Spyshort
S&P Rally Ends beginning from Sept with huge H&SHuge Head & Shoulders may form ((need confirmation) and end S&P Rally beginning from Sept.
Watch for bounce back at $300 or $293.
Out of the Channel AgainOscillators lining up on the 4h. Exiting the Channel Again. Holding OTM SPY puts with diamond hands.
SP500 / SPY / DUMP INCOMING1. testing ath
2. rsi divergence (dump)
3. volume + acceleration declining
4. bitcoin will drop most likely aswell, since those two pairs are correlated (Btc couldnt pass ath today)
Spy H&S On the 1 hour chart, pattern of H&S followed by drop.
Confirmation of H&S on the daily MACD.
Earnings might not go so well if it follows the pattern.
$SPY Daily-Back outside rising wedge but volume still low
- no confirmation either way, will continue to watch price
How ES/SPY will finish up July thoughtsTo me the technicals are showing ES falling off throughout the next week. We could see continuation but think we would need some good news to turn this boat around. Vaccine was priced in already, covid cases rising, Trump taking precautions now, losing confidence in market. Maybe another stimulus could float the market a little longer. Papa Jpow is running low on ink.
In all seriousness I think SPY had a good run-up and needs to test back down and looks to me as if it's losing steam.
Possible we see sell off tomorrow going into the weekend but we will see where tonight takes us, will update when I get a chance.
Thanks!
Bearish monthly divergence on SPY Was looking at tech stocks and noticed some bearish divergence there on shorter term time frames. Checked SPY for any similarities and noticed this...
I think its notable because its a long-term chart with multiple RSI peaks since 2018. If this holds true, one possible scenario is that SPY may hit either a double top, or slightly higher all time high this fall, then go into a serious down turn.
Not saying it will happen, but its within the realm of possibility. Gotta watch the fed and what they do... News also... As its SPY we are talking about, it can certainly continue going up as it has for decades, but this is one scenario...
Note, similar, but much lesser divergence occurred on SPY between May 2007 and October 2007 (lower RSI peaks and higher price points), resulting in downturn.
SPY sell off soonMy first idea ever.
2 day of selling volume. Skew Kurt building up mode sales ahead. 1 or 2 days away.
As usual, weekend news can change this.
But, at some point, "no government can print enough money" to fake the market.
It may even go up for a tick before it happens.
All indicators are consistent.
SPX Long (But not for Long)Please do your due diligence, this is just my opinion:
Still long for now and still expecting new all time high. I expect the NDX to slowly continue its downtrend while the rest of the market catches up. I did reduce my year end target from 4k though.
Don't forget to click on the like.
BE READY for a BLOOD BATH! DONT JUMP IN THAT MARKET!Hello guys,
Technology: Tech is going crazy, coorporations are raising a lot of money without being profitable we will see a big correction in the next months.
Traditional markets: Traditional markets are super hard hit by COVID19 and we will see a big sell off from traditional investors to buy in low levels. This is an unreal push up to sell their bags.
Commodities: The petroleum fight still on and probably it will be worst and worst every year.
Forex: The fight of virtual money (crypto) and traditional currencies still there, we have a non clear future of what will happen there.
I'm really bearish with all that situations, we can see much worst index in all stocks.
The range for potential distributionAs we expected SP500 rallied before July 4th. We still don’t have any swing signals. Based on cycles and seasonal indicators we can see a choppy trading coming week or two and formation of distribution with possible upthrust near 3200. If that happens, we can expect selloff. Price action confirmation and divergence with the advanced decline line needed. For now, that is general outlook based on cycles and seasonals
Bullish and Bearish views on $SPYBoth cases on how spy might be doing in the next fews day.
(Not finacial advice)
short incoming $SPYbearish 1d divergence, possibility for another bounce, but general trend through EOY:
SPY/SPX looking top heavy. SHORT.I keep trading as simple as possible.
Don't get greedy. Take profits quick when in green :-)
All trades taken on PrimeXBT (Referrel link below). Write me for 50% off trading fees.
go.primexbt.com
Cheers.
SPY Shorting another correction Cant see this not dropping to another correction level. Week by week for the next month, up towards 320 then dropping towards 280
SP500 future prediction, retest into supply coming. Big short?With COVID and further pressure on global economies, we are in sensitive times to say the least. Future prediction based on chart analysis may line up with the news. Check back later to see.
SPX500USD SPX FUTURES ELLIOTWAVE next 2-3 months DOWN The 3 wave structure of the BEAR MARKET RALLY since March lows is more clear on the Dow and sector ETFs - especially XLF.
Elliot wave theory calls for going to March lows again.
June 8 was the end of this bear market rally and we are now completing wave c of 2 of the larger C wave down.
Minor wave c of 2 of larger C stIll unfolding higher and needs one more minor 4 and 5 higher to complete the pattern before the drop to March lows begins which should take us to end of summer if not the end of Sep.
I see Fed stepping in more in August to slow the drop and new major rally should begin once we test March lows. More fiscal stimulus should come by end of July also.
Nasdaq rise to all-time highs is NOT being confirmed by Dow and S&P and this is a huge bearish divergence.
The NASDAQ 100 on daily charts showing triple bearish divergence with MACD. The upside is limited and NASDAQ 100 should snap back to downside also.
Dow is the weakest and will lead the way down on all major US Indexes.
Cheers!
Cyrus
🤔Going long or short on the S&P? Then watch these key levels👀The whole world has their eyes on the S&P500 using it as a gauge for what type of recovery we will be getting.
The most important point on the chart is the 3,000~ area, this is acting as support on the 4-hour, daily and weekly.
If a single level is acting as support on multiple time-frames, it’s an area being watched by EVERYONE, people are looking to go short on a break or long on a bounce.
Monthly resistance is at the monthly all time high of 3,260~, we tested the area once and got rejected pretty sharply.
In June support was tested 5 times, and survived.
There are three ways I see the S&P playing out, I’ll start with bullish to bearish.
Bull case (green line) – the bull case is that the S&P breaks through monthly resistance and goes on to make new highs, if it clearly broke the 3,260 area, any retest of the area would be a good time to go long.
Neutral case (blue line) – currently the S&P500 is range bounding, it could carry on doing that for the next month between support and resistance.
Bearish case (white line) – S&P breaks the major support level at 3,000 and goes to re-test the lows made in March. If it broke the 3,000, I’ll be looking to go short on an pull back to the 3,000 level.
The 3,000 area is a great place for fake outs and traps, because it's on everybody's chart.
just because the S&P goes below 3,000 does not mean it’s a single to go short, it has broken that area 5 times in June an pulled it back each time, trapping shorts.
I would like to see a few daily candles closes below 3,000 or above 3,260~ before entering any long or short trading position, if I see a trading opportunity I'll post it later this month.
Fear and greed are controlling the markets right now, with the FED keeping the S&P at these levels. News will be a major catalyst.
Enjoy my idea? then be sure to give my account a follow as I cover all major markets including, gold, bitcoin, silver, Forex and stock markets.
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/ES possibly coming back down to re-test 2920Based on elliot wave theory and my fib targets I am thinking /es will come back down to test the relative low of 2920. What do you think?
