These are the most clean price action based Elliot wave chart I found during analysis I hope everyone can take guidance from it
This is my analysis on this following pairs watch and see how the market seems to be respecting my setup
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S&P 500 nears to the edge of a rising wedge structure with negative divergence in RSI on daily charts with loosing momentum upside likely to retrace downside with probable support levels marked as horizontal lines
- SPX looks over extended to me - All US Indices look over extended to me but you can't short it anyways - The whole playout here is based on catching retracements and not shorting anything - IMO trade less unless you find an A+ setup
A trading strategy with sound money management. Feel free to use and edit at will. This strategy currently works well in btc, spx and nifty50.
S&P 500 run to upside continues with the High of 5111.06 on Friday 23 feb 2024 at 19:30 IST. Hourly buy triggered above 4744.35 with a decent rise thereafter. Oure level to watch is 5119.79 on the upside. Above it nearby targets of 5307.51 on the upside. The level on downside to watch is 5052.21. Time to watch is 28 Feb 2024 00:30 IST. Happy Trading !!!
S&P 500 is the most advanced and most trade market and also most matured market to analyse and trade. You need the qualities of a seasoned campaigner to tame the beast. Here is where Gann Trading Systems can help you a lot to understand it. Look at the chart above. We got a double bottom on hourly charts at 4819.09 on 05 Feb 2024 at 20:30 IST. Another bottom at...
On Weekly Basis: S&P 500 (SPY) completed its correction from 4800 to 3490 in its 5 Wave Down. Fibonacci 50% retracement from bottom 2300 to top 4800 ends at 3540, a support level in October, 2022. It took a support at 4115 which is a long-term horizontal support with multiple pivots on weekly charts. It looks like a fresh new Wave has just started from 4115...
S&P 500 has made a new All Time High at 5030.06 at 00:30 IST on 10 Feb 2024. Short term buy came it at 4928.97 Gann level at 20:30 IST on 05 Feb 2024. Level to watch on upside for resistance is 5052.40 at 50% levels seen on chart. 5026.50 is square nine level to watch with resitance as per it at 5046.75/5055.87. Staying above 5010.45 is must for momentum. Happy...
- SPX has shown us a parabolic rally - It's better not tp short SPX without a strong confirmation - Look to Long Spx once you see a nice retracement to the origin of the move
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I had posted this chart of the SnP some 5-6 months ago I think. Many who read my posts here would remember . If any of you think we are Going to crack ?????????????? NO.... we are not. Watch 5042 apprxxx for now. A PULLBACK OF 7-8% SEEMS TO ME TO BE HAPPENING ANYTIME NOW. FROM 5042 - 5078 .... A PULLBACK UPTO 4676 APPRXX EXPECTED.
Retracement of 50% level is much confirmed that the trend will extend upto 1.236 mark of Fibbo. That will be the Peak of this decade. Given that market not willing to makes its u turn as of now but had a long journey till this time that needs a correction of 50% from the last leg of bottom
S&P 500 Index made an ATH at 4931.09 at 1:30 on 31 Jan 2024. Thereafter has fallen to the cluster zone support at 4836.40 and 4845.04. Actual low was at 4845.49 at 1:30 IST on 01 Feb 2024.We saw consolidation at the same cluster zone on 2223 Jan 2024. Currently trading at 4906.19 at 6:34 IST on 02 Feb 2024. Gann students know the important of Big Round Number BRN...
The breadth measured based on the number of stocks above or below the 50dma can be a good sentiment indicator. Weakness shows lower market participation at new highs and should set it up for a correction. Diffusion indicators like this are sometimes useful, especially while gauging the short-term trend.
SP500 weekly Gann levels have worked beautifully till now. 75% level was 4695.83 worked as weekly support with one week against the trend which was up. Recent weekly low was 4682.11. Note 18 Dec 2023 low was 4697.82 above which were back in the game for further upside. Again the level of 75% was or guide to go long at 4695.83. Above this level we had a target of...
S&p 500 index currently trading near its all time high, and perfectly made the evening star pattern at this strong resistance, looking positionally bearish. Note :- Not any recommendation, just sharing my view for the s&p 500 index. Do follow for more market updates. #globalmarkets #s&p500