We are going to be looking at it through the moving averages and keep it simple this time... How are you feeling today?
I am hoping you are having a wonderful Saturday.
Based on what I am seeing in this chart, next week will be a super bloody, full blown red week and that's ok; the market moves in waves... We are talking about the stock market, the S&P 500 Index...
A correction is coming soon. Maybe started this week. How low will it go? Nobody knows.
So many Bearish Posts. Permabears predicting cataclysm. The End is Near!
Doomsayers who repeatedly forecast massive crashes will eventually be right, once every 15-20 years.
Almost always these guys are just plain wrong. Markets exist to print money. Money prints when...
This is a rough estimate projection of what I'm expecting in the coming weeks for the market. I'll post a more detailed analysis once wave 4 is confirmed. Here is the summary (this is not an EWT analysis, so you;ll have to take my word on it for this count - rather, its a rough forecast for what to expect that uses an EWC to simplify my pivot references):
-...
Buildup prior to the invasion was a steady week of lower prices in January, until 17 Jan 1991 when coalition forces took control of skies over Baghdad and destroyed Iraqi air and ground forces.
Overlay is Jan 1991. 17 Jan was the night invasion. 18 Jan the market took a moon shot.
Once it became apparent that our guys were winning, bulls took over and the rise...
Hi Traders !
Previously, The SPX500 Price Formed a Bearish Double TOP Pattern.
Currently, The Price Broke The Support Level (5081.27 - 5051.43).
This Key Level Becomes a New Resistance Level !
So, I Expect a Bearish Move 📉.
TARGET: 4976.00🎯
Here is our detailed technical review for US500.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 5122.2.
Taking into consideration the structure & trend analysis, I believe that the market will reach 5315.3 level soon.
P.S
Overbought describes a period of...
If it is to continue doing so, which I believe it will, then the correction is over, and the bottom is in before 5000.
on the one hour chart we are seeing bullish divergence on the RSI, which has marked prior bottoms.
I wouldn't be surprised if today was bottom.
S&P500 has formed today a Death Cross on the 4H timeframe after 8 months (August 14th 2023), turning bearish on the 1D technical outlook as well (RSI = 37.122, MACD = -81.00, ADX = 53.782) as yesterday it crossed under the 1D MA50 for the first time since November 3rd 2023. Both are technically very bearish developments and according to the last 4H Death Cross, we...
A lot of talk is being done lately on whether the S&P500 index (SPX) has maxed now that it made new All Time Highs (ATH) or it is in need of a strong correction etc. Those who have been following us for long here, know that in times like this, we like to keep a long-term perspective and give you the picture unfiltered with the facts only.
Along those lines, we...
Here is our detailed technical review for SPX500.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 5062.0.
Taking into consideration the structure & trend analysis, I believe that the market will reach 4928.9 level soon.
P.S
Overbought describes a period...
S&P 500 Price Consolidates ahead of Earnings Season
On April 4, we wrote that the S&P 500 is showing signs of weakness around the 5,250 level. How is the situation on the stock market developing by today, which is the start of the reporting season for the first quarter?
The S&P 500 fell sharply on Wednesday amid higher-than-expected inflation data.
But the S&P...
For those who have been here since 2022 early 2023 when there was so much fear in the market and we called the market had bottomed. I think it was the right call, even though we had a lot of naysayers. Now I think we are nearing the end of this rally which I estimate will be sometime in February 2024. I have two outcomes the green line below which I highly favor...
fibonaaci levels showing me the SPX has peaked
and more money printing is required. Even though
real interest rates are still negative (loose money)
the SPX has struggled to break higher. Fed needs to pump
more money and buy more bonds. If it can not do this then
Fibonacci has decided the market top. and a 38% retrace
could happen.
SPX500 could fall towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 5,111.36 which is a pullback support that aligns with the 50.0% Fibonacci retracement level.
Stop loss is at 5,050.00 which is a level that lies underneath a pullback support and the 61.8% Fibonacci retracement level.
Take profit is at...
Market never liked uncertainties, which was evident on the US equity markets for one more time. The optimism from the beginning of this year is still not fading, however, it reacts to increased inflation data in the US and also geopolitical tensions, which for one more time are emerging in the Middle East. The future period might bring some challenges to the...
