Trade Idea
The rally has posted an exhaustion count on the weekly chart.
Broke the sequence of 6 negative daily performances.
The overnight rally has been sold into and there is scope for further bearish pressure going into this morning.
A break of bespoke support at 2799, and the move lower is already underway.
The bias remains mildly bullish but there is scope...
Looking to short SP500 on the 3rd touch of this bearish top trendline and lower high. This would then mean the 5th bearish wave would be started and hopefully my original target of $2960 will be achieved.
Nice 1hr bullish trendline break and lower high on SP500 chart.
I am looking for a break of the 1hr 50ema next and for price to drop back down to previous support at $2960.00
We are writing a quick update on the S&P 500 Index (SPX) by popular request...
The signals coming from this chart are all bearish, there isn't one single bullish signal, so the SPX can fall more and more and even temporary bounces are looking scarce.
There should be some support around the 2700 - 2740 range, but if this level breaks you can expect to move...
Here we are still looking at the same chart we made back in April when the drop that we have been anticipating for long started to take place.
We believe that the SPX will go lower and this drop can start even today.
Right now the SPX is trading below EMA100, which held as support on the 13 May. If the SPX closes below this level, more drop ahead for...
He'll huff and he'll puff and he'll .....Well that's about it .
At the moment they are tallying up the newly acquired shorts on the markets to add to the get rich quick black Monday desperados .By Friday they should have enough shorts to have a great shindig in the Hamptons at the weekend .As soon as it's official and they...
The S&P 500 Index (SPX500USD) has reached a new all-time high while weakness signals continue to pop up all over the place.
The MACD continues descending and going lower:
Bearish divergence is now showing on the RSI from the 23rd to the 29th April, marked with a blue arrow...
How...
You could say we got the S&P 500 (SPX) charts completely wrong, or you could say we saw this one coming, that is completely up to you, you can check our previous analysis here:
In the analysis above, you can see that we mention the price moving to the all-time high before dropping...
I have tried multiple times to short the S&P500 this quarter with little success. 4hr & 1hr trendlines that were broken then appeared to be fake outs and the index just kept on climbing. Resistance zones held and then failed and it has been quite messy.
That being said, the power of R:R ratio always comes through and the higher it climbs... the more it has to...
S&P 500 Forming head and shoulders and is expected to have another leg up within the new few months to a peak of $3000 marked in yellow. Before we see the reversal and start to fall to the target areas we have shown. S&P 500 has been on a Major bull run since 2012 and is now expecting to curve the momentum.
The SPXUSD (the perpetual contract of the SP 500) is somewhat of an indicator for domestic US investor sentiment. In comparison, I consider the DJIA to be an indicator of foreign capital flows to the US.
The US appears to be triggered by the nomination of a Supreme Court judge, or rather, the slander and innuendo associated with the nomination... and despite all...
The SP 500 is stair-stepping up parallel support lines, whilst butting up against parallel lines set by March intraday lows. This is technically bullish, and implies that a breakout to the next parallel line is in the cards.
The only concerning point is the successive Stoch RSI bearish divergence. While excessively bullish markets will ignore bearish divergence...
It's always better to wisely chose your index, to short the weakest, and buy the strongest. I think by comparing performance between SPX/NASDAQ we could better chose the index. Currently the NASDAQ is the strongest index. But my analysis is showing a reverse is possible and NASDAQ could become weaker than SPX in the next weeks.
SPX500USD short 2610 levels. This level is half the previous decreasing correction wave. I expect a steady increase from the 2610 level. For the first purpose of the rise 2881.
Using the Relative Strength Indicator the S&P500 is showing the third strongest run in 40 years... and surpassing the other two in Nov-1995 and Mar-1986. But don't try to call the top...
In each case the S&P500 made higher gains, and momentum actually faded significantly before any major pullback.
Major pullbacks are preceded by consolidating ranges (i.e....
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