Market could be a heightened version of the 2020 crash?Going into September with an RSI nearing 80 on the monthly, I think a pullback is imminent. And outside factors are not gonna help.
Marketcrash2021
The End Seems NearDivergence on the RSI 4 times! Usually after 3 there's no going back but sometimes with things like Bitcoin or apparently the Nasdaq, you can have more because of the FOMO.
We hit the 2.5-2.618 fib extension from the prior wave I cycle as shown.
I'm thinking we enter a complex wave 4 of larger cycle degree soon.
It's gonna be nasty and a lot of tech companies are gonna go bust.
But the bad money needs to be cleansed and the free market needs to decide who is allowed to stay in the game.
I'm looking for a 40-60% pullback. We will enter a bear market for the next year or two if this happens. I think we're nearly there.
I need a further breakdown of the RSI to confirm it, but if we keep selling off this week and it accelerates, remember this chart.
SPX 500 IS IT OVER??RSI DAILY MAKE IT OR BREAK IT mmmmm
Time Analysis: Weekly Chart suggesting the TOP to be placed today 9th April 2021 and hence drop to start from next week. Will it happen? Time will tell and will display more scenarios to look at maybe..
GOODLUCK!
🩸 🐖 "Bulls make money, bears make money, pigs get slaughtered"Hi guys after Friday rout there are new developments in stock market indicies. Last week price action on AMEX:DIA formed bearish reversal pattern buying climax above upper megaphone pattern line at the top of rising wedge. This rising wedge is 5th Elliot wave which is signaling trend will reverse soon.
As you can notice in chart last week realized volume was relatively big and volume week ago last week was rather small. Thats the signs that bears taking control significantly in recent days.
I expecting this week breakdown bellow megaphone upper line and begin forming corrective wave (a).
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Leave a comment that is helpful or encouraging. Let's master the markets together.
🏴☠️Market crash 2021 BIG UPDATE: Bull trap on SPY and more...Hi mates, i sharing my thoughs about markets from last week and my view for week ahead.
So there is little summary of last week:
Stocks AMEX:SPY and NASDAQ:QQQ had another up week and reach another all time high
President-elect Joe Biden promise another $2000 stimulus
COINBASE:BTCUSD soared to 40K and reach all time high
TVC:TNX rose above 1%
Labor market worsening, key economic data showed last week
COMEX:GC1! Sellof more than 4%
TVC:DXY bounce from support at 89.50 level
US Dollar Index - DXY
Dollar index created inverted Head & Shoulders reversal pattern in demand area and started boucing off the lows, supported by massive divergence on long term CCI
Volatility index - VIX
S&P 500 Volatility index is still well above 20 level from 2020 and its set up for another bounce from its demand zone on 19.50 level
10 Years Trasury Yield
Yield of 10-y Treasury pumping up momentum. Last week advanced more than 20% thats big move, compared several weeks ago
Next week we expecting some important economic numbers and events:
CPI and Core CPI
Beige Book
Unemployment Claims
Fed Chair Powell Speaks
Retail Sales and Core Retail Sales
Through next week i expect higher volatility will come. At friday AMEX:SPY created bull trap by candlestick pattern hanging man by piercing higher rising channel line supported by divergence on long term CCI. So i will play stocks very carefully next week for long side. We can observe some flow into Financial, Healthcare and Materials sector so these sectors could be a good play for next week.Expecting further rise of TVC:DXY and TVC:TNX so this could make some further pressure on commodities like COMEX:GC1! .
