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S&P500 Giant Cup and Handle and CORRECTION in play?The S&P500 index (SPX) almost hit the 4820 All Time High (ATH) level on the last trading session of 2023. That day completed the 9th straight green weekly (1W) candle, a feat last seen on the week of February 19 2019. This doesn't necessarily indicate that any sort of correction is due as a bullish market can run rallies fueled on fundamental news for even longer period of times. But the fact that the ATH test completes a Cup pattern, could be alarming as, especially on overbought 1W RSI levels, Cup patterns tend to deliver one final pull-back in the form of a 'Handle' structure before making a new clear All Time High. Technically, the 1W MA50 (blue trend-line) tends to be an intact Support during the year(s) of a Bull Market and so fart it was last hit in late October 2023. If 2024 is indeed a Bull Phase year, then the 1W MA50 should hold. If the Handle pulls back the current bullish trend, then the two could 'meet' at around 4500, which is marginally above the 0.236 Fibonacci retracement level. A stronger correction to the 0.382 level is highly unlikely unless pessimistic news (e.g. Fed, growth, inflation, unemployment) hit the market. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:SPXShort
by TradingShot
3
DOW JONES Huge Bearish Divergence on 4HDow Jones (DJI) is trading within a very aggressive Channel Up since the October 27 bottom that has seen it rise almost by +17%, making new a All Time High (ATH) in the process. In the meantime it is about to hit the Higher Highs trend-line that has been acting as a Resistance, rejecting similar Channel Up patterns since April 14. What is more alarming than this Resistance, is the Channel Down that has emerged on the 4H RSI. The other two similar Channel Down patterns that emerged after the RSI got overbought, did so right before the index peaked on the Higher Highs trend-line, starting two corrective Bearish Megaphone patterns. Those structures reached at least the 0.5 Fibonacci retracement level measured from the previous Higher Low, and the 0.618 Fibonacci level from the bottom of the (blue) Channel Up. Based on this occurrence, we expect yet another Higher Highs rejection that will test at least the 0.618 Fib at 36750, which is our current sell target. Potentially, if the selling pressure is pilled up and transitions to the 1D time-frame, it can reach as low as the 0.5 Fibonacci from the October bottom at 35150. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US30Short
by TradingShot
1
RUSSELL 2000 on a 20 month High! Is it sustainable?Russell 2000 (RUT) gave us an excellent buy entry on our last call (see chart below), as we achieved the most optimal buy near Support 2 and rallied all the way to our 2000 Target: The Resistance Zone broke and this delivered a new 20-month High on the index, the effect of which is more accurately seen on the 1W time-frame. The question is, how sustainable can this rally be? Well as the 1W RSI is only 3 points away from getting overbought (70.00) for the first time since March 2021, having also entered the 2 year Higher Highs Zone, it becomes less and less sustainable. In fact a less risky medium-term strategy would be to start selling and target the 1D MA50 (red trend-line). That is where we will reverse to a buy and target Resistance 1 at 2140. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
PEPPERSTONE:US2000Short
by TradingShot
2
S&P500 Is 4800 the end of the road after 9 green weeks?The S&P500 index (SPX) is currently on its 9th straight green week (1W candle) following the October 23 (weekly terms) bottom. That was a Higher Low on the 15-month Channel Up and based on that pattern, the index is approaching its top (Higher Highs trend-line). What adds more weight to the very high levels it is trading at, is that the All Time High is just above the current price at 4820. A peak on that level would represent a +17.40% increase, exactly the % rise of the first Bullish Leg of the 15-month Channel Up that peaked on the week of November 28 2022 and then corrected by -8.06%. With the 1W RSI almost overbought (70.00) as it was on July 24, which was the peak of the previous Higher High of the Channel Up that initiated a 3-month correction of almost -11% and the 1W MACD on a post Bullish Cross level similar to the highs of August 15 2022 and November 28 2022 that kickstarted corrections, the selling pressure has now considerably stronger parameters to start. This means that, at least from a technical perspective, this is the strongest sell opportunity since late July. A minimum correction of -8.00% would deliver a test of the 1W MA50 (blue trend-line) and as such, our target is 4450 (slightly above it). If however the bullish trend continues for a few more weeks and pursues the maximum % rally we have seen since 2021, which has been +20.95%, then we can see an extension at around 4950, in which case we will add an additional (2nd) sell and both our bearish targets will be restructured at 4580 (-8.00%). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:SPXShort
by TradingShot
