The key is whether DXY can find resistance around 102.034Hello?
Traders, welcome.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
(DXY chart)
The key is whether it can get resistance around 102.034 and drop.
----------------------------------------
(SPX500USD chart)
The HA-High indicator on the 1W chart is about to form at point 4478.4.
Therefore, it is important to be able to ascend with support near this point.
If not, you need to make sure you get support around 4419.8.
-------------------------------------------
(NAS100USD chart)
The HA-High indicator on the 1W chart is about to form at 15379.1.
Unlike the SPX500USD chart, NAS100USD is located below the HA-High indicator point of the 1W chart, which is about to be created, so it seems to fall more than expected.
So, the question is whether it can rise above 15379.1.
If not, you should check for support around 14710.6.
-------------------------------------------------- -------------------------------------------
** All descriptions are for reference only and do not guarantee profit or loss in investment.
** Even if you know other people's know-how, it takes a considerable period of time to make it your own.
** This is a chart created with my know-how.
---------------------------------
US SPX 500
SPX500USD Set To Grow! BUY!
My dear subscribers ,
SPX500USD looks like it will make a good move, and here are the details:
The instrument tests an important psychological level 4483.2
Bias - Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 4508.2
My Stop Loss - 4469.3
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
———————————
WISH YOU ALL LUCK
Much More Dangerous than The Dotcom Bubble According to the World Famous trader W.D. Gann, the ideal advancing angle in an uptrend is 45 Degrees. In other words, 45 Deg. is a perfect balance between supply and demand. However, even in the Dotcom Bubble, the trend angle was less steep than the current trend. This indicates a much more downward potential than the 2000s burst. Stay Safe!
SPX500USD Is Going Up! Buy!
Please, check our technical outlook for SPX500USD.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 4481.4.
Taking into consideration the structure & trend analysis, I believe that the market will reach 4535.6 level soon.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
Gold price today: slight increaseWorld gold price listed on Kitco is at 1,942 USD/ounce, up 8 USD/ounce compared to the early hours of yesterday morning. December gold futures last traded at $1,976.1 an ounce, up $7.3.
According to some market analysts, the gold market may be struggling to find traction as inflation remains a major concern and could force the US Federal Reserve (Fed) to continue raising prices. interest rates after summer.
Naeem Aslam, chief investment officer at Zaye Capital Markets, forecasts the gold market will continue to struggle as the latest data shows no clear clues as to the path of the next Fed tightening. The market will have to wait for inflation data to be released next week. He said that traders can stay on the sidelines until there are signs that inflation is trending down significantly.
How does the world gold price change today?The global price of gold slightly dropped to $1,936 per ounce and has remained low for the past three weeks. Despite the US credit rating downgrade, the dollar continues to trade at its highest level in the past month, which has contributed to the decline in gold prices.
Additionally, the 10-year US Treasury bond yield reached a nine-month high at 4.1360%. On August 3, the Bank of England raised interest rates by 25 basis points, reaching a 15-year high.
Investors are currently awaiting the release of the US jobs report, which could impact the Federal Reserve's policy stance. Ryan McKay, a commodity strategist at TD Securities, emphasizes the significance of this data, particularly given the recent positive economic indicators in the US, which have influenced market sentiment and the possibility of the Fed maintaining higher interest rates for a longer period.
The key is whether DXY can fall below 102.034Hello?
Traders, welcome.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
(DXY chart)
It rose above 102.034 over the volatility period.
So, on the big picture, we need to see which way it deviated from the 102.034-105.873 range.
As a small picture, we need to see which way it deviates from the 102.034-103.494 interval.
For the investment market to be active, it needs to move sideways below 102.034.
(SPX500USD chart)
If it holds above 4419.8, it is expected to renew the new high (ATH).
The next volatility period is around August 15-22.
(NAS100USD chart)
If it holds above 15090.3, it is expected to renew the new high (ATH).
The next period of volatility is around August 17th.
-------------------------------------------------- -------------------------------------------
** All descriptions are for reference only and do not guarantee profit or loss in investment.
** Even if you know other people's know-how, it takes a considerable period of time to make it your own.
** This is a chart created with my know-how.
---------------------------------
SPX Index (US SP500). Important dates.Time frame 1 day. Logarithm. Secondary trend. Expanding triangle. Reversal zone. Key levels are shown.
Dates marked the key time zones of potential events that can greatly affect the markets and the index of the American economy in the first place.
The end of October and the beginning of November will most likely be unnecessarily wavy in the markets. If so, don't miss your chance to “accidentally get rich”.
This is how it looks on a line chart.
MACRO MONDAY 5 - Major Market Index XMINYSE Arca Major Market Index - TVC:XMI
The XMI Index is a chart that gets overlooked by many but it is still monitored by OG legacy traders. I recently came across the XMI being utilized by Sentiment Trader in one of their reports, considering that Sentiment Trader provide some of the best metrics in the business, their coverage of the XMI peaked my interest.
The XMI is a price weighted index consisting of 20 blue chip U.S Industrial Stocks, 17 of which are also in the Dow Jones Industrial Average. Within the index there is surprising blend of stocks that include transport, travel, food, pharma, energy and technology. A breakdown of its components can be found at this Trading View link (Will be added to comments below).
