Good Risk vs Reward Time to begin accumulating ?
For now, I am labeling this as 1 - 2 down. In comparison to the $Gold index, GDX held pretty good, retracing only down to %62 area. Metals have some head wind though, like the rising yield and $dollar. This week is going to be interesting.
SPX500USD continuous index
I know a lot of people are VERY BULLISH in Bitcoin.... but I think a caution may be a good idea. BTCUSD is running into a resistance area where marked with (B). IF it turns out to be the B top, the C bottom is going to burn a lot of people.
The rates have been creeping up slowly (idea published on 8/26/20) but they are running into resistance area. It would be interesting.....
Well... needs to break out.... otherwise it could go for one more low
SPX is arriving in the zone. Watching for reaction
So far, SPX is following the path. Is it going to go down for OML to mid 3100 zone? Either way, I am anticipating (b) up
I am watching for the Trend line break for a confirmation. I know everyone is expecting the interest rates to continue to go down but...
Let's see if something like this is possible. Of course, SPX needs to break last low first. If not, continue to look up.
So far, Natty is following the Fib #
SPX - Looking for an inflection point. Possible support shown.
6/27/20. SPX and Nasdaq are dominated by a handful of large caps stocks and they maybe unreliable. Russell2000 is made of mid cap 2000 companies and may represent better picture. White path = we topped in cycle 1 and in the process of trace to cycle 2 Yellow path = we go up for one more higher high but that may present A=C setting up for potential larger move...
Been stalking this top Nice start (a) down about here, should be due for bounce to (b) wave
6/10/20 1 hour chart Nice break out - Proving everything is on track, I will be looking to close around $41
6/2/2020. SPX 4 hours chart Expecting some zigzags but moving up. If breaks SPX 3100, major pivot likely around 3250 zone for cycle_1 top