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Long SXP500 Till the End of March Beginning of April Short AfterThe big blue arrow is pointing at a key price level which happens to intersect with the intra-bearish turquoise dashed line and the intra-bullish green dashed line. The intra-bearish turquoise dashed line is the longer-term trend over the shorter-term bullish trend as shown by the green dashed line. There is a horizontal ray at this key Fibonacci level (where the big blue arrow is pointing) to illustrate that it is in tandem with heavy price-volume action, which is subsequently followed by more heavy price-volume action above this key level due to previous trading history. We are currently above a thin Ichimoku cloud, (and above the 200 sma on the daily chart) which is bullish and the ease of movement indicator (the bronze-green indicator at the very bottom of the chart) is turning positive which is bullish as well. When EOM (Ease of Movement Indicator) is positive, that means that prices have been closing higher than previous closes on an average of 14 days in this particular study. We are looking good above the 20 sma in the Bollinger cloud for the shorter-term bullish trend line. The 50 sma is the black line, which is showing the overall resistance. Once we break through this level we are on our way to the convergence of all of the trend lines in the upper chart and convergence of the negative and positive directional movement indicator as shown in the lower chart; the DMI (Directional Movement Indicator). Once the directional movement indicators converge we will be in bearish territory and follow through with the overall bearish trend as shown by the turquoise dashed trend line. Expect to see a bullish move in equities in the coming month, then a bearish follow through. Also, expect to see SPX500 to cross back down through the Ichimoku cloud in 3 weeks. A sine wave was plotted over the chart, which also converges with the rest of the key trend and price level lines. This sine wave is accurate from roughly 2016 forward. Enjoy and invest wisely!
FX:SPX500
by ChargingBull
2
S&P 500 Looking Bearish.............1. Bat Pattern completed on 3-Nov, Went Down After that but again bounced back. 2. Bearish Divergence in Daily, Weekly and Monthly Charts. 3. FED meeting in December, Consumer Confidence & GDP Data on 24-Nov Employment on 4 Dec, Stocks tend to fall 20 days Prior to FED meeting (Just an Observation). Scenario 1 - S&P will hit 20 Degree Slope @ 2100 and will Return (20-27 degree slope and 50-59 degree slope are very common in trend). Scenario 2 - S&P will Make New High of 2160 & will Crash.
FX:SPX500Short
by BrokeButBold
2
S&P 500 Historical ReviewAlright, I don't like to be that guy that always thinks that he's smarted than everyone else and likes to try to predict the next big market downturn. Nor do I like to be that guy that writes the previous sentence to feign humility all the while thinking he's doing God's work (Lloyd Blankfein). That being said, here's a chart with two distinct patterns that preceded a market crash. Make of it what you will. We see price wedges at the two preceding market tops with RSI and volume trending down while it is forming.
SP:SPXShort
by fearlessfury