50 SMA has crossed below the 200. EMAs continue to slide. Daily Lower HIgh for the Sequence with a Lower Low. Daily Count is 4/8 with @ 1% decline yesterday coming in on the Failure @ 4568. Once 4550 let go it was all downhill. 4505 is an important level for a continued slide. 4550 - 4568 should Limit the RT. 4425 is open on the break of 4505.
A potential Minor Retracemnt is approaching. Should the ES continue to decline -it will drag everything down with it. Equity Markets are all highly Correlated now. The NDX 200 SMA is below @ 14986. Typically, it Dips in and reverses for a Countertrend. Sellers remain in control, yesterday was an excellent...
Updating the count on SP500 and Nasdaq (next post) to make it look more organic. This is a possibility not a must. It is likely that the previous alternative scenario in red (bigger wxy) is canceld out.
Do not buy the dip. We can see some huge moves down from this!
ES1! / Emini / SPY500 is approaching liquidity reference points - and there's an unmitigated OB+ sitting right below it. This "could" be where ES1! finds support for the next swing up. Play this on a lower time frame like 4H/etc. GLGT
good evening, quick update to my primary case for spy talked about it briefly earlier today via 👇 --- an abcde is a larger area of accumulation which generally takes place in a wave 4 corrective phase. --- here's an example of an abcde from last year 👇 once wave E is in, we generally see a parabolic spring phase which moves very quickly. >while we...
Over the past 30 years markets have been digesting interest rate hikes by the Federal Reserve. I believe this cycle will be no different. In modern markets, the S&P 500 has went on to return 14%, 21%, 40%, & 55% from the first rate hike to the peak rate. This initial correction will phase out and broader markets will run closely with fundamentals.
Before someone says.....hey Dave, this is after the fact analysis.....let me assure you that these levels were known BEFORE the open. Any current S/R Levels subscribers here at TradingView will be able to attest to that. But the important points to make is not just the levels, but reading what the market was doing when those levels were approached. When prices...
Today we had a 50% Gartely retrace (Point D), which takes to prior swing high and also the 24 week EMA. Should bounce (has in the past), but eventually (if not very soon) I expect a retest of prior swing low, 52 week EMA, and 78% fib retrace around 429.
Just simple analysis combined with the meeting on Wednesday, its looking for support lets see where we land.
AMEX:SPY SP:SPX Where I believe the decision will be made, IMO the yellow line is most likely the result if we don't see the TVC:US10Y yield rates rise more. Im Long value stocks, short Growth stocks.
Bit choppy early but we broke bearish keeping trend. Our target was 451.14 and we hit 451.12 AH's so far. Not a bad move down. Still looking towards the 448.91 mark for outside month and back on bottom of broadening range. Follow the trend until the end.
$GLD testing resistance on the downward trend line. Volume was massive today. Looking for follow through and a close above that downward resistance line. Looks like support was established on the low of the bearish engulphing candle on the monthly chart. I'm thinking that the high of that candle will offer resistance if the downward wedge line is flipped. (Perhaps...
AMEX:SPY TP1: 447$ TP2: 440$ TP3: 430$ *This is my idea and could be wrong 100%.
I'm looking to go long in the blue box, stops below. Excellent risk/reward if it comes!