US30 BEARISH DYNAMICSDow recently bounced off the support and retraced to the monthly pivot before dropping back to the support.
A small retracement may happen at the beginning of the week before gathering enough momentum to break the support and head towards 31700 initially.
Wallstreet
S&P 500 Daily Chart Analysis For May 6, 2022Technical Analysis and Outlook
The downtrend as specified in Daily Chart Analysis For April 29, 2022
to Major Mean Sup 4070 is firm and concrete. Down movement continuation to Next Outer Index Dip, 3990 must obsolete the Major Key Sup to continue - we will observe and track this the following week's session. Interim bullish moves are possible within the current downtrend.
Bank of America - it will be a great again like USA? hi,
we have a big problem, because when I look on the Simple Wall Street application I see that lot of managers from top banks sold their stocks of their own banks. I think: Citi, Goldman Sachs, GP Morgan,
Please read also ZeroHedge article about banks in USA, only to summarize it: we have to wait to October to see where will be the index of SPX
in Poland we say - without banks there is no hosanna, bullish market.
There is great back in stocks, lot of selling, people are right now on the cash sitting.
I think that looking on Fibonacci - 25 will be tested, o 20 USD?
Also look if there are more PUT or Call Options.
It is better to wait right now and wait for any signal that it will move up back, on all the market, not only on one stock
There will be up and down, hills and bottom, remember that next hill must be above last one that we can say that market will move then up...
Also there must be a calm down - no more sliding down in quick time ...
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Wall Street Will Target 31000 By SummerLooking for sells over the next several weeks as Wall Street ended the quarter bearish. We should expect monthly continuation in the bearish direction allowing for the weekly to trend lower. At 31000 the weekly is exhausted and I expect a monthly retracement to the upside short term.
US 30 below the supply zone
US30 is currently below the supply zone of 34500. We can target 34000 from here if the price breaks below 34500 and give a daily closure below this level. My target is 34300 and 34000.
If you like this or if you think the opposite of this or if there is any other opinion, mention it in the comments. I am open to all kind of suggestions and critics.
CITIGROUP: earnings coming soonNext week will be published the US most important banks earnings and among them, Citigroup is for sure the one with the best focus. In particular, the US bank is the one with higher exposition in Russia: almost 10 billion dollars.
So, what can be the next scenario?
I'm short on CITI due to both fundamental reason and technical reason:
We are in a short trend, so basically, being trend follower, I will search for retracement to be in.
CCI oscillator gives long signal plus bullish divergency on the price. This can give the necessary boost to the stock to retrace up to 56-58 dollars before getting back to its lowest price.
Long Tesla after Musk's speachTesla, before reaching next highs at around 1190$, can retrace until the first area, that we can visualize in the green rectangle, that covers the price range of 940-1000$. In addition, the bearish divergence upon the CCI oscillator can accelerate the price retracement.
The 200 average shows how the long term is still bullish and Tesla could be above it for the next days confirming its strength.
From a fundamental point of view, the company estimates to sell more cars than the previous quarter although the electric cars industry has faced a serious issue in supplying chain.
NAS Weekly ForecastSweet Dreams Traders, this weekly forecast i can see the market to continue bearish until it breaks a Lower High. Which it hasn't on the weekly and daily timeframes yet.On the 1hr showed a little manipulation move, where it did break a lower high but then rejected back to the downside. Im expecting this week for bearish setups to the weekly's low which is 13024.4. Have a great trading week and comment down your thoughts.