SP500 after the doubletop over the monthly trendline at the 4800 melt to the support. The market reacted at the support area and tested twice the resistance area at the 4590 level creating another reversal. Furthermore, the market reacted to our beloved 0.618 Fibonacci level of the previous impulse. How can we approach this scenario? We will monitor the market...
Futures pre-market analysis not look great for AMEX:SPY in my eyes. Big rejection when trying turn to green bar on today (1,60% wick).
ES weekly. Degen is a slang for degenerate gamblers. Many degens were born from the 2020-2021 bull run. In a bull market, everyone is a genius. In a bear or volatile market, only those who practice risk management survive. The new traders will find out very soon as to why very few people make it in trading long-term. As stated in the VIX post, the market cares...
S&P 500 futures have respected the downtrend since Jan 4, 2022. They're headed to a support zone of 4,318 to 4,291 that was last tested in July 2021, October 2021 and January of 2022. Once they reach this zone, they might bounce... or not. I can't be sure what they'll do once they reach the zone, but it looks like they will hit that zone given the RSI is breaking...
We might see an euphoric W shaped recovery after Russia reported pullback of military troops. Some military units will start returning to their permanent bases after completing drills near the Ukrainian border, said the Russian Defense Ministry. Looking forward to read your opinion about it.
Last weekly candle triggered a BEARISH ENGULFING PATTERN ! Indeed, the failure to : 1) Recover above the Mid Bollinger Band 2) Hold above Kijun-Sen and Tenkan-Sen is confirming this persisting downward pressure in this weekly time frame. Looking ahead, it is likely to see an ongoing downside move with temporary recovery attempts in a countertrend tactical...
Following the nice rally seen over the last couple of days, recent price action triggered a potential double top formation in progress , coupled with a RSI bearish divergence and last but not least, the last H4 candle is showing also a BEARISH ENGULFING PATTERN. Therefore, upcoming candle price action should be watch at very carefully as a failure to recover...
Hello. I set up 6 possible scenarios. Which do you think is most likely? 1 2 3 4 5 6 None of the options
WEEKLY (W1) This weekly price action is showing a recovery attempt which failed to breakout the Mid Bollinger Band on a weekly closing basis ! In addition the 61.8% Fibonacci retracement @ 4'580.75 has been filled (high being 4'586) and the weekly closing was @ 4'492.50 which is exactly on the razor's hedge (double top trigger level !!!) Therefore, this...
DAILY (D1) Following the recent rally seen over the last couple of days, yesterday's price action triggered a "DOJI EVENING STAR" which closed slightly above the Mid Bollinger Band..but as this kind of pattern is usually bearish, the Nasdaq opened today with a gap and roughly at the level of the ongoing uptrend support line. Today's price acton should be monitor...
MONTHLY (M1) January closing level @ 4'504.25 was above the Tenkan-Sen (4'418.75) which is in this time frame a first positive signal. The pivot level in this long term time horizon is @ 4'637,50 (middle level of the December candle) A monthly closing above this pivot level would trigger a piercing line which would be positive for the upcoming month having...
after a yer of a bull running around, we are facing now a correction. a correction could be healthy and there are some levels to watch here!
After losing 8% from the beginning of the year, the S&P 500 index has found a strong support from which i expect a bounce up. Or do you think it will touch the Key level support? Looking forward to read your opinion about it.
4 HOURS (H4) Two successive failure attempts to breakout the clouds resistance triggered a reversal move from its recent top @ 4'739.50 towards a low so far of 4'606.75, filling in its way both the 61.8% Fibonacci retracement (4'572.75-4'739.50)@ 4'636.50 and the 78.6% Fib ret @ 4608.50 Global picture in this time frame does not look very encouraging as...
4 HOURS (H4) A RISING WEDGE is in progress on the 4 hours chart. 61.8% Fibonacci retracement @ 4'718.25 filled early in the morning and since then the SP500 moved in a sideways price action in making a first DOJI before the last ongoing candle. The recent "corrective" rally failed to recover above the H4 clouds resistance which are slightly above the 61.8%...
2 of the support levels are price support. 'The other is the December 20th low, which has worked for other indexes.
SP500 on the daily chart is trading between an ascending trendline and a daily resistance. The price is now moving to the upper structure and we can see 2 possible scenarios where one is a rejection and the continuation in a possible triangle pattern. The other is the break above with the consequent new ath. –––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple...
s&p500 futures will enjoy a period of increased volatility if the situation arises for topfishers to take in a larger volume than the recent longs minus the profit taking amount this will lead to a higher high on the daily compared to 4743