S&P500 Is COVID just a bounce inside the Channel?** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
Well as you see the chart is pretty explanatory. I want your thoughts on a simple question. Was the sell-off driven by the COVID pandemic just a necessary technical bounce inside the multi-year Channel Up that started at the bottom of the 2008 crisis?
So far, even though the 2200 bottom marginally broke it, we have stronger evidence with the recent weekly rally that the trend is still bullish within the Channel Up.
The Megaphone that has emerged can be seen as similar to the one that preceded it in 2014 - 2016. Maybe now the index will continue upwards but on the lower part of the Channel Up. Notice how the RSI was descending during both Megaphones.
What do you think? Was that just a bounce? Looking forward to your opinion.
Spxsignals
S&P500 Trading planPattern: Channel Up on 1D.
Signal: Initially bearish towards the Higher Low trend line of the Channel Up as the Rising Wedge that was supporting broke downwards. (A) If the Higher Low trend line holds it is bullish on the short term. If the 2625 Support breaks, it is bearish. The region in between those is a neutral zone.
Target: (A) 2800 (roughly where it can meet with the 1D MA50), (B) 2450 (just above the next Support).
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
S&P 500 INDEX (SPX) WeeklyDates in the future with the greatest probability for a price high or price low.
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will miss its prediction date by one candlestick. If multiple Djinn prediction dates are missed and are plowed through by same color Henikin Ashi candles the asset is being "reset". The "reset" is complete when Henikin Ashi candles are back in sync with Djinn price high or low prediction dates.
One way the Djinn Indicator is used to enter and exit trades:
For best results trade in the direction of the trend.
The Linear Regression channel is used to determine trend direction. The Linear Regression is set at 2 -2 30.
When a green Henikin Ashi candle intersects with the linear regression upper deviation line (green line) and both indicators intersect with a Djinn prediction date a sell is triggered.
When a red Henikin Ashi candle intersects with the linear regression lower deviation line (red line) and both indicators intersect with a Djinn prediction date a buy is triggered.
This trading strategy works on daily, weekly and Monthly Djinn Predictive charts.
This is not trading advice. Trade at your own risk.
S&P 500 INDEX (SPX) MonthlyDates in the future with the greatest probability for a price high or price low.
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will miss its prediction date by one candlestick. If multiple Djinn prediction dates are missed and are plowed through by same color Henikin Ashi candles the asset is being "reset". The "reset" is complete when Henikin Ashi candles are back in sync with Djinn price high or low prediction dates.
One way the Djinn Indicator is used to enter and exit trades:
For best results trade in the direction of the trend.
The Linear Regression channel is used to determine trend direction. The Linear Regression is set at 2 -2 30.
When a green Henikin Ashi candle intersects with the linear regression upper deviation line (green line) and both indicators intersect with a Djinn prediction date a sell is triggered.
When a red Henikin Ashi candle intersects with the linear regression lower deviation line (red line) and both indicators intersect with a Djinn prediction date a buy is triggered.
This trading strategy works on daily, weekly and Monthly Djinn Predictive charts.
This is not trading advice. Trade at your own risk.
SPX Why the bears could have been wrongSince my last SPX idea, the market has made a few moves that leads me to think bears may have been too bearish on the market. let me explain..
I think the market was always one step ahead and we completed wave A on the ABC reversal and we are already in B wave (where I stated COVID PEAK and optimism will lead the market higher). The move yesterday and today should confirm the B wave of the ABC and that the market is still headed down to around 1500 for the SPX.
Or are we?
Bulls argue that we are in a wave 4 of 5 of a longer bull market and that not only has the bear market ended but that we will now set a new all time high soon due to the feds unlimited QE. How could this be with all the disruption to the market and world economy? Well its hard to fight the fed but its also hard to not see how COVID has damaged the world economy. But then the world leaders are printing vast amount of money to stimulate the economy.
On a Technical bases, I will make an argument for both cases:
For the Bear Case - We are in an ABC reversal in which we are now in the B wave up which is the optimism that we are now turning the corner on COVID. I expect the rally to continue to day based on the futures which should lead to the bull trap zone.
The first resistance is the R1 which is around 2730. If the market break this then we are in what could be a bull trap since that is the former support. once the market is in the bull trap zone, the next resistance will be 2800 which is the .5 re-tracement of the whole A wave. If the bears fail to stop the bulls then the final resistance is the .618 (R3). With that broken, we could very well be in Bull market.
In my opinion looking at the weekly MACD, it does not look as though we could easily turn the tide but this is where the feds unlimited QE comes in with the bull case
For the Bull Case - This market "crash" has been all just a big misunderstanding which is being rectified by the feds action and Unlimeted QE. The crash was to sudden to be a long term bear market and it instead was a quick correction/wave 4 of a larger bull market to all time highs.
The trap set by the bears right above 2730 and below 2900 will turn into bear trap (since bears will anticipate a strong resistance and will short) before it breaks the daily 200EMA. After all Covid cases are peaking and the economy will be open soon and even if it doesn't we have the fed with unlimited PE.
