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S&P500 (SPY) Hits Target #2 Today!Traders, though we've still got a ways to go to our final target of 670-700 on the SPY, it is worth celebrating our direct hit of 600 today. I remember a year ago drawing out 563 as a first target for our blow-off top and I was laughed at. Bears were in their mood and hungry. They wanted more blood. But a combo of our Elliot Wave and a daily inverse head and shoulders showed us exactly where we would hit. Then I spotted this nice cup and handle on the weekly. If you remember, it was almost invalidated with that China carry trade flash crash. But I stood my ground and stated that we would need to see another weekly open and close below our neckline before the bet was off. That did not happen and we are well on our way to that 670-700 final target. However, before we get there, I do believe our 600 level on the charts will provide some psychological resistance. Admittedly, this was more of a guess than anything when I had drawn it up and placed it on my chart several weeks ago. But now, we are seeing overbought conditions on both the daily and weekly charts. Are we a bit over-heated? I think we may be and should be prepared to see a bit of a drop, or at least a week or so of sideways price action, before we break 600. Unlike my first target at which I sold and buy the carry trade dip for massive profit, I don't know that I will be selling here. 600, as I stated already, was more of a guess than anything. But I am pretty decent at making these guesses. Experience and lots of psychology and chart study has taught me. Before I get ahead of myself though, let's watch and see what the market decides to do next week. ✌️ Stew
AMEX:SPY
by stewdamus
1
GOLD Technical Analysis! SELL! My dear followers, This is my opinion on the GOLD next move: The asset is approaching an important pivot point 2716.3 Bias - Bearish Technical Indicators: Supper Trend generates a clearshort signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 2668.8 About Used Indicators: For more efficient signals, super-trend is used in combination with other indicators like Pivot Points. ——————————— WISH YOU ALL LUCK
OANDA:XAUUSDShort
by AnabelSignals
2
US30 Will Go Lower From Resistance! Sell! Take a look at our analysis for US30. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 44,614.35. Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 43,793.35 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
VANTAGE:DJ30Short
by SignalProvider
1
EURUSD Will Go Down! Short! Here is our detailed technical review for EURUSD. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 1.048. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.033 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
NZDUSD Is Very Bearish! Sell! Here is our detailed technical review for NZDUSD. Time Frame: 2h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 0.582. Considering the today's price action, probabilities will be high to see a movement to 0.578. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
USDCAD Under Pressure! SELL! My dear subscribers, This is my opinion on the USDCAD next move: The instrument tests an important psychological level 1.3989 Bias - Bearish Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 1.3975 About Used Indicators: On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
NATGAS Set To Fall! SELL! My dear friends, My technical analysis for NATGAS is below: The market is trading on 3.122 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 2.910 Recommended Stop Loss - 3.241 About Used Indicators: A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. ——————————— WISH YOU ALL LUCK
NYMEX:NG1!Short
by AnabelSignals
1
USOIL Will Collapse! SELL! My dear subscribers, USOIL looks like it will make a good move, and here are the details: The market is trading on 71.12 pivot level. Bias - Bearish My Stop Loss - 71.78 Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 69.89 About Used Indicators: The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility. ——————————— WISH YOU ALL LUCK
TVC:USOILShort
by AnabelSignals
2
APPLE The Target Is DOWN! SELL! My dear followers, I analysed this chart on APPLE and concluded the following: The market is trading on 229.82 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 226.87 About Used Indicators: A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy. ——————————— WISH YOU ALL LUCK
NASDAQ:AAPLShort
by AnabelSignals
1