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Emini

Dog Days of Summer for S&P 500If we perform a fib retracement from the bottom of the 2009 crash to the 4800 top and the bottom of the 2020 crash to the 4800 top. Some of the retracements line up. We have already seen it bounce off the first alignment from just above the 3800 level. The bottom seems to be pointing to around 3200. It probably won't go there right away, as a slight bounce is likely from here to work off the oversold condition followed by the next leg down. If we hit the 3500 level I expect a strong bounce and fake bottom to be put in place. Do not be fooled or use leverage, slowly accumulate positions at these levels.
SP:SPXShort
by Lazy_Investing
SPX - SPX is due to drift lowerWe continue to be bearish on SPX. Because of that, we would like to set a new short-term price target for SPX at 4100 USD. We would also like to set a medium-term price target of 4000 USD. Technical analysis - daily time frame RSI and MACD are bearish. Stochastic oscillates in the bearish area; however, it points to the upside. DM+ and DM- are bearish. ADX reflects a strong downtrend. Overall, the daily time frame is bearish. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. ADX grows which is bearish. All this coincides with the condition observable in QQQ. Overall the weekly time frame is bearish. Illustration 1.01 Similarities in the condition of SPX and QQQ are detailed in the idea above. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPXShort
by Tradersweekly
5
S&P 500 Still in Downtrend The market touched the bottom of the down channel yesterday and turned around. From here the market will likely bounce, however, the gap above 4k was not closed so expect this to get filled after this countertrend bounce. The weaker the market, the more likely we will see 3600 area before this is over. Short-term = Expect a countertrend bounce to around the 4400 area. Medium-term = The trend is definitely down, look to short at key resistance levels. Long-term = Some stocks are already on sale (DIS, COIN) to name a few. As the market drops, look to build long-term positions in stocks at a discount.
CME_MINI:ES1!Short
by Lazy_Investing
1