S&P - Support is at 5070 or 4747 ?S&P would have fallen even if Trump didn't announce new tax on other countries. S&P has reached all my previous targets and there was no higher target left without a correction now. And this correction was expected fall and its been so steep and fast only due to new flow about tax. It has broken few previous support levels and from now first support coming at 5070 which is rising wedge target and also near to fib level and 4747 is ABC correction target which is the maximum low or correction can be expected in normal situation. In my view tax on other countries only supports domestic growth and in coming months US GDP will keep increasing only. so the latest tax news is supportive thing for equity market in 6 months to 12 months for sure. Use this for educational purpose and consult your advisor for any investment or trading. I am trying my best every time to time the market to help others.
Spx500forecast
spx fake flag ? dont get trap4200 has confirmed as new base and good support for medium time frame (1h)
after the retest price followed and formed higher high and higher low
currently halting near 4400-4300 zone price seems to consolidate
many of us looking it as flag and pole and will look to buy on trend continous
as a fib retracement there is possible less probablity to gain good risk to reward on long side
rather let price retrace from 4450 - 4460 zone and look for buy on pullback
SPX 500 analysis simiar to NASDAQ, it too needs ti sustain above 20 september highs to turn Bullish from curent bearish trend !
If one Observe carefully, they will find that despite the counter breaching 20 and 50 EMA levels, in last 3-4 cases, despite there was no NEGATIVE crossover like its seen recently
thats worrisome
Crash Ahead !!!Upper part of an Gramophone Pattern
E 3823
sl 3865
T trail
if the prices start to move down it could crash 50%.
Reason to go Shorts:
Upper part of the big picture Gramophone Pattern
Prices are into Weekly Supply zone
May Form the Head and Shoulder Pattern.
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