SP500 setting up for next leg upHi there,
We just completed 5 waves down, now we are changing the trend short term for the upside,
Price is inside a bullish triangle correction waiting for next leg up, up until 4300 possible
Add at spikes down longs to the target 4300, good luck
Spx500forecast
SPX quick update - Main closing support is 3820Just got time to do an update.
Very important to close above 3820 today, otherwise we will be on the way to my 3730-60 zone, 3750 will become the next target.
If we close below 3820 today, I will short any rip and do some lotto puts.
On the other hand closing above 3820 will get me long for tomorrow
Broke 3820 already, could be an ugly close
SPX still pointing to 3980 zone to hitSPX can retrace a bit tomorrow, 3810-30 should hold.
Looking for a rally up to 3960-90 zone from there.
C&H possibility is still alive!
Holding 3830-45 will be bullishI think the move up is not over yet, needs to hold 3830-45 (45 is the gap fill zone), below will get us down to test 3730-60 zone again.
3730 is the main support at the moment.
All my resistance numbers from July 7th post are active! Please note that the C&H formation is still out there and it needs to get above 3945SPX to trigger the rally to 4225+
There is also a possible W formation in play with the right V low to hit my main target 3555-50 with a possible stretch to 3500. So quite hard place to be swing long or short. day trade is the answer for now. There is a great long setup is coming soon for the big rally in Aug. Ideally of my target zone.
Thinking of today's low to hold and rally up into mid week before a good size sell off down to 3730-60 at min.
Im traveling today/tomorrow, wont be on much to update.
possible C&H targets 4240Its a very deep C&H but still can be valid. NQ and ES have a better looking formation.
All we need here is to get above 3955SPX and then we are off the races.
Its a long way up, resistance levels are:
- 3913-15
- 3965-82
- 4075
S&P500possible short on spx, strong trend to the downside & we broke structure and retested 1hr ob. target next Support
SPX - Its all about closing above 3838-40, otherwise down3838-40 is the dividing line for today, failing closing above it will get us down to test new lows.
The markets are weak with not being able to close the highs for several days, a warning sign
SPX looking for 3720-30 zone test and hold or double bottom hereLooking for either a double bottom here or a 3720-30 test
SPX longer term updateThis is a quick update with levels of importance.
I will update in more detail those who are on my email list, cant do it all.
So
I think we will see a really this week and I have 2 targets - 3880 and 3960-90SPX
Both are good for the lower lows to come sometime mid of the month, ideal bottom target is July 14-18th.
The top in 3960-90 zone actually better fit with expected by me 3500 test.
3500 is a very important level and failure of that level will get us to 3200 very quickly.
Off that expected low, Im expecting a good size rally, maybe a month or month an half (into end of Aug) all the way to 4300 and maybe even 4425SPX.
From there we will see either 3200 or 2900-2800 (depends on the July bottom 3500 and 3200 respectfully) sometime in Oct.
That low alone will be a one big A wave of the correction and the bigger B wave will go up into Jan and final low might come in Mar of 2023, unless its really extended and we wont see the low till 2024. But its too far out to speculate at this point.
So my this week trading plan is to exit longs at 3880 and it taken out re-enter to ride to 3960-90 zone and then I will be naked short for the trip down to 3500 zone.
If we lucky to see 3750-60 tomorrow, then I will be long for the trip to 3880 at min.
SP500Weekly TF is trying to turn bullish and make the C wave bottom of the minor 4th wave and could be starting the 5th wave to the fib extension target 5430 and probably over shoot.
SPX must close above 3800 for tomorrow to continue upWatching the close here.
Its really must close above yesterday's lows, above 3801SPX for tomorrow to continue this move.
Failing closing above 3800 wont be good going into EOW tomorrow, below 3780 will be bearish for tomorrow's open imo
Must save the day with EOD squeeze. Closing above 3825 will be perfect for tomorrow's continuation
SPX is setting up for a squeeze into 4050SPX zone of am lowsSo far so good from my yesterday's update. We should test 3760SPX (already did on the ES), with an ideal stretch to 3735 in am.
3725-35 is a must hold for today imo, otherwise it opens a door to 3662SPX, which I'm not in favor to test just yet.
Looking to exit remaining short at 3755ES from yesterday's close and start layering in with longs for a potential 200-250 trip into the 4050 zone
S&P500Possible short , after a bos and pullback to th 1hr ob, & we also have support turned into Resistance on the level. Sl above ob and targeting the lows or 1hr ob
SPX not a bullish looking to my eyesThis is not a bullish close to my eyes, the whole day was just a consolidation.
The only good thing I see is holding 3800, so if we gap below 3799 overnight, then we will see 3760 next. Mid support is at 3780, low support is at 3734
Next support is not till 3662 and below!
Looking for that low to be bought and rally into Fri close.
Note this - closing below 3992 on monthly level will get us to 3200 next!!! So very important day tomorrow. And from where we are now its quite a distance to close above that number!
More pain is coming into the market next month! It seems that the rally will come after the July low. Im still looking at 4300+ but want 3500 to get hit first
P.S. There is a higher chance of seeing 3662SPX then 3992SPX, we are really at the no mans land now, pick you side 50/50 here. I would prefer lower first and run to 4017-20SPX after.
Its all about gaping down below 3799 and gaping up above 3840SPX tomorrow
SPX setting a up a test of 3760, next is 35 for the EOM runIm back from my little trip. So far so good since my last update, we are going to test 3760 and ideally 35 today/tomorrow and then a run back to 4017-20 by the 4th-6th.
There is a chance we see 3500 sooner then later, so have to be very careful in sizing on any trade.
Im going to buy longs today starting from 3780 and 60 will add if we see 35
ES is at Bull/Bear lineES is at Bull/Bear line, hit 110 MA and 50% retracement. A real test of who is in charge is right here.
As well as ABC move up with perfect 100% extension hit on the SPX close.
Jumping over the 110MA and test from the above will be a good sign of continuation of this move.
There is also a possible fakeout to watch.
A perfect place for a pause of this move up and some retracement.
An ABC move up to 4017SPX or so is what Im looking for with A being done and we get to test 3730-40 zone before the continuation higher.
Ideally we see the whole move going into the 4th of July weekend!
Im slightly short as of close, kinda risky trade as this can just continue extending to 1.618
Will send a separate email with more charts to those who are on the email list.
Enjoy your weekend, lots of volatility is coming after the 28th, so prepare for huge moves both ways
SPX must close the gap or it will be very bearish imoSo far so good from yesterday's update, we gaped up and the longs must be very profitable to those who followed.
Must close the gap today or Monday, otherwise this could be a stop run and the target will be 3585-90SPX (fibs agree if we top here)
Otherwise another breakout on Monday would do it and the main resistance is at 3970-90SPX, which will be heavy shorted by me
Watching the close of the gap now, which is super close @ 3900.16
SPX bullish looking as well as IHS setupSPX is looking bullish and has the same structure as the ES with IHS setup
SPX500SPX500 now forming one more time Rising Wedge Pattern with Patterns forming its looking Bearish for now stay safe from CRYPTO
LAST 6 months SPX500 drop down (-21.06%) if this Index will reach (-29%) (-30%) i think BTC will drop 10000$-12000$
Comment Below if you agree with me ?
SPX - RSI Analysis Two periods can be observed on the RSI for SPX on this 3Monthly chart
A downward trend which correlates with a sideways move on the relative timeframe
And a small uptrend that correlates with sharper growth on the SPX, these begin within the green circle
These green circles show very comparative structures, however one is during an up period, while the current one is during a sideways trend period
Price will very likely continue through the up channel on this larger timeframe
