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Breadth Indicators

The S&P 500 Could Be Holding a Key LevelMany chart watchers are focused on the S&P 500’s pre-Covid peak around 3393 as potential target for the current bear market. However, the index might have held a different level from another key moment in its history. This chart highlights the 3646, which was the intraday high on November 9, 2020. In case you forgot, that was the day stocks broke out to new record highs on news of Pfizer’s successful creation of a coronavirus vaccine. SPX probed the level by as much as 13 points on December 11, 2020, but closed above it. The result was a monthly high and monthly low around the same price. The index breeched that line by a similar amount last week but quickly rebounded. Is the old support still valid? Second, consider the descending parallel channel in place since late March. It may suggest that a bounce is needed -- even if new lows are still coming. Third, the advance/decline line didn’t confirm the most recent low. Finally, 10- and 30-year Treasury yields are back below their 2018 highs and oil is sliding. That may suggest most of the inflationary news is priced in -- at least for the time being. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
SP:SPX
by TradeStation
BTC Accumulation Phase Testing out a new indicator I found, it's interesting that every time BTC has fallen below the top band, it has stayed in between both bands and moved sideways until breaking out to the upside. At this moment, BTC broken below the top band and even touched the bottom band as support, not sure if we have reached the bottom yet but based on past circumstances and if BTC doesn't break below the bottom band I could say we could be moving sideways until late November of this year.
INDEX:BTCUSD
by Gg23gg53
$BTC OBV I have NOT changed anything to the chart - OBV holding$BTC OBV I have NOT changed anything to the chart - OBV holding Right now the price is going down very slowly (no panic selling, no mega volume) and the OBV is holding, the RSI is super oversold. This is max pain, it means it is max opportunity. I am not saying to sell your house to buy bitcoin now, I am saying the probability to have good entries for the next few weeks, is high. I think we will play in this area until $20k. Then, run it back turbo. OBV is holding and I am happy.
COINBASE:BTCUSD
by Maddrix_club
Officer Omicron and Insurgent Inflation Team Up To Fight the FedScene 1 Darth Powell summons the legends of the past to formulate the plan to fight the Omicron and Inflation insurgence. Brigadier Bernanke, General Greenspan and Veteran Volcker report for duty. “We are at an event horizon, what should we do?” declares Powell. “Pretend it isn’t happening”, says Greenspan “Bailout everything, print more money,” says Bernanke “I killed inflation forever, this cannot be happening,” says Volcker Powell rises from his throne and addresses the senate. "There is nothing to see here. We will continue as normal, and start to cool off our insurgent inflation with the ice bath of interest rates, and the tepid taste of tapering." In the background the sound of screaming. Cut Scene 1. Scene 2. The morning after a sweet night of passion, Omicron and Inflation wake up with a hangover and get to work on terrorizing the economy. Officer Omicron has already infected 30% of the planet and inflation is rampant. Cut Scene 2. Well, that was exciting, but if the global economy was a star wars movie, it would be something like this. A big gap down today, and the short-term outlook is definitely to the downside, with limited room for stimulus, and unlimited room for inflation, virus infections, and lockdowns. Short-term RSI – Nasty KST – Nasty AD Ratio - ouch Choose Your Ending Scene 3. After two hard years the people of Naboo (earth) are battered yet determined to summon the force to fight whatever stands in their way. It will be tough, but we will beat nature and fight to live another day. 15% to 20% drop in equities, a collapse in crypto, followed by a green revolution where we live in ESG harmony. Scene 4. Mother natures death star finally scourges us to hell causing the next great depression, which takes an entire generation to recover from. (Like the 2000 dotcom bust 8-year recovery) Scene 5. Darth Powell farts, and the world goes on as normal 😊 Cast your vote now. Scene 3, 4, or 5. If you like, then hit like. Barry
SP:SPXShort
by liberatedstocktrader
4
1hr to go. Bullish OBV on the 4H for $BTC?These bullish divs in the 4H BTC chart often play out quite well. I'm not excited that we are below the SuperTrend on that timeframe, but the OBV div is set to print in the next 50 minutes. Keep your eyes peeled. Elliot Wave has fully played out as well on multiple time frames. Let's see how it goes. Market feels super heavy except for NEAR and AVAX is holding onto it's POC at around $85. $*7 for AVAx is quite a critical point . REMINDER: It's Friday, a weekend. We have had historically bad dumps on Friday nights when everyone is AFK. Keep those stops tight. Stay safe and rich out there.
