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Recurring consolidation 4H patterns on S&P before a bullish leg?The current sideways pattern on 4H (ADX neutral = 20.362) is seen two times more in the previous month and always resulted in a bullish spike near 2,790 before declining sharply to or even below 2,650. The critical day is tomorrow. If 2,745 breaks then the pattern should repeat it self backed up by very bullish 1D RSI = 59.474, Highs/Lows = 13.3750, MACD = 16.130). Otherwise, we have to wait for 2,700 to break, in order to short.
SP:SPXLong
by InvestingScope
Black Monday for S&P 500 or coming close to Black Tuesday While big investors start to jump out of the train they kick off a bearish move... Why? The answer is harder than you think, but at the same time it has logical decision. Since some months ago I shared with some friends about this risk, but the market just went higher over and over. You know I like to apply maths to my trading, but at the same time history, actually economy is a social science, so as history repeats itself economy do as well. Watch out, I'm not talking about will happen tomorrow or next week, but is something to keep in mind... A crush could come pretty soon, because factors are more than one. 1. History 2. Currency War 3. War as the worst way we know 4. Real Correction 1. History: I already said history tends to repeat itself over and over. In 1928 everyone was very enthusiastic and even taxi drivers and shoeshine boys bought stocks without any preliminary knowledge, except by some conversations with Wall Street's people. Economy was growing to massive pace, but with an overpriced market. Calvin Coolidge as pro-business President, he went for Anti-regulation and TAX CUTS. Sounds familiar?. 2. Currency War: Currently happening. 3. War as the worst way we know: War is absolutely possible if Trump makes a mistake with North Korea, I hope not, but if definitely will hit American economy and with less budget for tax cuts, less money for government. 4. Real Correction: Real correction is based on cyclical economy, in my case I support the cyclical adjusted price earning ratio, which is coming higher from last 10 years. However, I love America and I hope to be wrong. Learn how to beat the market as Professional Trader with an ex insider! Have a good Trading Week! Cream Live Trading, Best Regards!
SP:SPXShort
by wildcreamlife
Looking for Short Entry Next Week S&P - Early Setup SignsThe week's 3 day pullback from the high of 2400 ended last night, when massive support came in at 2355. This drove the S&P up and out its downward channel breaking free at 2370. Heading for 2380 this is also a 50% retracement of its 2400/2355 range. I would like to see S&P test 2390 to initiate a short, with a view that 2400 is the all-time high as I've mentioned before. If it breaks below 2350 before then, consider shorting at this key support level. Long -term trend is up, but rapidly losing momentum so this is an aggressive long-term short entry (but a passive short-term short entry).
OANDA:SPX500USD
by MVedra