spx300it was last july when i first made a warning about what was to come,
and the market rallied a bit higher than i originally expected, but ended up breaking down as hard as i had originally discussed.
you can see that post over here:
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a lot of people are extremely bearish right now,
not just retail either, institutional traders are on the bear side as well.
though, i have this feeling that the market will expand in time to eliminate a lot of the short positions before it makes the final plummet into the 3000 region.
end of november \ beginning of december, i expect a top to be made,
and it won't be until may 2023 where a bottom will be created, based on my primary calculation.
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trade safe!
US SPX 500
SPX can extend to a higher high before the 21st or fail hardIts all about 4125-35, 4150-60 and 4202SPX now.
All 3 are resistance levels!
Support is at 4085-90 and 4025, below it we should see 3955SPX
Im not sure about the exact pathway, so my game plan is to short 4145-60 and 4202 zone. If we breakout I will flip for a trip back to 4285-92 and even over 4300SPX
Please note, that this can even extend to 4425 just to screw everyone out on both sides and then sell hard.
So regardless of the situation, I will be short (if we make a new high) or long (if we make a higher low) on the 20-21st or before the FOMC.
Ideally we spike up to 4125-35 and even 4145-60SPX tomorrow and sell off into Fri OPEX low. That low should produce a good setup for a few days rally before the FOMC decision on the 21st.
One certain thing is that the Oct low should provide a good buy and hold setup going into EOY high.
Ideally we make a new low in Oct and then higher low in Nov (before the Midterms) and then off we go together with Santa.
Jan (in case of the above scenario) should mark the high and then we should see lows in Apr.
Levels of importance tomorrow:
- 4145
- 4160-62
Closing above those levels will get us back to 4195-4205SPX by Fri.
Im going to short tomorrow's gap for the crap scenario. Ideally we hit 4125-35 or even 4145-60 in am and crap from there.
Have a good night
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SP500 entering sell zone. 1:3 R:R sell tradeLast week I said that SP500 is drawing a nasty picture and although we can have a rebound from the recent ascending trend line, this will not change the longer-term bearish perspective.
Indeed, we had this rebound and now the SP500 index is trading in a very strong sell zone that is set between 4100 and 4200.
In my opinion, a reversal to the downside will follow from this zone and traders should look for selling opportunities.
This outlook is intact as long as the price is under 4300 and bears can target the previous low for their sell short trades.
SPX possible pathway to min 3720 and ideal 3450!I want to present a very possible pathway in case MACD will make a hook like turn, which is very bearish!
I saw this many times, when everyone is cheering bullish and looking for that golden cross and all they get is a the hook formation (zoomed in and outlined at the bottom of the chart)
So far MACD is still way below 0, RSI is at 50 level and could make a lower high.
We have touched 50% today and one more push to 4150 zone for 61.8 (see the retracement fibs on the chart) is what I would expect to hold for that MACD hook formation.
- 4090 is the support now,
- 4125-35, 4145 and 4160 resistance
So stay alert, have stops if trading on the long side!
BTW all the pink lines are the unfilled gaps
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SPX is very close to my first target outlined for a while nowI missed most of the day, Im waiting for my 4125-35 test to short and exit some longs I have running since last week (those were under the water at some point, now nicely in green)
Want to see some pullback into the close and then spike up tomorrow to hit the target zone for a fakeout move.
High tomorrow and low on the 16th, then we should rally to 4200 and even 4285-91SPX by or before 21st FOMC meeting
4085 is now support!
This chart is from 6th of Sep
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ES1! SPX500USD 2022 SEP 12 Week
ES1! SPX500USD 2022 SEP 12 Week
Last week's 3903 support provided fruitful long.
We have an engulfing bullish weekly bar. Possibility of continued
upward momentum, for long preference.
Possible Scenarios are considered:
1) Long if 4010 / 4095 is supported
2) Short on trend channel rejection / rejection at 4095 / 4010
Weekly: Ave vol up bar (engulfing bullish) = strength
Daily: Ave vol up bar close off high = minor weakness
H4: High vol bar + low vol UT bar = weakenss
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
4303 4204 4029
3903 3743
Remember to like and follow if you find this useful.
Have a profitable trading week.
SPX gapped up, no Fri sell off repeate, main support is at 4025We didnt get a move down off am highs as I was hoping for, gap up above 4020-35 happen, so the move lower is off the table.
Now 4025 and 4015 are 2 main supports to hold for next week to continue advance. 4085 is next target.
