TheMarketDog2

TheMarketDog2

... as per yesterday's channel... looking to enter long again around 35

TheMarketDog2

Please check my previous post. this seems to me like a very good confirmation

TheMarketDog2

Back in Feb/March we retraced 0.5 of the first drop, back around 3130. I expect the same to happen with a 0.5 - 0.618 retracement before a second drop

TheMarketDog2

bullish RSI

TheMarketDog2

1 Month long channel broke down on the futures. Next level to watch 3075? I am betting on a large correction if we are out of the 2 nd channel

TheMarketDog2

From my last RUSSELL analysis I was mentioning the eventuality of an end of W5. This seems to happen now. I am now looking at this downward leg which could a simple ABC correction if A bounces back at the level of the previous 4 wave... Or if it slips lower confirming my theory of a bear market complex correction.

TheMarketDog2

I am definitely not an expert in Elliott Waves but for the first time I kind of see some patterns in the RUT futures. The uptrend seems like a ZZ 5-3-5 typical corrective wave. If this confirms, it would mean it is part of a bigger ZZ corrective wave. I'd like to have some feedback on this... Thanks in advance!!

TheMarketDog2 Updated 

As RSI is computed on the close, took the liberty to 'cut the Feb Candle'. Happy to see that we are in progress of making a HH within the bearish RSI trend To note: in 2000, after reclaiming most of it's initial loss (down 41%, up 44%), the NDX bounced of the upper bound before falling. Ressources: www.investopedia.com

TheMarketDog2 Updated 

Weekly analysis. I’ll not comment on the fundamentals… because we know they aren’t great and the chaotic situation in HK might fuel more tensions. So it seems to me the market is not fully rational at the moment and a lot of assumptions/bets are made on the vaccine potential and recovery speed. However the FactSet research shows that we have the highest P/E ratio...

TheMarketDog2

Looks like we are closing on a bat pattern (I agree it's a bit border line...) Over the past 50 years, S&P declines on average 4.7% over the 2 days preceding Memorial day. I expect traders to lock in gains today and avoid any risk on what could happen on Monday. It might confirm the pattern. Next week will coincide also with 2 weeks post re-opening and I wouldn't...

TheMarketDog2

So yesterday and the day before, we broke down bullish trend lines (blue lines) today we broke the 100H MA but bulls found support at 2925 (0.236 fib retracement) If it breakes the fib retracement, potential next levels to watch : 200H MA & 0.382 Fib retracement @ 2894 Then if we keep going down, probably monday 2868 at the intersection of the trend line...

TheMarketDog2

This has been indecisive since a few days. It could have been settled settled on Monday after the fake news of Moderna vaccine potential. The Bulls took the ascend and broke the 0.618 fib retracement resistance, the next one being 3140. But the bears are fiercely fighting back with the help of the 100-200 MA and psychological resistance of 3000 and of course of...

TheMarketDog2

We're repeating the harmonic pattern of yesterday on the SPX Futures... In theory should be bearish However, we broke through the descending trend line ... staying just below the 0.718 fibo retracement of yesterday this will be decided by some news as usual

TheMarketDog2 Updated 

In addition to yesterday’s post ( ) here is my medium-term view on the situation. I wish we were in a bull run… but we are only in a short-term bull inside a much bigger bear market which started in 2018 (yellow trend line I know that trend lines in a descending market must be drawn on the highs, but not possible due to the megaphone pattern) – note also the...

TheMarketDog2

...with a meaningful divergence...

TheMarketDog2 Updated 

If you're being pragmatic and consider a zone as a resistance rather than a precise number, we have touched 12 times (before yesterday) the 3000 area in the past 2 years. The S&P500 succeeded only one time to go above it. Can this mirage created by Trump and Powell lift the SPX higher? I have short position not to speculate but for hedging. However I think that...

TheMarketDog2

massive divergence on the RSI - monthly chart. It's difficult to look past that. The last divergence I saw like this was on the S&P500 mid feb. I wouldn't be surprised if we have a ATH, below 10 000 which will be a very difficult psychological resistance to breach. From macro perspective, it make sense that the nasdaq which is is heavy tech stock index is...