Hello guys! So, SPX it’s trapped within this sideway trend since April 29, and today it failed again in breaking out of it. You guys know that I think this bull trend is just FOMO, but let’s try to find out some sense of it. Yes, today's candle throws a bucket of cold water at the bulls. Maybe it’s a triple top here, but we need the confirmation tomorrow, and SPX...
Here is another trading Snack. Ever sense the stock market pushed to it last all-time-high, followed by risk off fears of the pandemic, we’ve only challenged the re trace move bacK to the 61.8 Fib level and now are grinding around. With zero or close to zero rates in most of the world, money managers who for the most part have only seen for the last 11 years a...
So, the bulls are fighting hard this time! Since Apr 20 SPX is moving sideways it could be an accumulation or distribution, we don’t know for sure yet , so let’s try to find out! But first remember to follow me if you are new here, I post daily analyses and you are welcome to join our community! Also, follow me on TWITTER , because there I post things I can’t...
Now SPX did a Bearish Engulf under a Fibonacci Retracement and it could trigger a double top. There’re a lot of bearish signs here, but as I said in my last analysis, it’s not worth short SPX . The link to my last analysis is below, in case you missed it, and I invite you to follow me to keep in touch with my trades and analysis, I do daily analyses here. In...
S&P has crossed below the long term channel up for the first time since it started in October. Levels to watch: - The Resistance is at 3340 while the Support (short term) at 3235. - The price not only crossed the ascending support of the channel up but also the MA200 on the 4H chart. In fact it crossed it twice in 3 days, which is something we haven't seen...
The S&P 500 is likely to edge higher during the following trading sessions. If the SPX breaks the significant resistance level at 3020.0, a surge towards the $3100 area could be expected. However, if the aforementioned resistance level holds, a decline towards the $2850 region could occur.
Pattern: Channel Down on 4H. Signal: Bearish as long as the previous Lower High doesn't break. Target: 2820.