SPX had 61.8 retracement on that chimney spikeSo far its a text book 1-2 setup to the downside.
2 targets are on the chart with the red arrows there pointing to each target
I did few longs today and now positioning myself short
Ideally the price sell into the close and we see lower next week for a 22-23rd low
Have a great weekend and dont over trade during the Fri OPEX fckery
US SPX 500
es 11-16good afternoon folks,
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es kinda looks finished, but remember what i mentioned in my last post. there's a lot of hungry bears trying to short this, and they're all piling in at this local golden zone.
wouldn't it be inconvenient for the market to put in another fat leg up to ruin their day?
>that's exactly what i think's going to happen.
👇
4130--->3222
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ES chart, nothing changed from last nightI wont be surprised to see 3900 test and then one more up from the bull flag.
If 3900 holds we should see 4100+ move on the last leg up.
The amount of puts is insane, unless I/we dont know something, its a retail/perma-bears trying to short every top and you know what happens to those puts when P/C ratio is so up.
I also start to see some really out of the money SPY put prints, like down to 300-335, which I havent seen last 2 weeks
Today is a turning day as well as tomorrow and the day after, so a lot of choppiness is expected and trading levels will be rewarded imo
There could be a start of the real move down only after 22-23rd going into EOM where Nov 30th is a panic cycle day.
I will be looking to buy next low and currently short ES from 3960.50 with a 9 points stop. Will exit half at 10+ points gain and will move the rest at BE
ES above 4001 it explodes, below 3960 goes down to 3900-10I have marked resistance to take and support to break.
Did a quick long from 3972.5 long and already out at 3983.50.
I will jump on a wagon if it break either side, so far no mans land, need to see the real move here.
My thinking is that we get a fakeout in am and sell off into 3900. But I will be looking at the resistance test (if it breaks) and will do a long with a stop.
There is a clear bull flag and as well as roofing pattern on the charts, so really need to see a move in a right direction to enter into a trade, waiting at this point
There is a turning day tomorrow and the day after.
I wont rule out a cycle inversion and a high on the 21-22nd instead of a low.
The maj resistance/support levels were provided.
Closing above 4010.50SPX will be bullish going into the next cycle of importance.
There is a huge option flow to expire on Fri, so a fakeout and dump from there is very possible
A close around 385 will be ideal to kill all the premium out there. There is also a big 390 put wall for this Fri exp.
Main support for the SPX is at 3750.
Daily supports are at 3950-52SPX and then down at 3907-13SPX
Have a good night
SPX outside reversal, evening star on the dailySPX outside reversal, evening star on the daily
The close is below highs from last few days, bearish close.
Tomorrow is a panic cycle day on SPX and Dow has one on Thursday.
If there is a strong sell tomorrow, it will last at least 2 days and wont be one day event.
Remember this if will try to catch the knife, IF we get a good sell tomorrow
Im short
SPX is gonna continue the bearish TrendHello!
SPX is in a Descending channel. The Price is gonna Keep falling for now it seems. the Price haven't touched the top of the channel yet so this means the price will Increase a bit before Descending further to the point where it touches the bottom of the channel.
Last attempt to take 4050 or wait for a rollback?Analysis of the spx 500 index 11/15/22 Today we are here to talk about the SPX 500 index.
And so let's see what happened to the index over the past day.
What's on the market now:
Today the index is trading at the level of 3957. Yesterday we saw an attempt to increase the index to the level of 4050. This attempt was unsuccessful, the index only renewed its highs. As I said, the level of 3970-4050 will stabilize in the movement of the index. Today, I expect the market to make one last attempt to rise to the 4050 level, but if this attempt is broken, then we will see the index pull back to the previously expected level of 3920 - 3860. Today, the market remains likely to move towards the 4050 level, although the market strength is weakening.
What I'm looking forward to today:
Today, I expect the index to try to rise to the level of 4050, and then the index pulls back to the level of 3920 - 3860. But if the attempt to increase the index is broken, then we will see a sharp movement to the level of 3920 and below.
Here are my trading recommendations for today.
What I recommend
If you want to go short:
Short positions are possible from the 4050 level. This would be an ideal place to go short today, limit your losses.
If you want to go long:
Long positions are possible from the 3900-3860 level, this would be an ideal buy spot today, limit your losses.
If you are out of the market:
If you are in a non-market, then you need to have the ideal price to trade. Long positions are possible from 3860 - 3920, limit your losses. If you want to open a short position, then it is better to do it from the level of 4060, 4250. Limit your losses.
Also remember to contact me in 2 or 3 days for further trading advice.
Subscribe to my channel and you will always be aware of the movement of the S&P 500 index.
Press Boost if you agree with the current market situation.
Thank you!
See you next time!
Bye!
Reposting my weekend update for those who didnt see itMy weekend update was banned as noted other place, Im re-posting now:
I have cycles top on Tuesday and choppy period into 22nd low
The way I see here is that the price is about to finish the wave 2 and 3rd wave will bring the price down into third week of Dec.
Dont see and Santa Rally this year, it should be a Santa Crappy.
Nov month should be lowest monthly close when Dec will be higher and Jan 2023 will be another lower monthly close.
Intra day low might not come till Apr or even May.
I have volatility rising from tomorrow all the way into EOM .
I do expect a good down move tomorrow, which will be bought.
Main support now is at 3910-15SPX and smaller degree support at 3950-58SPX
Resistance and target on the upside are on the chart with notes.
Maj resistance on closing daily level is at 4010.50 SPX and weekly at 4116-18.
