✅S&P500: BUY THE DIP? KEY LEVELS TO WATCH🚀
✅S&P500 broke out of the rising channel
And after the retest fell back to the breakout low
Just as I predicted in my previous analysis
Now, I personally doubt that this is the end
Of the Great Covid Bullish Rally
So following the buy the dip strategy
That worked so well during the last 2 years
I've Identified two key levels
One at -6.5% and the other at -11.7% from the all time high
The latter is a great level both technically
And also because its an important round number
A gravity centre for the options trading
The -11.7% correction is also big enough
To convince many institutions that its safe to buy now
Thus,If you are looking to buy
Watch these levels closely!
LONG🚀
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ETF
Bitcoin’s strong recovery to $49,000Both moving averages(EMA 20 And SMA 50 ) on the 4-hour chart are sloping up and the RSI is near the overbought zone, indicating the path of least resistance is to the upside. The price has been consolidating in a tight range between $47,000 and $48,495 for some time.
If bulls thrust the price above $48,843, the pair could rise to the psychological mark at $50,000 and then challenge the stiff resistance at $52,920.
Conversely, if the price turns down and breaks below the 20-EMA, it will suggest that short-term traders are booking profits. The pair could then drop to $45,000 and later to the 50-SMA.
In any case, we have to consider the issue of ETF, which we will probably hear about in mid-October.
Whether with shaving or shedding or without bears and with bulls. We can expect bitcoin to reach $ 88,000 by early November.
Please do not base this on your sales. This is a personal analysis.
RUT (Russell 2000 ETF) - Resistance, Support, Trend - 09/05/21RUT has been consolidating between $2123.55 and $2348.03, for this year 2021.
Bullish scenario:
-RUT price breaks up above resistances to new all-time-highs.
-Resistance levels: $2348.03, $2392.66.
Bearish scenario:
-RUT price pulls back down to test supports below (horizontal and trendline supports).
-Support levels: $2240, $2123.55, $2060.54.
Note: On the Weekly chart, RUT price has always been consolidating sideways for 2021.
IXIC (Nasdaq ETF) - Resistance, Support, Trend - 09/05/21IXIC (Nasdaq ETF) has been uptrending since June 2021, on a daily chart.
Price has recently broken up above Trendline Support #1.
Bullish scenario:
-IXIC price continues to push up to new all-time-highs.
-Resistance levels: $15514.67, $15846.78, $16000.
Bearish scenario:
-IXIC price pulls back down to re-test both Trendline Support #1 and #2 over time.
-Support levels: $15193.63, $14994.37, $14656.72, $14457.45.
Note: On a weekly chart, price needs to close and hold above $14701 to maintain the uptrend.
DIA (Dow Jones Index ETF) - Support, Resistance, Trend -09/05/21DIA (Dow Jones Index ETF) has been uptrending in 2021, on daily and weekly charts.
However, price is currently consolidating between $352.18 and $355.83.
Bullish scenario:
-DIA price breaks up above resistance to establish a higher-high.
-Resistance levels: $355.83, $358.07, $361.59.
Bearish scenario:
-DIA price pulls back down to test support levels below.
-Support levels: $352.14, $348.46, $346.17.
Note: To maintain a weekly uptrend, DIA price needs to close and hold above $346.17.
JETS ETF - coming off the base Nice clean break of the base - travel sector looks to be gaining some momentum back. Loaded up some calls with a few short term targets between the mid 20s. Weekly looks good too.
The U.S. Global Jets ETF (JETS) provides investors access to the global airline industry, including airline operators and manufacturers from all over the world.
$STXRES ETF. Resources back into channel - WeeklyAfter a flat top formation, a drop followed and we are now back into the longer term upward channel. The bottom of this channel could be a point of interest, but until then it's maybe best to sit on the sidelines, or risk being run over by this train.
✅S&P500 RISING CHANNEL|LONG🚀
✅S&P500 is trading in a rising channel
And now we are seeing a nice little correction
I think that after the index retests the rising support
We will see the "buy the dip" mechanism kick in
And the price will make a move up
Continuing the bullish trend until the end of the year
LONG🚀
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VUKE Daily - Tomorrow LDT for juicy 46p diviTomorrow is the LDT for a 46p divi = 1.46% simple divi yield off current price. Also appears as though the ETF has formed a triple top - but as the saying goes "no such thing as a triple top". I am hoping we power through to resistance around 33. I had been averaging into my ISAs and SIPPs the for past few days in anticipation of the dividend and next leg higher.
JICPT| ARK Daily range bullish trade setup(ETF)Hello everyone. ARK innovation ETFs are those who are passionate about the future, believing that innovation is key to growth(I copy this from ARK website).
Personally, I use ETF a lot to construct my portfolio to diversify investment risks. More importantly, the fee is cheaper compared to thematic funds.
On the daily chart, I identified a range structure where price tends to move with top zone of 126.55-127.55 and bottom zone of 111-113 respectively. In the middle of the range, there is also a level that price may seek support($120).
So, if you're ARK fan, you can load some around $120 and lower zone of $113 to $113.
I'm a firm believer of innovation. What do you think?
Give me a like if you're with me about the entry level.
VDJP Daily - Testing all time highs Beautiful follow through following the break of the bull flag. Currently testing all time highs, but move has been aggressive as seen by the extension from the 20day SMA and overbought RSI. It is currently the largest allocation in my portfolio and I will look to take some partial profits here hoping we get a slight pullback for an accumulation.
VAPX Daily - Break out targets 23.35 initiallyWe have been keeping an eye on this potential continuation rectangle for a while. The break out of the downward channel is bullish and I will further add to my current holdings. There is resistance at 23.35, but above there we could see a significant break higher. But for now... taking it level by level
ACDC battery tech consolidation One of my favorite ETF's to trade on the ASX is the ACDC battery tech beast.
Its had a steady rise since the covid drop with over a 120% return so far, but we moved into a consolidation range with an upwards pressure since the start of the year.
We have had a few touches on either extremes of this range and im expecting it to break sooner rather than later.
Looking to add to my position if we get a chance around 91.50 again and then simply waiting for confirmation incase we get invalidation and drop through this HTF consolidation.
Bullish on the space for a while longer and the chart looks good for a push.
VDJP Weekly - Bull flag breakPatience has started to pay off. I have been averaging into this ETF for a while - especially when we saw the re-test of the inverse h&s neckline. The bull flag has finally broken higher and will target new all time highs - will hopefully see 31/32 region. Currently largest % holding in my portfolio and happy with current allocation.
MTUM Bullish!Good morning traders, today I have a chart and technical analysis of our favorite ETF, $MTUM!
I would like to preface this by stating all green lines represent supports as well as al red lines represent resistances
MTUM has had quite the significant first half of 2021, and I believe due to the following that we are in for more.
Recently, at the beginning of August, we broke from a several month long Ascending Triangle Pattern and retested our support this recent week, solidifying our breakout
The bottom-most parallel channel in green is our major support line, formed after the March '20 crash last year, and with MTUM being so near that support, I can't see any currently plotted resistances holding very long. Bulls are in full control it seems
We're seeing a bullish divergence on the MACD, unfortunately our RSI is looking to head into overbought territory, however I don't think this will effect us for long, as we're close to a resistance line
The Afghanistan Crisis caused a drop in the overall markets this prior week, and MTUM found support by the 50MA and rebounded swiftly.
Currently, we've formed into a short term ascending channel, I believe we'll break to the lower side of this and bounce off of our closest support and ride it until our major parallel channel support before taking off to new heights!
Best of luck, happy trading!
Spence