Hello, Traders Investors And Community And welcome to this extremely important foundational analysis about the stock-market-crash situation, where it is going and why the end of the bear-market could not be there already as some people believe. Last days and weeks we saw a recovery but this recovery is actually playing fully into the Wyckoff distributional events...
As noted in this analysis - I think this was a big shakeout before the real bull! & bear market. Similar to Ethereum and Bitcoin in their bullish cycles (they both had shakeouts) This one is surprisingly similar to Ethereums cycles They even have the same fib relations Looking forward to this! I think it will drop another 10% or so on the short term but...
SPX short - ABCD pattern Target 3185, SL 3305
SPX500 is approaching its support at 2694 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizonal overlap support) where it could potentially rise to its resistance at 2760 (61.8% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is approaching its support at 5.1%.
S&P 500 INDEX SPX how it's going ? It was really on top treading but now it going in down . OMG.. Who have much stocked this one ? i think he is legend . Look up in very carefully .
SPX500USD is testing its resistance at 2828 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially fall to its support at 2790 (38.2% Fibonacci retracement, 100% Fibonacci extension, horizontal swing low support). Stochastic (55, 5, 3) is approaching resistance at 98% where a corresponding reversal could occur.
SPX500 is approaching its resistance at 2802 (100% Fibonacci extension, 78.6% Fibonacci retracement, horizotnal swing high resistance) where a potential reversal might occur, causing price to fall to its support at 2675 (horizontal overlap support). Stochastic (89, 5, 3) is approaching its resistance at 99% where a corresponding reversal could occur.
The chart is self explanatory. I don't expect a recession; over-all economic health seems good. Although a correction is possible. A small high leverage position could be very profitable in the upcoming month.
Let's continue with the Daily Chart. I know, I know. Waaay too many lines. Don't worry, you'll get it. So, we are looking at the year 2016 up until now. You can see that since Trump's victory in last November price can't be stopped. Technicalwise, it can be clearly seen that the ups and downs were formed like in the book. Now, the two red lines show that the...
On average every ~6 months, S&P500 moves down through the EMA200. It means April should give us strong move down in SPX.
The structure of the down- and upmove was corrective - that is typical for an EDT. Wave 1 and 2 are ready.
This is getting unsustainable, I don't see it going anywhere but down over the next 3 months. Could this be the bagholder's last ride after the end of QE? Just when they thought that the end of QE isn't going to affect stocks at all, it'll hit them even harder by surprise. I'm adding more short position here as we move on...