For Wednesday Sep 6, 2017
S&P 500 (SPX)
Above 2462.1 Go Long For Targets 2466.8, 2468.9, 2473.8, 2480, 2482.7, 2486.9
Below 2453.6 Go Short For Targets 2448.9, 2446.8, 2441.9, 2435.7, 2433, 2428.8
Time cycle can be applied on any chart, it gives you approx zones on time axis where you can expect low or high...
This is not for trade decisions, just shown Time cycles can be used if you are interested...
Happy Weekend,Enjoy... :)
One can go long in the spx at cmo of 2337 for an intraday target of 2349 and beyond. I am expecting the spx to go back and make new life time highs from here on.
On daily charts 25 day ROC of SPX has entered into negative territory. Which indicates that momentum in the short term is weak which will drag SPX down.
My Take - At this point it is very dangerous to carry long positions in the market as much waited correction is highly probable.
Second week of weakness for the US index. Looking as the first two lines of support coincide with the Fibonacci retracements. Do not open long positions if not in the presence of a reversing candle. If you have a short position open before watching the area in 2280 and then 2200. Good luck
Two big events lined up in Dec (Fed rate hike) & Jan (US election results). Huge volatility is expected going forward. With Global Equities near their ATH's, large players would like to book profits & hedge their long positions which implies negative view on global equities in the coming months. Sell on rallies is already going on for last two months. If crucial...
Previously I was considering only a bullish count in which the Wave 4 was completed but here I have analyzed an alternate count in which I have discussed the downside possibility.
Which count will play out will soon become clear but if the downside plays out then we can see targets around the 1800 mark.
To be more precise the expected targets are -
Target 1 :...