HANG SENG Buy opportunity.Hang Seng (HSI1!) has been trading within a Channel Down throughout the whole year. As the rice hit its bottom (Lower Lows trend-line) on December 11 and the 1D MACD formed a Bullish Cross, we expect the new Bullish Leg towards the 1D MA200 (orange trend trend-line) and the to (Lower Highs trend-line) of the Channel Down. The average rise within this pattern has been around 11% and based on that, we are targeting 17700. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
HKEX:HSI1!Long
by TradingShot
NIKKEI is starting a new rally.Last time we looked at Nikkei (NI225) for the long-term (May 26 2022), it gave us the most optimal buy entry we could expect (see chart below), as it bounced on the 10 year (since October 2012) Higher Lows trend-line, and from 26000 almost hit 34000: The index has since seen a 4 month correction (from July to October) to the 1W MA50 (blue trend-line), which held and initiated a rebound. This rebound is technically the introduction to the new multi-month rally towards the top of the Channel Up. This is consistent with the pre COVID crash consolidation and before that with the first three quarters of 2017. Both sequences completed rallies of approximately +63%, the first to the 1.618 Fibonacci extension and the second above the 2.0 Fib level. As a result if we take a modest approach to the upcoming rally, we expect to see at least 36700, which is the 2.0 Fib ext. and is our long-term target. A new +63% rise from the bottom though, gives as a 40300 price tag. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:NI225
by TradingShot
Can the MAGNIFICENT 7 outperform once more?We have seen the Magnificent 7 (Apple, Microsoft, Google, Amazon, Nvdia, Meta, Tesla) underperform on this rally since the October Low relative to the rest of the Nasdaq index (NDX). The former can be seen on the left chart while the latter on the right. This goes so far against the aggressive nature of the Magnificent 7 (M7), which have outperformed Nasdaq on all previous rallied by at least +50%. In fact the M7's first major rally (2016 - 2018) rose by +150% while NDX's by +95%. The second major rally (2019 - 2021) registered +363% for MA7 and 'just' +185% for NDX. If there is any progression between them, we can argue that on M7 the rallies increase by a constant of (0.41) while on NDX by (0.51). Of course the sample isn't big enough for solid conclusions. But there is a Higher Lows trend-line on both that is driving this logarithmic growth. Especially for M7, it has been touched on all corrections. As a result, a modest target estimate for both could be the 2.0 Fibonacci extension, which for M7 is 600.00, while for NDX 27500. Indeed those seem remarkable from the levels we stand currently but the projections can get even more inflated if we follow the 0.41 and 0.51 progressions respectively, which indicate that M7 could rise up to +511% (767) from the recent market bottom, while Nasdaq up to +279% (39700). In any event, do you think the Magnificent 7 will start to outperform Nasdaq again after November - December's pause? ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:NDXLong
by TradingShot
3
S&P500 The rally still has one more High to give at least.The S&P500 index (SPX) pulled-back yesterday on the strongest 1D red candle since October. A natural technical reaction after weeks of rise-only price action and an overbought 1D RSI that almost hit 83.00. The long-term pattern remains a Channel Up since the October 13 2022 market bottom and as long as the 1D MA50 (blue trend-line) is supporting, it is likely to see one final upward extension towards its top (Higher Highs trend-line). The two major Higher High sequences (bullish legs) of this Channel have been around +20.50%, extending almost as high as the 2.0 Fibonacci level. As a result we are expecting a minimum of 4930, before any larger correction takes place, unless of course the index breaks above its Channel Up, in which case we will look for a new pattern. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500Long
by TradingShot
CHINA A50: Time to buy Chinese stocks.The China A50 index (CN50) has been trading within a Falling Wedge pattern since July 2022 and more recently in particular hasn't been able to break above the 1D MA50 (blue trend-line) since September 08. That bearish sentiment may be coming to an end as the 1D MACD is about to form a new Bullish Cross in the same order as the November 01 2022 Low. This could be the bottom (Lower Low) of the Falling Wedge and the start of the new Bullish Leg towards the 0.786 Fibonacci retracement level, as the January 28 2023 High did. We are now buyers on this index, targeting the top of the Falling Wedge at 13000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:CN50Long
by TradingShot
NIFTY Hit our long-term target. What's next?The Nifty 50 Index (NIFTY) gave us an excellent bottom buy opportunity last time we looked into it (November 03) and hit on Thursday our 21000 target (see chart below): We've been receiving a lot of messages on what's next for this index. Well if we turn the Channel Up into the logarithmic scale, we can see that the price is almost on its Top (Higher Highs trend-line). The 1D MACD is about to form a Bearish Cross and the 1D RSI is pulling back aggressively after being extremely overbought at 85.00. Technically this is a sell signal and even though the shortest decline within the 18-month Channel Up has been -3.74%, we see more similarities with the September 13 2022 top, hence we will aim for the 0.382 Fibonacci retracement level at 20500, initially at least, where contact should be made with the 1D MA50 (blue trend-line). If the price breaks below the 1D MA100 (green trend-line), we will short again and target the bottom of the Channel Up at 19300, which will also be a -11.03% decline, similar with the strongest one on March 20 2023. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NSE:NIFTYShort
