The current upward trend, which began on October 20, 2022, at a low of 3491, may last through the end of the year, reaching levels of 4900–5000. From there, we might observe a correction of 15%–18%.
This week I continue my speculation that the market is slowly trending upwards, forming the ending diagonal. I see no clear patterns to bounce off any trade, so I stay on the sidelines, concentrating my trading in the energy sector.
SPY reached double pitchfork resistance levels (2 different pitchfork lines intersecting close to the point where price reached), both on daily and weekly. RSI on weekly also reached a pitchfork resistance line. This gives a good probability that SPY will take a down turn soon.
SPY has been staying for too long at the level of the red line on the weekly chart (and slightly went over it) and didn't bounce down from it. On the other hand, the green line seems to provide a better support. Therefore, I expect SPY to break through on the upside.
From a technical point of view, Ferrari ( NYSE:RACE ) Stock Trend is bullish, but at the same time it has reached an important resistance area around $300/320, and from here it could trigger a short-term corrective structure. The minor structure 12345 might be completed, but as we can see from the chart, it might be a wave 5 of 3 (major), so once the correction...
SPY, on weekly chart (and, to some extent, on daily chart as well) has been having difficulties crossing the marked upper pitchfork line which makes it likely that SPY will fall. The monthly/long term outlook remains bullish though.
DJ:DJI A reliable thing on which almost all investors believe in to know the trends of the market weather it will be upside or in the down side in the short term. so here it is a basic outlook of what I think looking at the chart of our fav index Dow jones which tell us so many things at ones and sometimes says nothing. This is the time where we have to...
Stocks look poised to head sharply lower through the rest of this year. The banking crisis has been snoozed like your alarm clock blaring at you first thing in the morning. The thing is you only get about 5-10 mins before it blares at you again. More bank failures are coming. Most banks are holding treasuries with unrealized losses and myself and others are...
In the long run, it's still one of the best investments. Its net charge-off rate rose to 1.61% from 1.50% in January and from 1.26% a year ago. By comparison, the metric was 2.55% in February 2020.
Hey guys can see the moves made by dow jones from 13 march....each leg looking a 3 wave structure.... In my view it is in 4th wave of lower time frame and would show you much deeper levels... This is not a trade idea but for educational purpose.... abcde patter in formation...! Regards
Bank of America is one of the largest banks in the United States, with more than 4,000 branches and 16,000 ATMs located across the country. In 2008-2009, the bank was among the many banks that required a government bailout during the financial crisis. Despite these controversies, Bank of America remains a major force in the banking industry and continues to be a...
SPY weekly reached pitchfork resistance levels and it's RSI as well. While a breakthrough on the upside is possible I find it more likely that SPY will fall.
Major selloff in natural gas in the last couple of months. January almost looked like a caputilation month based on the volume traded Curretly on support, and maybe time to put some toes in the water Trade small, stick to a stop loss Expect volatility
Looking at the daily candles as then continue to print higher lows.
Reverse Head And Shoulders in play? Is this just a January rally? Re- enter the markey after Tax Harvesting selling in December?
We have a strong order zone and we are waiting for the price reach that zone.
Levels as mentioned in the chart, its a quick trade. Lets see where it goes
S&P500: By the book again? Classic technical analysis! Literally a school of technical analysis! In its last 3 attempts, the index tried to break the resistance level while MACD shows 'the cross' (the blue line dropped below the orange one which indicates a change in the trend) and led the market to another down-trend period of several weeks. As you can...