The S&P 500 is in long-term Bull Market with price trading above the 50 and 200 and 800 week emas. The 50 week ema is currently up trending, but price is coming up against a long-term trend, so expect a correction with in the ongoing Bull Market back to the 30 or 50 emas, or the lower uptrend line. Price is also correcting from extending beyond the upper Bollinger Band, which means we should expect a return to the mean at the least.
The Market is in a Long-Term Bull Market on the daily, with the 50 ema above the 200 ema and 800 ema. Price has bounced off a long-term trend line and the short-term up trend line, but has yet to close below the 13 ema. We’re getting a lot of long candle wicks on down-side, which screams stop hunt.
The Market is in a Bull Market on the 4 hour, with price above the 50 ema. There is a Piercing Pattern/Railroad Track along with a close below the 13 ema. Last week we had a slowly rising consolidation, which I expect to resolve with the Market Maker stop hunting higher and lower with a bounce off the 30 ema. Probably head higher back against the upper trend line before a real correction lower, which this market needs to refresh the uptrend. Next week is a Holiday week, which screams out consolidation and low volume. Good time for stop hunts.
This is an annoying market to trade with the endless Presidential Tweets, government official jaw boning, and Chinese Market Manipulation in order to gain trade advantages. Corrections are a normal and necessary function of markets to wring out excess and bad business plans. Without them, markets will fail prematurely, and experience worse down-turns. Not to mention the FED trying to jam prices up with endless Quantitative Easing. These guys are setting up this market to really get hammered and likely Crash at some point. Lighten up DJT on the Twitter account… It’s un-Presidential. Most Inflated Bubble Ever! It’s Yuuuge! Sheesh.
This is my SPX 500 look ahead for my own trading purposes. FUTURES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
The Market is in a Long-Term Bull Market on the daily, with the 50 ema above the 200 ema and 800 ema. Price has bounced off a long-term trend line and the short-term up trend line, but has yet to close below the 13 ema. We’re getting a lot of long candle wicks on down-side, which screams stop hunt.
The Market is in a Bull Market on the 4 hour, with price above the 50 ema. There is a Piercing Pattern/Railroad Track along with a close below the 13 ema. Last week we had a slowly rising consolidation, which I expect to resolve with the Market Maker stop hunting higher and lower with a bounce off the 30 ema. Probably head higher back against the upper trend line before a real correction lower, which this market needs to refresh the uptrend. Next week is a Holiday week, which screams out consolidation and low volume. Good time for stop hunts.
This is an annoying market to trade with the endless Presidential Tweets, government official jaw boning, and Chinese Market Manipulation in order to gain trade advantages. Corrections are a normal and necessary function of markets to wring out excess and bad business plans. Without them, markets will fail prematurely, and experience worse down-turns. Not to mention the FED trying to jam prices up with endless Quantitative Easing. These guys are setting up this market to really get hammered and likely Crash at some point. Lighten up DJT on the Twitter account… It’s un-Presidential. Most Inflated Bubble Ever! It’s Yuuuge! Sheesh.
This is my SPX 500 look ahead for my own trading purposes. FUTURES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
Trade active:
Uhhh! Last week was party time in the S&P 500, especially in the Asian and London sessions! The Railroad tracks bottom in the 4-hour dominated, and the market traded up from there in the New York Session. The week ended with an Evening Star pattern, which from my experience is usually the Left Side of an M-Top. Look for the Right Sight of the M in the week up coming.
So, instead of a consolidation last week, we saw price getting jammed back up against that upper trend line. Price is up against the Bollinger Bands on the weekly and daily as well now too! Look for reversion to the median.
So, instead of a consolidation last week, we saw price getting jammed back up against that upper trend line. Price is up against the Bollinger Bands on the weekly and daily as well now too! Look for reversion to the median.
