Original document here: www.armadamarkets.com
There is hourly resistance and double top is forming with negative divergence. Sell near 0.8426. Disclaimer: This and all the ideas I present are for educational purpose only. __________________ Twitter: twitter.com Tradingview:https://www.tradingview.com/u/Sandeep_Gupta/ Mail: sandeepguptafx@gmail.com Sandeep Gupta, Technical Trader
S&P gonna be during months till summer of 2015 without a trend as happened a few years ago.
DAX still going up from it's last bottom 8400. DAX make last friday after Dragi talk a top in 9400 zone. 9400 is important Fibolevel and heavy support zone early this year . By closing time DAX get support at 9200 level a previous supportzone in februari and april 2014. Dax stay still in bearisch outlook. Lower top 10000 to 9900 to 9400 now. Dax need a higher low...
Elliott Wave: Despite the rally, we are in corrective mode since 2000. A similar Correction took place in 1965/1982. 17 years. Here it could take 19y in total. The sequence 1995/2000 was a speed excess over the 100Y channel. We are now exactly on this speed line. A natural correction of 4 years could ensue. This correction could be longer than 2000 and 2007...
Double top is forming near the daily resistance. Sell one pip low to the last pivot low.
Looking at the tops of 2000, and 2007, it is interesting to see where we are 06. Nov 2014 in price and time related to these two former tops. Calculating the time from the Sept. 2000 to the October 2007 top, and then extend the 85 bars from 2007 to November 2014. Markets can be due for longer correction. Adding the pitchfork shows the index streched on price....
I am taking risk as clear triple top is forming but we are buying, let us see. Instinct.
Weekly bottom was formed on 15-Oct-2014 which is one week earlier than our expected ES bottom on this week ended on 24-Oct-2014. The price closed well above the critical sentiment level of 1941.50 on Thursday 23rd and continued the move on Friday 24th towards critical resistance lines 1965/1966. We are looking to buy the dips to 1940-1942 levels and if the price...
Sell near o.8368. An Elliott wave sell setup is forming in C wave and triple top is also formed. Sandeep Gupta, Technical Trader Twitter: twitter.com Tradingview: www.tradingview.com Mail: sandeepguptafx@gmail.com Disclaimer: www.tradingview.com
Note: - Tops a, A and C are aligned in Logarithmic scale - The current top matches the left top of 2000 - Leg C = 161.8% x Leg A (in percentage, 2 times in price) THIS IS MAJOR TOP Ideally: short 4100 Tuesday the 28th of November 2014
- Cross of two important Log Trendlines - Tuesdays, at 108, Apple will have climbed 14% in 9days. - 9d ays is a good time sequence metric for these rallies above 10%
- The trading dynamics since June 2014 display a market under constraint that can't move higher overall. - It is only showing strength within explored price range. - This last leg up reminds me of the Squeeze that we had end of June 2011, the crash occured 3 weeks later.
- SP500 has had a top every 7 years. - Technically we are at similar postures than in 2000 or 2007. - There is the possiblity of a E (we had ABCD so far over 14years). - In October, SP500 will find it difficult to pass 1980: * Supporting channels that require rentry * Monthly amplitude was already 160pts when average over 10periods is...
Looking to short SPX after this double top. Once the neckline breaks you have several opportunities to place short trades ... Target is the longterm channel bottom at around 1737. Taking first profits at 1845.