SPX500 selloff PENDING to 3070 *history repeats itself* MID-LONG WHEN IN DOUBT, ZOOM OUT!
ON the SHORTSELL we're looking at possibility 1-2 (maybe even 3 ATHs on SPX500 index) to follow suit -- a consolidation in what is/will be a a continuation of this bullish priceaction we've been seeing; the same I've been calling for since the start of Q4 yet we are almost at the apex, the mountaintop is approaching which will *(presumably after the holidays)* lead to further bullish priceaction followed by a selloff treading us down toward the $3070.5 area, a bearish dump which should approach fast & furiously if the pink trendline from DEC '17 is any indication, we're seeing a repetition in priceaction that will ultimately lead to a retracement -- though keeping it on the EMA for you forex swing traders , SPX500 has had an UNDOUBTEDLY FANTASTIC RUN THE PAST 2-3 QUARTERS, FOR ALL OF 2019! yet all good things must come to an end.
Remember this publication is LONG so although the slope between the green TP line & current price seems miniscule, it could actually take a while (pointless to speculate timeframe) but >30D before it reaches that apex leading us to the selloff @ 3070.5
Great thing about stock predictions is that much less volatility == much more predictability == much less $ROI due to lower risk/low reward.
Like riding a bike with training wheels on flat terrain as opposed to riding a mountain bike on gear 10 up everest (forex trading wallst vs forex trading @coinmarketcal)
This could very well be fantastic news for $crypto priceaction as (much similar to all other commodities) it parallels precious metals, XAU, etc. as a means of FUD for those looking to liquidate assets in times of speculative uncertainty aka FUD. I'll leave it at that for now. Also, $BNB priceaction looking solid for entry (defer to linked publication below) but I digress.
Peace & Love.
Happy Holidays & New Years -- will follow up with daily publications (as promised) after the Holidays circa Jan 10-12th.
Disclaimer
Not financial Advise. Please invest wisely & always set stop-losses.
-@a1mTarabichi
Spx500forecast
S&P 500: Santa Claus RallyHello everybody!
PrimeXBT is here again with another technical analysis breakdown, and today we are taking a look at Standard and Poor's 500 Index.
News and Fundamental Analysis:
While the Asian markets are currently subdued, Wall Street is caught within a firm and unwavering uptrend.
The S&P 500 hit a sixth consecutive high on Thursday — its longest streak since January 2018 — and it closed at a record high along with the Nasdaq and the Dow Jones.
On the other hand, investors still do not understand what is included in the “Phase 1” of the trade agreement between China and the United States.
Overall, this is a worrying sign that the US economy may be slowing down again at a time when the Fed has stopped its monetary policy softening.
It should be noted that such signals act as a leading indicator of business cycles, and therefore market players usually pay close attention to them, but not now.
Technical Analysis:
Currently, SPX is hitting strong resistance that’s coming from 1.618% Fibonacci — which is a resistance level.
The price action combined with the Relative Strength Index is staying strong, but BTC has formed a bearish divergence, which often indicates that a trend reversal is forming from bullish to bearish, and a downtrend or valuation adjustment could soon follow.
Such price action was seen in May of 2015 .
Once the price reaches the resistance level, a rejection could cause a fall to 1.272% Fibonacci which is our support level.
Support level: 3100
Resistance level: 3300
Day's range: 3192.3 — 3205.5
Be careful though, don't forget about capital & risk management.
Keep an eye out for more PrimeXBT trading signals for SPX and other assets.
Potential S&P 500 ScenarioIt's been a while since I shared anything like this... most of the last few things were experimental historical models...
This is all based in Fibonacci, both price and time... this would have us peaking at about 3450 around late September 2020...
Though I don't have the count posted with it, it is based in Elliott Wave as well...
The EW concept here is an extended wave 1, with 3 being 0.786 of 1 and 5 being 0.786 of 3 - which leads to waves 3+5 equaling wave 1 (typical when 1 is extended)...
Just thought I'd share what I was looking at
SPX500: Further Upside Expected - RSI Shows Strong Bull MomentumHi Traders,
I was initially expecting price to form an ending diagonal, thereby slowing down the bull trend for downside. However the ending diagonal is now invalid because price has slightly broken out of the structure in the past week. What's more is that we have no divergence on the RSI, and this indicates further upside.
Therefore, we can keep buying the pullbacks until price shows signs of slowing down.
Regards,
Wave Theorist
This is why the SPX is overdue for at least a 2.50% pullbackThe equity markets in the US have been moving really well through highs like its nobody's business, however as they continuously progress the moves get shorter and the pullbacks non-existent. Recent a 1.5-2 year wedge in formation was broken to the upside which indicates a bull trend continuation. Usually, the pop above the broken resistance will revert at least temporarily to the broken level before moving higher. This isn't a crash and recession call to all-time lows rather an opportunity to identify a potential retrace before a larger pop.
The facts are, the volume on this whole break higher has been terribly low, no one wants to buy a market at all-time highs and no one wants to sell because they want more profit.
Its been 2 months with just 1 red week and that red week was insignificant. The pullback brings the price down to the wedge break and previous highs at least 2.50% lower than the price right now. From there, there will be 2 catalysts that bring price higher.
