SPX - Shakeout Reversal Yet Again?

Bit of a bounce from the lows here for SPXUSD overnight looking very corrective with choppy expanding pattern and weak loopy upthrust.

It has currently topped out just shy of the shakeout reversal extremity yet again, collapsing down has printed a gravestone doji at 0.618 and falling below.

Looking bearish I think and the momentum change from 200DMA was a real tell. This will be finding new lows soon I think and perhaps a real crash.

Not advice.

Bình luận:

Changed my perspective here as SPX has filled (repaired) the gap area and pushed on strongly with a big bullish so this is probably now a bottoming structure. Most NDX /SPX related shorts now covered.

Bình luận:

Changed my perspective here as SPX has filled (repaired) the gap area and pushed on strongly with a big bullish so this is probably now a bottoming structure. Most NDX /SPX related shorts now covered, except puts with longer term expiries.

Bình luận:

SPX really pushing on, formed an ascending channel which is mostly bearish to form LTF correction, but not so sure with indexes. I have buy limit order at 4264 support or I may buy a clear upside breakout. Could be finding support on 5m20MA

Bình luận:

This might be a better use of pattern and seems to be breaking gout so i'm staggering in to long positions

Bình luận:

Forming a shakeout reversal here so i've exited longs until some upside returns.

Bình luận:

So SPXUSD is now where I wanted to buy but only with a gentle retracement. These 2 large bearish momentum candles that have engulfed much of the uptrend in little time are bad news. And so I am flat now in equities except for a few LEAPs I have. I'll let things develop.

Bình luận:

Bình luận:

Look how deceptive SPX is LTF - it dumps suddenly then finds support, thrusts upward so you might think the next wave up is coming, but then it becomes a star with shakeout reversals through MAs.

Bình luận:

SPXUSD is down currently but the gap is up and since this is a corrective phase and there are wide oscillations that will most likely need to be repaired and so finally this should be a good place to enter with and buy. Now it has fallen below previous support and 1H20Ma most likely it will first hit the 0.382 log fib, maybe even 0.5 and tag 1H50MA . Any lower than 0.5 is getting a bit iffy I think. These have been wild oscillations through earnings but it seems to be petering out now.

Bình luận:

I'm changing my perspective from moment to moment here and I'm going to elect to see more chart before entering back anything to the upside.

Although the gap up will be an attractor and I would imagine it will get filled sooner or later, that is not enough on its own and SPXUSD does appear to be in a corrective ascending channel which is bearish and could see a fall, so I don't like these odds in this area.

If price breaks up - thats fine, i'll look for a continuation pattern to enter.

Bình luận:

Could end up being separated ascending channels that could provide a better entry

And it could of course just carry on to new lows, but this is just to look for potential setups.