The Chart
The long term pattern on the chart is very obviously a rising wedge pattern which presents diagonal resistance above and below. We are currently 7% away from the top diagonal resistance line so this will be an important level in coming weeks and doesn’t leave a lot of room overhead. God forbid if we ever breach the base line of the large wedge.
In the past a 200 week SMA re-test and flattening has predated recessionary/capitulation price action. If we come close to the 200 week SMA again we should be preparing ourselves for that potential outcome.
The XMI made lower highs from Jan 1999 - Sept 2000 providing an advanced 9 month warning of the follow up recession/capitulation price action that initiated from Sept 2000 onwards on the S&P 500. The XMI made lower highs as the EIGHTCAP:SPX500 made higher highs over the 9 month period. The XMI did not provide a similar advance warning for the 2008 Great Recession however, it did make a lower high, which is something we else we can look out for as a weaker warning signal. This is not a concern at present as the XMI has just broke up into new highs.
Its interesting to see how the XMI gave a significant 9 month advance warning of the 2000 Recession but was not as clear cut at providing an advance warning of the 2008 Great Recession. Conversely, the SPDR Homebuilders ETF ( AMEX:XHB ) which we covered in Macro Monday 3 provided an advance warning of the 2008 Great Recession, however was not as clear cut at providing an advance warning of the 2000 Recession. This is because the 2008 Great Recession was mainly a result of high risk mortgage lending which lead to a housing market collapse, whilst the 2000 recession was a tech led crash and general economic slowdown invoked by the Federal reserve who had been increasing rates to quell an overvalued bubbling tech stock market.
We will need to pay separate attention to these individual index charts as we move forward for clues and warnings as we do not know what market or chart will provide us with that ultimate advance warning. In March 2020 it was the Dow Transportation Index DJ:DJT (Macro Monday 1), in 2007 it was the Homebuilders XHB (Macro Monday 3) and in 2000 it was the Major Market Index XMI (See Chart).
MACRO MONDAY 1 - DJT
MACRO MONDAY 3 - XHB
It is worth noting that the current yield curve inversion on the 2/10 year Treasury Spread provided advance warning of recession/capitulation prior to all of the above events 2000, 2007 & 2020 however it provided us a wide 6 - 22 month window of time from the time the yield curve made its first definitive turn back up to the 0% level (See Macro Monday 2). We are 5 months into that 6 – 22 month window and thus closing in on dangerous territory, however the DJT, XHB and XMI charts remain very positive suggesting a longer time horizon is likely on the cards. I hope with the addition of DJT, XHB and XMI we are providing you with additional warning/timing indicators allowing us to hone in on a more specific timeframe, making us better informed and more nimble market participants.
MACRO MONDAY 2 - 2/10 year Treasury Spread
As we continue with Macro Mondays we will continue to cover these and similar leading charts and indicators. At present the yield curve inversion suggests recession is only a matter of time however the DJT, XHB and XMI charts do not have clear warning signals presenting, but when and if they do, we will be able to recognize these signals and position accordingly. Into the 6 – 22 month danger window we go. No guarantees, just probable outcomes.
Stay nimble folks
PUKA
Bing Short on SPX in progressIn my previous post on SPX ( link attached below the description ), I explained how we are going to see a rejection on this uptrend soon and we beginning to see that now.
In this post I will explain how I am playing this short setup.
In the previous post I had a pitchfork. I simplified it with three parallel channels, one larger and two inside it in its upper and lower half so we now have four rising trendlines which will be our point of interest when Price Gets there.
In the image below I have highlighted the properties of these trend lines based on past price action within the channel, which you can observe yourself.
I have indicated three take profit levels on the main chart. I don't think TP1 would be necessary as I don't expect the trendline to hold based on its past behavior.
TP2 and TP3 are my main targets, which is where I will look for signs of a nice bounce back up.
If you observe the channel, we have never really resumed a trend back up without creating a double bottom on the one of the lower two trendline in the chart as highlighted in the image below, if that happens, we resume the uptrend to new highs. That's when you take a swing long position on SPX.
On the other side if TP3 doesn't hold we are looking at a potential change of trend a macro scale, but I won't give up on the upside just after the break as we could possibly see deviation and bounce back in the channel after testing the support area as highlighted in the main chart.
What happens if we lose 4300 level, we go way down, I will leave that detailed analysis for another post.
Bing short on SPX.SPX along with other markets have been in a massive uptrend from past several weeks.
But we are about to see a potential change in trend.
On the chart you can see I have a pitchfork from the bottom, which has helped me a lot during this entire up trend, its levels have been respected very well.
But now we are about to hit the top of the pitchfork very soon, this calls for either a good rejection or a change of trend.
Along with the pitchfork we have a weekly harmonic pattern and SPX is hitting its prz. I have indicated the entry and Stop loss.
What I am watching is a weekly close either below the white line which will make a bearish engulfing week for SPX or even better a weekly close below the yellow line which result in change of trend.
Along with the pitchfork and the harmonic we also been in a trend of a green week followed by a red week from past 5 weeks, and I am expecting next week to be a red week.