Overnight price continued to the downside as noted yesterday. It took out last week Friday's low. In overnight session, it has taken out Asian highs. Today I expect the price to be on upside. Note last trading day of the week, so everyone should be flat by end of the day as you never know what will happen during the long weekend.
Back in October 2018 I shared a chart for SPX mentioning that it would crash, the signals were pretty straight forward and I was surprised to see how easy it is to predict movements of these conventional assets.
The crash followed as predicted. You can see it here:
Now, I am...
Exemplarily, the S&P500 rebounded on its 61.8% Fibo-Retracement. Also there was the correctional high of October.
If the S&P500 can´t close above 2.820 points, it is in a short-term downtrend. The next first target would be at about 2.610 points.
If the bulls still do not take the scepter, it can slip one more level to 2.480 points.
If we see the year-end...
Last week, prices were well sold at the 21 EMA. This indicates that the bears still have control.
An interesting possibility is that prices could hit a Cradle point formed by a confluence of the Triangle boundaries. This point is also reinforced as the lower boundary of a possible larger channel. This mythical point in space and time could present as very...
Since 2016 the biggest drop was 6.14% around June that year. Then 5.05%, 3.30% and 2.90% as it is shown.
We are at a pivotal point now with only 19 bars to the end of the time circle.
Assuming we have the smallest drop (2.90%) the target will be 2616 and if it drops by 6.14% the target will be 2529.
I am waiting for a good signal to go short.