We could have completed wave 3 (c) ? Possibility we would the level marked @16815 before moving up.
Marking for wave 4 has been done by me chart shared. HOMEWORK: One can do the previous marking till wave 4 (Self Learn)
We are not into SPX however, I am sharing chart for learning purpose. I strongly feel 200 MA will act as the...
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...
SPX buy here and dips up to 3940 with Stop and Reverse sustaining below 3940 to recover loss.
Confirmation sustaining above 4040.
Initial targets 4100-4150 to make position free of cost.
Sustaining above T-2, increase target to 5000. Positional..
The analysis is there in the chart and it is self explanatory!
There is a specific indicator that is giving a high probability of DOWN movement.
Disclaimer: Consult your financial adviser before investing.
Note: I am not a financial adviser.
Conclusion: You are responsible for your own trades!
🥂 Cheers! 🥂
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.
On Daily Basis:
SPX (S&P 500) is currently facing a strong resistance at 4170 and also the retracement of the fall which could be D Impulsive wave. 200 DMA is at 4338, another resistance. Level of 4145 is 50% retracement of C Impulsive wave down and currently it has closed on week at 4145. RSI made a double bottom on weekly basis and turned its trend upwards. SPX...
On Weekly Basis:
S&P 500 has already retraced 50% and it may extend to 61.8% retracement at 4216. It has also resistance of 200 daily moving average at 4346. It is a rally within the bear cycle where complacency exists. The real end of bear markets ends with capitulation which may end at 3100 to 3450. Bear market correction rallies are sharp and swift. Amazon,...
Short with a stop-loss of breakout above the red channel.
If this short trade works out, go all out if breaks down below the green channel.
Stop loss is relatively small at this point, but better to wait till end of the session to see whether this red channel is being taken out today itself.
S&P 500 appears to finish its pull back and is now set to resume lower. The Ideal target will be a new low to the recent swing. Additionally, the Fibonacci levels proportion to previous moves has been shown. The RSI is falling to take off the equilibrium zone in the pull back indicating weak to sideways bias.
SPX go long with SL daily RSI close below 31.45.
We are seeing a running Triangle formation with Bullish Divergence in Daily and Weekly RSI.
Confirmation is too far away, so need to enter here to make it a good RR trade.
Low risk traders can enter here with SL, new low in daily RSI below 31.45.
High Risk traders can have a bigger SL, new low in Weekly RSI below...