Next Support Level - Confirmed - Day 2 In our trading plans published on Monday, 12/19, we stated: "...the index is now testing the next key support level around the 3825-3835 range. Our models are indicating a range-bound trading while the index is trading within the broader 3810-3830 range on a daily close basis. If you are short, you might want to take profits...
The SPX is chilling in its falling channel, which at this point is still bearish. However, the last low was formed on a bullish divergence on the weekly rsi. As we can see on this chart, using Fetch Trends, an indicator made by me, we can also see that by the change of colors that the downtrend is becoming weak! This is good news, because if the trend...
Well who would of know about gap and crap? My yesterday post had it all covered. The magnitude of a gap up I had no idea about and it came quite strong, but still made a lower higher into that Yellow resistance line That Yellow line comes from Feb 2020 high, so its a very important resistance. I have taken several trades on the open, sold calls and bought puts,...
$VIX pivoting up from <21 low has been a strong sell signal for $SPY 2022 so far. we are now pivoting from the said level for the 7th time (2022) since 5th December. each down cycle last an average of 27.2 days before an upcycle takes place.
Fed Pivot Hope Turning Into a Bull Trap Nightmare? Day 2 In our trading plans published post-NFP on Fri., 12/02, we wrote: "After 20 days of meandering around 3950/4000 level, the index rocketed out of the range to a session high of 4093.50 on the FOMC day, 11/30/22. This morning's Non Farm Payrolls data could be suggesting that it could potentially be an...
Rising Wedge, nearing 0.786 fib, major resistance nearby, low momentum above the 200 DMA and upcoming economic reports are all reasons i've been building up a short here on the S&P. Swing trading with a final target at 3400 over a several month timeframe, and a SL at 4160.
As we continue to monitor the broader index market we see many discrepancies between the S&P, Nasdaq, and Dow Jones. All 3 are not displaying the same level of strength, but what they do all have in common is signs of weakness with this last rally. Although I'm open to the idea that the markets have bottomed, I still think its more that we still have 1 more leg...
🔴 SPX500 TF: 4H Side: Short SL: $4009.75 TP 1: $3937.75 TP 2: $3893.00 TP 3: $3857.00 SPX500 will have a small correction here.
After a drop of 28% from the peak, SPX has bounced up after touching the 200 weekly moving average. It does not indicate a trend change but rather seems like a bull trap in the overall bear market. FED is meeting between 1-2 November and volatility is expected. If you are entering longs, protect your profits with tight stop loss. Things can turn down again...
Many people got trapped yesterday by the bears. For us, it was a good shorting opportunity. ALWAYS REMEMBER..... DON'T FIGHT THE FED !!!
SPX on October will go down per 7-17%. Then in November i expect bearmarket rally. And then next big fall.
pretty clear rejection at FOMC. local low test next. prolly get some type of bounce there. macro, however, this looks awful. gaining confidence in revisit of 3k.. which would nearly round trip this entire covid move.. talk about brutal original chart linked.
I missed am short, now waiting for 3802-17 to go long. Wont rule out a move down to 3750 tomorrow before FOMC The way I see it is that we will bottom today tomorrow and rally back to 3880+ after the FOMC decision, then completely erase the move by Fri. Should bottom on the 17th and rally up into EOM early Oct, then continue lower Dont try to trade this, very...
Main 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...
Hi everyone! Im still battling with timing on the high and potential crash this/next month. We either bottom this month, we have interest rate decision on the 21st and then up into Oct 3rd week where the turn suppose to happen and last into EOM or even Nov. My timing showing a low in Oct/Nov. There is a chance for us to see 4425! but the lows we just had must...
Structure: Solid power move to the Resistance zone aligned with the 200 MA Strategy: Short - A bounce back expected from this level Risk/Reward: 1:1 Disclaimer: DYOR!
#SPX500 1h chart of Top Divergence formed for last 3 trading days. winter is coming STOP LOST ( for you ): 4300 SHORT: XAUUSD, AUDUSD, ETHUSDT LONG: GBPNZD
Very important to get above 3992-97 tomorrow to continue this move up! If we reject it in am, very dangerous sign. Ideally we go up into that target, then retrace and go above 4k level. The price penetrated my support cluster zone (3910-50) and (very important) closed above all 4 supports we broke today, its bullish. The issue is, we need a confirmation and...