So i thought i'd take a look at a bit longer term monthly chart on the SPX. As you can see here, for the past 10 years or so, after having broken above the '07 top resistence level at around 1550 SPX has had a 2-3 year stretch of three runs, followed by respite and or corrections. And at each of these times, you can also see that the 50MA served very well as a...
SPX is currently below the 50MA on the weekly. SPX has broken back through 4320 after having rallied to get above it SPX seems to be in a downward channel RSI and VI are still weak and bearish On a potential bright side, It may hold and bounce off the current fib support, but if it breaks below, next stop is the 3700's level. It may also get some support from a...
The Small Caps had a hugh surge of a run during the October '20- January '21 time period. Just the same, now it's got little to no support on the way back down. I don't see any meaningful support until the 1700's area.
$XLF has broken through and retracing near term support in the past few sessions. I don't see any meaningful support until $31. I see similar damage and downside risk with $RUT and $SPX. Charts to come.
So last session we saw the SPX break the neckline of the multi week H&S formation. While this break is not confirmed, the index is under pressure to the downside at the moment. We see here in the 2 hour chart that, in order for SPX to move higher in the near term, certain momentum changes needs to be realized; both the VI and RSI need to move in a positive...
Expeting some sort of bounce back at this level, meeting support. May stay around here a while, while figuring out what to do next.
A break below the 4250 level would be very bad! SPX broke below the long term support line on Sept 16 and after retracing and getting rejected by the same trendline on Sept 24, now forming a H&S pattern.
Weekly chart - VI below the moving average and crossing over, with RSI on a steady downward move. Not looking good. That said, any news or bargain hunters/buy on the dip may keep this at this support level for a while longer.
The RSI says it all. It's putting up bit of a fight to keep 30K but if it breaks below, look out 20k. Good luck everyone.
So as i have posted previously, GME touched on the 48 resistance level before retreating back. I think this is an important level to watch, along with the lower support level of 38. I would like to see the RSI to continue to gain, getting closer to and above 60 before seriously looking at this closely. If it falls lower and loses momentum, then we have to assume...
We've been seeing perhaps a bottoming out process in the past few sessions at the low 40's level. If it manages to make a move higher, it will run in to the 48 resistance level. It's key to see if GME is able to break above this and move to 60, or get rejected and either consolidate some more or head lower. Watch the RSI levels. I think getting in at 48 ish after...
I want to point out the moves in this stock in the past few weeks, in the areas highlighted. If you are someone who believes in the "diamond hands", reddit stuff, and technicals are out the window, move on - this will be a waste of time. Regardless of what may be brewing in the behind, technicals, not always, but often, tells us where the stock MAY be headed....
Looking again at the 30 minute chart of $GME, after a lackluster session... while the RSI appears to be slowly bottoming out, i would like to see it get much higher and gain momentum in the next few sessions, near or above 70. I would like to see the VI lines cross and stay above the moving average. My best speculation at this point is that 65-75 may serve as a...
Let's take a look at the 30 minute chart of GME, since this is a volatile and fast moving stock of late. While many of the redditors are putting in more money, only to see the price go down in large percentages, they need to be looking at the charts and past patterns, with volume and RSI, instead of being in a tunnel of the WSB sub and only following the cries...
It's hard to try to technically analyze a stock like this in a very short period of time. But try to block out the reddit noise for a bit and you'll see that, while the ramp up was definitely foreseen, it would just be wishful thinking to see this go back up unless the VI can get above its own moving average. Have patience and see if that will happen in the near...
Quick analysis: While the longer term weekly chart shows BTC to be downtrending, it's worth looking at some important possible levels on the two hour chart, which indicates a slight near term upward move. Being in this pennant/channel, if BTC is able to hold what appears to be around 33,000 and break above the upper resistance, then it can shoot up higher to...
SPX has been predictably rejected with a recent double top to reach new highs - we can see here by the RSI that it really didn't have much of a chance. And while we had a big down day, technicals don't necessarily indicate a further downturn, but most likely it will move sideways until the Nov 3 US elections. The VI moving avg is still pointing with a positive...