Selling previous support on SPX.US500 - Intraday - We look to Sell at 3834 (stop at 3889)
The medium term bias remains bearish.
We can see no technical reason for a change of trend.
A firmer opening is expected to challenge bearish resolve. Resistance is located at 3840 and should cap gains to this area.
We look to sell rallies.
Our profit targets will be 3701 and 3680
Resistance: 3840 / 4150 / 4320
Support: 3700 / 3280 / 2475
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Spx500short
SPX: The 4 Horseman of the Apocalypse"When the Lamb opened the fourth seal, I heard the fourth living creature saying, “Come!” Behold, I saw a horse, pale greenish gray. The name of the one riding on it was Death"
Hello, and welcome to the Apocalypse :D
With SPY/SPX recent moves, I thought I'd scan history to see if there's anything unique about the pattern we see today. I wasn't disappointed.
The best way I can describe it so far is a decline + 3 bear market rallies that I highlight here (weekly charts):
This pattern has been present 5 other times in history, 4 of which ended in declines ranging from -37% to -56%. After the 3rd bear market rally, a 4th comes. The 4th horseman of the apocalypse signaling the end is nigh!
Keep in mind that recognizing patterns has an element of bias to it and these were all identified to the best of my abilities.
Hmmmmmm...
1966
23% move down from the highs
238 days from top to bottom
1968
37% move down from the highs
532 days from top to bottom
1973
50% move down from the highs
630 days from top to bottom
2000
50% move down from the highs
693 days from top to bottom
2007
56% move down from the highs
511 days from top to bottom
Another interesting thing to note is that they seem to happen in sets of 2 with the second downturn moving 10%-13% lower than the first low.
1968-1974
2000-2009
If this pattern does in fact play out, it would mean this chart can guide you into the future of when to buy for the next bull market, and when to sell before the next decline. What's also interesting to take note of is that although our current issues of inflation are more related to the 70s than 2000-08, the market movements are more in line with the speed of 2000-08. 68-73 slowly fell from the top and then quickly fell to the bottom whereas 00-08 quickly fell from the top and slowly fell towards the bottom (time wise). For that reason, most of my predictions are based on 00-08.
Lastly I'll post my projection for the end of this recession. You can look at my previous post which mapped the exact moves of 00 and 08 based on time and percentage.
SPX is at its support trendline off Sep 1st and 6th lowIt was a crazy day, as always after FOMC.
Im expecting this move down to reverse completely and more by Fri.
- Main resistance is at 4012-15SPX on weekly closing
- Daily resistance is at 3802-17, 3850-55, 3895 and 3935
Tomorrows support (if the AHs price wont be reversed by the open) levels:
- 3752-50
- 3721
- 3680
I expect 3721SPX holding strong on closing level and wont rule out an overshoot to 3680SPX
SPX daily targets 3475-85SPX by Oct 28-31st
ES support trendline hit
- resistance is at 3825-35 for tonight
If we open green or flat, it will be a bullish sign and I will be looking to enter with longs and ride it till at least over today's highs.
Otherwise will be looking to buy at 3752 and 3721SPX tomorrow for a good size rally back to 3890-95 or so.
No point to over trade this but trade the levels of importance
Have a good night
Next 3 days will hurt unless ...I am marking the end of wave 2 with today's high post-Fed. Wave 2 retraced Wave 1's movement near 24% which was greater than the first quartile.
My models are pointing at wave 3 to now last 3-6 days. The historical quartile extensions are listed with waves ending in 533 being yellow and waves ending in 33 being light blue. My bottom for now is likely between 3600-3636. We should take out the June lows in this wave. Still looking at a final bottom in late October below 3400. Wave 3 should do a bulk of this work so going below 3600 may need to occur in order to get below 3400 later next month.
Fed will meet right before election day and will likely attempt to not rock the election boat; they may only raise .50 or .75 at that time. I still project the final bottom around election day and then we fly much higher toward next summer. Another possible catalyst for upward movement could be an end to fighting in Ukraine. Inflation is not going to get better with continued inaction, so a positive black swan is also possible.
