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SPX 3400 or 2900, which way first?


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#41 K Wave

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Posted 28 July 2020 - 09:17 AM

NAZ summation still looks awful after yesterday

 

https://stockcharts....id=p44465978337


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#42 dTraderB

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Posted 28 July 2020 - 09:23 AM

Time running out for bulls...

ADAM:

What bulls want to see in $SPX here ultimately is more consolidation between 3248 and 3190 (ideally in the upper end of that zone) which favors a push to a new high.

3190 is a key trendline extending from July 16 tested 4x now and must hold to keep this consolidation bullish

#43 K Wave

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Posted 28 July 2020 - 09:23 AM

Meanwhile SPX still attempting to push off from the back test of the top of the big island in June.

 

Failure to hold 3220 now would likely mean it is not going to be a successful attempt.

 

But until it shows sign of making another run at 3220, may still manage to push out the top...

 

Just a bit tricky here....

 

5 min look

 

spx.png

 

 

Hourly look

 

spx.png


Edited by K Wave, 28 July 2020 - 09:24 AM.

The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#44 K Wave

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Posted 28 July 2020 - 09:34 AM

SPX attempting to turn back for 3220....

 

this would be the place to try short with a tight stop...that 1 min reversal spike candle should do nicely...


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#45 12SPX

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Posted 28 July 2020 - 09:36 AM

Taken out at 3223 just as I was placing my new profit stop of 6 points.hmmmmmm



#46 K Wave

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Posted 28 July 2020 - 09:47 AM

Trannies stilling dropping....back below 9720 area, and could start the swing ball rolling back downhill


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#47 K Wave

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Posted 28 July 2020 - 09:51 AM

Trannies 2 hour....A close back under the 900 and below yesterday's attempted launch candle would not be bullish....

 

OTOH, a recovery from right here, and back above 9800 likely would be bullish...

 

djt.png


Edited by K Wave, 28 July 2020 - 09:52 AM.

The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#48 K Wave

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Posted 28 July 2020 - 09:57 AM

SOX 15 min...another 15 min close under 2075  might finish it off for a while

 

While back above 2100 from here would likely mean bulls have made the stick save.

 

 

Could be big moment of truth dead ahead here

 

sox.png


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#49 blustar

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Posted 28 July 2020 - 10:05 AM

The e-wave patterns look bullish to me


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#50 K Wave

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Posted 28 July 2020 - 10:09 AM

Trannies looking more and more like a failed breakout attempt...

 

Failed breakouts can often lead to strong moves in opposite direction from the breakout attempt...


Edited by K Wave, 28 July 2020 - 10:10 AM.

The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy