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Dow Stucked in side ways.On 1st May after forming bearish shooting star pattern Dow had made new lower high trend at 33652. Dow after giving false breakdown below 50 DMA on 16th May Dow was not able to break above 20 DMA (red line ). Instead it made new lower low yesterday( as per today's candle stick.) As per chart Dow is stuck b/w 20 and 50 DMA in small range. MaCD is in neutral zone . When any index or stocks makes big move , it starts loosing its volatility and becomes neutral, starts trading in small range for days or weeks and again makes a big move there by increasing volatility. Dow is in same phase. Diff b/w high and low was 1200 point from 1st May till 16th May. From 16th may to 19th may Dow is trading in 600 point range. Yester day Vix was 16 and today it's 17. So slowly vix is increasing. So if Dow have to move above yesterday high for up move and above 33800 for down trend reversal and below 32900 for uptrend reversal.
TVC:DJI
by Trendz9
Nifty on verge of breakout. 1. From 1 Dec 2022 till 8 March Nifty had made lower low and lower high. 2. From 16 March to 27 March Nifty had made 3 bottom @ 16800, and reversed the trend, making higher low and higher high till 15th May. 16th may it was unable to make new high , instead made double top@ 18475 and retraced three day making lower low. On 19th may shooting star pattern was formed after 3 days corrections and confirmation pattern next day reversing lower low pattern. 3. Resistance of double top @18500 if taken away then 19000 and higher levels could be on board in few days. 4. MACD is still sell and till MACD not giving buy signals upper level could be delayed. 5. With Nifty in uptrend shorts should be avoided and long position is above 18500. 6. Nifty had retraced 0 .786% of down fall from 19000 to 16800 . Above 0.786 nifty had potential to give high of 19000 and could extent upto 1.618 @20400.
NSEIX:NIFTY1!Long
by Trendz9
DXY falls moreFED powell has been made a serious impact to the dollar index which was overbought because of the huge supply to the DXY.BUT dxy has not touched the valid area to sell .so we could see a simple upside move ment then it falls down .. By the way DXy has been retraced about 38.2 in fibo levels and also the market had closed when it was retracing so that could be higher probability to come upside and hit tha valid zone move done Overall trend may down f it breaks the trend line. GOOD AND DOLLAR LUCK
TVC:DXYShort
by rasindu2003
NDX - The upcoming testI have done a lot of research over this past week. Almost everyone is extremely bearish about stocks / assets in general. Pretty much any indicator of sentiment that you look at indicates panic. In fact, we seem to have reached a record for fear levels. In the 2008 financial crisis, there were frequent news reports about the housing slowdown by 2006. It was a well-worn issue by 2008, but most leading economists said that the housing market didn't have to be connected to the economy or stocks. I mention 2008 because many of those who are bearish see that we are correlated heavily to the 2008 pattern. If we are, then around next week we should see a fast, substantial decline. However, at this point in the cycle, the crisis was obvious. Banks were actually going bankrupt. Some had been losing billions since Q1 2008. Now, if we get a special surprise report or something, this could all change, but that is true of any market. It seems to be a foregone conclusion that we will go lower. As you can see on the chart, we have cleared the swing low from June and have held below it. There is nothing further to look at... right? The thing is that we have not had an adequate test of this downward move. The indices are down 6 days in a row. There seems to be no upside, even intraday. Let's think about what it could look like if we suddenly rallied 10% in a day or something like that. It would look like an obvious double bottom pattern on any longer-term chart, like a weekly chart. Last week's bearish pin bar doesn't have any effect on this. It would also coincide with September 2020 swing lows. On the S&P index it looks even a bit stronger because it has not fully tested the lows from several days ago. This sort of pattern could play out if we somehow get a bullish CPI reading, and we will find out in a few hours. I also want to mention that during economic slowdowns, like the 1970s "stagflation," stock prices do poorly. However, during just periods of high inflation, stock prices do well - and they do a little bit better, on average, to account for inflation. If we get some sort of stable, 4% inflation environment, then your money is certainly safe in the stock market. Right now, earnings have not come down. By this point in 2008, earnings growth was already negative year on year. Earnings growth for companies has slipped, but we are not even close to negative territory yet. Everyone is expecting further bad things. However, for anything catastrophic to happen, there has to be either: A real crisis like 2008 / 1973 Delusion like 2000 / 1929 Since everyone is so bearish about the upcoming CPI, you can expect that even a mediocre CPI could send the markets higher, which could also trigger that pattern I outlined above. A "good" (low) CPI would probably cause some enthusiasm (though this seems unlikely with today's producer price index) The point is that the chance of the bear market coming to an end here is much higher than people anticipate, and we should be able to find out in a bit. However, if we just keep going lower, this will prove that the crowd is always right and you can keep on selling. Good luck!