by TradingShot
DOW JONES Correction expected due to insanely overbought RSI.Dow Jones (DJI) easily hit last week's (December 12) target (37000) at the top of the 2-month Channel Up (see chart below) with the price grinding ever since on its top: That was a short-term signal, today we shift our attention to the medium-term and the 1D time-frame where the 1D RSI is 'insanely' overbought near 87.50, a level it hasn't touched since January 2018. In fact if we look a little longer, we can see a perfectly fitting sequence with today's price action in late 2016. The 1D RSI got hugely overbought at 87.40 on December 13 2016 and pulled-back to the 1D MA50 (blue trend-line) before resuming the uptrend. This overbought 1D RSI peak was made after two straight Channel Downs leading to approximately +9.58% and +14.50% rises, which is quite similar to what's been happening since April. This tells us not to engage in any buying any more, even though due to being on the end of year euphoria and post Fed rate cut anticipation, it can rise some more. But the risk is higher now than buying near the 1D MA50 again. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US30
by TradingShot
1
NASDAQ Hit the ATH but has one more push to give.Nasdaq (US100) hit yesterday the 16772 All Time High (ATH) level, reaching in the process our 16680 short-term target as shown on our December 11 call (see chart below): The dominant pattern on the 4H time-frame is a Channel Up and the price is trading on its middle. As long as the 4H MA50 (blue trend-line) supports, any pull-back is a buy opportunity for at least one more push marginally above the 5.0 Fibonacci extension, as it happened on the November 14 pump. Our target is 17300. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US100Long
by TradingShot
FTSE Close to a major bullish break-out. Be ready.It's been almost 2 months since we last looked into FTSE 100 (UK100) but the index didn't fail to deliver as it hit our 7535 target (see chart below) and got rejected inside the 6-month Resistance Zone: Despite the inability so far to break above the 7690 - 7750 Resistance Zone, the index did succeed at making the first important bullish break-out above the Lower Highs trend-line of the All Time High (ATH). Breaking above the Resistance Zone would be the second and final bullish signal but the rejection so far has made it test the first Support on the 1D MA200 (orange trend-line), with the 1D MA50 (blue trend-line) right below. In fact the two are close to forming a 1D Golden Cross, with the last registered occurrence being on December 28 2022. In fact as you can see, the two sequences (current and October - December 2022) are so far quite similar. Once the Resistance Zone broke in January 2023, the rally extended almost as high as the 1.382 Fibonacci extension. As a result, any pull-back after the current Resistance Zone breaks, is technically a buy signal. Our long-term target is 8300 (slightly below the 1.382 Fibonacci level). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:UK100Long
by TradingShot
1
DAX Will the 1D Golden Cross pull it back like last time?DAX (DE40) is trading within a 16-month Channel Up and is currently on the second most aggressive bullish leg, about to form the 2nd 1D Golden Cross within that time span. The 1D RSI is above 85.00 touching historically overbought levels while the price is approaching the 1.382 Fibonacci extension from the previous Higher High of the Channel, which is below where the Channel's first bullish leg of October - November 2022 peaked and then, after a 1D Golden Cross formation, pulled back to its middle trend-line and the 1D MA50 (blue trend-line). Despite those bearish indicators, we will sell only after the 1D MACD forms a Bearish Cross, which has been the most consistent sell signal throughout this period of time and target 16500 (Channel's middle). On the other hand, if the index breaks above the 1.382 Fib first, we will buy the break-out and target 18000, which is the top (Higher Highs trend-line) of the Channel Up and +24.20% rise from the bottom (similar to the November 2022 rally). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:DE40
by TradingShot
