The S&P 500 is in a long-term Bull Market with price trading above the 50 and 200 and 800 week emas. The 50 week ema is up trending with the market putting in a red candle last week, forming a Harami, which is an indicator of a potential reversal. The market traded away from the upper Bollinger band and is headed back towards the median which is at 3180. Price would have to drop all the way down to close below 3193 before we would consider the market to be correcting.
The Market is in a correction of a Long-Term Bull Market on the daily, with the 50 ema above the 200 ema and 800 ema. The 50 week ema is still up trending though the market put in a long red candle at the end of last week to trade down to the Bollinger band median price. Price has dropped all the way down to close below the 13 ema, at 3298, and therefore we consider the market to be correcting. If the market trades through the Bollinger Band simple moving average, it will likely trade all the way down to the lower band at 3200.
The Market is in a correction of a Bull Market on the 4 hour, with price below the 50 ema, which is above the 200 ema and 800 ema. The 50 ema is starting to trend down with the market putting in a series of red candles over the last several days. Price is rapidly approaching a long term up trend line, which I expect it to take out. Price will undoubtedly correct at least to the 200 ema at 3245.
This past week the S&P 500 began a correction, where the trend line first broke, and then the market started rolling over, closing below the 13 ema. The supposed catalyst for the correction is the Corona Virus Epidemic over in China. This week coming up, expect the news flow over the weekend to be bad, and the market to sell off over night during the Asian Session. New York Session will probably belittle the severity of the issue, and essentially trade in a range. I’m then expecting the situation to get worse, and dump again in an Asian Session. After hours trading could get wild! New York and London Sessions are more likely to be much calmer, and the price range for the SPX won’t really reflect what is seen in the futures market. Later in the week things will likely calm down and return to a sense of normalcy. Don’t be fooled. This is a weaponized virus, twice as contagious, and three times as deadly, with a long incubation period. This week would be a good week to lighten up on long positions, or buy some protection. Things are likely to get much worse in coming weeks…
This is my SPX 500 look ahead for my own trading purposes. FUTURES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
The Market is in a correction of a Long-Term Bull Market on the daily, with the 50 ema above the 200 ema and 800 ema. The 50 week ema is still up trending though the market put in a long red candle at the end of last week to trade down to the Bollinger band median price. Price has dropped all the way down to close below the 13 ema, at 3298, and therefore we consider the market to be correcting. If the market trades through the Bollinger Band simple moving average, it will likely trade all the way down to the lower band at 3200.
The Market is in a correction of a Bull Market on the 4 hour, with price below the 50 ema, which is above the 200 ema and 800 ema. The 50 ema is starting to trend down with the market putting in a series of red candles over the last several days. Price is rapidly approaching a long term up trend line, which I expect it to take out. Price will undoubtedly correct at least to the 200 ema at 3245.
This past week the S&P 500 began a correction, where the trend line first broke, and then the market started rolling over, closing below the 13 ema. The supposed catalyst for the correction is the Corona Virus Epidemic over in China. This week coming up, expect the news flow over the weekend to be bad, and the market to sell off over night during the Asian Session. New York Session will probably belittle the severity of the issue, and essentially trade in a range. I’m then expecting the situation to get worse, and dump again in an Asian Session. After hours trading could get wild! New York and London Sessions are more likely to be much calmer, and the price range for the SPX won’t really reflect what is seen in the futures market. Later in the week things will likely calm down and return to a sense of normalcy. Don’t be fooled. This is a weaponized virus, twice as contagious, and three times as deadly, with a long incubation period. This week would be a good week to lighten up on long positions, or buy some protection. Things are likely to get much worse in coming weeks…
This is my SPX 500 look ahead for my own trading purposes. FUTURES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
การซื้อขายยังคงดำเนินอยู่:
It's Mid-Week, and they jammed the markets down going into Monday, and then bounced upwards in an a-b-c correction, which is about the reverse of what I expected. We aren't done with the downside, and it is very likely we see the lows I was expecting earlier in the week. There is nothing impulsive about this price action, so, no worries, we are more likely to see a Corona Friday night, after the markets close, than for the Corona virus to trash the markets...
