So we took a loss on SP this week when we sold on the bearish rejection of the top trendline, attempting to catch the right shoulder.
Indices were tricky this week with trump but yet again our analysis was pinpoint for the buy scenario on the close above the invalid head with targets provided!
As i published in my last report btc formed a fake bull flag, whales will be selling on this zone to after that drop.
With Markets Under Siege, It's Time To Consider Serious Portfolio Adjustment,
With the stock market in an unprecedented period of volatility, we are all sometimes forced to make tough decisions. The recent turn of events around the...
All analysis of COVID provide us horrible numbers so i expect at least 1-2 weeks more of downtrend and after that with all the contingence applied from the different countries numbers will get better and also SP will start a slowly recover.
This chart would suggest we are very close to a complete and utter collapse in stocks. The rising bearish wedge pattern indicates when something is far overbought and usually corrects dramatically to the lower side, usually caused by some sort of catalyst. The Fed losing control of REPO may be that catalyst or may be just the start of something even more dramatic....
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.
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...
SPX500 is nearly 20% drop. D1 momentum candle indicates a decreasing trend. The upper level of the parallel channel drawn on the ATR axis (orange line) is a resistance to the exchange rate. Also, it can be seen that the exchange rate is the last part of a double-rising correction wave. The last wave target price is 2744 usd. From this level, I wait for a double...
With Trump's protectionist rhetoric, we could see the big guys taking profit out of stocks. S&P500 should then be on a new track lower. Right? Some stocks may still do well, but companies like Apple should certainly see profits declining over the next few years. Won't be a crash though. A steady trip South, stopping off at a few stations a long the way....