S&P500 INDEX (US500): Bearish Pattern & Pullback
S&P500 Index formed a head and shoulders pattern on a daily time frame,
trading in a bullish trend.
The breakout of the neckline of the pattern signifies the local exhaustion of the
buyers and highly probable coming correctional movement.
I expect a bearish movement at least to 4465
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Indexes
Continental CON Long term bullish cycleOur probability indicator has observed Long Term BOS (Break-of-Structure) on Daily TF.
Essentially what that means is that we closing in on bearish cycle for XETR:CON and new bullish leg is forming for longterm continuation of new bullish cycle.
We expect further bearish correction to 68.30 - 64.80 zone ( Current Inverse H&S pattern support zone ) where conditions for perfect LONG entry occur.
Take-Profit should be set within High resistance zone 114.50 - 139.30
Dow Jones Index (US30): Potential Bearish Movement Explained
Dow Jones is currently ranging.
The market is stuck within a wide intraday range.
Testing the upper boundary of the range, the market was rejected heavily
and the price broke and closed below a support line of a rising channel.
We see its retest now.
I expect a bearish continuation to the support of the range - 35300
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MarketBreakdown | Dollar Index, USDCAD, US30 Index, GBPJPY
Here are the updates & outlook for multiple instruments in my watchlist.
1️⃣ Dollar Index (DXY) daily time frame 💲
After a test of a key daily structure resistance, we see a positive bearish reaction from that.
It looks like the Index will keep retracing to lower levels.
2️⃣USDCAD daily time frame 🇺🇸🇨🇦
The market is currently approaching the neckline of an ascending triangle formation.
Following the local weakness of a greenback, the pair may drop one more time from
the underline horizontal line to a rising trend lien.
3️⃣ US30 Index weekly time frame
The index reached a key weekly structure resistance.
Strong rejection on a daily time frame signifies a local overbought state of the market.
I will expect a pullback from the underlined level.
4️⃣ GBPJPY daily time frame 🇬🇧 🇯🇵
The pair successfully violated a key daily horizontal structure support.
The broken structure turned into a resistance now.
The market will most likely keep falling to lower levels soon.
Do you agree with my market breakdown?
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Dow Jones Index (US30) Technical Outlook Ahead of FED
US30 Index is currently trading on a key daily structure resistance.
The market is consolidating on 4H time frame,
forming a head and shoulders pattern.
If the price breaks and closes below its neckline (35330 level),
I will expect a bearish continuation, at least to a support line of an expanding wedge pattern.
Bearish breakout of the support of the wedge, will push the Index even lower.
Alternatively, a bullish breakout of the underlined blue structure on a daily will be a strong
bullish signal.
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Dollar Index (DXY): Important Key Levels to Watch 💵
Here is my latest structure analysis for Dollar Index.
Resistance 1: 101.00 - 101.2 area
Resistance 2: 101.90 - 102.05 area
Resistance 3: 102.73 - 102.95 area
Resistance 4: 103.34 - 103.57 area
Support 1: 99.40 - 99.75 area
Consider these structures for pullback/breakout trading.
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Dollar Index (DXY): Update & Time to Grow 💵
Update for Dollar Index.
As you know, at the beginning of the week, I shared a very bullish forecast for the Greenback.
After a strong bearish wave, the market started to consolidate within a horizontal range.
The resistance of the range was finally broken and we see a position bullish reaction
to that after its retest.
I expect growth now.
Goal - 100.73
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Dollar Index (DXY): Oversold Market & Time For Pullback 💵
After the CPI report this week, Dollar Index dropped rapidly.
Ahead, I see a confluence zone based on a completion point of a harmonic abcd pattern
and a horizontal historical key level.
From the underlined blue area, I will expect a bullish movement at least to 100.58 level.
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Nasdaq Index (US100): More Growth is Ahead
NASDAQ Index broke and closed above a neckline of a cup and handle pattern
on a daily, following the yesterday's CPI report.
Taking into consideration, that the index is trading in a strong bullish trend,
that violation will most likely trigger a strong bullish wave.
I will expect growth to 15600.
For entries, consider an occasional retest of a broken neckline.
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NASDAQ Index (US100): Bullish Rally is Comming
Today's CPI report is very negative for the Greenback.
Gold, major forex pairs and indexes started to grow rapidly.
US100 index formed a cup & handle pattern on a daily time frame.
The market is currently testing its neckline.
If a daily candle closes above that,
probabilities will be high, that the growth will continue.
Next goal will be 15600
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MarketBreakdown | Dollar Index, USDCHF, S&P500 Index, AUDJPY
Here are the updates & outlook for multiple instruments in my watchlist.
1️⃣ Dollar Index (DXY) daily time frame 💲
The Index broke and closed above a resistance line of a falling expanding wedge pattern.
It was retested on Friday.
Probabilities are high, that a bullish movement will initiate from a broken trend line soon.
2️⃣USDCHF daily time frame 🇺🇸🇨🇭
The pair keeps consolidating. The market is stuck within a horizontal range.
For now, the plan is to wait for a breakout of one of its boundaries.
A bearish breakout of the support of the range will trigger a strong selloff,
while a bullish breakout will be an important bullish signal.
3️⃣ S&P500 Index (SPY) daily time frame 💲
The market is currently testing a local daily high.
If the price violates and closes above that, it will be a strong bullish signal.
A bullish continuation will be expected then.
4️⃣ AUDJPY daily time frame 🇦🇺🇯🇵
The pair is trading in a long-term bullish trend.
After the price set the last high, a correctional movement started.
The pair formed a falling wedge pattern.
Its resistance was broken last week.
I believe that a trend-following movement will initiate soon.
Do you agree with my market breakdown?
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Dollar Index (DXY): Very Bullish Pattern 💵
Dollar Index broke and closed above a resistance line of an expanding wedge pattern this week.
I believe that probabilities will be high, that we will see a bullish movement from that next week.
After a retest of a broken trend line, a bullish continuation will be expected to 103.6
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US100 Index (NASDAQ): Bullish Outlook Explained
On the today's live stream, we discussed US100 Index.
The market started a correctional movement after it set a new higher high, respecting 15280 level.
The price was trading with a bullish flag pattern.
The resistance of the flag was broken yesterday.
It will most likely trigger a bullish continuation.
Next goal - 15200
For entries, consider a broken resistance of the flag.
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📈 Explosive Setup on Nasdaq: Prepare for Skyrocketing Gains🐂🚀Exciting news for stock market enthusiasts! A compelling bullish setup has emerged on Nasdaq's chart, signaling a potential trend continuation. The price action has formed a robust support zone around the 14800 area, with multiple bounces indicating a significant accumulation of bullish orders. It's clear that the bulls are standing strong, ready to defend this critical level.
Adding to the positive outlook, the RSI has crossed above 50, accompanied by its moving average, serving as a powerful confirmation of the upward momentum. Furthermore, the 89 EMA has proven to be a reliable dynamic support, further bolstering the bullish sentiment.
With this confluence of support levels, we have an exciting opportunity on our hands to follow the trend. Buckle up as we target multiple take profits along the way: 15090, 15245, and a grand finale at 15500.
Don't forget to press the like button if you think this insight was helpful 🚀💪