* As said in previous update, WCB below 3901_10 opened doors for next support zone - 3636_3675 and made low 3647. Now below this zone 200 WMA may provide some support for time being for some bounce. Although 3636_3675 will be broken & can expect fresh 52 week low after some bounce or before it. More than 5% cut in index once the importance support of 3901_10 is...
Following Facts have come into my View on the SnP500 chart. Very interesting observations for now, and the EW wave counts are as below.
1. 667 to 3393 = 2726 is the differential in price for wave 1, and all calculations will be based on 2726.
2. wave 2 = 3392 to 2191 = it went below the retracement of 38.2% but was well above 61.8%
3. wave 3= 2191 to 4818 =...
It is Imperative we all understand the SnP as well ...... How I see it is well defined with EXTREME LOGIC and the way going forward. On Hourly basis it is extremely Over Sold ( O/S).... and will bounce UP..... to within the Fibs mentioned inside the Rectangle. There is EXTREME FEAR ON THE STREET AND IT IS GOING TO GET MORE FEARFUL ...... ONLY THE BOLD VENTURE OUT...
Depression happens fast !! We should see a crack to 3400 and lower towards the end of the year. Till We don't breach the red zone there is no bullish view on the US markets. WXYX-Z
S&p 500 rsi formed bullish divergence from it support level also previous candle was hammer and candle formed today engulfed the hammer which is another signal for trend reversal
Target :- 4100
Sl :- 3830
Rr :- 1:3
disclaimer :- this is for demonstration and educational purpose only. this is not buying and selling recommendation
For your reference is the Sn P 500 chart...... Notice carefully on a Monthly basis..... even though prices have broken down since the TOP..... the 12 MA hasn't crossed BELOW the 21 yet. Doesn't look tooo Bad to Me. TV provides the SnP chart @ LINE CHART so cant help it. Will give the Targets a few days later on this One.
Currently it's looking that the correction which has started in the Nov'21 is going to end soon.
We will wait how the waves unfolds after the completion of this long time correction.
* S&P500 is in the strong bear grip. As mentioned earlier, fell one sided from 50 WMA to the yellow trend line support, spent 2_3 weeks there with minor bounce & finally breaking down.
* WCB below 3901_10 will open doors for next support zone - 3636_3675. In this case, 3636_3675 will be broken & can expect fresh 52 week low.
* 3480_3510 will be next decent...
What we are Looking is part of an On-Going Impulse structure of Multi Year Bull Market which witnessed 6+ US Presidents Once this Major Top is Made, we can Expect a Bear Market of 10 + Years in the US Markets
I am posting with sense of Knowledge I have, there will be variation in Movements other than Current Forecast,
One who is Holding in US Stocks can Look...
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..
This is especially for CNMZ ( a member here who asked me to explain the Last post I posted), and is just a sort of TUTORIAL and Nothing More.
1. The ORANGE LINE represents 1 whole Leg, called the Larger wave.
2. The BLACK LINE represents the sub division into 12345 waves, within the LARGER WAVE.
3. The wave is therefore Complete in Nature
Earlier chart posted
Refer to that chart
How beautifully support is acting now after achieving our target
disclaimer :- this is for demonstration and educational purpose only. this is not buying and selling recommendation
