Looks like the D1 trend line is going to be respected. If we see a break below 2080 look for pullbacks to sell.
Possible H&S pattern in play. Go short on break of formation's neck line (around 2036) targeting 1990 or lower.
Elliot wave count on NFLX, 5th wave extended, correction on going. Short until the end of wave C (80.15 or less) to trade the new cycle. Cheers!
we starting to see big bying pressure across the bord on all major stock indexes , so sp500 should be able to breack it's range and go above , all that thanks to fomc :)
While there has been some bullish sentiment regarding the 50ma crossing up above the 100ma on the daily chart this past week, on the weekly chart we see the 50 crossing setting up to cross downward over the 100. The last time this happened was 6/23/08. The saving grace of this chart is that it seems the price has moved up above the bearish channel it was...
at these stage spx is on a no go zone , on up side price action is sitting on big resistance around 2095 and a fib level a couple point above that and below it face as support and it quit a BIG one that have been defended for quit some time now but it will be very interesseting to see wich side it's going to actually go , on either side they are big target long...
Monday's trading plan: 1. First short @ 2086 to 2088 ES, stop loss 2090ES or SPcash 15min candle closed above Resistance Area. TP1 2066 cash. TP2 2036 cash. 2. If first short stopped out, look for a long scalp to 2098.8 to 2113.8 cash, stop loss 2085 or under Resistance Area. 3. If 2110 touched again and not able to break, short @ 2110ES, stop loss new...
1. 15min timeframe forecast. Scenario 1: www.tradingview.com We are on waves starting from 2092, now on wave a end (or wave 4 end according to different count), based on the first count as shown in the chart, expect up during the night to retest high of 2105.25 ES(probably only reach 2103ES, the .214 level of wave a), then retrace to 2092.5 (.786 level of wave 1...
New observation: Daily candles penetrated Bollinger band, if lack momentum, a retrace is probably. I refrain to predict the exact top, my plan is to trade with tight stops on every possible support/resistance and lower timeframe fib levels. Potential targets above are 2106.6, 2116.1, and >2130. 2101.1 and 2095.1 need a revisit tomorrow according to MEJT...
Looking the weekly chart, we see that the longer term move is downwards. Also placing a band over the tops and the lows, we can see that the monthly pivots of April and March are still not hit. counting candles between the earlier points, it can take about 8 weeks before it hits the lower line. Lets cross fingers and simply wait for the ride.
Head and shoulders pattern with potential target around 1600.
It seems we're at the inflection point once again. Maybe a day or two out from SMAs and MACDs turning positive for UVXY, and these big spikes in block trades are usually a precursor it seems to market sell offs - big players taking profits likely. I have multiple other charts that support this view with OnbalanceVol/Accum/distribution; potential slide in oil,...
Short with tight stop at 2051. 1st target for taking profit at around 1940.
This is for my frd in Canada. He want me to do forecast on S&P. So yeah , hope this assumption will help him.
Looking closely this in the coming next weeks.