SPX S&P 500 - Loss of momentum on W and M - High resistanceHello, hope your safe and on your guard in those difficult moments. My analysis on the Weekly Chart just before the Heikin Ashi candle close. Right now it doesn't look good. The tails like to be eaten, but let's wait and see how the candle will end. At this moment the look that he want to reject it. The most concerning things for me is the break down of the EMA Ribbon.. this is usually a sign that the retracement will be much longer but market makers could play with that. They actually want you to put back your money inside the market.. to eventually eat more liquidity. They want to let you think that the market is ready to get back on track when the market is only retracing to a gap down exactly on the daily ema ribbon resistance. What I see is that the market can let believe believe a little more that this trend up is there to stay when in reality they will eat all the liquidity around Easter and pull back quickly on the fib 0.5%. Please note that I have not included a Gap Down as I consider that they will eventually be filled upwards by wave 5. Here are some important details for the S&P 500:
Renko Resistance: 2838.72
Renko Resistance: [/boquer2661.30
Gap Up: 2538.18 (bottom part of the gap up)
Gap Up: 2295.93 (bottom part of the gap up)
JMA: [/boquer2513.32 (currently support)
Fibonnaci [/boquer0.5 à 2034.20
Fibonnaci 0.618 to 1712.93
Momentum: MACD is down in change of direction on the weekly and downhill on the monthly ... so losing momentum in the long term ..
RSI: In BEAR territory on Montlhy and Weekly
Eliott Wave: As we are on a cycle III retracement wave and the wave 2 retracement was 0.618%, I believe that the 0.5% and 0.618 retracement are the more likely and the 0.382 retracement has been smashed and is not sharp.
S&P500 SPX LONG SET UP AFTER CORONAVIRUS HIT MARKETBUY LIMIT S&P500
ENTRY 1 3014
ENTRY 2 3006
SL 2980
TP.1 3054 & TP.2 3106
Tp.3 3154 & TP.4 3206
TP.5 3254 & TP.6 3306
Stock market’s 6-day drop flirts with fastest slide into correction territory since 2008
Another sharp fall for U.S. stocks on Thursday pushed major indexes into correction territory, marking a drop of more than 10% from all-time highs. Here’s where major indexes would need to close to formally mark a correction.
MarketWatch · 9 minutes ago
SPX Breaking record for broken recordsI thought I’d include a little oped and some political analysis seeing as how that is part of my expertise & biggest passions.
This publication was intended to be made at the start of the market open but I got wrapped up in this circus called life; C’est La Vie.
The SPX 500 index is shattering all analysts expectations as Trump did say we would ”Win BIGLY!...winning so often that we‘d get tired of winning!” , and in doing so while both hands tied behind his back is a PHENOMENAL (and truly ironic; in the sense that they want to impeach him.) ahead of the systemic breakdown of the deep state.
I truly detest that conspiratorial connotations attached to that entity, what else do you call a cabal of unelected officials (mostly Obama holdovers) in the highest levels and upper echelons or our government literally conspiring with the legacy media in cahoots with big tech and the propaganda engine that is:
Jeff squared (Zucker/Bezos) & lets not forget to give a shoutout to
Media Matters
Tom Steyer for letting their hatred of one New York businessman/real estate tycoon be substantially greater than their love or our constitutional democratic republic—
-as the slow moving coup commences to unseat a duly elected official , WallSt once again slaps Adam “Schifty” Schiff & Nancy “Powerless” Pelosi right across the race with the metaphorical equivalent of political chess mate with milestone after historic achievement after milestone after historic achievement..
•.Kim summit
• Energy sufficiency
• >2 Dozen NASDAQ ATHs
• ROARING economy in an otherwise unsettled and anxious; polarized social environment despite 401(K)s and wage growth
• Not to mention historic unemployment and
• Only President to fulfill every campaign promise in modern history..
• Defeated caliphate and Baghdadi
The list could go on... I’ll include a more in depth, meticulously written oped when I get on my PC (yes I’m on my mobile phone right now) including and especially pertaining to the modern history from the start of the postmodern era and why it is quintessential for traders to understand modern history (From post World War II era 1945 is a solid place to start) and how it is literally The combination of the series of events that took place Between 1939 to 1945 where America was ranked 17 out of 17 in terms of military my versus just six short years later leaving 2 empires and Europe in ashes as the Phoenix and Not only military but economic powerhouse has been us ever since, a fact l I think is often overlooked/undermined (our economic leadership and not just military)
Now with an unstoppable economic track record; SPX is clearly flourishing.
When all is said and done history will remember President Trump has all of the most consequential POTUS in history...believe me I was never a fan (at first) however I am a patriotic objective and pragmatic individual (unlike our elected officials) and when I see something that is good for the nation, regardless of the uncalibrated moral compass of the POTUS in question — he is still our commander-in-chief and it’s funny because i travel very frequently and often hear dnc hacksn in the legacy media say that the world is laughing at us because of his behavior; from my experience this is a falsehood....
Most of the people that I talk to would wish they had a president as fervently dedicated to putting nationalistic policy agendas in motion—- “ America First” and their nations respect his unapologetic, magnanimous persona.... but I digress.
I will update more later...
In the meantime I will proceed with more signals! I have been slacking as of late and for that I am double sorry.
Follow / like / share / subscribe if you want to hear more from me about Political science and consumer based sociology, modern history and current events.
@a1mTarabichi
I apologize for the almost 4 H late publication!!
You know what they say...
Better late than never but never late is better..