Thursday and Friday was a blatant accumulation, the target is low 2700's. Favourable Profit:Risk ratio. Longer-term it seems that big boys are looking to take indices to new highs to accumulate more shorts before violently turning down in Q3-Q4
This is based on the Nikkei 225 price action from late 1987 to 1990. The existing action fits well, we are now at early November 1989.
This chart presumes one more fast ramp by SPX to 2620, then a sharp 18% fall wiping out all the Trump gains. This would be followed by a 50% rebound, and then further falls into the next few years, eventually reaching the 2007...
This is not a cry to long VIX by any means, but it seems we are off the lows having had the lowest implied volatility in the first quarter of 2017 EVER recorded. Realized volatility was the lowest in 40 years.
What is does tell us though is that the rally is fading, uncertainty growing, and the key level to watch is the fresh low set by the S&P500 week before last.
The classic 3 wave pattern has completed, with an unusually regular cycle of 4 months for each stage. With demand exhausted a pullback is highly possible, and my outlook to expect a substantial fall over the next 4 months.
Elliott Wave is perhaps the least understood despite showing up across all markets and all time frames. It essentially explains the path of a...
The S&P 500 is going to fall and we at theforexportal are calling a top.
Its now a question of when this market reverses not if.
Currently we sit at the top of one channel and the bottom of another.
With RSI overbought on all the higher time frames this looks a good opportunity to SHORT with a STOP above the recent high.
We are SHORT from 2344 with a STOP at...
Every sign the SPX500 has pushed as high as its going for now and may need to return to lower ground to build momentum.
9 inside days at the end of a strong BULL run suggests the BEARS are gathering.
I'm looking to SHORT from these levels.