the neckline. I expect a pullback at least to 4100 with a potential continuation to 4130. ❤️Please, support my work with like, thank you!❤️
So it looks like the NFP is certainly bullish for S&P500 index: Approaching a daily zone of demand, the price formed a double bottom formation on 4h, successfully violated its neckline and reacted positively on its retest. I will expect a bullish continuation and retest of a local high 4137 ❤️Please, support my work with like, thank you!❤️