This still can be a fakeout and if we close below am open, and especially below 4015SPX it will be bearish and I will be looking for 3925 to test early next week before push to higher levels.
I got stopped on half short from overnight and holding the other half for the fakeout scenario.
Will hedge at 4025 and 4015 level (will cut if we close below 4015)
So far the pathway up is in play, I dont expect much lower till 4125-35 test and ideally 4200
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SPX weekly closing day - Fri updateHi everyone!
Im still battling with timing on the high and potential crash this/next month.
We either bottom this month, we have interest rate decision on the 21st and then up into Oct 3rd week where the turn suppose to happen and last into EOM or even Nov.
My timing showing a low in Oct/Nov.
There is a chance for us to see 4425! but the lows we just had must hold, then that high will be early Oct.
But there are several supper strong resistances to overtake:
- 4085
- 4125-35
- 4308
- 4385SPX
My fib calculation as well as previous calculations support this possible pathway, then the Oct/Nov low will be in 3240SPX zone!!!
- There is also a 61.8 retracement at 3195SPX off 2020 Mar lows!
- This move up will be a perfect C wave up of the bigger B wave in case we made A high in Aug (I have this pathway outlined in green count)
My main count is still to hold 4125-35 and ideally stretch to 4200SPX before serious selling into EOM.
- I have Panic month on Oct in SPX and Sep for the DOW. Interesting thing is SPX had a panic month on Sep as well, but cycles have moved it to Oct now.
But I want to be open for a potential screw up of the bears and making the bulls believe we are on the pathway to ATHs (again). That alone will screw up so many!
Ideally we make a higher monthly close in Sep and intraday high early Oct, then the cycles will match with the turn in Oct where we can have a huge sell into MidTerms.
- Then we should rally into EOY to do a damage control and top out in Jan. Im still battling about Santa Rally as this year is completely different from others.
- Also energy and food crisis in Europe might put a lot of pressure into the markets, unless there is a bigger war erupted and the European money will flow into the US. Which I do expect to happen next year or 2024...
So lets talk about tomorrow, so I can go to sleep:
Today's close was into the wall with last 10 min pump, that usually ends up in following day being red, at least first part of it. Also closed below intraday highs = not bullish.
- Needs a gap up above 4020 (and ideally 4030) or we should see lower levels tomorrow.
Im short into tomorrow from the close and some from AHs highs, half position.
Last few weeks we dump big on Friday's, will it repeat tomorrow? My bet is yes.
Tomorrow is a turning day!
Ideally we see a higher low tomorrow and reverse hard into last hour or 2 of the day and never look back, that would setup a move for much higher next week
Its VIX OPEX on Wed, triple witching week
200MA here on 4h chart is the ideal target for this move!
- Or 4125-35 and ideal at 4200+ for the top of this move this month
Tomorrow resistance is at:
- first resistance 4020SPX
- Main resistance to take 40350SPX
- 4085SPX is the closing resistance for higher levels early next week
The only real support I have now is low 3800 cluster, if we test 3885-3900 again it will slice it imo.
So lets see if they can push it up and save the day before and at least the OPEX and the interest rate decision on the 21st.
Have a good night!
P.S. Dont forget to like my posts, so it gets pushed up on TV for others to see as well.
Thanks in advance!
SPX versus DXYWhatever the macro-economic facts/narratives or gvt. 'explanation', just looking at the SPX and DXY graph correlation paints the current picture... and a possible scenario one should take into account for how this may unfold. Not trying to make any predictions or spread fud but for me personally this is a time to hedge my market risk and currency risk.
S&P500 | May lose important support!Hello trader Today I prepared a new idea for you. Like and subscribe to the channel there is a lot of useful information✅
The culprit of yesterday's dump is yesterday's opening of the stock market, in my last analysis I noted the $3900 support zone
My expectations were justified by the fact that at the opening we saw a continuation of the correction, which actually influenced the decline of bitcoin to $ 18,800
At the moment SPX500 is trading near the important support level of $3900-3880 if the asset loses this support, the next stop will be at $3850-3800
If we talk about bitcoin, with such a decrease, we will most likely see $18,000-17,500 again.
ICT concepts to enter this buy idea on SPX500.. Have this bias for SPX500.. I think we are gonna have a bullish week to try to target some of the previous buy stops above and get back some liquidity before selling off once more lower.. As of right now bullish until this trade idea gets proved false.