SPX - Up move looks finished

2 thg 12, 2022

I was saying yesterday that it's possible the upmove is done and after today's economic numbers, it certainly looks that way at the moment. The move down from here would be negated if they get back over 4100.

The weekly 18ma is at 3925 on /ES, so I expect a bit of support there, but probably not much before then. If we start a triangle for B, there should be a good reaction from 3925 area and then consolidation for December (yellow path). If tax loss selling starts to kick in and people want to get out, December may be an unusually red month (like 2018) with a revisit to around 3700 by Christmas-New Years.

Good luck!

2 thg 12, 2022

Ghi chú

I'll be away most of the day today, so no updates (if any) until after the close. Have a good day!

2 thg 12, 2022

Ghi chú

I was away all day and unfortunately TV app does not let me comment. They bought the opening right at the uptrend pitchfork fib today and honestly it looks like they are going to get to the median line, which might mean the high of this move is completing around 4160-4180 next week. Yet again, the very fast move down this morning looks like a C so more upside is possible. We'll see how it looks next week on Monday but as of now I think they are going to push to the median line on this chart.

2 thg 12, 2022

Ghi chú

hanging man candle on futures daily chart. SPY/SPX looks much more bullish learn.bybit.com/candlestick/how-to-use-hanging-man-pattern-to-trade-trend-reversal/

2 thg 12, 2022

Ghi chú