US500 - Intraday - We look to Sell at 2996 (stop at 3011)
The rally has posted an exhaustion count on the weekly chart. Trades at the lowest level in 15 days. An overnight positive theme in Equities has led to a higher open this morning. The 261.8% Fibonacci extension is located at 5953 from 3026 to 2998. Expect trading to remain...
US500 - Intraday - We look to Sell at 3020 (stop at 3030)
Our profit targets will be 2910 and 2900
Resistance: 3022 / 3040 / 3050
Support: 2970 / 2910 / 2900
Weekly – Close to an exhaustion count (trend line resistance at 3032)
Daily chart – Overbought
Intraday chart – Ending wedge. 261.8% lines up with the trend of
higher highs. A break...
In my previous analysis, I expected a fractal motion. Current motion data refute my idea. The changed wave path changed to a declining double wave system. We are currently in the process of building a second falling wave. The target price is 2509 usd.
The previous analysis followed the current exchange rate movement. The likelihood of building the last wave is greatly reduced. That's why I lowered the target price for the falling wave structure. This level changes to 2680 usd. Another 5% reduction from the current level.
Price recently failed to break VERY STRONG resistance once again, this can only mean bearish movement.
The stock market and the US economy are in trouble, the bubble they are in is going to burst and everything will come crashing down with it.
We are on the verge of 1 of the biggest recessions in history yet not everyone can see it as the government and Trump...
This region has already proved itself as reversal territiory. Everytime there has been an obvious bearish candlestick reversal with clear exhausted spinning top formations. With today's gap up and lack of momentum so far, might this be the sign of a corrective movement down?
We expect the exchange rate adjustment level to be 2835 usd. We expect a further fall from this level. The fall rate may reach 2054 usd. The size of the decreasing wave structure may be twice the size of the prior correction wave structure.
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...