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ABC Corrective Phase or D Impulsive Wave Completed ?On Daily Basis: SPX (S&P 500) is currently facing a strong resistance at 4170 and also the retracement of the fall which could be D Impulsive wave. 200 DMA is at 4338, another resistance. Level of 4145 is 50% retracement of C Impulsive wave down and currently it has closed on week at 4145. RSI made a double bottom on weekly basis and turned its trend upwards. SPX is at neutral zone right and there could be a decisive move either side which could be massive. All the major world indices and precious metals have corrected in a similar fashion, and waiting for a decisive move. SPX breached 50 DMA and any sustainable move above 4170 could indicate a trend reversal, we may witness a bubble rally. It is at a crux point and difficult to determine a trend. Any major decisive move upward may prove that ABC correction wave of entire Bull run from COVID low in March 2020 has been completed. Secondly, SPX should fall immediately which should be fast and swift, then we can say that D impulsive wave is over with E impulsive wave in progress for capitulation. Right now view stands neutral. Warning and Disclaimer: Above prediction should not be taken as financial advise, it is a personal opinion. Consult your financial advisor. Investment is subject to market risks. Past performance is not the guarantee for future performance. It is for educational purpose only.
TVC:SPX
by AnkurSharda3
1
S&P 500 in D Impulsive WaveOn Weekly Basis: S&P 500 has already retraced 50% and it may extend to 61.8% retracement at 4216. It has also resistance of 200 daily moving average at 4346. It is a rally within the bear cycle where complacency exists. The real end of bear markets ends with capitulation which may end at 3100 to 3450. Bear market correction rallies are sharp and swift. Amazon, Apple, Tesla and many other stocks have opened with huge gap and sustained rally. Impulsive D wave is continuous and extending higher sharply. Sell on rally. Warning and Disclaimer: Above prediction should not be taken as financial advise, it is a personal opinion. Consult your financial advisor. Investment is subject to market risks. Past performance is not the guarantee for future performance.
TVC:SPXShort
by AnkurSharda3
S&P 500 in 5th Wave and C Impulsive Wave of Correction (Weekly)Analysis on Weekly Basis: S&P 500 started its 5th wave downward and C Impulsive Corrective Wave which is the final and violent end. This is usually the end phase of downfall and time to buy after completion of downtrend. 50% Correction of Bull run from Covid low to 4800 is coming nearly at 3400 to 3500 on S&P 500. It rallied from 2200 (March Low 2020) to 4800 (Dec 2021). Downtrend may extend upto 3250 level on intra-week basis. There is a strong support between 3250 to 3500 which is the top made on February, 2020 and a consolidation zone made on August to October, 2020.
TVC:SPXShort
by AnkurSharda3
2
The trend is your friend... The trend is your friend, until it bends. I propose investors should consider the risk that we're at the end of a major bull market that has spanned at least 30 years and we'd be due to enter into a net bear market of not less than 5 years. The crashes of 2000 and 2008 being only the flat correction of Elliot wave 2. Our "Roaring 2000s" rally from 2018 being the strong wave 3. All of the chop and false breakouts of 2018 - 2020 being our big messy wave 4. The parabolic run into a new high in 2021 and the entry of lots of new people to the market being our wave 5. And now, the crash creeps in. We're into the start of the A leg. Soon the more subtle nature of this sell off will turn into a more obvious crash.
SP:SPXShort
by holeyprofit
S&P 500 INDEX S&P, After impulse move in 1-2-3-4-5 waves on weekly chart, now we have witnessed entire fall as a leading diagonal as a wave A, and now we are in wave B, possibly it can retrace up to 38.2% of wave A entire fall, or maximum up to high of wave 4 in wave A, these levels are pegged near 4050 and 4177, all other parameters are supporting same bias to go long, which are shared below as a snap shots. Here is a trigger point to go long. RK's mass psychological cloud buy activated, along with support of RK's stop line, and also RK's momentum Buy activated. Overall wave structure on Weekly chart Current fall was in leading diagonal may be retrace upto 38.2% or wave 4 high of recent fall reversal chart pattern head and shoulder on hourly chart Breakout with good intensity of Volume in hourly chart macd positive in hourly above zero line macd uptick and ready to cross positive in daily chart Bullish Divergence rsi uptick in daily chart Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
SP:SPXLong
by RK_Chaarts
2