SPX is setting up for a squeeze into 4050SPX zone of am lowsSo far so good from my yesterday's update. We should test 3760SPX (already did on the ES), with an ideal stretch to 3735 in am.
3725-35 is a must hold for today imo, otherwise it opens a door to 3662SPX, which I'm not in favor to test just yet.
Looking to exit remaining short at 3755ES from yesterday's close and start layering in with longs for a potential 200-250 trip into the 4050 zone
Spx500long
SPX setting a up a test of 3760, next is 35 for the EOM runIm back from my little trip. So far so good since my last update, we are going to test 3760 and ideally 35 today/tomorrow and then a run back to 4017-20 by the 4th-6th.
There is a chance we see 3500 sooner then later, so have to be very careful in sizing on any trade.
Im going to buy longs today starting from 3780 and 60 will add if we see 35
ES is at Bull/Bear lineES is at Bull/Bear line, hit 110 MA and 50% retracement. A real test of who is in charge is right here.
As well as ABC move up with perfect 100% extension hit on the SPX close.
Jumping over the 110MA and test from the above will be a good sign of continuation of this move.
There is also a possible fakeout to watch.
A perfect place for a pause of this move up and some retracement.
An ABC move up to 4017SPX or so is what Im looking for with A being done and we get to test 3730-40 zone before the continuation higher.
Ideally we see the whole move going into the 4th of July weekend!
Im slightly short as of close, kinda risky trade as this can just continue extending to 1.618
Will send a separate email with more charts to those who are on the email list.
Enjoy your weekend, lots of volatility is coming after the 28th, so prepare for huge moves both ways
SPX must close the gap or it will be very bearish imoSo far so good from yesterday's update, we gaped up and the longs must be very profitable to those who followed.
Must close the gap today or Monday, otherwise this could be a stop run and the target will be 3585-90SPX (fibs agree if we top here)
Otherwise another breakout on Monday would do it and the main resistance is at 3970-90SPX, which will be heavy shorted by me
Watching the close of the gap now, which is super close @ 3900.16
SPX crucial support 3636Weekly closing price is the price available for the world for two days.
It is the maximum resting time of a stock or index price, than daily or even monthly.
All investors ,traders, institutions, owners are scratching their heads for next action
So we have some logics;
Every thing is out, inflation, rate Hike, corona lock down, supply chain lock , BUT remember market is already factored in.
public is under fear of recession, market collapse ,thanks to Media for over shouting .
what they will do? they wait for Monday to sell their stocks
what smart BULLS do? they will always act fast before the public realizes
they BUY at low level (market oversold to the level of 2015 )
As per EW counts, 'Y' wave will end at 3636 (X*1.618)
as long as this level is supported by smart BULLS, we have another new Rally
SPX - RSI Analysis Two periods can be observed on the RSI for SPX on this 3Monthly chart
A downward trend which correlates with a sideways move on the relative timeframe
And a small uptrend that correlates with sharper growth on the SPX, these begin within the green circle
These green circles show very comparative structures, however one is during an up period, while the current one is during a sideways trend period
Price will very likely continue through the up channel on this larger timeframe
SPX Long Term View 4300 becomes the main resistanceMy weekend update is a day early, I will update those who are on my list with a bit more details on shorter time frame view tomorrow.
We are in a bear market and those 5500 callers got destroyed all the way down calling every bottom from Jan.
This is my long term view and I think we have bottomed here today or super close to it!
I got targets for the potential bottom left, all SPX:
- 3643 (came super close to it today)
- 3688.50
- 3555
We clearly had 5 down or A completed on this move! Now the time for the B (still think this will be an ABC correction going into Mar of 2023)
My main target now is 4300, down from 4425. Extension target now is 4425-45 down from 4600
110MA (descending every day) becomes the main magnet for the move up to hit at least
I got 2 main targets to hit for the C, one in Oct/Nov of this year and next one is Mar of 2023.
Ideally we see the first target hit and then some sort of damage control move into the EOY close and finish up in to 2600 handle (2800 at min) in Q1 of 2023.
