I believe us to be on a wave 5, but of a wave 3. The question is, what kind of pattern will we get. That yellow 1.618 circled? That is drawn from the very beginning (properly). That 1.618 extension is drawn as Y2K being the beginning of the wave 2 flat pattern which was completed in 2008 (when everyone thought the Great Depression was back, hehe). 3000 price level...
SandP 500 SPX500USD The head and shoulders formation mentioned in earlier posts has duly formed its right shoulder over the last 24 hours or so - it's higher than it should be for a perfect H&S but nevertheless it still looks quite powerful. It carries with it a minimum downside target at 7242 which is close to the fixed support line at 2740. It was a sell...
As I promised in my earlier post here is an update with the two possible scenarios. First of all I would like to focus your attention on the dashed parallel trendline resistance (yellow). Price was rejected right at that resistance shaping reversal Doji candle on the Weekly chart. If this upmove has been finished (breakdown below red support is needed to confirm...
I called for the temporary strength in wave (B) in my earlier post (see related idea). It looks like we are completing it and another drop down is just ahead. Signs of wave B soonest finish are: wave C in wave (B) already reached the 1.618 of wave A. Wave (B) has almost reached the 61.8% of wave (A). The second drop could be even faster as it will be wave (C)....
Earlier I posted a map with hourly chart with microview. This is to give a bird's eye view. Wave A of 4 could have been finished already. Now wave B to the upside before another drop down, which should break below the trendline support. 50-61.8% retracement area is the final target for this correction I guess.
S&P 500 Index SPX This chart shows an island reversal at the top, created by the first exhaustion gap atth etop of the chart, followed by a continuation or breakaway gap which led into yesterday's waterfall decline. we wer e looking for a decline to 2607 - the low was 2593, some 14 points out. Close but no cigar. As with the Dow this index has collapsed 10%...
DANIEL BRUNO, CHARTERED MARKET TECHNICIAN. LOOK ME UP ON LINKEDIN LONG RANGE VIEW FROM 2008 WOW, THE S AND Ps REDISCOVERED GRAVITY. MY FIRST LOOK IN A LONG TIME. NOTE THAT CRYPTOS ARE CRASHING TOO, AND THE USD AS WELL FIRST TARGET IS 2/1 ANGLE AROUND 2500 ZONE THEN 2100 ZONE WILL HAVE MORE TO SAY LATER, THIS WILL TAKE SOME TIME.
Based on trading range targets and and resistance at the top of the trend channel line, profit taking and short positions may be taken round these levels round 2480.0. if the S&P gets up here the likelyhood of testing 2500 is a real possibility. The S&P could then test the bottom of the shorter term channel and may even go further to test the bottom of the long...
DOW S&P 500 ALL World Markets (except Commodities) Super-long Term Analysis: Dow Stripped Bare - How Long Can This Keep Going On? Back To The Future or Forward to the Past: What the Past can tell us about the future... People talking about stretched valuations need to start stretching their own imaginations a little by looking back into the past for a guide to...
ALPHABET: GOOG This stock broke out above its restraining long term resistance line yesterday by gapping up through the problem area. With one bound Alphabet is now free. This is super positive price action, no question. It should also be positive for stock markets worldwide. What's good for Google is good for pretty much every bull - wherever they may trade
S and P 500 2 Trends 2 Trades Seasonal factors are beginning to show on S and P now. Over the last 20 years May to October periods have produced a correction of between 5% and 41% in every year without exception. The average loss per period was 14.9%. For the last 7 years if you'd bought the S and P on 16th October each year and held for 6.5 months until selling...
S and P should gap up and break out on Monday morning due to European euphoria because for once the favourite won. With one bound the S and P will be free and go on a run. If not already long, get long in Tokyo asap or even in London on IG index from about 5 to 6 pm Eastern tonight.
Price has gone up to the WL1. Look for possible pullback to 2330 area before going higher. The angle of this move is very high, so look for the trendline to sustain this energy.
The gap up today brought price higher and for much of the day price was in strong territory. But like the NDX, when the big boys came out to play late and the day, price lost momentum. This pattern has not been favorable for the most part.
SandP is starting to drift lower, watch for levels to break around 210 then look for 2140 to hit the pink median line if new lows are made.
SPX500 TARGET 2100 XAUUSD 1520 TARGET
Price found support as predicted on previous charts, look now for possible pullback to sliding parallel around 2130 before continuation