Long
by Enigma_Fund
Ketchup Market elken(B)readthHey Traders, Got a little behind in posting some weekly look-backs and wanted to catch-up to this current week. I consolidated the "Weekly RSI Divergence" and the "elken(B)readth" charts into one. We will be looking back at the week closes using my "blocker" rectangle; the obvious black-out on the right side of the chart. I will post from the start of the year to now (which is ~three weeks from quarter end). Flour: Blue is 20 Daily Moving Average Red is 50 DMA Yellow 100 DMA Teal 200 DMA Crust: The $SPX is shown in white. We will be focusing on the RSI divergences compared to the white line. The EMA's are there for reference. Yeast: Look for RSI divergence on the fast moving (B)readth BLUE line. This can indicate an upcoming change in market direction (and in this market it just might mean FLAT). Please bear with me as I will try and post the rest of the weeks in update format to this idea to get us all caught up.
INDEX:S5TW
by elkenpolar
1
$NEAR, easy invalidation on an asset with relative strengthYour job as a trader is to find assets with RELATIVE STRENGTH to this downward trend (if you're long). $NEAR fits that description, for a simple reason: It's at support on the OBV, right above the daily MA200 and the MA200 is pointing up. This means that not only is the asset still bullish, it also has a significant edge in your favor: EASY INVALIDATION OF A CLOSE BELOW THE MA200. Thought to find these opportunities in this market. This is a gift. Enjoy!
Long
by Enigma_Fund
1
Using the Keltner and Gaussian Channels to prepare for another NTLDR: If we see the NASDAQ enter the Gaussian Channel or NDX/SPX enters the Gaussian Channel it is a time to start looking for long term investments. If you see something you like (and maybe that includes giving you dividends) you would buy the base of the keltner channel. Analysis I think Have done a good job of putting the information on the main chart in an easy to understand way. One thing I have tinkered on in the past but am not going to detail in this post is how I often see a lot of curious price action occur within important wicks or candle bodies. You cannot always guarantee what kind of price action that you will get in one of these wicks. After all, they could be continuation or reversal. Either way, if you are doing this analysis on a monthly chart or something similar you might be looking for a pattern to develop on that time frame. And if you are on a monthly chart looking for at monthly candle sticks to make a pattern that can take years to develop. Another thing I am not digging into is other indicators looking for bearish divergence. They are there, but I am kinda time bound right now. A look at the weekly chart of NQ1!/SPXUSD shows after price went above the last monthly wick of NDX/SPX that price formed a double top and price is right at the valley low. Sure, they may be a bounce, for some odd reason, but I am not betting on it. I use the NASDAQ Futures versus SPXUSD because that gets me the most time based data but the inclusion of SPXUSD prohibits me from using any volume analysis, but that is fine for some pure charting technical analysis. I use the fib tar getting on that is pretty solid and while price may zigzag down on NDX/SPX the target shows that NDX is going to take a slagging compared to SPX. If you are familiar with your US indices, then you know generally that NDX is going to take the biggest hit, then SPX, then DJI. If this is similar to the dot Com bubble pop then Gold should be looking pretty good. And after Gold looks good, silver and the other precious metals should get a run. Here is a look at NDX and Gold. We might be in a decades long bull run of Gold against NDX. A look at GoldFutures/NDX seems to have a lot of bullishness in the monthly chart with your classic bullish divergence on the monthly. Gold versus Ethereum also looks very bullish divergence on the MACD and the Stoch picking up. What I am doing (for now) My crypto account is either in Tether, PAXG, or taking shorts. My normie employer restrictive retiremnet fund is poised for interest rates to rise. My own trading account is building a portfolio around precious metals and miners.
NASDAQ:NDXShort
by This_Guhy
3
MicroStrategy testing FibonacciWe can see a high correlation between the company and BTC since the pandemic. Looking at the monthly chart, the fact is that the price is now in an important Fibonacci region at 50%. On the 1-hour chart, on the ADX indicator, we can see a decrease in the selling force (red arrows), and an increase in the buying force (green arrows), forming a kind of symmetrical triangle, signaling a temporary indefiniteness. I'm waiting in the cabin to see what happens.
NASDAQ:MSTR
by andre_007