The 1D Channel Up (orange dotted parallel lines on RSI = 60.002, MACD = 15.140, Highs/Lows = 0.88036, B/BP = 28.2960) successfully tested its 1st potential rebound point at 2,791.75 as you can see on the first curve (blue). There is always a possibility to extend as low as 2,775 (2nd potential rebound point - second curve) and make a full Higher Low, but...
The 1D Channel Up is slowly (RSI = 60.850) but surely (MACD = 19.060, Highs/Lows = 19.3929, B/BP = 44.3660) rising towards the ATH (all time highs) at 2,878. In the meantime it may print a small pull back on the double curve pattern, but will only be a Higher Low and will be bought. As seen on the chart this curve pattern is recurring. Long, TP = 2,854.75.
S&P has entered a consolidation on 4H with a Rectangle (yellow box) dominating the trade since the 2,700 support was tested (neutral RSI, STOCH, Williams, CCI, Highs/Lows). 1D remains bearish (MACD = -3.140, B/BP = -27.8660) but since it is now on neutral RSI, Highs/Lows, the downside is limited to 2,683.75. We update the TP to 2,685. This means that the Channel...
The index is on an important break out point on the 1D Channel Up as if 2,710 breaks then the pattern will go for a complete Higher Low swing at 2,675. With 1H oversold (RSI, STOCHRSI, Williams, CCI), 5H on near exhaustion levels (RSI = 25.774) and 1D on very bearish Highs/Lows = -48.5357, B/BP = -44.0520, we expect a price near 2,680 before any meaningful...
The next leg down (when measured from peak to baseline) has us stopping right before we hit "bear market" territory. From the current high (open/close) a close beneath 2298.296 puts us below the 20% threshold, and while we may dip to this area, I'm not so certain we will close a session beneath this spot (not yet, anyways). I see two possible scenarios, the 1st is...
DANIEL BRUNO, CHARTERED MARKET TECHNICIAN WEEKLY TREND STILL UP AS LONG AS RISING SLOPE HOLDS DAILY TREND IS DOWN, 1X1 ANGLE IS RESISTANCE BEARISH HEAD AND SHOULDERS AT ABCDE CORECTIVE WAVE, MAYBE FORMING WAVE 2 UP HIGHER USD INTEREST RATES IN THE CARDS? CONTACT ME
Good Evning traders. Great friday we had with nice rally on SPX. but boy oh boy, the bears won at the last candel. and they got great DIV. so i am expecting some retrace, 50% would be fair. reverse UP here will mean BULLISH trend continues.
Looks like what I was expecting is coming true ....
Looks like S&P is getting ready for a change of direction
Bearish descending wedge forming in the S&P 500 index.
If you look at the VIX, the SKEW and the yearly high & lows of the S&P 500, you get a pretty good idea of the strength of the trend or the drawdowns. The lowest indicator is a sum up of all four values and gets RED as soon as 3 of those indicators are in a downtrend.
Another sign the market has peaked. Buckle Up!
Long on S&P based on pennant formation, repeatedly tested support at 233 (.236 fib), and high volume displayed at fake below support suggesting demand below 233. Intention is Long entry at retests of 233.5, with SL at 231.5 and TP at 240. Uncertainty surrounding Trump rally could well lead to a breakdown of support, particularly in response to news and/or...
This might be a great time to short the SPX. Despite being on a crazy bull trend, this point looks great for some shorts. Low volume - Volume divergence. RSI overbought - RSI divergence. R3 Fib pivot broken by a lot (overbought signal). 2300 Psychological resistance Resistance that goes back to April 2016. Reward to Risk Ratio : 2.8 to 1.
2016/11/17. S&P 500 stock index forecast for next months and years. S&P forecast for November 2016. The forecast for beginning of November 2168. Maximum value 2266, while minimum 2010. Averaged index value for month 2146. S&P 500 at the end 2138, change for November -1.38%. S&P 500 forecast for December 2016. The forecast for beginning of December 2138. Maximum...
Well looks like HSBC is hovering 2009 financial crisis. Time has come to short them again to go to zero or so. Red line will act as resistance line. Time to re-enter.
Potential H&S; Breaking of the green trendline indicates the pattern wont form; Breaking of the red one would be entry for the set up indicated on chart (short position). Atention to the simetry between the next major support and the percentage from the head to neck line of H&S.