Yesterday was a very interesting day. We got a massive impulsive candle that took price to a very key level with several stars aligning: - Psychological level of 3000 - Cross of both EMA50 and EMA 200 on the daily - Previous clear resistance (now turned support) that had not been revisited yet in this rally - Touch of a very clear lower trend line of a channel...
💥💥The S&P 500 looks like it could be looking at a little downside as the market figures out what it thinks of the very impactful FED speech. Do we rally here as the market focuses on stimulus and low interest rates for years to come? Or, does the market panic a little over the unemployment rate. Both moves are valid, but we think whatever panicking being done is...
No stopping this, I expect Mini getting close to All time highs.. indicators are strong and very trendy and respecting channel. Buy the dips as usual
The top on the SPY is ALMOST near while most are shorting it at these levels. Seems like a gap fill (325.85-332.58) indicated on chart will occur before any reversal. Also the time frame could be between the 9th of June and 16th.
Guess with all the new bears from the Riot news, we now know this market is trading in a pretty much constant bullish channel. 3 tril more expected to get injected. I expect this to keep going up
breaking through the resistance level 3058$
Even with the bearish news of US Riots. Market continues up, this is trying to make money off the short term. I also expect it to go up due to the influx of shorters. Psychology 101 More money to be made going long
Market needed to rally today so that we can get short setups. We have two halfway back short setups here. Selling off from the Weekly. But, Trend changes require this usually require the larger HWB. Basically, I am a seller up here in the sell zone between 2856 - 2883.
Bearish news + break of the bear flag Possible -2.5% from here in the main Index
With the SPY losing traction im thinking we do one jump up back to $296 and then a straight shot back down towards $255 we have yet to fill the gap and as we always know, gaps are always going to get filled i think that once we reach that $255 gap its back to ATHs until Q2 where earnings might be a lot worse than people are anticipating especially with Disney...
Possible short in the American Index Bearish sings in the Price Action
SPY was rejected at 250EMA and 61.8 Fibonacci retracement level and it completed a legit 1,2,3,4,5 impulse into a complete wave 1. My target for wave 2 is arrount 250.
After such a big drop with a relief rally to follow, people are getting complacent, comfortable, and feeling more confident about holding their stocks - the people who told them to not panic were right - thank you CNBC Fast Money! We've reached a point, technically speaking, where we should expect a sell off and new lows. The 61.8 / golden zone was tapped from...
SPX 500 looks toppy here The daily and 4 hour 200 sMA are very close (at 3010) so we can expect a rejection from this level The 2850-2800 zone should be the next target.
SPY is starting is breakdown, been waiting for this Bull trap to start taking shape. Artificially propped up market with unprecedented levels of unemployment, no end in sight for Corona.... Price never got to the Golden Ratio which is what I wanted to give me higher confidence on my PUTs, currently price is getting supported by the 0.23 retracement line. If this...