DOW JONES Does this rally still surprise you?Two months ago (October 11) we made a bold statement calling for "the start of a new Bull rally under our nose" on Dow Jones (DJI) (see chart below): Many traders/ investors/ market participants have been surprised by the current November - December rally but in reality they shouldn't as the index is methodically repeating the 2016 - 2017 Rising Wedge pattern, as we've shown on that analysis. We are now at the level where the price is breaking above that pattern (blue circle), which comes after the 1W RSI makes a fake-out break breach below the Higher Lows and then rebounds. On the current analysis we expand the chart more, in order to show you that the very same Rising Wedge also emerged from May 2011 to December 2012. We are therefore on a +10 year cyclical pattern which the all three Wedges not only displaying identical break-outs/ fake-outs but also similar duration. The 2011/12 pattern peaked on the 2.618 Fibonacci extension, the 2015/16 a little higher on the 3.0 Fib ext. We can assume that this progression could give a new top on a higher Fib, but if we take the worst case scenario of the model (2.618 Fib), we can expect a High around 42900. Check out also how the Sine Waves grasp fairly accurately the cyclical movement on those bottoms and peaks during these past +10 years. Another important observation is that after the index broke above the Rising Wedge in 2016, it didn't offer any significant dips to buy. Rare buy entry opportunities existed only on the middle trend-line (orange) of the Bollinger Bands. The 2013 break-out gave significantly more dips buy opportunities, 7 in total all marginally below the Bollinger middle, before the 2.618 Fibonacci peak. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:DJILong
by TradingShot
DOW JONES Channel Up still holding, aiming at All Time Highs.Dow Jones (DJI) maintains its bullish trade within the Channel Up pattern that started on the October 27 Low. The 4H MA50 (blue trend-line) has been supporting since November 01 and as long as it continues to do so, the index is more likely to test the 36975 All Time High (Jan 05 2022). Especially since it is currently on a 4H MACD Bullish Cross. The previous two MACD Bullish Crosses have delivered rises of around +2.70% to the top of the Channel Up. Another +2.70% rise will send the price above 37000 and that is our target. If however the index closes below the 4H MA50, we will take the long's loss and reverse to a short immediately, targeting the bottom of the Channel Up. If the price closes below it, we will re-sell and target Support 1 at 35300, where potentially contact with the 4H MA200 (orange trend-line) can be made for the first time since November 02. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US30
by TradingShot
S&P500 Bullish unless this Support level breaks.The S&P500 index (SPX) is extending the bullish leg of the 16-month Rising Wedge pattern. It doesn't have much room left before it hits the top (Higher Highs trend-line) of the pattern and as long as this stays intact, it targets 4730 as an end of year target. As you can see, throughout this pattern, its shorter Rising Wedge patterns that have driven the price upwards on the bullish legs, just like the current. The previous broke to the upside and peaked on the 3.0 Fibonacci extension while the first one failed and when it broke the Support (last Higher Low), it declined to the 0.5 Fibonacci retracement level below the 1D MA50. As a result, if the Support (4535) fails first, short and target 4370 (0.5 Fibonacci). The 1D MACD is about to complete a Bearish into Bullish Cross pattern, which was favors the bullish scenario. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500
by TradingShot
1
NASDAQ Last obstacle before a Christmas rally.Nasdaq (NDX) completed the short-term pull-back we called on our latest November 29 analysis (see chart below), hitting our 15750 target and then rebounding: This rebound can seasonally be the start of the end-of-the-year rally, which the market calls 'Santa' or 'Christmas' rally. However, one last Resistance level remains before it is confirmed and that is the top (Lower Highs trend-line) of the (blue) Channel Up, which happens to also be synched with the Lower Highs trend-line of the 4H RSI. If the index closes a 4H candle above it, we will buy and aim for a +6.34% rally (from the bottom), which has been the minimum bullish sequence since June, and target 16680 (Resistance 1), which is the December 28 2021 High, essentially the first Lower High of the 2022 Bear Cycle. A notch higher on that rally, the index can even test the 16770 All Time High. On the other hand, if Nasdaq breaks below the bottom (Lower Lows trend-line) of the Channel Down first, most likely will have made contact with the 4H MA200 (orange trend-line) by then, we will sell instead and target 14900 (-7.60% from the Lower High, which is the minimum short-term decline since June). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US100
by TradingShot
NDX100: Thoughts and Analysis Today's focus: NDX100 (NASDAQ) Pattern – Continuation. Support – 15,765 Resistance – 16,115, 16,085 Hi, and thanks for checking out today's update. Today, we are looking at NDX100 on the daily chart. Today's video asks if NDX100 will continue to move higher after starting to break out of a range consolidation pattern. When these patterns are seen in uptrends, we tend to look at them as continuation patterns with a new breakout higher confirming the pattern. We have run over what we are watching and things we want to see to confirm a new leg higher or things that could set some alarm bells for a potential fail or continued consolidation. After Friday's higher-than-expected jobs data, the NDX100 started to confirm a breakout. Price is close but hasn't yet broken out, and resistance remains in play. Will buyers shake off a weaker start to the week and push the price into a new up leg? Good trading.
