SPY 50% Crash Looms S&P500 Index is a benchmark for the US and global equity markets Historial 10 Year Bullrun posted 300%+ gains Technicals show top forming since Jan 2018 Fundamentals align for recession: US-China Trade war, Gov Bonds rally, USD continues strong, Treasury Yield Inversion, Minimum Unemployment Bears target a 40-60% retracement ...
Text book elliot wave growth, text book AB correction, now only remaining the the text book C decline after the text book CB triangle. Can not find a more text book case in book texts.
Map these Elliot Wave points and combine with Fib Retracement / Fib Trend Retracement. You will find text-book hits on text-book fib levels. I cleaned all of this away for a better final movement view, which is: A retracement towards 0.618, but fundamentals might shake things up! Down it goes nontheless.
History repeats itself, both on RSI, price action and even volume trends.
SP500 QQQ ETF supply and demand analysis and forecast for 22nd April 2019. SP500 SPY ETF is trying to break weekly supply at all time highs around 293. There is a clear long term weekly and monthly uptrend with all time highs previously eliminated and brand new demand zones created on bigger timeframes like the one on the weekly timeframe around 281. In an...
A single reason not to be long at present levels: ascending parallel channel resistance on the long term monthly chart.
Here is a scenario for a 50%-61.8% retracement for SPY, up above $282, before continuing it's sell off. Looking to the left, there was a very similar structure in late February into early March. You can see how the peaks are quite identical, and on the low following the last peak, there was a retracement between 50%-61.8%... and also to the area of the 100MA....
Looking at technical Bearish indicators forming SPY has been levitating with no real organic growth
After weeks of bullish action. Multiple Bearish Indicators formed. WHERES THE VOLUME?!?
SPY may continue its sideways chop. Downside pressure gets stronger. With no volume we are getting held up by very little.
Lots of sell indicators pointed out. The one positive buy indicator is the Trend Meter. 10 year yields are at a matching point, ready to send yields lower. Yellow trend line is previous support, now resistance.
Update. SPY has moved higher but this trade is still in play. Recommended course of action would be to sell here but be prepared to buy back if we cross both the yellow resistance line AND orange line. Trend meter indicates possible further bullish action but all other indicators suggest a drop from here. Also possible, we could grind out along the yellow...
It's only a matter of time before the market stops holding its breath.... Bearish Indicators, Domestic Gov Conflict, Trade wars ...etc
You can see where the support (blue trend line) broke down while a new down trending line of support (red line) was created. Previous support line now acts as resistance. Failure to break back above the 2009 trend confirms the longest bull market in history has come to a close. Enter the bears. I also see the left shoulder and head of a possible H&S formation....
Just my opinion, not financial advice! SP500 index to reach 3350-3400 by end of September 2019. Stock loss news has been dominating the narrative lately but the charts say otherwise. You can see the current ATH bounced perfectly off the previous cycle's 2.618 level. (Thin black fib lines). Longer term fib, measuring from the '94 to the dot com peak, matches...
Has been trading down, Down trend will continue for a bit.