Get started

Spxshort

SPX pulled back, is it going to hit all time highs now? 3245!The SPX was due for a pullback, we had anticipated the move lower before a pop would be more extended than it was and it was driven on trade news. We did, however, curl back into the wedge that was broken and use it as support before slightly rallying throughout the past few sessions. It did not seem like the downside was over after Monday, considering we saw an 80 point drop in just 2 days, which was about 2.7% from all time high. In our previous idea we mentioned that the SPX would have a really hard time moving up without pulling back just a bit. We got our pullback but we did not expect the price to rebound so fiercely off that support structure. Now the question is what is the move to the upside? How far can we see the price on this rally? Last time we said that we would probably come into an all-time high a new one that is, somewhere above 3175. A measured move is 3245 based on the Fib extension. IF the trade talks continue to deteriorate then we could see more downside in the SPX bringing price down to 3025. Disclaimer: This idea is for educational purposes only, this does not constitute as investment or trading advice. TRADEPRO Academy is not responsible for market activity.
TVC:SPXLong
by TRADEPROAcademy
Gold up to $1500? Trade war seems to think so...Gold was recently looking really bearish as trade news started to flush out of the US that did not look to good for the remainder of the year and the schedule they had planned. A double bottom formed on Gold at $1447-1450 where price rallied and nearly hit $1490 on its way up. The idea here is that there is strong resistance at $1485-1490 based on the low volume node from the year to date volume profile and the previous structure support that is going to act as resistance this time through. Should that level break we can see a move into the year to date POC and ultimately the $1500, the $1490 area will act as support on the retrace lower as well. This upside can be further opened on gold if the trade talks continue to deteriorate over the next few weeks and it puts downside pressure on the US equity markets. If this area holds resistance and there are intraday rotations at the level then we could see another move down to $1445-1450. Disclaimer: This idea is for educational purposes only, this does not constitute as investment or trading advice. TRADEPRO Academy is not responsible for any market activity.
COMEX:GC1!Long
by TRADEPROAcademy
How the Russell 2000 indicates a correction in the S&P 500The Russell 2000 small cap index has been a prevalent lagger throughout the whole US equity rally into all-time highs. This is of concern for the health of the economy and the health of the S&P 500 index. The small-cap sector reacts the most to economic conditions and monetary policy, being the most affected if they cannot make new highs and are over 8.5% away from all-time highs we can infer that a stronger correction of 8-10% may occur in the S&P 500. The S&P 500 is full of companies that have been artificially inflated by stock buy-backs and also monetary policy allowing for cheaper borrowing. There is a healthy retrace coming out to catch down to small caps since they have not relished in the strong economic conditions. Which presents another concern, is the economy that strong to begin with? If there is a correction, there could be more buyers in both the S&P 500 and Russell 2000 companies to help markets reach all-time highs yet again.
TVC:SPXEducation
by TRADEPROAcademy
The correlation: Bond yields indicate SPX CORRECTIONUS treasury yields and the S&P 500 have a positive correlation. The two usually move lockstep to a certain degree and when they diverge, they don't stay divergent for too long. This time, however, at the beginning of 2019, the divergence occurred and has continued for nearly 12 months now. The idea behind the correlation is that bond prices are typically inverse to the equity prices, due to the yield of bonds being related to the SPX. From darkest blue to lightest: 30-year yield, 10-year, 5-year. The area at which the divergence began, the S&P 500 gained over 25% while bonds fell about 35%. This leaves us with three alternatives. 1. The S&P 500 corrects 50% to catch down with the bond yields (least likely) 2. Bond Yields for the 30, 10 & 5Year all rally 50% (not likely) 3. The two meet somewhere in the middle. Meaning bond yields rally 15-25% or so, while the S&P 500 drops 10-15%. (a most likely scenario)
SP:SPXEducation
by TRADEPROAcademy
3
SPY SHORTS if the week close is under 311.The first red week out of the last 7 weeks, price had rallied over 6% since early October and this is the first sign of a reversal for the continued move. The volume had been weak over the last few weeks on new highs. Price did make a new all-time high this week before reversing on the week. The doji candle that formed at the top of the trend on a weekly chart indicates the start of a reversal and looking at the multi-timeframe analysis on a daily candle chart as well we've seen the downside begin to open up. If price breaks below 311 this week and closes under we can see more downside open up and the start of a slight reversal. The first target is the broken top at 301, where the volume profile that measures year to date tapers off for an edge of low volume. This ties into the order flow trade. The longer-term potential target for the downside is the start of the impulse move higher at 293.50 which is the year to date POC. Disclaimer: This is not trading or investing advice, the idea represented is for educational purposes only.
AMEX:SPYShort
by TRADEPROAcademy
SPX pulling back for an all time high. Target 3250+ The S&P500 has had high after high over the past few weeks after breaking out of the 3025-3030 all-time high. The index has moved nearly 4% off the new highs. From here we've seen the beginning of the first red week or reversal in 6 weeks of straight gains. It's healthy for the market to pull back slightly before breaking higher. No one wants to buy a top and that is why the volume died out near the top, which caused a sell-off. There is big money waiting below for another rally. Low-interest rates allow cheaper borrowing, stock buybacks helped assets rally and the new Quantitative Easing 4 from the Fed will all help the market continue to chug along for the next few months. However, before that we can expect a retrace. The Fib level extension is based on the impulse that brought the price to a new high. We expect the broken all-time high at 3030 or so to hold support before we get a new all-time move into 3250.
TVC:SPXLong
by TRADEPROAcademy
SPY - Downtrend Started - Part 1 of 2Daily chart shows RSI turned down crossing trendline. Fisher Transform flipped bearish. Filter Dots confirm bearish downtrend has stared. In my opinion, this correction should last at least a week up to one month (Christmas). Possibly greater correction if determined in December. I will update a 30Min Chart for Part 2 of 2. Thank you for liking, commenting, throwing up a chart, following, or viewing. I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts. Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY. Short SPY and AAPL.
OANDA:SPX500USDShort
by MoneyPatterns
7