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Thursday, October 11, 2018

$SPX - Deep Pullback Confirmed

The deep pullback scenario played out and price is approaching the main support.  The 2,750 deep pullback target was reached today.  An underthrow is possible though.


Upside is becoming quite attractive to the magical 3,000 SPX target, and we would expect that in approximately 6 months. 


The weak bull market continues with the main channel intact.


Daily Chart

Tuesday, October 9, 2018

$SPX - Head and Shoulders

SPX appears to be forming a nice example of a head and shoulders pattern.  The Left shoulder and Head are complete with the Right shoulder next. 


Price held the neckline firmly today.


60min Chart

Monday, October 1, 2018

$SPX - Pullback Next

SPX has rallied on trade deal news.  Prices may be overextended short term though, and a possible pullback to test white trendline support may be coming next.


The pullback may be similar in size to the June decline.


Daily

Tuesday, September 11, 2018

$SPX - Run to the Top!

SPX is in the sweet spot with the run to the top apparently underway. 


Mid-channel resistance has become support which has opened the door to further upside.  A steady meltup is likely ahead.


Daily Chart

Wednesday, July 25, 2018

$SPX - Before and After with 2018 Target

SPX has reached the Cycle target identified in May, 2018 analysis.  Both charts are shown with the results before and after.

A small pullback is due in August followed by the final run to the 2018 target. 

Daily

















Before:

May 21, 2018 analysis:  Breakout!

Daily















Monday, July 16, 2018

Bitcoin - Bouncing but Capitulation is Coming

Bitcoin is making another bounce off support, but the bounces are becoming smaller and price is weak with a sideway move.

Capitulation is likely to occur later this year.

Daily














Monday, July 2, 2018

SVXY - Rejected off Horizontal Resistance

SVXY has declined from the band of horizontal resistance identified May 10, 2018.  Notice the interaction with the red resistance lines.

A low is due to form shortly.

60min Chart