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Spy500

ES Daily Harmonic Elliott Wave AnalysisHi traders, Overview: lets review our expectation published yesterday: "I am now considering wave X as a flat. Waves (I) and (II) have been completed, with wave (III) currently in play. I see wave X reaching the top of the bullish channel (blue lines) as a potential target." Update: there is not much to update as the price action followed our count perfectly. Potential targets for wave X top (~4040): 1) Wave X: 4018 and 4049.75 2) Wave C: 4034.75 3) Wave (V): 4042.5 4) Wave c: 4043
CME_MINI:ES1!
by bamdadsalarieh
ES Daily Harmonic Elliott Wave AnalysisHi traders, Overview: first of all, my triangle count was invalidated today. However, it was not unexpected in our plan as stated on July 16th review: "please remember the most important point is to catch the daily move in the right direction, while my general perspective has been generally accurate. Even if my triangle count is invalidated, the other possibility is that wave X is a flat. So, we are in leg c of flat right now, completing its wave 1, and then what follows is wave 2. You can see that in both counts, we expect a pullback to at least 3800 area." Update: I am now considering wave X as a flat. Waves (I) and (II) have been completed, with wave (III) currently in play. I see wave X reaching the top of the bullish channel (blue lines) as a potential target.
CME_MINI:ES1!
by bamdadsalarieh
ES Daily Harmonic Elliott Wave AnalysisHi traders, Overview: lets review my yesterday update: "I am considering the same scenario: triangle as x of X. Leg (d) is near completion, what follows is leg (e) to the 3740 support zone. Then, we will have the rally as wave y of X." and "You can see that in both counts, we expect a pullback to at least 3800 area." Update: today's price action perfectly matched our expectation. Nice rejection at the downward trendline and then a powerful bearish move to the 3820 area. You can see the hourly count on the chart and what I expect to happen from this point moving forward.
CME_MINI:ES1!
by bamdadsalarieh
ES Daily Harmonic Elliott Wave AnalysisHi traders, Overview: In this weekend review, I am going through a summery of my thinking process and analysis since June 17th: June 17th: "I see us completing wave Y (second zigzag ) soon, most probably by end of today. What comes next is another wave X and then the third zigzag , Z to the actual market bottom." June 24th: "We can consider several different targets for this wave X such as 4170 range or 4300 range. For now, I am considering it as a zigzag development, but it can be developed in any kind of corrective structures." The reason that I was initially considering a zigzag formation for the current X wave was that the previous wave X (Jan 24-March 29) developed as a flat (sideways action). June 28th: "We started thinking that wave X is developing as a double or triple zigzag , which is still a valid point. However, the subwaves of this X wave developed in a different way than we anticipated." July 11th: "After careful consideration of structure, I am now considering a different scenario. I think wave x of X is still in process and not yet complete. It is developing as a triangle and its waves (a) and (b) have been completed. Please note that there are other scenarios possible, but this is the most probable one in my opinion." Update: I am considering the same scenario: triangle as x of X. Leg (d) is near completion, what follows is leg (e) to the 3740 support zone. Then, we will have the rally as wave y of X. Important Note: please remember the most important point is to catch the daily move in the right direction, while my general perspective has been generally accurate. Even if my triangle count is invalidated, the other possibility is that wave X is a flat. So, we are in leg c of flat right now, completing its wave 1, and then what follows is wave 2. You can see that in both counts, we expect a pullback to at least 3800 area.
CME_MINI:ES1!
by bamdadsalarieh
(SPY) Triple Top FormingThe SPY chart is forming a beautiful triple top pattern, and with the up coming FED rate hike and (-) Q2 GDP data confirming a technical recession releasing July 28th. I believe that the triple top will be completed around the 29th of this month, and the SPY will drop to the bottom of the overall trend line at around $360. Also in this chart you can see that the SPY has strong resistance at the $390 price range and rejects hard back to support roughly at $370. Let me know what you guys think in the comments.
AMEX:SPYShort
by markriah22
2
SPY breakout attempt Number 1Breakout attempts can happen without any triggers but when a trigger appears and coincides with market bottom, then there is an agreement and slight trading conviction that may be worth considering into the last half of the year. There is a daily wolfe wave setup that triggered on June 21 closing day at 3767.75. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. The projected target is 4332 which is expected to reach this price target before Sept 30. Projected targets are defined by identifying the apex of the wolfe wave and projecting a vertical line toward the green perforated projection tgt which is extending from left to right.
CME_MINI:ES1!Long
by TOSOPTION
ES Daily Harmonic Elliott Wave AnalysisHi traders, Overview: if you followed my previous updates, you know that we are considering the whole 2022 correction as a triple zigzag (WXYXZ), where waves W, X and Y has been completed and we are in second wave X at the moment. Further, since the first X wave was developed as a flat, we expected this wave X to develop as some form of a zigzag. Up to this morning, I was expecting wave X as a double zigzag (wxy) with w and x being complete and a of y near completion. However, today's price action invalidated this count. Update: after careful consideration of structure, I am now considering a different scenario. I think wave x of X is still in process and not yet complete. It is developing as a triangle and its waves (a) and (b) have been completed. Please note that there are other scenarios possible, but this is the most probable one in my opinion.
CME_MINI:ES1!
by bamdadsalarieh
ES Daily Harmonic Elliott Wave AnalysisHi traders, Overview: its been a while that the price action has matched our expectations perfectly. As usual, lets review our expectation on July 7th update: "I see us in III of (a) of y of X. Potential targets for this wave: 3940-3950." Update: I see wave III of (a) of y of X complete and it fell a bit short of the target I set (3922 actual vs 3940 expected). Right now, we are in the process of wave IV and based on wave II (deep double zigzag), it is expected to be a shallow flat (or triangle). Potential targets for this wave IV can be 3870-3880. For now, it is too early to come up with potential targets for wave V of (a), but I am expecting the 3950-3960 range.
CME_MINI:ES1!
by bamdadsalarieh
Its another 10% down to test the Pre-COVID market highLong term trend (weekly view) shows 2 previous market "resets" result in an approx. 50% drop in the S&P500 . Tech bubble popping in 2000 and Financial Crisis in 2008. So far, this latest downturn is 20% off its high. Its another 10% down from here to retest the high in Feb 2020 just before COVID-19 hit the US. That would bring the S&P500 back into the longer-term trended that started after the financial crisis. I'm bullish near-term (next few weeks) as a bounce is likely and we're at some nice round number support/resistance levels that traders will play with (3900 - 4200). However, the downtrend is likely to resume if the next few quarterly results seasons show a slowing of the economy and Fed keeps raising rates adding downward pressure to those results.
FX:SPX500
by canuk101
Bristol-Myers Squibb: The Beginning of a CorrectionGood evening. Fundamental analysis of the company was published in Seeking Alpha. I expect Bristol-Myers Squibb shares to correct in the $68-$69 per share range. Disclosure: This article may not take into account all the risks and catalysts of the assets described in it. Any part of this analytical article is provided for informational purposes only, does not constitute an individual investment recommendation, investment idea, advice, offer to buy or sell securities, or other financial instruments. The completeness and accuracy of the information in the analytical article are not guaranteed. If any fundamental/technical criteria or events change in the future, I do not assume any obligation to update this article.
NYSE:BMYShort
by NathanLive
1