SPX has possibly completed forming Waves A and B of a complex expanded flat correction, and may be near starting its Wave C. More likely this is the case should TVC:DXY continue up to and above 112-115. See related chart linked below under related ideas. Another possibility is a running flat correction where it turns back up near the 100% fib instead.
Today felt a bit fast. Big day for volatility tomorrow with FOMC. There is a chance that we just fallout from here, but something tells me the bulls want to attempt one more time off this 5026 level.
Today, the chart formed a big bearish candlestick and I personally preferred to close all positions. Is the chart going to touch 4820-4800? I hope not. For now, I will watch the market until I am sure of the upward trend of the market.
Possible Setup. Higher TF is bearish based on price action. Market reacting to fib area. Let's see if the sellers are in for the downside
The SPX has rallied approximately 3.5% since its lows on 19th April 2024 and well into the two-day FOMC meeting that kicks off today. In line with general market expectations, we do not anticipate any change to the central bank’s monetary policy, and just like on previous occasions, we expect Jerome Powell to reiterate the FED’s commitment to fighting inflation...
Sell in May and go away "May" apply this year! We have a wedge break and as my fellow technicians know we almost always rally back for a stubborn fomo bull rally one last "gain" Well... We may get a double top or bottom wedge hit (of course that could lead to overshoot fib extension levels), but eitherway i'm out of almost everything and in UVXY UVIX by end of May! GLTA
The chart posted is my view of the wave structure it is forming . We had two legs of equal in the sp 500 up into 5123 from 4954 .I would be rather bearish BUT cycles are in a time frame coming up and I think I would see a rather complex structure in formation . We have had a.7.3 % Correction >So I have now taken a 40 % net long I did want to add at 5061/5058 ...
Intermediate/ Natural Bearish Initial resistance actived.
Item name: SPX *If you follow SEOVERIGN, you can get an alarm. *Boost gives SEOVERIGN the momentum to analyze more of the other stocks! Nice to meet you. SEOVERIGN - This is SeoVerign. An analysis of the SPX, which has continued to rise along with the Nasdaq, suggests that the uptrend is now nearing its end. If it goes down here, it could be a bit of a big...
I have analyzed the SPX using 2 common indicators; i.e. RSI and breadth above 200d SMA. A very similar setup was seen just before the 2018 correction and the 2020 crash. This recent rally of past 5 months is bigger and more irrational than the previous two rallies. Thus, we should expect a bigger move down over the long-term.
compared to USI:TICK , SPX/NDX is maximally diverged as stocks consolidate most heavily. the difference between indices historically closes quickly, and daily consolidation may have begun to rally the market somewhat. the indices compared to all stocks up/down is beginning a daily bounce due to the amount of money that has gone back into risk assets as they...
The SPX500 has lost momentum since yesterday. If the hourly RSI remains below 50, we may see lower prices in the short-term. Keep an eye on the daily RSI because if that slips it will affect the higher time frame's momentum. This video is intended for the users of Stratos Markets Limited, Stratos Trading Pty. Limited and Stratos Global LLC, (collectively “FXCM...
Rally was short and sweet. Got 0.50. Fibo. Meta cracked it. Was fading all day already after the morning pump; just three up days. C legs typically extend farther and give a 1.62 extension, capitulation and panic prevail. May will be Bearish, at least to start, imo. Need to watch this correction carefully to gauge whether it takes ABC form or a more sinister...
Possible sell swing trade Confirmed trend line on 4H timeframe 5th touch on the line is a 61.8% retracement with a 161.8 projection Price will sell down to 4925 area perfect entry 5108.44 hold and watch for the next few days
AI has no moral code. It doesn't CARE. 50 retrace, rinse repeat 3 X. Black swan just off stage, waiting to take it. Currency wars, imbalance globally, Yen... does Japan save itself or the world economy, does the US come to their rescue and devalue dollar, stagflation is here, does FED lower rates, save the real estate industry the stock market and this...
Wall St to open lower on economic data; Fed decision pending. As long as the price remains above 5080, it indicates a bullish trend aiming for 5115 and 5140. However, a 4-hour candle closing below 5080 will support a bearish trend targeting 5055. Pivot Line: 5094 Resistance Levels: 5138, 5177, 5204 Support Levels: 5080, 5055, 5019 Today’s expected trading range...
Esteemed analysts and traders, I hope this correspondence finds you in good health and high spirits, prepared to tackle the upcoming week with renewed energy. I extend my best wishes for your continued success in all your business endeavors. It is worth noting that success in trading is largely dependent on the consistent definition and adherence to one's own...
Market Condition -S&P is FLAT ; Greater Trading Range making a BCLX, AR and about to complete ST - Phase A CHoCH Market State - There is no local trading range. The next legitimate market for a local trading range is the ST at the bottom of the range. Market Context - No active trading range