Trading signals and market predictions for SPX cash sessions.
S&P500, E-mini futures, daytrading, SPX, Market forecast.
buy-sell
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I prefer the bullish side of trading as it is much easier to time market bottoms than market tops.
We have now reached a price level where I cannot just ignore what charts are foretelling.
I think we are inn for a second leg down of this recent correction (wave C) and that this should start today or by Monday. This could be a quick correction that ends by this month of August.
In my last blog, I posted a target for the German DAX with target @ 12310... That printed right away! The rally is now expected to continue with a target to minimum 13460, probably higher. Target shoulrd print by October 20th the we should see a strong correction.
#SPX and world indexes should follow this pattern. Trade well ;o
The S&P 500 is on worrying triple top pattern and is expected to complete a sell setup following a higher weekly bar close with a higher high above 2964.15. This will result in a double sell signal:
TD Countdown sell
TD Combo sell
This higher close on weekly bar should complete this week starting July 1th, 2019.
The same triple top pattern is visible also on the Dow Jones industrial average chart. As the middle top is still the higher top, this could be described as Head & Shoulder formation.
#DJI wekkly chart
Nasdaq Composite index is telling the same story on weekly chart, where it is expected a higher closing weekly bar forming a triple top at 8164 level. That would complete the ongoing TD sell countdown (giving a blue no. 13) in addition to the previous TD Combo sell signal from early May (yellow no. 13).
#Nasdaq Composite index weekly chart
A TD countdown sell signal is also triggered on the monthly Russel 2000 chart, this signal would be perfected if we trade and cross 1670.805:
#RUT monthly chart
Volatility index, TVIX is suggesting a lower weekly bar to complete the buy setup, thus confirming the bearish scenario starting from second week of July:
Velocity ondex #TVIX weekly chart
In the following chart, the German index DAX is at triple top resistance area, on a lesser time frame chart this index is also approaching a sell signal:
#DEU30 - German index weekly chart
Notice how all the above mentioned index shows sharp V formed rallies and none of them has yet retested the lows, a common phenomena to be expected based on historical similar chart patterns. In my opinion, that is where the market will return.
Expect a sharp decline for a retest of early June lows and perhaps much lower!
In my last blog post from June 3th, I projected a turnaround and sharp rally from the lows:
For Monday, I expect a gap down and that we print a target down at 2723, from there we start a rally to a target at 2820 SPX, to be reached in few trading days!
We rallied to a 2910.61 high after an incredible rally! My next call is for a correction to start tomorrow Friday, June 14th that should take us down to a projected low @ 2710 The expected decline could be very sharp and faster than the rally from the June 3th low:
In my last blog post from June 3th, I projected a turnaround and sharp rally from the lows:
For Monday, I expect a gap down and that we print a target down at 2723, from there we start a rally to a target at 2820 SPX, to be reached in few trading days!
We rallied to a 2910.61 high after an incredible rally!
My next call is for a correction to start tomorrow Friday, June 14th that should take us down to a projected low @ 2710
The expected decline could be very sharp and faster than the rally from the June 3th low:
hoping you are enjoying your long Easter weekend.
I am always fascinated about the power of no. 13!
So I would like to stress how significant are the latest exhaustion sell signals I posted on this blog concerning SPX, DAX and other financial instruments....
Most are related to completion of this TD Combo variant that I have most faith in.
Here follows another example of this , where we see the SPX 3 days chart has just completed 13 off higher closing bars since starting the first TD sell setup.
On the following link to a chart I posted on Tradingview, January 2th, 2018 was a market prediction warning of a significant correction following the completion of this bar no. 13 on monthly chart.... Click the play button to see what happened since that prediction... yes! a whopping 500++ points correction on the following month of February!
