SPX - ABC Wave Count - 23/04/22Guidelines state the equal extension of 1 is the most common wave C; however, given the current economic environment, a 1.618 extension of wave A may be plausible target.
Given the swift breakdown seen yesterday, it is also plausible that we have commenced wave 3 of the greater wave C down, therefore opening up the possibility of the scenario shown.
1.618 extension would mark a -27.80% correction .
Not financial advice and always DYOR .
US SPX 500
es (bear)this is a follow up to my last post, read that one first.
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Considering what i mentioned in my last post,
if the bounce from 3880~3860 is weak, and price begins to flag into the days ahead,
this will not be good news for the bulls,
but it'll be great news for whoever is ready to catch this short.
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realistically, if this case is confirmed we can see es below 3000 before this year is over.
wait for confirmation, don't jump the gun. nobody knows what comes next, we can only theorize.
es (bull)good morning my peoples,
es is yet again at another crossroad here.
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>>IF the area between 3880~3860 is supported by the bulls, and they come in strong, es might be able to get out of this funk and continue the upward trajectory into the months ahead.
>>IF the bounce is weak, it flags out, or there's no bounce at all, then the bull days are behind us and what comes next will be displayed in my next post.
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3880~3860 = 🔑
SPX - WXY Wave Count - 31/08/22Here we see a very similar breakdown to the previous idea I posted. It is plausible, following the breakdown in the past week, that we are entering the next downside phase.
This is a schematic of a WXY (commonly known as a double zig-zag) with a target of 1 fib extension of wave W @ 3141.0, a usual target for this type of wave.
Potential target options are also the 0.618 and 1.618 extension levels.
SPX500USD: Bears Will Push
Hey traders,
Here is our forecast on SPX500USD.
The level where the price is trading right now is decent and the price will most likely bounce from that.
SPX500USD is coiling on supply cluster.
Based on our stand point the price will dump.
❤️ Please, support our work with like & comment! ❤️
SPX MUST HOLD 3890-3900 tomorrow!Futs are down and it seems the flush continues!
Must hold the 3910-43 cluster tomorrow or it opens the door for low 3800!
Absolute must hold is at 3890-3900 tomorrow am, right at the support trendline!
If it holds and reverses tomorrow, we should go up into the 5th high, ideally we see 4080-4135 at min
Have a good night
SP500 a short term outlook 🦐SPX500USD on the 4h chart has tested an important confluence zone.
The market got rejected and is now giving the opportunity of a bearish price action.
How can i approach this scenario?
I will wait for the US market open and if the market will break below i will set a nice short order according to the Plancton's strategy rules.
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Follow the Shrimp 🦐
Keep in mind.
• 🟣 Purple structure -> Monthly structure.
• 🔴 Red structure -> Weekly structure.
• 🔵 Blue structure -> Daily structure.
• 🟡 Yellow structure -> 4h structure.
• ⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
SPX has more room to go when NQ hit all the targetsSPX can stretch all the way down to 3900-10 if it wants to.
Maj support cluster is at 3910-50SPX
Today is the reversal cycle day, so I take what I have.
Main resistance now is 4025, above it, we can fly.
Mid of the channel hit, not shown on the chart
Monthly resistance close is 4156SPX, so must watch on closing level, its tomorrow...
Im long
S&P500 - watch for short term downsideGood afternoon everyone,
Watch for short term sell setup (bearish flag) that could prove completed if the price breaks the small corrective structure (black trend line).
The target is a rather strong support level @3970, which could yield @2% profit.
Nonetheless, trade with care as this is a short term setup and, despite the negative news flow for risk assets recently, a sharp reaction to the key support level below is likely probable.
Wish you all the best trades,
PTFX
Disclaimer: This post does not provide any kind of financial advice. It is for educational purposes only and solely supported by my understanding of the technical figure based on wave theory.
SPX very muted reaction to Fri sell offI was expecting a better rally off today's lows.
Main support cluster is 3910-50SPX
Main resistance is at 4125 and 4160-65SPX
One more support is in 3992-96 zone
Was looking for a low on the 29th, we got that, tomorrow will be a tell if we get a reversal Tuesday.
Im planning on buying the longs tomorrow if we make new lows and hold into the 2-5th high.
NQ already hit 2 targets and one more to go (doesnt have to go lower, so careful with shorting).
We are in bottoming timing zone, must note that!
S&P 500 index analytics: Terrible decision for the US economy. Analysis of the spx 500 index from 08/29/22 Today we are here to talk about the SPX 500 index
What's on the market now:
Today the index is trading at 4057. Yesterday we saw a sharp drop in the index, which, as I understand it, was planned in advance by Jerome Powell. In his speech, he said that he would fight inflation by shrinking the real economy. That is what he had in mind and therefore his statement caused a sharp sale.
Thus, at present, the market has moved into the red zone. And the market has ceased to be positive. We need to prepare for a deep correction of the index.
What I'm looking forward to today:
I expect the market to continue falling. And we will see a movement to the level of 3980.
Here are my trading recommendations for today 08/29/22
What I recommend:
If you want to go short:
You can open short on the pullback, but limit your risks.
If you want to buy:
Buying in the market is prohibited, but limit your losses.
If you are not in the market:
Buying is prohibited on the market at the moment due to the possibility of a sharp fall to the 4000 level, but limit your losses. You can try to go short the market, but it's better to do it on a pullback, limit your losses.
Like and subscribe, thanks!
Also remember to contact me in 2 or 3 days for further trading advice.
Don't forget to like it, it really motivates me to share my market knowledge. Subscribe to me and you will always be aware of the movement of the SPX 500 index.
See you next time!
Goodbye!
Daily analysis & day trading setups - SPX500 SPX S&P500 20220829Happy New Week, Happy Monday,
4023 is the line in the sand. SPX is stuck between 100DMA @ 4056 & 50DMA @ 4000
Break of either will clear the direction
Macro ECB Lane Speech, US Fed's Brainard Speech
Buy
Break: 4 041, 056, 065, 095
Reversal: 4 000, 3 982, 955, 935
Sell
Break: 4 000, 3 985, 956, 936
Reversal: 4 042, 055, 076, 095, 110, 125
I regularly publish my daily analysis & trading plan for day trading setups. The links are here:
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