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DJIA showing technical strengthThe Dow is at a technical resistance level with a strong support level beneath the most recent run. When technical lines are very precise, it means most of the trading is technical, from short-term professional traders or longer-term fundamentalists with technical backgrounds. When the smart money is trading, it tends to make the trend more sustainable. At any time, this and the other major indexes may shift into a sideways trend for a while. Minor corrections are normal and necessary to sustain an overall uptrend. But the run out of the bottom has been solid.
DJ:DJI
by MarthaStokesCMT-TechniTrader
S&P500 Index (SPY) Key Level Ahead! Your Plan: 📈 S&P500 is approaching a key daily structure resistance. To catch a bearish move from that watch a rising wedge pattern on 4H. Your trigger to short will be a bearish breakout of its support (4H candle close below), then the price will most likely drop at least to 4250 level. Alternatively, a bullish breakout of the underlined yellow area will trigger a bullish continuation. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
FX:SPX500Short
by VasilyTrader
5
Dow Jones (US30): Technical Outlook For Next Week Very important thing happened with US30 index on Friday: the price broke and closed above a key daily structure resistance. The broken structure turned into a key support now. This week, I will expect a bullish continuation. The next goal for buyers is 33250 - 33500 resistance. Analyzing the intraday perspective, I spotted a rising parallel channel. I assume that the market will keep growing within. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
ULong
by VasilyTrader
4
S&P500 Index (SPY) Time to Grow 📈 This morning on a live stream with my students, we spotted a nice trading setup on S&P500 index: the market broke and closed above a key daily level. Retesting that structure, the price formed a double bottom formation on that. The price has just broken its neckline. I expect a bullish continuation now. Initial target - 4256 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
FX:SPX500Long
by VasilyTrader
5
S&P500 Index: Key Levels to Watch Next Week 📈 Hey traders, As I predicted, SPY nicely bounced on Friday. Now the price is heading towards the next daily resistance. Here are the key levels for you to watch next week: Resistance 1: 4290 - 4400 area. Resistance 2: 4500 - 4515 area. Resistance 3: 4609 - 4639 area. Support 1: 4150 - 4200 area. Support 2: 4075 - 4100 area. Support 3: 3900 - 3940 area. Consider these structure for pullback/breakout trading. Good luck next week! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
FX:SPX500Short
by VasilyTrader
8
S&P500 Index (SPY) Your Trading Plan For This Week 📈 S&P500 index is currently trading on a key daily structure resistance. On focus is a rising parallel channel on 4H. If the price breaks and closes below its support, chances will be high to see a bearish trend continuation. Initial target will be 4080 level. Alternatively, bullish breakout of the underlined yellow area will push the market higher. Next resistance will be 4290. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
FX:SPX500Short
by VasilyTrader
8
SPY in a downtrend? Where's Top? THE ANSWERS!Chart: SPY 2 week TF. The answers are both in the chart and below. SPOILER: If SPY rallies to $800, the downtrend is still valid. Interesting: A downtrend is defined as LOWER lows (LL) and LOWER highs (LH). Uptrend? as HL's and HH's. ** A single HIGHER high (HH) invalidates a downtrend trend in that TF. Trend is relative to TF and can be valid in one TF but invalid in another. A HH is established when the previous HH is superseded by a new candle's _____________ (fill in the blank). Answer: It's the new candles **close** that takes out a previous high, **not** its own high. Once that condition has been met the new High is promoted to the status of HH. Important: SPY's 1 week down trend was invalidated when the HH of $393.16 established on the 28th of June, 2022 was taken out by the close of $395.09 on Friday, July 18th, 2022. Chart: 2 week downtrend is still valid and the current 2W candle closes in 5 days. (8/12/22) The trend remains valid if that close is below the previous HH of $417.44 established on June 2nd 2022. Very important: *** The high of (this) week is not relevant to the 2W downtrend. Only the candle Close on Friday (8/12/22). Implication (not opinion): If SPY rallies to $420, the downtrend is still valid. If SPY rallies to $500, the downtrend is still valid. If SPY rallies to $600, the downtrend is still valid. If SPY rallies to $800, the downtrend is still valid. ... *as long as* price falls back to $417.44 by EOW. The point: ... idk. Ask me in 2 weeks. Where is "top"?: It's the price where the last bear goes long (aka covers). In other words when there is not a single buyer left. ** Starting with Homma Munehisa, (1755) The Fountain of Gold—The Three Monkey Record of Money. to the more contemporary: Al Brooks, (2009) "Trading Price Action Trends" .. and everyone in between.
AMEX:SPY
by gb50k
1
Nasdaq-100 Index (US100) Structure Analysis & Important Update So it turned out that US100 index managed to break and close above a key daily supply area. Now the broken structure turned into a strong support and the index will most likely keep growing to the next key level. Here are the key structures on focus: Resistance 1: 13500 - 13600 area. Resistance 2: 14200 - 14300 area. Resistance 3: 15100 - 15300 area. Support 1: 12500 - 12950 area. Support 2: 12050 - 12180 area. Support 3: 11040 - 11180 area. Consider these structure for pullback/breakout trading. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
CAPITALCOM:US100Long
by VasilyTrader
7
SPX ~6000 if this time is not differentThe SPX chart has 2 goals and one constraint: Demonstrate the VIX / VVIX ratio as an inverse momentum indicator for SPX. The VIX is risk adjusted" by VVIX and the ratio is more useful than VIX alone. "Useful" is similar to 'Statistical Power' and means less data required to identify smaller changes amidst higher volatility. Suggest that an ATH of SPX 6000 is "not unreasonable" considering the pattern and magnitude of prior large moves (corrections, bear markets, and very large dips) . . . Unless this time is different.
TVC:VIX
by gb50k
2
Dow Jones Index (US30): Key Levels to Watch Next Week 📈 Hey traders, Here is my latest structure analysis for Dow Jones. The index keeps growing, and here is the list of resistance to watch for occasional retracements: Resistance 1: 33270 - 33500 area. Resistance 2: 34000 - 34270 area. Resistance 3: 35280 - 35520 area. Consider the following supports for pullback trades: Support 1: 31390 - 31900 area. Support 2: Falling trend line. Support 3: 29670 - 30166 area. Good luck next week! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
ULong
by VasilyTrader
8
Nasdaq-100 Index (US100) Your Trading Plan For Today This morning with my students we spotted a very bearish setup on US100. The price reached a key daily structure. Analyzing the reaction of the price to that on lower time frames, we spotted a double top formation on 1H. Our confirmation to short is its neckline breakout. We need an hourly candle close below 12850. Target will be 12688. If the price sets a new high, the setup will be invalid. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
CAPITALCOM:US100Short
by VasilyTrader
5