GLD: Cooling off 💦It is still summer, so no wonder GLD wants to refresh itself in the upper blue zone between $163.03 and $160.17, into which it has leaped so enthusiastically that we have to wipe droplets of water from our faces, watching the chart. Here, GLD should now finish wave (ii) in blue before resuming the overarching upwards movement. However, as part of our secondary scenario, there is a 40% chance that GLD might need more refreshment and thus could jump below the support at $158, diving into the lower blue zone between $159.23 and $152.88. There, it should then do a lap to complete wave alt.(4) in yellow before rising again.
Spdr
S&P500 Will Keep Falling! Sell!
Hello,Traders!
S&P500 is trading in a downtrend
In a falling wedge pattern
And the index is now going up
To retest the falling resistance
Thus a pullback is expected
Followed by further move down
Inside the wedge
Sell!
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SPXU us500 s&p 500 Is The US market crash coming ?Is The US market crash coming ?
We have 3 types of “crashes”
Correction <15% downward movement in a major indicy
Bear Market <20% downward movement in a major indicy
Black Swan event, something very unexpected that tanks the market, think 1987, 1929, challenger disaster, 911 and so on.
The fourth type is the 1919, 1929, 1999 and 2008 scenario that people generally refer to as a “crash” 2022 a new one ?
Sincereley L.E.D In Spain 14/05/2022
SPY price action over next few monthshuge earnings this week. i think they will be decent, if their bad forget it and we go lower.
i just drew some random candles to show my general idea of what it may look like.
TOMORROW -i think we gap down. then maybe bounce mid day.
Then the feds are going to announce their rate hike decisions. i think we bounce to this 435-436 then REJECT when the may 4th cpi/ppi numbers come. then going into the summer if rates arnt coming down at the same speed. or fast as people wanted. i think thats when we break feb/march lows and we see the spy.. some where around that 20% decline. i think this is the price action over next few months.
this is a fluid situation many diff factors at play there is no right answer we dont know when the war ends. and if inflation comes down or not. things change this is what i think for now and if things change ill update but for now...
i do think we see recession, but shallow and short lived one. i think europe goes into recession first. but im rambling now lol.
Long term this will be blip on the radar. major opportunities! so excited! and the time for your long terms are.. O just so excited. Cheers!
TRADE IDEA SPDR S&P500 HEY GUYS, I HOPE YOU'RE ALL DOING WELL.
this is my general outlook on the market i am currently bullish on the stocks market and looking to buy the dips as far as i can see a retracement is due in both indexes and some profit taking so that happens this is my plan of attack keep in mind that this is an idea a plan in a uncertain chaotic environment out of multiple plans to be cirtainedif anything happens that changes the fundamentals of this idea, i will update.
please note that this is not financial advice. do your own research and use this information as conformational biase on top of your own analysis.
like for support!!!!
SPX500 UpdateLast week the market tricked us into closing longs prematurely and opening shorts. What makes it more painful is that we had this scenario in our cards - - the blue one. Now we are back to blue scenario - thinking that we have just completed (or about to complete) wave c of the triangle.
$XBI Key Levels, Analysis & Targets - Request$XBI Key Levels, Analysis & Targets - Request
Ok, @FlashingGraphs so these would be my targets fo XBI. It sounds like you don’t have an open position yet… I would start around 78.06.
Then if it keeps selling off, then double your position at 62.94
And if it still continues then double again at 45.89. If those 3 hit then you can expect a solid 50% swing from there…
Because of the way the Biotech sector moved in the past two years I could definitely see it making a 3 standard deviation move down like this, in correction. Don’t go in too heavy until you see a clear reversal sign… (such as macD crossing back above 0, and consistent higher lows)
And with that being said I still would start building from Target 1. I hope this helps.
GL & happy swinging…
Nasdaq Update Time for the update on the US markets. Those who follow me know that my analysis disregards any fundamental information or news and is based purely on a technical picture.
Despite the turmoil in the markets, next week we can see a bounce in US stocks. This is not a trading idea as it goes against the trend and there is no tradable pattern formed yet (at least within my skillset).
Can the markets continue to go lower? SP500 chart (to be posted next) indicates that further downside is possible to shape the local bottom. Though at this stage I prefer to deleverage and watch the price action until there is a tradable setup.
SPDR Gold (USA: GLD) Breaks Triangle on High Investor Interest🌟SPDR Gold Shares Trust (USA: $GLD) holds gold bars and from time to time, issues Baskets in exchange for deposits of gold and distributes gold in connection with redemptions of Baskets. The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion, less the Trust expenses. The Sponsor believes that, for many investors, the Shares represent a cost-effective investment in gold.
Nasdaq UpdateHere comes the update for Nasdaq. Closed 50%+ of shorts following Friday's drop. Anticipating a bounce next week in wave x which is likely to come out choppy. As a general rule I do not trade countertrend bounces (especially wave x), it is better to wait until wave x is completed and reenter shorts.
SP500 UpdateWhat does the Trend Say?
Part of the Weekly Update, to be followed by the big picture.
The market continues to move in what I consider to be x of wxy of wave 2 of ... whatever. Wave x can take many shapes and what is indicated on the chart is a possibility, not a forecast. Currently, there is no high probability setup. We keep holding the assumption that the main trend is down, however the roadmap is complicated not a straight line.
SP500 UpdateYesterday I was banned by Tradingview from posting and messaging due to 'unsolicited advertising' and my updates were available through the website only. Yesterday, the market continued its rally and at this point, the previous count looks extremely stretched. By now the bears should have been stopped out.
Aanalyzing lower time frames in the rectangular area gives a ground for assuming that we are stil in the bear market and not a restart of the previous bull trend.
RSI quickly swung from oversold to overbought suggesting that the bounce can be near to exhaustion, but so far there is no divergence on the lower timeframes.
The look and feel of the bounce make me suggest that we have already completed wave w and now is in wave x which can take different shapes and be volatile. On the chart, I indicated one possible scenario with a triangle in blue which would fit the bigger picture as posted previously.