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SPX daily candle analysis 3/10/15For my analysis for Tuesday's trading, I am anticipating a move down. The market failed to get back to 2088 yesterday and breathed more life into the sellers to take this lower. I am looking to see this test out the low 2050's. The MACD is in favor of the bears. The stochastic however is approaching oversold. The price pattern isn't too bad as it stands now. The channel is still in play and this may very well be just another day in the neighborhood. Until the channel is broken, the market will continue its move up.
SP:SPX
by Wincreaseteam
1
Death Cross on $RUT $IUX makes the hunt for red octoberOn Sept 20th, we posted on our StockTwits about the formation of an Evening Star pattern. The Russell 2000 index managed to also form a death cross on the same day the Evening Star pattern was formed. This typically spells out danger for the future. As the indicators reach oversold territory, there is a chance buyers may bring it back up to the 200 day before this finally breaks lower. The 1100 support will probably be tested first.
IShort
by Wincreaseteam
$SPX daily candle analysis 8/15We took a day off from doing our candle analysis but we are back! The market continues to surge from its low as it has done the prior 3 times. This one will be no different. We were wrong on our last two predictions because we were looking to see the market continue to sell off instead of reading the chart like we have been. You have to do your best to not allow your judgement to get in the way. The $SPX is now above the trend line that caused its fate 2 weeks ago and also sitting at the 50 day moving average. With the MACD gaining strength and the RSI as well, we predict today to close positive. We predict it will test 1960 and close above.
SP:SPX
by Wincreaseteam
1
$SPX Daily Candle Analysis 8/13Our last prediction was wrong. We predicted that today would close positive and near 1940. Instead, the $SPX closed negative and further away from 1940. It did test the 1940 resistance early and then proceeded to move downward and test 1930 support. Buyers came in and gave it a bounce from the support level and it closed around 1934. Our candle analysis predicts that Wednesday's trading day will close negative. The MACD is still in seller control and Monday's trading gave a hint that higher prices will be rejected. We predict the market will fail 1930 and possibly give back at least half of the gains from last Friday by closing around 1920.
SP:SPX
by Wincreaseteam
1