I won’t start this analysis with a “I told you so”, because this would be too cliché. In my last SPX analysis, I warned you about how bearish patterns in the daily chart often are just a correction or pullback in smaller timeframes. And that’s exactly what happened today. If you missed my last analysis, the link to it is below as always.
The possibility of a shooting star was real, yes, but that’s the fourth bear trap we avoid by using this simple strategy. That’s how a multi timeframe analysis works, and that’s why I always like to keep things simple. The price hit its supports at the pink line (previous top) and the 21 ema and the trend resumed, as usual.
There are no surprises for us here, and I’ll quote what the technical analysis’s father said about a century ago: “Trends Persist Until a Clear Reversal Occurs”. That’s why I’m a bull for more than a month now, and I’ll keep bullish until the bears appear. Simple. Check the links below to check my analyses about some stocks I own, and check my social media too, since I can’t post everything here!
Until then, there’s nothing here that convinces me that a bear trend will begin. Let’s take a look at the daily chart:
The trend is still clearly bullish.It's been years ago since I stopped trying to “predict” the next top - now I just follow the trend. I invite you to follow me to keep in touch with my analyses and if you want to understand better my trading methodology. You guys know that I won’t short SPX, because I’m inclined to buy VIX instead, and maybe we will see something new tomorrow – or maybe not. We don’t know, and we don’t need to know to trade successfully. Some people call me naive, having no idea of how serious I'm at my work.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
The possibility of a shooting star was real, yes, but that’s the fourth bear trap we avoid by using this simple strategy. That’s how a multi timeframe analysis works, and that’s why I always like to keep things simple. The price hit its supports at the pink line (previous top) and the 21 ema and the trend resumed, as usual.
There are no surprises for us here, and I’ll quote what the technical analysis’s father said about a century ago: “Trends Persist Until a Clear Reversal Occurs”. That’s why I’m a bull for more than a month now, and I’ll keep bullish until the bears appear. Simple. Check the links below to check my analyses about some stocks I own, and check my social media too, since I can’t post everything here!
Until then, there’s nothing here that convinces me that a bear trend will begin. Let’s take a look at the daily chart:
The trend is still clearly bullish.It's been years ago since I stopped trying to “predict” the next top - now I just follow the trend. I invite you to follow me to keep in touch with my analyses and if you want to understand better my trading methodology. You guys know that I won’t short SPX, because I’m inclined to buy VIX instead, and maybe we will see something new tomorrow – or maybe not. We don’t know, and we don’t need to know to trade successfully. Some people call me naive, having no idea of how serious I'm at my work.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
🔴 Only 5% of traders manage to beat the market.
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💪 Public track record.
👉 Join the 5%: thefinancehydra.com/
💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.
