At the end of last week, sellers confirmed weekly consolidation by closing below the previous week's low. From now on, bears have control over the price on the weekly timeframe. We should monitor the progression of weekly lows and highs to see when things start to shift, but until then, we should trust the sellers.
It is also notable that if we look at the futures...
Pair : SPX500 Index
Description :
Bullish Channel as an Corrective Pattern in Short Time Frame and Long Time Frame and Rejection from Upper Trend Line
Break of Structure
RSI - Divergence
Impulse Correction Impulse
The month of February saw an incredible bull run up to 5110.
The high was created on the 29th of February and as of March 1st, the high has not been broken. There is bearish divergence on D1 and H4.
The upward channel is at the risk of being broken after 2 months.
We have taken a short position at 5104 with a stop loss at 5150 and a reward of 4750.
Good luck!
S&P 500 Index forecast
The price dropped $29 as we mentioned in the previous idea,
For Today, still has a bearish momentum to reach 5045 and 5025 as long as trades under 5074
But otherwise, stability above 5097 will trade in the bullish zone to reach 5120, and then 5175
Pivot line: 5075
Resistance Prices: 5097 & 5120 & 5150
Support Prices: 5045 & 5025 &...
On Friday, the S&P 500 in the last part of the session began to fall with some force. And today, we have seen that it has fallen and opened below the support zone at 4.998
The question we have to ask ourselves is: What does this mean? Does it mean it will continue to fall? Has a roof formed?
Last Friday, the options contracts expired. This meant the...
Hi guys, I want to share with you this bullish megaphone pattern. I had made several post on this pattern we still look to be following it. I am still bullish on the stock market in general even though things look bad right now. I have compared this on a monthly chart but the weekly looks very identical to the image I attached.
Please like if you find it...
Dear Esteemed Members,
The supertrend was bullish, but two sell signals concluded with a bearish price action.
The rejections happened around the resistance level from a previous top.
The price is now below the upper green support level.
I think the S&P 500 market will reach the next support level: around $4600.
So, I'd consider a short position. You can...
Hopefully its time to take another crack at forecasting Primary wave 3 down. Wave 2 started strong and managed to retrace 98% of Primary wave 1 down. I began to have doubts we were in the right place. Still would like a drop below my green trendline here:
We finally broke well below the yellow and have created a lower low and lower high. These are early...
As we continue to subdivide within this larger cycle wave a down targeting the low 3,000 area, we appear to find ourselves in a countertrend b-wave retracement. This area has the potential to carve out potential complex patterns as b-waves and wave 4's are the areas where traders are frustrated from a sentiment standpoint.
I do not think we should be prepared...
Minor wave 4, if it ended was a dud. But the models indicate Minor wave 5 and the Intermediate A top will come quick. The historical models indicate the market can now top as early as the second hour of trading tomorrow. Minor wave 3 is likely already through wave 3 as seen here:
Based on a hypothetical top of 4384 the path in the image above outlines the rough...
The S&P has had a bull run in 2023 but it has stalled at 4600. What is even more worrying for the bull is that:
1) There is a huge Weekly double top with divergence on S&P
2) There is a pattern to sell
3) The neckline was broken and the market closed below it
Overall the market is going to be bearish for the coming months. We will continue to sell all indexes...
This is a weekly chart and I meant to share this on Friday; but forgot. Blue vertical lines are the paths from previous bear market lows to new all time highs, over-layed to the bottom of October 2022. Red vertical lines are the bear market paths from all time highs to bear market lows, over-layed to the high of January 2022.
As you can see we are no longer...
SPx
The direction can succeed in dropping about 1.58% on Friday
Now it tries to touch 4442, but the condition should break 4457, then will push up while stabilizing above 4442,
and stabilizing above 4478 will be an uptrend to reach 4505
The pivot line will be 4442,
Pivot Price 4457
Resistance prices: 4478 & 4505 & 4526
Support prices: 4442 & 4421 &...
SPX 3D support is now at $4100
Enter 50% at the current price
and try to set some BUY orders near the support zone
If SPX stays above the trendline,
the Take-Profit target would be 5%, 10%, and 15% from your entry
Cheers
S&P 500 moved towards the 3980 level as traders prepared for tomorrow’s CPI data meanwhile, the tech heavy NASDAQ Composite was up by 0.4%.
Today’s rebound is led by energy stocks. WTI oil managed to get above the $73 level as traders focused on the Keystone pipeline outage.
From a big picture point of view, S&P 500 continues to consolidate in the range between...
Pair : SPX500 Index
Description :
Bullish Channel in Long Time Frame and Rejecting from the Upper Trend Line Completing its " 3rd " Impulsive Wave. We have Break of Structure and Making its Retracement in Corrective Waves " ABC " . Possible Rejection from Fibonacci Level 61.80% or Previous Resistance
SPX Daily
Price Chart
After the recent bounce of the level of resistance (Red Box) the SPX snapped it's first small level of resistance (Teal Dotted) and has continued lower. Price has also closed below the 50-day EMA while the 12-day and 26-day have recently crossed and the 50-day flattens out. The next level of support (First Green Box) should come into...
Notice how we have tapped 4600 which an extreme overbought level. SPX must retest a lower level of 4380-4330 and if it does not hold it should freefall to 4200 in prep for Q4.
SPX has been in a bullish outbreak since march 2023 with only a slight dip in june 2023.
a correction is due.
I am using AMEX:SPXS as the inverse of this play.
I do have a...