I was saying for a while now, that the whole move from 2020 will be erased this year, its getting supper close to it now!
That yellow dotted line is line in sand for the bears and bulls, break it above and test it from the top will make me change my view to the whole view and look higher.
Before it happens its the main line Im paying attention to now.
Have a nice day
P.S. next week should rally up and ideally we make a higher low end of the month before the window dressing rally
SPX Swing/Investor TradingAs we fall Sharply On the SPX, we can assess where the monthly Trend Trader would look to start to get long..
Remember, yes it MAY correct further. But as always its a MAY based on TIME. Ultimately, as lots of harmonic Traders look for are Very long term targets. Hitting these is also inevitable and realistic, but it must be matched by CORRECT position size VS the time it takes to get there.
Sometimes its BETTER to be in and than out based on your capital available.. If you are out and waiting for an absolute ultimate price.. You will be waiting a while mostly because it has to occur on the HIGHER Timeframe charts.
As with most equity markets you will see them RISE as World economies grow. Scaling in and taking gains On the LONG side is an option so much as you have good Risk management. This entails Hedging where necessary and appropriate position Sizes VS account Equity.
SPX is at the bottom of the channel again! Bottom Alert!SPX supports for today are 3689 and 3678
Today must close above 3710!
Its at the bottom of the channel and lots of support is right here and now.
Im out from my overnight short and not taking more of those at the point.
Closing below 3640-50 will trigger a crash, Im not in that camp but something to watch!
Im expecting a trip back to the mid channel (around 3900) by the end of the next week, starting tomorrow
Must hold the opening lows!
SPX UpdateDoes look like a gap up tomorrow to my eyes. I got some lotto calls for tomorrow/Fri
Support 3775SPX
Overnight support ES 3770-80 and 3745
Main resistance is 3885SPX and one more at 3855SPX
Im mostly bullish, will add if we get another weakness tomorrow am.
Might update the chart with more info later on
SPX rejected both 3710 and 3730SPX support, tomorrow will gap upSPX rejected both 3710 and 3730SPX support. Maj daily support was 3710.
Tomorrow should gap up. There is a chance we still see my 3696.50 tomorrow, but in idea we should gap up tomorrow and repeat the Mar Fed day.
Im out from 80% of my short, and keeping only core longs going into the FED day.
SPX gaps to close are:
- 3900
- 4017
Failure getting above 3957 after the FED will get us another washout to 3665-68SPX
Ideally we gap up tomorrow and make a higher low after the announcement. As the hike is already priced in imo
SPX - one more possible target - 3696.50One more calculated target for the potential low of this move is 3696.50
Im expecting a run up after the FED back to 3975 or so and make another low to 3665-68 or 3696.50, it might make a higher low, but the pathway is the same.
Then summer rally after the July 4th weekend
Significant BottomThis chart shows the baseline of the Ichimoku Cloud for the monthly candle of the S&P 500 (SPY) ETF. We've finally reached a level that virtually always supports the S&P 500 outside of recessions. It is likely that prices will find a significant bottom here. However, if inflation continues to spiral and prices drop significantly below this level, then it is quite likely that the economy will enter a recession (if one hasn't already begun).
SPX leaning bullish for todays close going into tomorrowLevels of importance are:
- 3805
- 3885
Im looking for a move up to close the gaps up to 4k into the FED or right after and then sell off to 3665 zone I mentioned in my yesterday's update
The full wave, which is making the 5th now if EWT talking could extend all the way to 3581.5, quite close to me other extension target of 3555, something to watch in case we wont close the 4k gap after the FED!
SPX close levels of importance - 3749 and 3805!3855
3805
3789.50
3749.50
3694.00
This is getting close to a capitulation move. Closing at the lows will get us lower open, ideally we get up off the ground into the close.
Its time to start scaling in with longs with potential move down to 3665 and even 3555
The move up in summer will be at least back to 4300 to ideal 4425SPX