TA are expectations up to ~ March 6 based of avg downtrend duration for the last 4 drops.
Note the following
1) Monthly Trend : Bullish -- note the trend, support line (solid) and channel, resistance line (dashed)
2) Week Trend : Bearish-- note the lines, same as above, but red.
a break in trend = good chance of reversal.
a break in channel = strong movement
3) Break in the Monthly bullish trend, retouched and dropped back down as confirmation of new Bear movement
4) RSI @ 42 -> slightly bearish market on 2h 🪟
5) EMA for 9, 20, 50. Again, TA is 38 Bars. 9 crossed both 20 & 50 sharply, waiting for 20 to cross as well for better bearish confirmation
6) Supports @ 4060, 4010 (Key Supp for weekly), 3877, 3764 (Key supp for Monthly)
Anything can happen. Tuesday / Wednesday could be wild or just more consolidation
these last 2 weeks has been consolidation, so a blow can happen soon
Note the following
1) Monthly Trend : Bullish -- note the trend, support line (solid) and channel, resistance line (dashed)
2) Week Trend : Bearish-- note the lines, same as above, but red.
a break in trend = good chance of reversal.
a break in channel = strong movement
3) Break in the Monthly bullish trend, retouched and dropped back down as confirmation of new Bear movement
4) RSI @ 42 -> slightly bearish market on 2h 🪟
5) EMA for 9, 20, 50. Again, TA is 38 Bars. 9 crossed both 20 & 50 sharply, waiting for 20 to cross as well for better bearish confirmation
6) Supports @ 4060, 4010 (Key Supp for weekly), 3877, 3764 (Key supp for Monthly)
Anything can happen. Tuesday / Wednesday could be wild or just more consolidation
these last 2 weeks has been consolidation, so a blow can happen soon
Note
If you're looking for a real chaos trade, wait for next OpEx & a break of the 3764 key support. THAT will be death to SPX for the following monthNote
if that get's broke, then things will get very volatile, if BLS metric trends stay consistent (positive PCI, CPI, Bond yield, etc)I'm starting to believe that 🥐 guy has is eyes glued on that ^ which is why 50c trader put calls in for MAY** , he put them in now so he doesn't miss it if it happens early. But the expectation is for it to happen next month I would think
Note
I just noticed a mistake -- The chart published is using hourly, but the EMA & TA is 2h window based. The statement made about the EMA's in #5 are for 2h window. Open up yourself and change to see what i mentioned
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.