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US500/ SPX H8: REVESAL BEARS: 4 000 points TOPS 5% PULLBACK (NEWUS500/ SPX H8: REVESAL BEARS: 4 000 points TOPS 5% PULLBACK (NEW) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage. Tagged as SHORT because short-term I expect more losses / 5% pullback off the highs. 🔸 Summary and potential trade setup ::: US500/ SPX H8 market overview/outlook ::: updated revised outlook ::: setup still valid as of today ::: closing in on the reversal level near 4 000 ::: this is top of the bullish channel ::: also VIX near critical reversal zone now ::: review my setup in VIX via link below ::: recommended strategy: SHORT after we MAX OUT ::: strong key S/R level at 4 000 points ::: 5% pullback warranted off the highs ::: initial TP BEARS is 3800 points in April 2021 ::: upside likely limited from 4 000 points 🔸 Supply/Demand Zones ::: N/A ::: N/A 🔸 Other noteworthy technicals/fundies ::: TD9 /Combo update: N/A ::: Sentiment short-term: BEARS/PULLBACK ::: Sentiment outlook mid-term: BEARS/PULLBACK RISK DISCLAIMER: Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
UShort
by ProjectSyndicate
14
SPY/DIA Volume DivergenceDivergence continues to build between buying volume and valuation in the combined SPY/DIA chart. I believe this indicates buyer fatigue in the sectors that have seen a bull run after the tech selloff. This, along with TNX jumps continuing to drive the IXIC down, could indicate imminent trouble in the general markets. It doesn't seem that the SPY/DIA can keep up enough to counter balance the drops in the IXIC to maintain overall market stability. If the TNX continues to rise and the IXIC continues to be driven down, I believe the SPY/DIA will eventually break the bullish trend and begin its own pullback, which could cascade into a full market correction or worse. If the TNX flattens out and stabilizes, I will be looking for the IXIC to double top, failing to break past its last peak, which will indicate that the market is not as strong as it has been. This could likely cause a rush of fear selling, causing a sharp decline, which would cause margin calls, with further downside. The SPY/DIA will most likely be dragged into this fear and downward momentum as they are still trading 17% above their last pre COVID support. This is further supported by the monthly IXIC indicating it being overbought on RSI and Stoch 14/3/3, along with the February candle forming a shooting star, and March forming a hanging man so far, both indicators of a bearish reversal. I will be looking to maintain liquidity past the week of 3/15, and planning on shorting the QQQ in the event of a double top as well as buying into UBT in the event of a full market correction or crash.
AMEX:SPYShort
by hobo4000
7
HD - Possible Swing OpportunityHD is currently at a strong R/S zone. If HD can hold/break above the $269 area price, we could be looking at a $275 PT. Things to look for other than confirming the support/resistance area: *in no specific order* 1) breaking levels with above average volume 2) overall market index strength 3) It's currently testing the 100 EMA as well which makes watching how it reacts at these levels that much more important before jumping in. 4) if stimmy does pump market all sectors could see an increase, but it may leave Dow stocks lagging a bit What are your thoughts on HD? Play, or Nay?
NYSE:HDLong
by Logical_Badger
SPY/DIALooks to be a divergence forming in the SPY/DIA chart between purchasing volume and valuation. Stoch is also approaching overbought but RSI is still within a good limit. Could indicate a coming pause in the cycling of the market after the recent upswing in value/non-tech companies. Could be a good time to get into some value companies or to check your charts for the same divergence and hedge or short if it makes sense. Similar divergence found on the daily SYF, CVX, and KHC daily charts. All three are also reaching overbought levels in either the Stoch 14/3/3, RSI or both.
AMEX:SPYShort
by hobo4000
DIA completed BAT pattern | A good long opportunityHi dear patrons, hope you are well and welcome to the new update on the DIA token. On the 12-hour chart, the price action of the DIA has completed the final leg of bullish BAT and entered the potential reversal zone. Possible profit and loss ratio: This trade has profit possibility of 18.5 % and the loss possibility is 3%. Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Long
by moon333
Bull-Bear Transition Year 2000Nasdaq (Nasdaq-100 ETF: QQQ) was a strong leader prior to topping out on March 9, 2000. This is very similar to today’s market with about 100% gains from February 2020 to February 2021 Dow (ETF: DIA) and S&P (ETF: SPY) lagged behind Nasdaq during the Nasdaq rally When Nasdaq reversed from the top to its first stage, Dow and S&P were still near the record-high area. Three-day rebound (04/05/2000-04/07/2000), which mapped to today’s condition, was to prepare the next sell-off wave Then, it was another 5-day strong selling (04/10/2000-04/14/2000). Notice Dow and S&P performed well during that time. It made sense to see money rotation from red-hot technology or bubble to safer stocks like financial, industrial, energy, material. Does it sound similar when you compare Tesla (TSLA) with JP-Morgan (JPM) today? The rest story is straightforward to see bull gave its position to bears in the next 12-15 months that Nasdaq lost -80% and Dow was down -40%.
AMEX:DIAShort
by marketfellow
VXX Showing Indices Are Likely To Head HigherVXX tried to push up for the 4th time on March 4th and put in a climax buy bar. Price broke below that climax buy bar yesterday and now price is set to head lower. Looks like it might go and try to test the low of January and February of last year around 13.75. This is good news for the indices as prices are more likely to head higher. Also, just read that a Deutsche Bank survey said that 25-34 year olds will be spending HALF of their new stimulus checks on stocks. Other age groups said they would allocate 35-45% of their check on stocks. Looks like we're going higher at the moment. New bars on the chart can change that probability so we'll see.
CBOE:VXXShort
by Steven7960
1