Market needed to rally today so that we can get short setups. We have two halfway back short setups here. Selling off from the Weekly. But, Trend changes require this usually require the larger HWB. Basically, I am a seller up here in the sell zone between 2856 - 2883.
Bearish news + break of the bear flag Possible -2.5% from here in the main Index
With the SPY losing traction im thinking we do one jump up back to $296 and then a straight shot back down towards $255 we have yet to fill the gap and as we always know, gaps are always going to get filled i think that once we reach that $255 gap its back to ATHs until Q2 where earnings might be a lot worse than people are anticipating especially with Disney...
Possible short in the American Index Bearish sings in the Price Action
SPY was rejected at 250EMA and 61.8 Fibonacci retracement level and it completed a legit 1,2,3,4,5 impulse into a complete wave 1. My target for wave 2 is arrount 250.
After such a big drop with a relief rally to follow, people are getting complacent, comfortable, and feeling more confident about holding their stocks - the people who told them to not panic were right - thank you CNBC Fast Money! We've reached a point, technically speaking, where we should expect a sell off and new lows. The 61.8 / golden zone was tapped from...
SPX 500 looks toppy here The daily and 4 hour 200 sMA are very close (at 3010) so we can expect a rejection from this level The 2850-2800 zone should be the next target.
SPY is starting is breakdown, been waiting for this Bull trap to start taking shape. Artificially propped up market with unprecedented levels of unemployment, no end in sight for Corona.... Price never got to the Golden Ratio which is what I wanted to give me higher confidence on my PUTs, currently price is getting supported by the 0.23 retracement line. If this...
It already bounced +30% from the low. The situation is still bad, people still in lockdown. A retracement from here is the most optimal for the market if we are still bullish. An overextention of this pump could end in a major crash in the future.
Hate to say it but the VIX runs the show and I think Investors are just going to keep this on algo mode. I keep hearing bullish investors that they are waiting for another dip to buy more. I'm starting to think that recession is canceled til a real investor pulls the rug out. I don't think that's going to happen because these are really powerful companies with...
Rising wedge = bearish. High RSI = bearish. High Stoch RSI = bearish. High Accumulation = bearish. Next steps: short it. Target: 2,120
The current bull trap pattern remains bullish, and today's small pullback allows for a run-up tomorrow to the 284-285 range, where there is an important pivot / resistance. Any trend reversal here would help form a double top pattern, similar to the one that had formed around 263 on March 31. From here, I'm expecting a bigger pullback here back to the 0.5 fib line...
My very short term view: 15min candles - we are in the last 5th minor wave of bigger C corrective wave - fib 0,618 is at 2930 - till end ot this week (17-4-2020) the top of the correction...or call it bear market rally should be in (if not..and we close for 3 days in a row above 2930, then something else is going on and this view has to be corrected)
With every devastation this country faces there is always a high rate of plummet within the markets. There were bull rallies within those plummets, but it still happened. BUT WHAT YOU HAVE TO REMEMBER, THE MAIN VICTIM IN THE LAST 2 DISASTERS WAS USA. No one is coming to terms that its not just the US economy that has been shut down, BUT THE WHOLE WORLD. You...
this pattern been made by the spy few times before we are in a bullish wedge pullback failed the 266 support and touch the 262 still i think we will hit the 282 300 market need cross 274 to many good news going on only reason spy drop from 330 was for the corona virus pandemic very oversold rsi ma looks very good for more rally support levels 266 262 252
Today we had another rejection off the 275 area, just shy of the 0.618 fib retracement level, and a potential double top pattern is now forming here. However, given that the previous double top pattern at 263 led to a bullish continuation pattern, I could potentially see the 0.618 fib being broken after a run-up from the lower trend line support. This would extend...