Pattern: Channel Up on 1W. Signal: Bullish as last week's Higher Low rebound pulled back to the 0.382 - 0.5 Fibonacci retracement zone. Target: 3020 (just below the 1W Resistance).
Pattern: Megaphone on 4H. Signal: Bullish on fractal repetition. Target: 3025 (Low to High extension).
Pattern: Channel Up on 1D. Signal: Bullish as the price is trading on the pre Higher High, consolidation fractal (blue Rectangle). Target: 3030 (the projected Higher High (B)).
See commentary on chart the conditions for a short.
TVC:SPX Watch for breakout as Risk is there
Pattern: Channel Up on 1D. Signal: Bullish as long as the S1 and S2 hold. Target: 2940. *note: How the support levels (S1, S2) match the Fibonacci retracement levels (0.618, 0.500).
Pattern: Channel Down on 1D. Signal: Bullish as the Lower High broke to the upside. Target: 2840 initially, medium term extensions include 2870 and 2890 (all 1D Resistances). *note: buy backs above 2766 for the medium term.
Trump wants to win re-election. Trump can’t win if the US economy enters recession. The only way Trump can possibly avoid recession is if the Fed cuts interests rates now. If the Fed waits til the market has tanked in order to cut rates, it will be too late to avoid recession via monetary stimulus that point. Trump needs rate cuts now! In order to get this he is...
Pattern: Head and Shoulders on 1D. Signal: Bearish (break out of 2800 and 2785). Target: 2755.
Pattern: Channel Down on 4H. Signal: Bearish as long as the previous Lower High doesn't break. Target: 2820.
As title states, key price action levels to consider with regards to S&P500
Pattern: Bullish Megaphone on 4H. Signal: Bullish after the price rebounded exactly on the Higher Low. Target 2,930 (projected Higher High).
I have put today price action side by side with the September - October 2018 price action. The candle flow is very similar and what follows next scary indeed. If we see similar development in the first week of April (the candle sequence in the eclipse), the we should get out of stocks! I don't need to mention that what followed was the strongest correction since...
When talking about S&P 500 as per graph logg we could make conclusion that this was "dead cat bounce. Daily MACD confirms further bearish momentum. RSI turning against. Further fall is imminent to 2400 points. Important thing to say which is subjective opinion, but previous results add weight to expertise: * S&P500 suggested retracement at the Ocotber 2015...