SPX500 Stock market seeks new supportHello trader Today I prepared a new idea for you. Like and subscribe to the channel there is a lot of useful information✅
Friends here, it was expected that it would be 0.75 bp + J. Powell's speech
The stock market reacted instantly, downward movement and falling at the moment, 3.900 support is now a strong resistance, I think the next stop will be at $3.750-3.700
The rate hike will continue until the end of this year to 4.5%, so the Fed is afraid of inflation, which needs to be lowered.
SPX one more big bear channel visualizationA slightly lower into my 3802-17 level will be a perfect hit of the lower trend channel.
NQ already broke its on to the downside! Important to note
A right shoulder fake rally will be perfect before it really drops into Oct/Nov lows
Also dont be surprised if it breaks, then look for the retest of the broken trend channel from below
P.S. Dont forget to like (click star-ship button) my posts, so it gets pushed up on TV for others to see as well.
Thanks in advance!
SPX possible H&S pattern targets 3500 or soI have changed the color theme on my chart and removed everything I could to make it clear for those who are having troubles reading my charts.
Look what I just saw!
Let me introduce a possible pathway after tomorrows FOMC announcement.
On June 15th we have spike up and had a big range day. Then next day the price gaped down and made new lows.
I see kinda similar pathway were we either make a new low in am - 3802-17 and maybe 3795, then rally up to 3925-65SPX level to make a right shoulder. (I prefer 3955-65 in case we see low of 3800 in am)
Then the price can start moving fast and get below 3700 even by Friday, bottoming on the 27th in Tuesday turn around structure.
That low can be as deep as 3500! I have fibs supporting this possible move down from 3680 to 3500
So my plan for tomorrow, exit shorts (partly) in am and go long for a FOMC squeeze. Then short the close and hold into the 27th low.
Please do your own risk management as the price can be very volatile and will take both sides in stops (been there done that)
22nd is a reversal day of whatever day we get tomorrow and should bottom or top on the 27th. So if in fact we see selling after the FOMC, then I will be looking for a long at the end of the day instead of shorting the hole.
- 3802-17, 3752 and 3721 are the support levels to watch!
I will leave this right here.
Feel free to share this update with anyone.
P.S. (Sometimes Im getting interesting comments like my charts make people seizures (those people dont even follow me).
Just want to make it clear, that Im not here to make it pretty, Im not selling a anything to anyone or make money out of my posts. I do post my updates just to share with those who will appreciate that work and use it for their own homework. So please no need to even follow or see my charts if you cant read them, that means you're very new to the markets and need to do more study and learn simple stuff like moving averages, support/resistance lines as well as trendlines etc. All my charts are working progress, please respect that as well as my time)
SPX to retest broken trendline from the bottomMain resistance for the SPX is:
- 3942
- 3952-60
Support cluster is still the same:
- 3802-3817
- 3750-55
and much lower (check my last SPX update)
Im currently long ES and some SPY calls and will be adding to my swing short NQ position tomorrow and ideally on Wednesday.
- 3955 and 3975 are the 2 numbers where I will be adding to my short position.
In case of a super bullish case (like the one in NQ going to 12700), next resistance level to short is:
- 4025-35
So far Im looking for lower level, again please see my latest SPX update (link above)
And I think there is one big move down is coming up very soon.
Ideally we bottom on the 27-29th and rally hard into early Oct where we should see lower prices printed before this is over and another 11-14% rally starts
Have a good night
P.S. Dont forget to like (click star-ship button) my posts, so it gets pushed up on TV for others to see as well.
Thanks in advance!
Posted this on the 12th of Sep, playing out so well!!!I did post this warning on Sep 12th as well as emailed to those who are on my email list.
Check the MACD on that day and now! It created a hook and continued lower, bearish!
Some people noted and didnt get trapped on that day, it was daily high close
DO NOT GET TRAPPED Today!!!
Dont short this red whole!
Have to leave, will be back in few hours, again dont get trapped on the short side today!
P.S. Dont forget to like (click star-ship button) my posts, so it gets pushed up on TV for others to see as well.
Thanks in advance!
Watch for S1 to hold on closing level!S1 is right at first gap to fill 3831, can act as a very good support.