Ideal target for the high this month is 4118SPX level, might very well top in mid 4000
The way the price is going is not bullish but a bear rally, those can extend and be super fast (we got second part already)
Main support is at 3750-55SPX now, below it top is in.
My game plan for tomorrow is buy low 39 handle for a move up into Tuesday high.
I have exited my MES short from Friday close at Sunday open and flipped to long from 83.50 and 84.50. Already took profits at 91.50 and 93.50 zone.
Im long some MNQ and my main position is swing short MNQ.
I will trim most of my long on Tuesday high.
S&P500: Preparing for the next BEARISH move targeting the 3500!Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the S&P500, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
Top Down Technical Analysis:
Since the beginning of the 2022, the S&P500 has been moving inside a huge corrective structure, forming inside several impulses and corrections.
In May 2022, the market put in place the most recent swing high, where it got a strong rejection just during the previous august!
A strong bearish phase started since then , after the market bounced on the resistance and hit the third touch on the HTF corrective structure.
Currently, the market looks is corrective its previous move, a formation of a bearish flag could be a potential clue for a further bearish movement, targeting the level 3500!
When, where and why would we step into the market?
Considering the overall bearish bias, we would be looking only for short position.
The market is correcting following our conditions, and a breakout of the actual LTF structure would be our entry for a short till 3500.
In the scenario of deeper correction, we would consider to wait for a better entry, and the setup will be temporarily invalidated.
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
S&P500 Analysis 13.11.2022Welcome to the BasicTrading channel.
My name is Philip and in todays analysis I quickly go over the situation which we currently have on the S&P500.
I will analyse the asset both from a weekly and daily timeframe to show you the best possible trading opportunities.
If you enjoyed this analysis, let me know in the comment section which asset I should analyse tomorrow.
I will personally reply to every single comment.
Dont forget to smash that rocket and I will see you tomorrow with a new analysis.
SPX500USD Will Move Higher! Long!
Hello,Friends!
In this market situation, I am looking at multiple indicators
And I can see bullish momentum accumulating on the pair right now
This setiment makes me bullish biased and I am considering a long!
Like and subscribe and comment my ideas if you enjoy them!
SPX checkout the Bollinger bandsInteresting how those Bollinger bands expanded and moved against each other.
Last time I saw this, it didnt held up for long.
I wont short this till tomorrow, I want VIX close below the lower Bollinger band and SPX above for a sell signal.
Its over 3933SPX now, should push to 3959-60SPX and if taken, we will see 4010-20SPX I mentioned last night
What is important to watch for the SPX?Today the CPI numbers got released and turned out good! The DXY and Yields are falling of a cliff and the SPX is making a strong bounce. But is it enough?
We need to see the downwards line to be broken and retested. If we break it and are able to stay above it we are really clear to see more upwards momentum.
Short and simple but this is the play. Trade safe!
SPX bounced off resistance, all eyes on 3907SPXSPX must close above 3907 today to confirm the breakout!
Bounced off resistance on this move, super extended and overbought now.
Resistance is at 3933SPX, broken trend channel test from the bottom
I have trimmed my longs (from yesterday's 3755-60ES entry) before the CPI, oh well, cant win them all.
SPX is still in its opening channel
Tomorrow is a directional change day, will confirm the breakout if the price stays up above 3907 and can get above 3933SPX
Volatility is rising into Nov 23rd, I still expect lower into that day, only after a good rally up into EOM
For now day trading for me with a core short position
SPX can possibly limit down tomorrowWant to make a special disclaimer here:
Do not bet your house on this if you're trading futures (ETF option market is closed) as I might be completely wrong!
I want to present you a possibility of another mini crash tomorrow (Oct 13th like) maybe even limit down!
If CPI comes hot tomorrow am that could produce another huge sell off like we saw on Oct 13th.
CPI poll, make your bets here, share with others:
strawpoll.com
There are several big issues out there which can contribute to a potential move down:
- Treasury reduction,
- Crypto crash (leading imo),
- Hot CPI,
- 10 year action,
- Midterms uncertainty (10000% rigged again)
- Liquidity is a bigger problem then ever this year (there wont be a bid till it's limit down imo)
- Lunar eclipse
- Also SAR produced 3 days dots above the price, means the trend is lower and we have a perfect 1-2 setup to the downside
Now lets talk about the price and levels:
All we need is an open below 3689-3700 and continue sell from the open
Supports are at:
- 3689 SPX
- 3610-45 SPX (support box) where 3610SPX is the maj support, loosing it we get down to:
- 3543-52 SPX
- 3509 is where the limit down target is
- Below 3500 it will not stop till 3415SPX!!!
So if this happens you are ready and prepared to trade it.
Opening below 3689-3700 will act as a maj resistance for tomorrow and all stops must be there.
I will add to my short either before the CPI or right after.
Trail short from the open and seat back and relax, as if it goes, there wont be any good bounce due to lack of liquidity.
Ideally we see a ramp up into the numbers, but with the election results it could be muted and we wont get a desired rally.
Ideal resistance for tonight is at 3780-85ES, I will be closing my longs from 3756 there and flip short with a wide stop.
So again, this is a potential I see for tomorrow, if Im wrong and CPI comes lower then expected we could see a decent rally up to 3900 if not 4k (not in one day of course)
SPX500USD Will Move Lower! Sell!
Hello,Friends!
Indecision in the market is changing
Towards a well defined bearish sentiment
And the price action on the lower timeframes
Is clearly supporting this narratve
Therefore, I think it is a goodidea to go short!
Like and subscribe and comment my ideas if you enjoy them!