SPX - Measured Move Target

SPX has risen to test resistance as anticipated.  Consolidation or minor dip at this level is to be expected.

The meltup is likely to continue soon.  A measured move target is shown, with heavy resistance in red.

30min Chart

SPX - Short Term Support/Resistance with 2,975 Target

SPX warmed up this week, and it is just the beginning.  Minor resistance is overheard with support building at the 2,700 level.

30min Chart

Ultimately, SPX is moving towards a price target of 2,975.  The channel is clearly defined with a shallow slope that is sustainable.

Daily

$SPX - Weekly signals Big Bounce Ahead

SPX was unable to maintain rising in the steep slope of the main pink channel.  Another channel has formed, and the slope is gradual.  Outlook for SPX remains positive as price will likely rise in the blue channel next.

The weekly chart of SPX is signalling a big bounce ahead.

Daily Chart

Bitcoin - Before/After

Bitcoin has declined off the white trendline identified in July.  Price is approaching the target area.

A bounce is possible short term, but lower prices are likely ahead.  Price action is consuming time, and the bottom may not form until next year.

Daily

July 16, 2018:

Daily

$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

$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

$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