S&P formed a head and shoulders while bulls are overextended. So stocks had some downward momentum and then I mentioned if any bad news say the fed was Hawkish... which he was...stocks would drop.... which they have... I think this can go much lower now... If it drops below 392 I think the bull case is over. Note: I had posted this yesterday before the drop today...
I expect VIX to go up from here.. could it have a big jump if stock market has big down move which my other ideas show I believe could be immanent.
Oil is going to be driven by the weekly higher soon if not now. The lower timeframes want oil to go down but the weekly maybe the driver. I think stocks are going down but oil will go up.
4hr chart shows gold is at top of buy cycle on 4hr chart and ready to head down. I also believe stocks are ready to head down so gold will follow stocks.
My oversold at bottom on 4hr chart says dollar ready to head higher. The weekly also says it’s ready for a big DXY bull run.
A little outbreak has been sold and the sale is retracing now. As we have fallen back into the downward channel and the ADX shows no momentum I suppose that the attempt to rise will come to a halt. This idea finds support as we could not rise above the resistance line that has been tested since 2020.
AMEX:SPY Looks like $CRM and a couple other earnings releases has a lot of traders spraying their shorts today. Congrats bulls! I'm increasing my long position on September Puts
Will be interesting to see how these two will attract towards same price over time. Current target price is CPI $1.14 for both $ampl and $spot
I'm struggling to understand any of the long ideas out there for $SPY. Not saying I'm right, but there doesn't seem to be much upside left here. Market breadth is very overbought and there's a lot of resistance up top. I expect the debt ceiling shit show to give us a shorting catalyst. AMEX:SPY
SPY dropped to a mid Fib level from the recent pivot high and bounced. Price is now rising in a channel predictive for a 1% rise tomorrow. The ADX indicator shows the negative direction reversed and now positive and rising out of the chop zone confirms the reversal as a solid one not a fake out as does the MACD with a crossover under the histogram I will...
More than 50% of the stocks in the SPX are now back above their own 200 day moving averages, and trending up, after reaching a low of nearly 90% below their 200 day MA. The intensity of new 52 week lows also seems to be decreasing. Is this an early sign the SPX itself will move back above it's 200 day MA?
It’s common to hear strategists predicting the S&P 500 will retest its October lows. Today’s charts consider the big index to ask whether its technicals support such a deep pullback. First, the daily chart may have a basing pattern around 3,800. Also notice some potentially relevant candlesticks, starting with a hammer on December 22. The New Year began with an...
📈 The chart continues with higher funds, but the volume does not follow this movement as demonstrated by the OBV. Which signals a bearish divergence. 🐻❄️👎 🤔 I believe there could be a spike just to liquidate the positions, leading to a big trap: 🛑 Furthermore, the OBV has just broken the white dotted line, entering the red zone, overcoming the fall of the...
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Gold is gonna open by sell till, it touches the trendline and bounce back to the top
This idea is based on the analysis of the 200 day moving average breadth data for the SPX. Every time since 2007, when market breadth broke out of a downwards moving channel this was an excellent buying signal for the SPX. This signal can be seen as a confirmation for the end of the downwards correction and/or bear market. We recently had such a signal on Oct 24th!.
As we are making lower lows in the Nasdaq Composite, the % of stocks participating in the rallies increases. This is exactly the opposite to what we were seeing in the November highs when we said that the market is topping. This is great bullish sign.
An under-the-radar trend in recent weeks has been strength in legacy retailers like Macy’s , Gap and Ross Stores. Today’s chart focuses on a potentially bullish pattern in peer Ralph Lauren. Notice the series of higher lows since November 10, when earnings and revenue beat estimates. There’s also a resistance zone around $104.50. The result is an ascending...