long above 2105 short below 2080 at these stage spx is on a no go zone , on up side price action is sitting on big resistance around 2095 and a fib level a couple point above that and below it face as support and it quit a BIG one that have been defended for quit some time now but it will be very interesseting to see wich side it's going to actually go , on either side they are big target long side all time high short side around 1600 area would be kind of an ideal target for LONG time swing long !!
"sp500"
Monday SP500 trading planMonday's trading plan:
1. First short @ 2086 to 2088 ES, stop loss 2090ES or SPcash 15min candle closed above Resistance Area. TP1 2066 cash. TP2 2036 cash.
2. If first short stopped out, look for a long scalp to 2098.8 to 2113.8 cash, stop loss 2085 or under Resistance Area.
3. If 2110 touched again and not able to break, short @ 2110ES, stop loss new high(2116), TP 2088.
If plan 1 fills, there will be no plan 2 and 3.
2 possible scenarios for SP5001. 15min timeframe forecast.
Scenario 1:
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We are on waves starting from 2092, now on wave a end (or wave 4 end according to different count), based on the first count as shown in the chart, expect up during the night to retest high of 2105.25 ES(probably only reach 2103ES, the .214 level of wave a), then retrace to 2092.5 (.786 level of wave 1 low 2092 to wave 5 high 2111.4).
Scenario 2:
Second count, we are on wave 4 end, then wave 5 will create new highs up to 2116. Although it's unusual to break highs during the Globex session, we could postpone that to tomorrow.
2. Daily
Potential targets above are 2106.6, 2116.1, 2122(Resistance from May2015 high), and >2130.
SP approaching a possible topNew observation: Daily candles penetrated Bollinger band, if lack momentum, a retrace is probably.
I refrain to predict the exact top, my plan is to trade with tight stops on every possible support/resistance and lower timeframe fib levels.
Potential targets above are 2106.6, 2116.1, and >2130.
2101.1 and 2095.1 need a revisit tomorrow according to MEJT targets produced today.
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Looking for a touch of higher 2106 tomorrow and possibly some retrace, but WRT the bullish bias, it's still possible we take out today's high and continue the rally.
Could be our next 2 months sell tradeLooking the weekly chart, we see that the longer term move is downwards.
Also placing a band over the tops and the lows, we can see that the monthly pivots of April and March are still not hit.
counting candles between the earlier points, it can take about 8 weeks before it hits the lower line.
Lets cross fingers and simply wait for the ride.
Long Volatility for the upcoming whatever term. UVXY over $30It seems we're at the inflection point once again. Maybe a day or two out from SMAs and MACDs turning positive for UVXY, and these big spikes in block trades are usually a precursor it seems to market sell offs - big players taking profits likely.
I have multiple other charts that support this view with OnbalanceVol/Accum/distribution; potential slide in oil, resistance in gold and so on and so forth. Granted, only chart can be linked!
I expect UVXY to go well past $30 in the coming 1-2 weeks. This COULD change, and this MAY NOT be the actual bottom for UVXY, and I would hedge the position in both sides, but I'll be wary to add if indeed this is the next bottom, and it's a higher high, in regards to S.D. and True average price
SP500 End of Harmonic Bull Run - ShortShort with tight stop at 2051. 1st target for taking profit at around 1940.
SPX March 11th and forward, long term edition. This is a longer term idea based off charting done from 2008 until now, and where we expect to go from here.
For this interested, earlier today I did a shorter term outlook using daily candles, for those interested the link is: , or you can find it in my profile. Feedback and constructive criticism is always appreciated, happy trading!
Key Support Levels on the S%P 500 - Shorter TermThe S&P 500 has recently been stuck between 2100 and 1830, approximately. The median 1990 level has served as a key support/resistance level. Due to the long-term analysis I did, I think the S&P will soon break the 1830 level.
Key Support Levels on S&P 500 - Longer TermThe S&P 500 is getting quite close to the 50 MA, which has previously been an indicator of a recession. The closest major support level is around 1550, so that's where I think we're off to in the near future