SPY500 - going down from 2600Lots of sell indicators pointed out. The one positive buy indicator is the Trend Meter.
10 year yields are at a matching point, ready to send yields lower.
Yellow trend line is previous support, now resistance.
Spy500
SPY update -At the cuspUpdate.
SPY has moved higher but this trade is still in play. Recommended course of action would be to sell here but be prepared to buy back if we cross both the yellow resistance line AND orange line.
Trend meter indicates possible further bullish action but all other indicators suggest a drop from here.
Also possible, we could grind out along the yellow line without breaking it.
Moving up or down will likely hang on a "positive" US/China trade deal announcement before month-end or even week's end.
$SPY | Bearish Retrace forming. It's only a matter of time before the market stops holding its breath....
Bearish Indicators, Domestic Gov Conflict, Trade wars ...etc
SPY500 - charts confirming bull run is over?You can see where the support (blue trend line) broke down while a new down trending line of support (red line) was created.
Previous support line now acts as resistance. Failure to break back above the 2009 trend confirms the longest bull market in history has come to a close. Enter the bears.
I also see the left shoulder and head of a possible H&S formation. Perhaps we'll get news of a trade deal between the US and China, providing the catalyst needed to send prices higher, completing the right shoulder before said agreement falls apart or fails to materialize, sending prices down to 2470 and more likely, 2080 (.618)
Or any other number of possible catalyst.
A H&S pattern is not required to send price lower. We could just as easily bounce along the new RED support line down to 2470.
Don't buy the fear, buy the bloodJust my opinion, not financial advice!
SP500 index to reach 3350-3400 by end of September 2019.
Stock loss news has been dominating the narrative lately but the charts say otherwise.
You can see the current ATH bounced perfectly off the previous cycle's 2.618 level. (Thin black fib lines).
Longer term fib, measuring from the '94 to the dot com peak, matches up very nicely and indicates a future price of 3350-3400 before correction.
$SPY Possible 0.618% - 0.786% Retracement Looking to the past, 1994-2000 Bull Market had an approx 0.618% - 0.786% Retracement, if you compare it to this current bull run that we are in, we are much due for a pull back
$SPY Over bought, Indicators Are Heavy, Short term BearishIndicators are pointing to over bought, expecting to see a retrancement to the 275 area \