EIGHTCAP:NDQ100Long
by Eightcap
DOW JONES Channel Up showing the way to All Time Highs.Dow Jones (DJI) hit the top of the Channel Up without a pull-back, which as we noted (see chart below), was a bullish break-out signal above Resistance 1 (35700) So you might be wondering, what about Santa's rally? Is it still feasible? It is technically, even if the index breaks lower next week. So far the short-term Channel Up on the 4H time-frame is holding, with the 4H MA50 (blue trend-line) supporting right on its bottom (Higher Lows trend-line). As long as this holds, we remain bullish, targeting the 36960 All Time High (ATH). If it breaks, we will short-term target 35300 (first level of the dashed Support range) and then get on the reversal. Ideally we would like to see the RSI oversold on the 30.00 mark before entering a low risk buy. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US30
by TradingShot
DAX's new All Time High sends a message to indices globallyDAX hit a new All Time High level, leading world stock indices on this rally and sending a clear message to markets globally: This rally has only just started. As you see on this 1M (monthly) time-frame, with the obvious exception of the COVID crash anomaly (Black Swan event), the index has been trading within a very stable Channel Up pattern since the start of the 2008 crisis. The 1M MA200 (orange trend-line) has been the absolute Support during this time, holding even during the COVID market crash. The recent November rally after October's bottom on a 3 month straight decline, is completing a very rare but powerful bullish signal that has only happened another 3 times during this 16-year pattern (5 if we count smaller occasions). As you can see, every time the index broke above a dashed Lower Highs trend-line of a correction wave, it then pulled-back to test it and after it held, it initiated a strong and lengthy rally. There have been two major Highs on this Channel Up pattern, and those are displayed perfectly on the Sine Waves peaks (April 2015, January 2022). Both have been exactly on the 2.0 Fibonacci extension since the first correction following a market High (July 2007, April 2015). Those occasions that are matched with the current rebound more accurately based on the 1M RSI are marked with a blue circle. The minimum % rise that those 5 events have delivered is the +22.10% of February 2020, which of course could have been higher if it wasn't cut short by the COVID crash. In any case a +22.10% rise from the October 2023 Low would match perfectly the top of the Channel Up and will make a technical Higher High for the pattern. As a result, our target is 17800 on DAX. What the blue-print of the Sine Waves show though for long term investors is that the Cyclical Peak therefore target around the end of 2028 - beginning 2029 is 20500. Those that patiently wait for corrections to take advantage of and buy, will get rewarded based on this historic behavioral pattern. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
XETR:DAXLong
by TradingShot
S&P500 Sell if the 4H MA50 breaks.The S&P500 index (SPX) is turning sideways following the enormous rally of November, which is close to being the best in history. That is a natural technical reaction by the market in an attempt to normalize the largely overbought 1D time-frame. This sideways trade that indicates a potential exhaustion, is complimented by the Bearish Divergence on the 4H RSI, which would justify a technical pull-back. The very same Bearish Divergence was last seen during the late July peak formation. The structures overall between now and July are quite similar, starting with a Cup bottom and peaking when the curve flattened. Our sell signal confirmation is a break and 4H candle closing below the 4H MA50 (blue trend-line). In that case, we will target the 0.5 Fibonacci retracement level (as on August 03) at 4465. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500
by TradingShot