SPX TARGETS 3674The SPX is on track to retest the intraday high of 3674 will all time frames bullish.
Pivot is now at 3569.
A break of 3569 will test 3505.
Supertrend
STI TARGETS 2813, ST/MT UPTRENDSTI has flashed a MT buy signal on the weekly chart with a target of 2813.
Support now at 2637.
A break of 2637 will test 2566.
STI RALLIES WITH WALL STREET. SUPPORT AT 2506. A Biden win gave the STI a strong boost and broke the ST downtrend on 4hr charts on the 3rd of Nov 2020 at 2517. The STI hit and intraday high of 2519.
Levels to support uptrend on the day and 4hr charts will be at 2506.
Uptrend targets are now at 2626 and then 2697 initially.
A break of 2506 will see the test of 2200.
SPX REBOUNDS TO TEST 3647A Biden Presidency gave the SPX a bounce to test 3647 after it bounced of weekly support near 3176.
A long signal was issued on the 4hr charts at 3351 on the 3rd of Nov 2020.
A long signal was issued on the day charts at 3471 on the 5th of Nov 2020.
Target now stands at all time highs if we can break and close above 3647.
Support for the ST is at 3400.
A break of 3400 will negate this rally and resume a ST downtrend
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SPX BREAKS 3333 TO TEST 3176A broad sell off across the globe started on the 281020.
This sell off spark the SPX to break its Supertrend line at 3333 opening the door to its weekly Kijun support at 3176.
The short signal was issued 2 weeks back on the 4hr chart at 3482 on 151020.
On a birds eye view, the MT and LT outlook of the SPX is still uptrend.
This move towards 3176 is ST in nature and corrective. 10% corrections are normal in the course of market lifespans.
A break above 3389 will resume ST uptrend.
STI BEARISH ON ALL TIME FRAMES. WATCH 2448.The STI short signal on the 4hr charts issued on 271020 gave traders 2 days to prepare their shorts and trim positions.
The STI short signal on 281020 the day charts was the last line in the sand to trim positions.
STI gapped down on 291020 to test 2448. A break and hold below 2448 will test 2200.
Only a break and hold above 2509 will resume ST selling pressures.
The STI has been on a MT/LT DOWNTREND SINCE THE SHORT SIGNAL WAS ISSUED ON THE WEEK CHARTS ON THE 5TH OF OCT 2019 LAST YEAR.
INTEL SHORT ON 231020 TARGETS $39Intel is now under immense pressure targeting $43.33 then $38.96.
Short signals on both the ST 4hr and daily chart points to $43.33 and the short signal issued since the 24th of feb this year on he weekly charts points to further weakness LT towards the supertrend target of the monthly charts at $38.96.
The LT uptrend on the monthly chart where the long signal was issued in 2012 is 8 years in up cycle and seems to be weakening with all the ST/MT indicators flashing a sell. Buyers beware. Profit taking is advised.
SPX WEAKNESS BELOW 3491The short signal issued on 151020 has prevailed throughout the week.
Price action in the cloud is often characterized by high volatility till a breakout from either side occurs.
A break below the 4hr cloud will test 3333.
A break above 3491 will resume the uptrend and test 3550 and 3585 (ATH)
STI TESTS 2516 TWICEThe STI made an intraday high of 2569 on the 13 oct and has since faced selling pressure throughout the week to test 2516.
A break of 2516 will quickly move to 2509 and a close below 2509 will resume downtrend in all timeframes.
A hold above 2516 will test 2569 and may start an uptrend on the daily charts.
SPX watch 3518. Short term pause in uptrend.A short signal has been issued on the 151020 at 3482.
Price action is volatile with the approaching elections and the hopes of a COVID stimulus package from the white house.
The SSSB line on the cloud at 3430 must hold for the uptrend to continue.
A break of 3430 will test 3331.
Alternatively, A break and hold above 3518 will quickly test 3585
STI TESTING SUPPORT AT 2516The STI has paused its downtrend in the ST on 121020 at 2542.
