5 replies to this topic

[andr99]

https://i.postimg.cc...mRg/spxelle.png

 

https://i.postimg.cc...75Hv/spxltb.png

Edited by andr99, 03 April 2020 - 01:33 AM.

[andr99]

as you can see the spx broke down a long term dynamic support and now after regaining it, it's slightly above that long term trend line. My opinion is that there's a h&s pattern in the making. If it is a fake it means that after getting to 2600, or 2700 if surging crude oil prices sustain the rise of the indexes, the spx should at least retest 2200-2100 area in order to fool every bears who are watching the h&s and reversing to the upside soon after. That is the first scenario. The second one is that the h&s is not a fake and then spx 1500 in a few months might be on the cards. What I think is that the bounce we're seeing is not over because the daily macd should at least reach one of the two horizontal lines before reversing.   

Edited by andr99, 03 April 2020 - 01:44 AM.

[andr99]

pattern wise to me it's the first line of resistance the one that will prove to work, so my guess is 2600-2620 is where the spx will be stopped.

 

 

Obviously my charts express only an opinion......mine

Edited by andr99, 03 April 2020 - 06:21 AM.

[andr99]

a confirmation that what is keeping up the spx bounce is crude oil prices which are bouncing as well

 

 

https://it.investing...ellopec-1937908

[K Wave]

Italy looking better and better...

 

Likely only a few more days now until critical cases and deaths start dropping big time...

Edited by K Wave, 03 April 2020 - 12:09 PM.

[andr99]

Italy looking better and better...

 

Likely only a few more days now until critical cases and deaths start dropping big time...

 

it doesn' t change much for the stock indexes......It's evening here and I' m watching the TV and listening to the news .........they are saying that Trump should better declare the national lockdown. If that happens be ready to see the spx cratering down

Edited by andr99, 03 April 2020 - 01:32 PM.