We got a large reversal today which makes me think that top is in for this cycle. As you can see from the chart, price went over resistance and closed back below it which is extremely bearish. From here, I think we'll see a move down to the first support at $4800, then I think it's likely that we bounce higher to make people think we're going to see another move...
Are we in a trap region? The month is ending, but the problems are just beginning! Based on the latest analysis, we may indeed be in a trap region. And its long-term objective was achieved in full (1,618 FIB). And gold has not yet lost its 2K level. What a thing, right? If everything is fine, why isn't our "rich" fiat's store of value giving way? I just...
Considering the projection outlined for the future SPX in a previous analysis, I realize that the target pointed out by SETUP on the long-term chart has been reached. Therefore, I think we have nowhere else to go up without at least having a small correction towards the 4685 region if I only consider the graphical analysis. See the image below. Despite...
The S&P500 / SPX / US500 is extending the rise inside the long term Channel Up, supported by the 1day MA50. As long as the 1day MA50 supports, we will stay bullish with the 4330 August 16th 2022 posing as the next Resistance. Every rally inside the Channel Up however has been at least +9.50% so we expect a peak on the Channel Up top at 4400 if the August 2022...
The S&P500 index is approaching the top of the Megaphone pattern inside the wider Channel Up. The 1D time frame is bullish technically (RSI = 59.471, MACD = 22.900, ADX = 16.182) but only moderately. If the price crosses over the Megaphone, we will buy the breakout and target the top of the Channel Up (TP = 4,295). If not, we will buy the pull back near the 1D...
S&P 500 futures are currently experiencing a pause due to Fibonacci extension targets, with a possible further upside move towards the 4100 level. A short-term cool down period and pullback is expected before potentially heading higher into mid-week next week. Keep an eye on the VIX for potential moves. I noticed an interesting battle around Fibonacci levels at...
So after a week of SLOW drifting market sentiment we looked to reference points for resistance and light shorts. This is in anticipation of market sentiment change which comes (inevitably) after slow markets. Whether the market shifts UP or DOWN radically you need to be ready for it. So lets work on it! Have a great weekend!
Hey Guys, I covered this earlier but you must be aware of how markets fall and rise and why and how you must act to be a profitable trader. 1. Do not Race in. If you flick back in time to any fall In Similar markets (or the SPX only) you can see how it trickles down over time. This is because former levels must be broken. 2. Gauge market value. Do not buy...
Looking the SPX chart I used the 200 SMA (1W), 400 SMA (1W) and the volume profile to see where support zones are. The 200 SMA has proven a valuable indicator in recent years as a 'bottom metric' There seems to be confluence to some nice volume at this area as, obviously, a lot of people know this. The 400 SMA also very interesting as it supported the price...
ES/SPX is seemingly extremely bullish, having rejected resistance around 4140 and having a subsequent bullish rally off the lows since then. However, RSI divergence continues to limit upside. Broad market indicators, such as market breadth, are lagging. Volatility looks poised for upside. Bonds are looming for a breakout as well. Watch for the overthrow top
If we are forming a large counter trend move that's going sideways in an EW abc correction. I think we've got a good shot at filling the gap if the last low in mid June holds. I think we will see the start of a crash move starting within one or two weeks. If the gap fills and we get a lower high than the peak made in early June. So the sideways move could continue...
$ES bounce into 287x$ resistance looks super weak. Still waiting for 2650$ test - this one's crucial for the directional bias.
For better probabilities wait that the ascending wedge is broken
Seems like levels are close to the halfway mark in the Fib retracement. We're looking at a 27% rally from the low. Not sure why the rally has lasted this long and been so strong, it could be from a short squeeze...who knows. It has to end soon I would imagine. We are heading into earnings with bad news ahead of us plus more bad economic news, so I anticipate the...
On the S&P FUTURES is forming a particular candlestick "pattern", a checkmate . A (bullish) checkmate consists in a series of long black (red) candles followed by white (green) candles (or small real bodies) near the same support level, and reveals that the bears’ drive is being “checkmated”. If the current candle will be green, then most likely we are going to...
We are at the 200 week MA and median line of pitchfork. I took profits - wait for bounce around 2631 area if it comes at all Don't jump in early - it may go much lower! Good Luck!