As I've mentioned in my previous analysis, I believe we're at a market top (Despite Tom Lee calling for new highs). There's nothing positive for markets looking forward, therefore I think markets will finally price in all of the raise hikes and the poor economy. I think we may see one more high, however, if we do, I believe it'll result in a rug pull. I think...
ES/SPY/SPX is currently in a consolidation pattern. The S&P tends to make a big move out of these consolidation patterns once they are given time to play-out. NOTE that these consolidation patterns CAN breakout in any direction AND/OR fake-out in either direction but, observing the weekly price action, Im banking on this pattern being bearish along with the fact...
As you can see, History repeats itself. To my technical eye, The S&P is loosing momentum at a price of major resistance AND(+) a Major trend line where price has previously ended its bull rally to return to its overall bear market downtrend. Second possibility attached. I see The S&P returning to the 350's if not much much lower. Its divergent sister, the VIX is...
Jerome Powell gave good momentum in the market yesterday. I do not think this is enough to breakout of the bear trajectory. Market went emotional and soon reality will resurface. Inflation and interests are still high. Macro economics are not favourable. Money is still getting sucked out of the market. As time goes by, people have less money to invest because of...
$SPY momentum has been strong for the past few weeks. after the market switched gears to the upside after the government lifted off the covid restrictions this summer, and ok earnings in some of the big tech stocks couple weeks ago. i believe after the restrictions got lifted off, it helped the economy to get back on its feet. but despite the covid restriction...
Here Im using the trend based fib ext. SPY is currently at the June highs and the 1.618 Fib level. Seeing deviation with price making a higher high and the RSI making a lower low on the 4HR. (Bearish) In June fear turned to euphoria in an instant. Talks about the bear market being over started, just like it is now. Spy fell out of an ascending channel after...
The daily chart for the S&P 500 looks eerily similar to the chart from the 2008 crash. We have already crossed below the VWMA 100 and VWMA 500 now which are both historically very supportive moving averages. I think it's very possible we chop around in this area for the next couple weeks while we wait for the VWMA 100 to cross below the VWMA 500, but if we can't...
Spy levels to watch for- the yellow 436.58 being the 0.5% fib on the fib speed resistance fan. and 423.63 being the 0.38% or (.25%) 440 is acting as resistance. if it breaks lets see if it can hold and go from there. could test 442-443 again. for my opinion and im racing the clock on this 15min edit window. if we dont breech and go lower we stay between...
I believe we will drop to atleast $400 in the coming weeks/months. Be careful as volatility is at an extreme. Goodluck everyone!
$SPY broke the previous support of 457 approaching below 430. in all time frame SPY is really bearish. but the RSI on 1hr and 4hr chart shows that its oversold. oversold level doesn't mean it will bounce there. But the probability of short bounce is there. overall it seems the market is trying to deplete itself at the moment. most of the stocks that is rallying...
Out look on $SPY. Could this be the beginning of a Bearish Winter? Not financial advice!
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$SPY could possibly be forming a double top, paired with the rising wedge I just posted, should lead to a very red June.
Showed to be overbought, broke out of resistance with no overbearing candles and only baby candles, I'm expecting a drop to around the 78.60% Fibonacci level
Key points The DXY may bounce on resistance as shown Oil may bounce on support as shown Bonds remain unchanged as shown Need to gauge Asia's reaction from our sell off today for confirmation on tomorrows trade For those that don't understand intermarket relationships. From left to right and can start at any point. Currency ------> commodities...
In my philosophical view, humans tend to always need an "answer" for everything in life. Historically we created gods to explain the unexplainable. That's not to say that i am an atheist in my religious view, nor am i trying to make this a religious discussion, I'm purely commenting on human nature. We are a curious species and we learned to not take "no" or "i...
The $SPX sell-off from September 2nd highs, created a consolidation range (orange rectangle) from $330-340 approximately. Making a measured move, with the consolidation constituting a half-way measuring flag structure (blue arrows). 100 exponential moving average is now the trend support, coincidental with June highs. Unfortunately, this is not a support trend...