The buy signal on the 4hr charts at 2510 remains valid only if 2516 holds.
A break below 2516 will test 2485 and a close below 2485 will resume downtrend on all time frames to test the lows.
A bounce from 2516 and hold above the SSSA daily charts above 2524 will relieve LT downtrend pressures and start a ST uptrend.
SPX UPTREND ALL TIMEFRAMES BULLISH. TARGETS 3588The SPX has resumed its UPTREND on ALL timeframes.
Target 3585.
Short term support at 3428.
The SPX must trade above the SSSA line on the day charts to maintain uptrend.
A break below 3428 will test 3378.
STI BUY SIGNAL 091020 TARGETS 2547The STI has generated a buy signal at 2520 on 091020.
Immediate target is 2547.
A close above 2547 and hold will generate a ST/MT uptrend towards 2717
Failure to break above 2547 will retest 2510 and resume its MT/LT downtrend.
The STI is in a persistent MT/LT downtrend till otherwise indicated.
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Entry: 1.81690
Stoploss: 1.83279
Profit target: 1.76486
Ratio: 3.28
US SPX relieves selling pressure above 3345Short term buy signal issued on 280920.
A close above 3393 resumes the uptrend on all time frames.
Support is at 3288. A close below 3288 will retest the lows of 3211.
STI downtrend intact. Tries to stay above 2500. 031020.The STI has tried multiple times to hold the 2500 level in the last trading week.
A break and hold above 2510 will relieve the selling pressure.
A range within the downtrend has develop between 2450 and 2510 in the ST
A test of 2450 is still imminent.
STI Venture V03 pivot at $19.54 for uptrend to continueVenture had resumed its uptrend with a sharp parabolic ascent to $29.50 from Aug 2016 to Mar 2018.
Pivot : $19.54
Buy on a break and close above $19.54
Target $29.50
Stop Loss : $18.92
STI downtrend struggles to break above 2500The STI is into its downtrend for 15th weeks now since the 24th of July 2020.
2500 level needs to be reclaimed and a close above 2520 will negate the correction.
The downside target of 2200 in the MT/LT remains a viable target if a sustained recovery above 2520 and 2551 fails to materialize.
SPX pivot at 3344 to pause Correction The SPX attempts to make a break above 3344 to pause the recent 10% correction from its recent highs of 3591 early Sep.
A close above 3344 on the 4hr charts will confirm the end of the correction and may test 3392 to resume the uptrend in the M/L term timeframes
Alternative, a sustained close below 3344 will retest the lows of 3211.
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Multiple Time Frame Analysis show an UPTREND in all timeframes from the 4hr to the Monthly
Price trades above the Supertrend line on all time frames : UPTREND
Price is UPTREND above the Ichimoku Cloud SSSA/B lines
Technique : Aggressives buy when price retreats and bounces as close to the Supertrend line as possible and place stop loss on the SSSA line . Once price clears the Supertrend line comfortably, raise your stop loss to the Supertrend line.
Conservatives buy when price breaks through SSSB line and re-emerges from below to above the SSSA line. Buy on the first candlestick close ABOVE the SSSA line.
Target Price/EXIT : Sell only when your stop loss is hit = Supertrend is violated. If your initial trade had been successful, a raise of your stop loss from the SSSA line to your Supertrend Line would have given you a risk free trade covering your commission and cost of your trade.
SPX correction intensifies in the short termA close at 3329 in the SPX sits exactly on the SSSA line of the day ichimoku cloud.
A test of the base of the cloud is imminent. The baseline forms support for now. The Teken level on the weekly charts is at 3350, this has been violated giving way to more weakness.
Bottomline: A resumption in the uptrend must see a bounce from Friday's close at 3329 to 3375 for the MT/LT uptrend to resume. A break and hold below the SSSB line on the Day charts may signal a corrective move to 2973, The Supertrend line on the weekly.