NASDAQ:NDX
by roxythetradermage
1
Elliott Wave View: S&P 500 (SPX) Has Started Wave 5 Higher Short term Elliott Wave View in S&P 500 (SPX) shows the Index ended wave 3 at 4186.92 and pullback in wave 4 ended at 4048.4. Internal subdivision of wave 4 unfolded as a zigzag Elliott Wave structure. Down from wave 3, wave ((a)) ended at 4089.72 and rally in wave ((b)) ended at 4148.3. Final leg wave ((c)) lower ended at 4048.47. The Index has resumed higher and broken above wave 3, confirming that wave 5 has started. Wave 5 is unfolding as a 5 waves impulse structure with an extension. Up from wave 4, wave ((i)) ended at 4147.02 and pullback in wave ((ii)) ended at 4098.92. The Index then resumes higher again in wave ((iii)) in 5 waves of a lesser degree. Up from wave ((ii)), wave (i) ended at 4147.32 and dips in wave (ii) ended at 4099.12. Up from there, wave i ended at 4141.25, wave ii ended at 4109.86. Wave iii ended at 4186.2, wave iv ended at 4160.04. Final leg wave v is expected to end soon which should complete wave (iii). Afterwards, it should pullback in wave (iv) before the rally resumes again. Near term, as far as pivot at 4048.47 low stays intact, expect pullback to find support in 3, 7, 11 swing and Index to resume higher.
SP:SPX
by Elliottwave-Forecast
NASDAQ 100 WCA - Rectangle Pattern Index: NASDAQ 100 Index Exchange: NASDAQ Introduction: Greetings! In today's technical analysis, we're examining the NASDAQ 100 Index on the weekly scale. Although we're not hunting for a fresh breakout, our goal here is to estimate a possible price target based on the index's recent price action and established technical patterns. Analysis: The NASDAQ 100 Index was previously in a distinct downtrend, as demonstrated by the downward-sloping blue diagonal line. This trend shifted into a consolidation phase characterized by a Rectangle pattern. The upper boundary of this Rectangle is at 12,757.70, while the lower boundary sits at 10,698.84. Each of these levels was tested twice before the price broke out to the upside on the third attempt, supported by the 200 EMA. Having witnessed a notable price increase in recent weeks, investors might be wondering where the index could potentially head next. According to the Rectangle breakout, the price target for the NASDAQ 100 stands at 14,834. This represents a potential upside of about 16.5% from the breakout point. Conclusion: For those who have yet to identify specific stocks within the NASDAQ for investment, it may not be too late. Given the recent bullish breakout from the Rectangle pattern and the calculated price target, the NASDAQ 100 Index seems to offer promising potential for continued growth. As always, remember that this analysis does not constitute financial advice, and investors should perform their own research and incorporate risk management strategies. Thank you for reading this analysis. Please like, share, and follow for more market insights. Happy trading! Best regards, Karim Subhieh
NASDAQ:NDX
by KarimSubhieh
SPX: Denial on Denial.SPX: Denial on Denial. There are too much facts going on for anything else to happen than this. where should I even start. Highest debt ever above 140% for US. No increased debt ceiling. Yield curve topped out. Bonds needs to get bought. Inflation coming down harder and unemployment increasing rapidly. Core CPI is larger than CPI. harder for households. More house on the market than ever. Households are not getting sold. VIX expiration today 17e. Biggest expiration in QQQ, SPY, IWM, VIX expiration 19e this week. FED PIVOT is already here. When that happend in history, Recession has always followed. More outflow in stocks than inflows. Options is the only one saving the market till everything expire and the short bag is to great.
SP:SPXShort
by PivotX
2