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For my analysis for Tuesday's trading, I am anticipating a move down. The market failed to get back to 2088 yesterday and breathed more life into the sellers to take this lower. I am looking to see this test out the low 2050's. The MACD is in favor of the bears. The stochastic however is approaching oversold. The price pattern isn't too bad as it stands now. The...
For my analysis for today's trading day, I am anticipating a move up. The market has been sold off in a rather quick fashion and this caused the fast stochastic line to reach oversold quickly. During this market run, dips have been bought and this run has featured quite a few "V" shaped rallies. If it holds, it can get a chance to regain its lost ground but if...
The S&P 500 made a possible continuation signal from Wednesday's trading session. While it did close back above 2095, I am concerned about the candle it formed. This gives an edge to the sell side to continue its move lower. It may attempt to move to 2100 but that has a chance to be short lived.
The market has made a nice move upward from the triangle breakout. It has now moved to the top of the channel and is looking to make a test. The indicators are all overbought. The price pattern is fairly weak.With the VIX being low and the leading indicator (Russell 2000) also showing a signal of topping out, the odds are higher for this to test 2095.
On Sept 20th, we posted on our StockTwits about the formation of an Evening Star pattern. The Russell 2000 index managed to also form a death cross on the same day the Evening Star pattern was formed. This typically spells out danger for the future. As the indicators reach oversold territory, there is a chance buyers may bring it back up to the 200 day before this...
The $SPX formed an Evening star pattern when it created its rising wedge pattern. The pattern was then confirmed with a move lower the following day. The large green candle that formed after the confirmation candle was then sold off again. This is usually a signal that future rallies will be sold off. A chart pattern and a candle pattern have aligned to possibly...
We took a day off from doing our candle analysis but we are back! The market continues to surge from its low as it has done the prior 3 times. This one will be no different. We were wrong on our last two predictions because we were looking to see the market continue to sell off instead of reading the chart like we have been. You have to do your best to not allow...
Our last prediction was wrong. We predicted that today would close positive and near 1940. Instead, the $SPX closed negative and further away from 1940. It did test the 1940 resistance early and then proceeded to move downward and test 1930 support. Buyers came in and gave it a bounce from the support level and it closed around 1934. Our candle analysis predicts...
The $SPX continued to move up from its close on Friday as we predicted in our prior candle analysis. It tested the 1940 resistance and it was rejected. It did not fall far however and still closed positive for Monday's trading day. Because the market is still in oversold territory and combining our candle analysis, we predict the market will again close positive....
The $SPX closed from the low of the day. Our candle analysis predicts that the $SPX will close positive tomorrow. Today started off at the high of the day and quickly sold off leading to the sellers pushing the market lower. Towards the end of the day, it made a low of 1904 and closed at 1909. We predict that the $SPX will clear 1910 and attempt a run at 1920 tomorrow.
