S&P500 (SPX) Hyperwave - have we entered phase 4?
SPX is potentially one of largest hyperwaves ever. Tyler Jenks predicted between $5600 by 2023 to $7500-10000 by 2025 (conservative/aggressive targets).
Hold the line and brace for impact!
We are retesting strong supply at all time highs.
Don't be suprised of a fakeout and drop on major news.
We previously called the 4% drop on the colonial pipeline. I am predicting a 7-8% drop on the sp500 very very soon.
Let's go Ninjas!
My historical analogue is predicting a small move higher to 4250 before crashing all the way down to 3920.
This drop is a 7/8% move so something significant is going to happen. The previous drop I predicted turned out to be a "cyber attack" and price dropped 5% so who knows what it could be this time.
I will be shorting the reversal and the subsequent bounces...
Memeline supporting uptrend has broke
Backtest of underside of SR
Seems a good bet especially with growing inflation concerns
Close through the SR box would make me re-evaluate and likely close though!
Sp500 is starting to crash. You can check my previous content as to why but a quick breakdown is as follows;
News catalyst (colonial pipeline)
big tech/sp500 divergence
Apple has ran up into the daily supply zone created previously. We expect price to start to drop from here along with the sp500.
Wait for confirmation or trade this entry as set and forget, your choice!
let's go Ninja's.
From our previous SXP analysis, we were anticipating a parallel channel but upon seeing price action, we find that it is more fitting that it's an expanding flat triangle. Price is moving correctively down and we have 2 major areas which we are keeping our eye on.
This week and next there is increased volatility since we have many fundamental catalysts.
We have hit our reversal point on the weekly and we expect a 300 point drop in a short period of time.
What does the community think?
Amazon appears to be stalling at the highs. As the sp500 moved higher big tech seems to be stalling out at the highs. This is usually a very good sign that a major market crash is down the line (this year).
Over the next few motnhs we are going to see huge swings/volatility in the market and amazon is going to lead the way imo.
I will be looking to short the...
If you short the bounces this week with this week and next week expiration down to the 3880 level then the returns are in the 1000's%.
I've been calling the top the past 2 weeks, I was a little early but I was waiting for price to turn and start bouncing. That appears to be happening right now which also seems to coincide with the bitcoin crash I am predicting....
So we shot straight into the 4080 area and over shot the area.
Price is incredibly over-extended right now. (Bearish)
Decreasing volume as price rallies(bearish)
Void to fill below (Bearish)
Historical Analogue points to bear move.
I will again short the bounce with expiration next friday.
So we hit the 4080 level which is the most extreme point the reversal can happen. I predict we will start to drop this coming week.
What I will be waiting for is a STRONG impulse to the downside on the 5 minute and then WAIT for price to bounce, that is where I will look to enter.
Reasons for Bias:
Volume and price divergence
Parabolic moves dont last,...
The market rallied higher which was a possibility as I mentioned in my last vid but dont worry I am still expecting a strong move lower either next week or the week after.
The drop is expected to happen around 406-408 and initial target is 388.
Let's go Ninja's.