SP500 has rejected the resistance once again.
Could be looking to see Yen pairs strenthen in the up coming week.
Will be watching closely for the weekly closure to confirm my shorts.
Had a small position which was entered on the 4 hour chart. Will update as we go ahead.
Confluence of resistance here:
Median line in pitchfork
50% retrace of december decline
38.2% retrace of longer term october-december decline
Previous pivots in price(19th dec, 10th dec
Stop just 2600 which was another strong pivot area, target ~2487 which would be 38.2% retrace and pivot back in 2017
Technical:
If you are looking too closely at the markets, then you will have a myopic view of the markets.
It is still clear that the S&P 500 is moving sideways.
I have wondered how the market would get to the trendline, and the way it gets there always takes me by surprise.
Looks ominous but: Sideways to Oversold Market
Fundamental:
Nothing has...
There are two Bearish Engulfing formations being tested by the current candles. One on the 240 world and the other on the 60 world. If the tests fails, leaving the formations intact and the marked levels of previous support now turned resistance hold their footing, then the marked trade may well turn out to be a good...
Hello Traders.... here is another trade that is about to complete setting up. The SP500 is in a bullish trend. Do not attempt to sell this market unless you know what you are doing. Price is finding support the Fib 38.2 as shown on the chart. Note how for two times they have revisited this Fib level, giving you a Double...
The red line is the federal reserve balance sheet, total assets. Most of the rallies since the January high have been during weeks where the fed has temporarily stopped shrinking its balance sheet. Another shrink was disclosed late on 26 June. The fact that the sell off occurred after the disclosure, rather than the shrink itself suggests investors are trading the...
Sell Level We look to Sell at 2740
TP: 2600
SL: 2800
Technical Analysis:
A 5 wave bullish count has been completed at 2880
Price action has posted a bearish Hanging Man and is negative for short-term sentiment
Trades with a bearish descending triangle formation
A bullish reverse Head and Shoulders has formed
The reaction higher is positive, however, we view...
The setup here is very clear to me.. We're running out of fuel and the PRO SINEWAVE will soon plot the EXIT cycle that will terminate this bullish breakout pattern...
Once terminated the market will switch back to range / retracement mode. After such a rally (+30% with no breathing of more than 3%) we can easily expect the prices to retrace at least to...
Some who follow me knows that I've been searching for a top for quite while. I've been taking some stoplosses due to a bad timing. Anyway that never meant that I was bullish ^^
Even though I remind you that the big short top is not nearly here ! I still think that we're reaching a mid term peak here and we'll shortly look forward to support areas.
We've managed...
No need to be long on the comment... it's a clear three uncorelated signal here... so very low risk entry point to play these two corrective waves.
We've got both Sinewave & Momentum indicators giving signals and they're doing it on a precise price target projected from the major Elliott count.
At this point any support breakout is a confirmation. The stoploss...
Today's surprising rally that followed the weekend with what headlines tried to explain as Korea's redemption and "less expensive" damages from Irma !
Well.. call it however you want to me it fits in two words > stop hunting ! This might be the only actual fuel to this unexepecter price surge that came out of nowhere.
Anyway the right question to ask yourself is...
This is based on the Nikkei 225 price action from late 1987 to 1990. The existing action fits well, we are now at early November 1989.
This chart presumes one more fast ramp by SPX to 2620, then a sharp 18% fall wiping out all the Trump gains. This would be followed by a 50% rebound, and then further falls into the next few years, eventually reaching the 2007...
ES Daily range update
Inside....2478.75///2471.50//2467.75 higher low
O1...2481.00 closing flag resolve/2465.50.air
O2...2484.50/2460.75 1st reversal
O3...2488.00/2456.50
O4....2491.75 next accelerator/2453.75 range bottom to lower
ES Weekly noting upper regression 2484.25 a tough nut to hold/2463 momentum loss
SP500 small weakness today
which should take him in the next few hours in area 2467
There they will decide whether to bounce or start the descent for zone 2458
Let's zoom out and have a look at long-term horizon of the SPX500...
It's still in a upwards move with Higher-High's and Higher-Low's however June closed with a pin-bar.
Could this be the end for the Bulls and are Bears lurking around the corner?!
The 20/50 EMA are not touching at the moment and the June pin-bar closed higher (green) ... I think it's aiming...
Standard & Poor’s 500 is an American stock market index consisting of 500 large companies having common stock listed on the NYSE or NASDAQ and their market capitalizations. It captures approximately 80% coverage of available market capitalization. Because it includes both growth stocks and value stocks it is one of the most followed equity indices and is considered to be one of the best representations of the U.S. stock market and a trend indicator for the U.S. economy. S&P introduced its first index in 1923 and its present day form on March 4,1957. It was developed and continues to maintained by S&P Dow Jones Indices, a joint venture majority owned by McGraw Hill Financial.
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