HERE'S THE GOLDEN RULE: * SELL when the price make a new "Lower HIGH" * BUY when the price make a new "Higher LOW" If you like my analysis, please don't forget to LIKE & FOLLOW! Free Tutorial on how to trade the AB=CD coming soon!
Bold move, over exposure. You ready? Short VXX which tracks the VIX. Buy XIV which is inverse to the VIX. Buy SPXL which is a 3x levered SP500 ETF Short SPXS which is a 3x levered short SP500 ETF If this isnt just a correction were screwed, if not, then congrats.
Our preference: position bought above 2415,00 with targets at 2431,00 & 2436,00 in extension. Alternative scenario: in break of 2415,00, a continuation of the drop will be envisageable with 2410,00 & 2404,00 in line of sight. Comment: The RSI is mixed with a bullish bias.
It looks like the circled Wave 4 is finally complete and that SPX will make new highs, technically most immediate target of 2480 should be achieved as per this analysis, however from a psychological standpoint I expect it to atleast touch the 2500 mark. Let's see how it transpires.
It looks that the recent sharp leg down was the Wave C of Wave (4) and hence we can see a little more upside as Wave (5) takes it's course. In any case precaution must be taken and strict stops must be put in place as the alternate count in Black can not be neglected at this point. I will update further as this market progresses.
Our preference: position bought above 2424,00 with targets at 2440,50 & 2450,00 in extension. Alternative scenario: in break of 2424,00, a continuation of the drop will be envisageable with 2417,00 & 2404,00 in line of sight. Comment: The RSI is mixed with a bullish bias.
Expecting the start of Wave 3 in the SPX, as long as the market stays above the black trendline this count should be considered valid. If the count is correct then we will soon see formation of new highs. From a trading point of view the invalidation level is at 2320. As this market progresses and confirms the count, I will update it further for possible targets.
StoppLoss 2374.... weakness under that level, could be a bad sign. Will do another rethink of the bull/bear situation then, maybe with some updates here.... Will Ichimoku cloud support SPX at this price too ? Pivot 2384 could be some resistance....? Nothing is obvious in this situation, but I put the Hidden Bull dvg to do its job untill bear take over.
SPX completely went up on bullish trend after long period of correction. As we can see SPX break through the solid line directly and approaching the 2300
This ramp today is notable, but no different to the one after Brexit
So far all ideas have worked out . In just 48hrs ago a long, 12hrs later reversal short later structure of s&p500 which played out perfectly. So far all S&P 500 have worked out. I have looked at the price action on it once more. We could be getting in to a small get another bull as projected.
The up move in SPX should start anytime, most probably from the lower trendline.
Price should come down all the way to 2110/2103. BUY AT 2121 LEVEL WITH A STOP LOSS JUST BELOW 2103.1. PROFIT TARGET AT 2183.