1. A lot of big money is waiting for an "in" on the long side of the market and when deemed cheap enough will bid up the market by strong buying.
2. The Fed is still pumping A LOT of money into the economy at abysmally low rates.
SPX Breaking record for broken recordsI thought I’d include a little oped and some political analysis seeing as how that is part of my expertise & biggest passions.
This publication was intended to be made at the start of the market open but I got wrapped up in this circus called life; C’est La Vie.
The SPX 500 index is shattering all analysts expectations as Trump did say we would ”Win BIGLY!...winning so often that we‘d get tired of winning!” , and in doing so while both hands tied behind his back is a PHENOMENAL (and truly ironic; in the sense that they want to impeach him.) ahead of the systemic breakdown of the deep state.
I truly detest that conspiratorial connotations attached to that entity, what else do you call a cabal of unelected officials (mostly Obama holdovers) in the highest levels and upper echelons or our government literally conspiring with the legacy media in cahoots with big tech and the propaganda engine that is:
Jeff squared (Zucker/Bezos) & lets not forget to give a shoutout to
Media Matters
Tom Steyer for letting their hatred of one New York businessman/real estate tycoon be substantially greater than their love or our constitutional democratic republic—
-as the slow moving coup commences to unseat a duly elected official , WallSt once again slaps Adam “Schifty” Schiff & Nancy “Powerless” Pelosi right across the race with the metaphorical equivalent of political chess mate with milestone after historic achievement after milestone after historic achievement..
•.Kim summit
• Energy sufficiency
• >2 Dozen NASDAQ ATHs
• ROARING economy in an otherwise unsettled and anxious; polarized social environment despite 401(K)s and wage growth
• Not to mention historic unemployment and
• Only President to fulfill every campaign promise in modern history..
• Defeated caliphate and Baghdadi
The list could go on... I’ll include a more in depth, meticulously written oped when I get on my PC (yes I’m on my mobile phone right now) including and especially pertaining to the modern history from the start of the postmodern era and why it is quintessential for traders to understand modern history (From post World War II era 1945 is a solid place to start) and how it is literally The combination of the series of events that took place Between 1939 to 1945 where America was ranked 17 out of 17 in terms of military my versus just six short years later leaving 2 empires and Europe in ashes as the Phoenix and Not only military but economic powerhouse has been us ever since, a fact l I think is often overlooked/undermined (our economic leadership and not just military)
Now with an unstoppable economic track record; SPX is clearly flourishing.
When all is said and done history will remember President Trump has all of the most consequential POTUS in history...believe me I was never a fan (at first) however I am a patriotic objective and pragmatic individual (unlike our elected officials) and when I see something that is good for the nation, regardless of the uncalibrated moral compass of the POTUS in question — he is still our commander-in-chief and it’s funny because i travel very frequently and often hear dnc hacksn in the legacy media say that the world is laughing at us because of his behavior; from my experience this is a falsehood....
Most of the people that I talk to would wish they had a president as fervently dedicated to putting nationalistic policy agendas in motion—- “ America First” and their nations respect his unapologetic, magnanimous persona.... but I digress.
I will update more later...
In the meantime I will proceed with more signals! I have been slacking as of late and for that I am double sorry.
Follow / like / share / subscribe if you want to hear more from me about Political science and consumer based sociology, modern history and current events.
@a1mTarabichi
I apologize for the almost 4 H late publication!!
You know what they say...
Better late than never but never late is better..
SPY: Intraday Timeframe Analysis and Bearish Bias.Conclusion for today’s SPY analysis: A break below ~284.93 implies continuation of bearish trend.
The 1 hour timeframe of the S&P 500’s ETF (SPY) is presented in today’s analysis with main focus placed on chart patterns that are currently active.The uptrend in the SPY from its December 24, 2018 low to its July 29 peak has been followed ever since by sideways market action.
Evidence of the ranging environment is provided by the horizontal blue lines that capture the meandering price action in the SPY since July 26, 2019.Besides, a wedge or diagonal chart pattern is also shown for the SPY as the alternative chart pattern that is active. October 2, 2019 saw price close outside the lower boundary of the wedge (i.e. confirmation) that suggests lower price to follow.
Meanwhile, the breakout below the lower boundary is still contained inside of the ranging environment that has lasted over 2 months. A rectangle top formation would be appropriate to describe the sideways movement which opens the possibility for the SPY to reach its lower boundary (i.e. ~282) as a minimum expectation.
Also plotted on the 1 hour timeframe chart is the 200 moving average. A retracement to the average and lack of a price close above it also carries bearish consequences for the SPY.
Price breaking below ~284 and also the lower boundary of the rectangle top formation could see price return to the origin of the wedge at ~273
S&P 500: What will a recession be like if it comes?I'm going a little crazy now. That's the long-long-long... term trading plan from today's point of view.
Pure speculation, nobody can really predict the future, but such a course of an upcoming recession - if one should actually come - seems most likely to me.
#SP500 INDEX, On the way to breaking an all-time record?We have had Unconfirmed Double Top for the past few months.
Very bullish trend.
The Sp500 is on the way to test resistance at 3032 (an all-time record).
You can still buy and see that the sp500 crosses the resistance if the failure fails then it is worth thinking about a re-route.
Target: $ 3100