ES1 looks like could form a rising wedge to then fake out above, hit the OB and FIB Channel GP to then come back down. Early days need to monitor still.
Downtrend HVN near 4100. Confluence of descending channel in red line. 0.382 Fib also present here. Also acceptance back into prior ascending channel reference here blue line.
After a strong trend reversal, the price has broken through a major support zone, providing an excellent opportunity to short ES1! Investors, best of luck.
Bank nifty moved today quite contradictory to the global moves. Frankly what is happening to India's banks - is there so much positivity to bury the global macros ?
S&P500 down 2.5&, Nasdaq100 down 3.39% and our bank nifty up 0.37% today
Just look the opening 4 candles. Gap down opening at 40873 very near to the support level of 40867 - hits the resistance level...
S&P 500 index futures has completed a falling wedge on 4H chart. Falling wedge is a reversal signal and indicates lack of strength in the bears. Hence, we may see price correct back to 50MA (red line) and the wedge high of 3739.
We will watch for price action as it touches the 50MA. If the price reverses and bears come back at 50MA, bullish bet would be called...
The S&P is in its 5th wave from the high of 4327, nearing the confluence target area of 4085-4075.
Ideally wait till the entire 5th wave is complete (all the subwaves) and wait for a reversal to take a low risk entry.
Targets can be the mid 4200s.
New idea will be updated there
This whole rise has from 3693 low (yes, not the actual low at 3639. Refer: wave 5 truncation) has been a 3 wave move so far.
Wave 1/A has been a clear 5 wave followed by an extended 3/C wave with the iii of 3 extension.
The 3/C wave ended with wave 5 as an ending diagonal.
Now, the fall from the absolute high of 4327 has been impulsive so far with a series of...
What is ViXplosion & ViXcrush?
ViXplosion is a phase during which the VIX rises and ViXcrush is a phase during which VIX cools off.
The last ViXplosion was triggered on 06-04-2022 and the latest ViXcrush was triggered on 16-06-2022.
S&P 500 E-mini Futures ES1! seems headed for a fall just long as it doesn’t break 4200.
All levels mentioned on chart and as follows:
Enter @ CMP 4140
SL @ 4200
Target @ 3940
I expect this index to do this PA for the rest of the year if the situations are not too grim..
A good amount of relief, even tag new ATH before getting a good amount of further correction.
Can be wrong (duh), NFA
As asked by many Indian and overseas traders about Dow Jones. I updated live on social media platforms that a big bear hammer is going to strike dow jones in this week.
As I post dow jones is trading = 27410 with a low at 27402.
Support for dow = 27219-27402
Expectation
Low hit today evening or early morning tomorrow , range bound session could continue for...