So again, its a day when I will be buying longs, question is from what price.
Ideally I buy at 3802-18 level, but might buy at higher price if I see that S1 holding into the close and no new lows.
Please note
Futs can always extend into AH's session
DO NOT GET TRAPPED Today!!!
Dont short this red whole today!
P.S. Dont forget to like (click star-ship button) my posts, so it gets pushed up on TV for others to see as well.
Thanks in advance!
SPX500 continues to kill the cryptocurrency market!Hello trader Today I prepared a new idea for you. Like and subscribe to the channel there is a lot of useful information✅
After the release of the results on the consumer price index from the FOMC, the downward movement continues, what to expect next?
Speaking from the technical side, the asset has broken through the global trendline, which was a strong support, I expect the next stop in the zone of 3700-3750
Also, do not forget that next week the FOMC is expected again on the key rate, there will be results of an increase by 0.75 bp, we should expect again volatility in the stock market!
SPX Sep 16th updateThe price has broke down and Im waiting for 3880-86SPX to be lost.
Ideally we gap down below 3880-86 and it becomes a resistance.
Futs already down and below those numbers if convert to SPX.
My pathway for tomorrow is to buy a gap down to 3802-18 for at least a day or 2 bounce.
- There is nothing but air after 3880-86 is lost, all the way to the numbers above.
- If we loose 3800, next support is not there till 3750-52SPX
Im looking for a low in am and reversal into the close and Monday/Tue high
On the other hand we held 3888 level today, close enough to my support zone, so if it gaps up, it could be quite a big squeeze imo. But I give low odds for the gap up scenario.
Its a weekly closing, important numbers to watch are:
- Weekly support is at 3720-22SPX
- Next weekly support is at 3635-40SPX
- Weekly resistance is at 4018-20SPX
We should bottom next week, ideally at or after FOMC decision, then rally up in another bear market rally into second week of Oct and continue lower into Oct final low for this year.
- Next week low is expected to hit 3750 or 3680SPX
Final low I have is at 3580SPX. i was looking for 34-35 handle to get hit, it should get there sooner then later imo
If it gets hit next week, then we will see 32 handle in Oct
The trend is down till it's not!
Have a good night, rest and get ready for tomorrow...
P.S. Dont forget to like (click star-ship button) my posts, so it gets pushed up on TV for others to see as well.
Thanks in advance!
S&P with dotcom overlay - is the S&P heading for a 50% fall??The chart shows the current S&P price action with an analog overlay of the dotcom bear market.
Scenarios;
1/ Near term support at 3900
2/ Mid term support at 3600
3/ Longer term support at 3200
A break of all 3 of these support areas could possibly see a fall to 2345 or even covid19 lows.
SPX Sep 15th mid day updateI was sleeping in today, no point to trade this market but hold swing short position.
Mid Bollinger or 20MA crossed 110MA on daily, not a good sign for the bulls. MACD is still making new lows.
This seems to get to 3680SPX by the FOMC decision or right after.
Main resistance now is at 4030-45SPX
Mid resistance is at 3970-85SPX and I think we wont get above on any test, like it came short yesterday.
I will short 3970-85 level for a continuation of this move down
So far its breaking down here to my eyes and should follow through soon.
Main support is at 3880-86 now! On closing level
I will be trying long at 3880-86SPX tomorrow am, but its OPEX day and all the quarterly hedges will be off the lines and this can unleash much bigger swings in both directions, but main direction is down.
After the FOMC meeting 3680 should produce a good size bounce and ideally we see lower in Oct, 35-34 handle is very doable imo.
So need to over trade this as it chops both sides!
2HR - ES1 WENT HIGHER THAN SPY/SPX - NEXT WEEK SHORT I wont rattle off the fundamental reasons this was all a A FOMO RALLY to retrace the last sell off..
Now we are done and can see a Red Week
C.P.I number will be a catalyst ....and since the FEDS are signaling another .75% hike next following week
So to all my bearish friends
-------------
And the solid candles' red glare, the gamma bursting in air,
Gave proof through the night that our SHORT was still there.
O say, does that open position yet wave
O'er the land of the free and the home of the brave?