The correction back to the primary trendline has started.. i had to to dust off the 100sma for a lot of stocks and indexes. Overalll technicals tell me we are headed lower than last week lows but a nice dead cat might be here near term. Dow jones Held that 37,800 support all week and finish the week with a break out of its down trend Looking for a short term...
New Thread ok everyone our levels for April 21st are Bulls calls over 502.50 price target 504-505 max508 maybe unlikely wouldn't count to much on the upside targets Bears short everything under 502 price targets 495-490-485 and as low as 480 this week my scenario playing out this week is a range 488-500 max this is what I anticipate the week forecast stuck in...
US stocks, led by mega cap tech companies and the NASDAQ writ large, started 2024 on a hot streak. But as momentum slowed, an arc pattern supporting the market became clear, only to be decisively broken. Analysis of key support and resistance levels provides price targets for the coming weeks.
Hey everyone, Wasn't going to post actually, despite promising haha. The chart is very unclear, there are no HA indications of direction and I am not a strong believer in trendlines (Which is why I completely ignored the major trendline in my last week idea when i said SPY was going to 504, had I cared about it, I would have been bullish, so you see the problems...
From a technical perspective, there hasn't been a definitive signal indicating a trend reversal for the SPY 500. Back in May to October 2023, the SPY exhibited a clear "M" pattern or double top, experiencing a drop of approximately 5%, retracing back, and then dropping around 10%, forming the M pattern. If we compare this M pattern with the current price action,...
if it dont go above 512$ then we can see 470$ coming month.
Classic trend reversal retracement -Bear flag directly into one of the last imbalances (on 30m timeframe) - Breakdown to 393 area very possible in the next month or two - ~10% drop from current levels, would put QQQ squarely in correction territory - Upside is that 393 area looks to be a very strong (and fresh) support
Looks like AMEX:SPY will go down after bouncing off the 20 DMA. Bears rejoice!
We are in the middle of a bulls rally. But still in bearish territory. The 510 level is going to be very intense to watch. If the bulls manage to break up and consolidates above 510 bears are dead. I'm not shorting anything yet. I'm just sitting and looking at my long positions.
The chart posted is what I see forming within the correction phase . as you can see the Dia and Iwm are showing some real sights of weakest the game of musical chairs one by one drop off So far best of trades Wavetimer
We should stay in 502-508 range today, consolidate. First move in the morning could be down. 508 is a strong resistance. I am wondering if we do another leg down or do V. Usually ACB should have another leg, but the move yesterday was strong, so I am 50/50 sitting on the fence.
Bollinger Bands and Stochastic are suggesting that downward movement in AMEX:SPY
Here we gooooo. Institutional order here, nice wick out of supply zone. Classic drop base drop, 2-3 days out... $2-3 OTM. Lets get it.
Alot of chatter about bonds breaking upward. But I'm thinking there may a short term bounce on the tlt - Looking at May 10 $89 - $89.5 - $90 Calls Lotto contrarian play - Ill see what they do in the morning
Price of SOXS since inception. Price in 2012 is not a typo. Adjusted for reverse splits, shares declined from $11.1m to $3. Eleven million, one-hundred thousand dollars became three dollars in twelve years. Bear etf funds do not contain equities. They consist entirely of futures contracts, which suffer time decay and expire. This is the effect of time decay...
50sma - strong support / resi Below - market is bearish Above - market is bullish
I see the bulls in the market attempting to cause us bears to panic. I believe this will be a short term "rally" that will only be the continuation of the downside trend.
Treasury bond TLT has been trading lower since the start of 2024, but after an impulsive rally at the end of 2023, we believe it's just making and finishing a deep A-B-C corrective decline. It's actually now coming into key strong support zone at 61,8% - 78,6% Fibo. retracement and channel support line, from where we should be aware of bounce, recovery and...