Comparison between what I published and what happened this week
I believe it is good to review how functional our analysis is.
I want to share the multi-timeframe analysis I published last week for my Patrons/private subscribers, and let you judge about the accuracy of the contents!
NDX
Hourly Chart: Bearish Bat ( Bearish )
Daily Chart: Filling the Gap, Triple Doji means no enough energy to go further. (Neutral-Bearish)
Weekly Chart: Supported at the lower level of the regression channel (Neutral- Bullish )
Monthly Chart: Hanging Man ( Bearish )
Conclusion: After 2 bearish weeks, we had 2 bullish weeks but May ended with -1.26% performance, crossing below last month low is not a good sign..! Neutral to Bearish is the most probable scenario.
SPX
Hourly Chart: bearish bat ( Bearish )
Daily Chart: triple Doji and rejection at resistance level ( Bearish )
Weekly Chart: at the midline of the regression channel (Neutral)
Monthly Chart: dragonfly Doji after 3 fantastic months(Neutral-Bearish)
Conclusion: Neutral-Bearish is the most probable case.
DJI
Hourly Chart: bearish bat ( Bearish )
Daily Chart: triple Doji and rejection at resistance level ( Bearish )
Weekly Chart: at the midline of the regression channel (Neutral)
Monthly Chart: we had 4 positive months in a row but in the last 3 months the energy to go up further became less and less (Neutral-Bearish)
Conclusion: Neutral-Bearish is the most probable scenario.
RUT
The Russell 2000 index , created in 1984 by the Frank Russell Company, is comprised of 2,000 small-capitalization companies.
The index is frequently used as a benchmark for measuring the performance of small-cap mutual funds.
Many investors see its breadth as giving it an edge over narrower indexes of small-cap stocks.
In the past 2 weeks, RUT 2000 experienced a +7.3% gain.
As II previously said, this recent rally would not be considered a bullish market because of the low trading volume, but it is a part of a complex correction! I believe this situation could last for the next 1-2 months.
Most probable scenario:
A: If we see lower money flow: Bearish breakout (I think this is the most likely to happen)
B: If we see an increase in money flow: Bullish breakout ( If 6 trillion dollar bill pass fully, this could be the case)
Some People think I publish my post to bait people to subscribe to my servises!
I challenge them to publish their own analysis and next week we will review whose work has a higher rate of accuracy!
I want to share the multi-timeframe analysis I published last week for my Patrons/private subscribers, and let you judge about the accuracy of the contents!
NDXHourly Chart: Bearish Bat ( Bearish )
Daily Chart: Filling the Gap, Triple Doji means no enough energy to go further. (Neutral-Bearish)
Weekly Chart: Supported at the lower level of the regression channel (Neutral- Bullish )
Monthly Chart: Hanging Man ( Bearish )
Conclusion: After 2 bearish weeks, we had 2 bullish weeks but May ended with -1.26% performance, crossing below last month low is not a good sign..! Neutral to Bearish is the most probable scenario.
SPXHourly Chart: bearish bat ( Bearish )
Daily Chart: triple Doji and rejection at resistance level ( Bearish )
Weekly Chart: at the midline of the regression channel (Neutral)
Monthly Chart: dragonfly Doji after 3 fantastic months(Neutral-Bearish)
Conclusion: Neutral-Bearish is the most probable case.
DJIHourly Chart: bearish bat ( Bearish )
Daily Chart: triple Doji and rejection at resistance level ( Bearish )
Weekly Chart: at the midline of the regression channel (Neutral)
Monthly Chart: we had 4 positive months in a row but in the last 3 months the energy to go up further became less and less (Neutral-Bearish)
Conclusion: Neutral-Bearish is the most probable scenario.
RUTThe Russell 2000 index , created in 1984 by the Frank Russell Company, is comprised of 2,000 small-capitalization companies.
The index is frequently used as a benchmark for measuring the performance of small-cap mutual funds.
Many investors see its breadth as giving it an edge over narrower indexes of small-cap stocks.
In the past 2 weeks, RUT 2000 experienced a +7.3% gain.
As II previously said, this recent rally would not be considered a bullish market because of the low trading volume, but it is a part of a complex correction! I believe this situation could last for the next 1-2 months.
Most probable scenario:
A: If we see lower money flow: Bearish breakout (I think this is the most likely to happen)
B: If we see an increase in money flow: Bullish breakout ( If 6 trillion dollar bill pass fully, this could be the case)
Some People think I publish my post to bait people to subscribe to my servises!
I challenge them to publish their own analysis and next week we will review whose work has a higher rate of accuracy!
Use the following link to access trading ideas: patreon.com/SniperTraderStocks?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink
Related publications
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.
Use the following link to access trading ideas: patreon.com/SniperTraderStocks?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink
Related publications
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.