The chart posted is my view of the wave structure it is forming . We had two legs of equal in the sp 500 up into 5123 from 4954 .I would be rather bearish BUT cycles are in a time frame coming up and I think I would see a rather complex structure in formation . We have had a.7.3 % Correction >So I have now taken a 40 % net long I did want to add at 5061/5058 ...
I have analyzed the SPX using 2 common indicators; i.e. RSI and breadth above 200d SMA. A very similar setup was seen just before the 2018 correction and the 2020 crash. This recent rally of past 5 months is bigger and more irrational than the previous two rallies. Thus, we should expect a bigger move down over the long-term.
Assuming the SPX continues to trend lower an important bottom could be made on 05/17/24. The bull phase from 01/05/24 to 03/28/24 was 57 trading days multiplied by the Fibonacci ratio of .618 equals 35 trading days. Adding 35 trading days to 03/28/24 targets 05/17/24 for a potential SPX turn.
Pair : SPX500 Index Description : Consolidation Phase Completed " 1234 " Impulsive Waves Break of Structure and Retracement Fibonacci Level - 61.80% Exp Fiat as an Corrective Pattern in Short Time Frame
This idea is based on the retest of entry line and rejection up towards the targets. Be patient with entry, enter just after this rejection. Set your SL after the entry and if any 30M candle closes below the SL zone, cutloss your trade. TP your trade partially at the black lines. I will update this trade when-if entry conditions are met. Not guaranteed. If you...
ABOUT This idea post is showing some of my longer term stocks that are creating a good structural bases. Following are going to be a list with annotations for each stock as well as what I am seeing. I will be updating through out the week when I finish my full screening. ABOUT ME & MY TRADING STYLE I have over 15 years trading experience. In that time I have...
The S&P500 is approaching the 1D MA50 (red trend-line) to test it as a Resistance for the first time after the April 15 bearish break-out. It has already broken above the Bearish Megaphone, the 4H RSI has formed a Channel Up similar to the price action's and so far this sequence of events is fairly identical to the previous correction of August 2023. That...
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Using history and other TA I clearly show that we are about to have another leg up on the stock market with the SPX reaching around 5500.
Technical Analysis and Outlook: The index reached our projected Mean Sup 5013 and swiftly jumped higher by suppressing our played-out interim Dead-Cat Rebound Mean Res 5110. Now, the index is moving to complete our Inner Index Rally 5175. This upside move will trigger a strong squeeze pullback to Mean Sup 5013.
"Higher high" and "bullish flag" are terms commonly used in technical analysis, especially in the context of trading and chart analysis. A "higher high" refers to a price peak that is higher than the previous peak in a chart pattern. This indicates upward momentum and is often seen as a bullish signal, suggesting that the trend is likely to continue upward. A...
The true, historical surge in oil prices has yet to come. This would only be the 3rd major bull era for crude oil in the last 145 years. Buckle up. #crudeoil #energy #inflation #historical
Follow-up to my previous 5137 Top Call (click). Markets appear to be retracing finally. This could be just the start of correction. Minimum next leg depicted goes to 4900-ish. $ 5109-5137 is major resistance that may be retested. $ 5044-5049 a minor support that will hopefully bounce. $ 4896-4924 is next major support and BEST GUESS...
SPX is heading to new all time high by May 21. Invalidated if breaks below Apr 19 low.
Understanding the Interplay Between S&P 500, Core CPI, and the Non-Manufacturing Index The world of finance is a complex web of interconnected factors, where seemingly disparate indices can influence one another in unexpected ways. Among these, the S&P 500 , Core CPI ( Personal Consumption Expenditures Price Index ), and the Non-Manufacturing Index stand...
Hi folks, it's my opinion on S&p500 Candle formation on 4H, 15 min shows signals that price go through 5075 zone for sweeping liquidity , be care that if price go throught 5120 zone strongly and close above it in 15min this analysis would be fail.
The foreign exchange market (Forex) is a global, decentralized financial market where traders buy and sell currencies. It is the largest and most liquid market in the world, with an average daily trading volume of over $6.6 trillion. There are many reasons why the Forex market is popular with traders: High liquidity : Due to the huge trading volume, traders can...
Critical time ahead if there is to be a pullback. Likely Fed triggers final push before a potential reversal