Posts Tagged ‘S&P 500 chart’

SP Weekly Chart Updated

SP Weekly Chart Updated

ponzi schemeCourtesy of Jesse’s Café Américain

Here is the chart we have been keeping through this decline and now into the bounce.

The bounce will end when it ends. It is a ‘false flag’ intended to spark a recovery in confidence and the economy. It is fueled by an enormous infusion of liquidity by the Treasury and Federal Reserve into a few favored banks, who are making the bulk of their newly found profits by trading.

The rally cannot be sustained without continuous printing of money. The difficulty with this tried and true monetary approach which has lifted the economy out of the last two bubble breaks is that the financial sector is closer to the heart of the credit bubble than tech or housing, which were just vehicles for the Ponzi scheme.

And the largesse is not being distributed evenly, as relative outsiders like Ken Lewis are finding out. "Not all animals are equal." And not all the pigs have purchased premier positions at the trough.

So, when will it end? On the charts, the area between 1060 and 1100 is likely, since it is in the area of a valid and confirmed neckline. But given the strength with which the SP has penetrated the prior resistance, one has to approach any forecast of an end to a rally like this with fear and trembling, and a generous portion of caution.

Still, our point is not to make a killing for the punters, but rather to help to illuminate the perfidy at the heart of the US financial system. It is truly amazing at how brazen it has become, especially under their token reformer.

The comments on this chart are those that had already been there. All that has been done is to update the chart from July, and to clean it up a bit for readability.

SP 500 Weekly

[click on chart for larger view]

 


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Daily S&P500 analysis using Ichimoku charts for August 18th 2009

Daily S&P500 analysis using Ichimoku charts for August 18th 2009

Courtesy of Larry at Ichimoku Charts 
 

 


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Large Scale Monthly Elliott Wave Chart of SP500

Large Scale Monthly Elliott Wave Chart of SP500

Courtesy of Corey at Afraid to Trade

Per multiple reader request, I’m providing the “bigger picture” backdrop against which to classify past and possibly future price structure in the S&P 500.  Let’s take a look at one of the most mainstream Elliott Wave counts and projections on the S&P 500 Index (monthly).

S&P 500 Chart
(Click for Larger Chart)

Many Elliotticians agree that we completed a large-scale Third Wave into the 2000 highs and that we are now in a 10-year Fourth Wave correction phase that began off the 2000 highs.

This Fourth Wave will (has) subdivide into a three-wave corrective phase as all fourth waves do.  Wave A was the move from 2000 – 2002; Wave B up was the bull market from 2003 – 2007.  We are now structurally in Wave C down.

To step it into more detail, Wave C subdivides into a Five-Wave sub-structure (fractal). We have already moved four waves of that expected five wave structure.

Technically, the entire move from 2000 to present has been an “Expanded Flat” where Wave B made a nominal high and Wave C is expected (has already) made a new low beneath the “A” Wave.

That is the historical count in which we trade and invest currently.  Wave C is much, much closer to its end than its beginning, but many Elliotticians agree that we have one more wave to the downside to finish-out the C wave before putting in a bottom and rallying off these levels – perhaps as low as 550 on the S&P 500 (an exact discussion on targeting is beyond the scope of this post).

With that being said, the rally from the March 2009 lows to present (if not even the November 2008 lows) has been a fractal Primary 4th Wave rally that targeted the 1,000 index level.

It now appears this rally is also coming to an end… if not has already ended already.

Whether or not we pop higher from here to challenge the 1,000 level, the future Elliott Wave pathway seems to call for one more swing down to test – at a minimum – the 666 lows from March (which would be a 5th wave truncation).  I get the sense that most seem to believe we will be breaking these lows.

Any Elliott Wave posts I do will be based on this…
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Zero Hedge

Going Down With The Ship: After Raging At Moody's For Downgrade To Deep Junk, Masa Son Pledges 40% Of SoftBank Stake To Lenders

Courtesy of ZeroHedge View original post here.

Last October, in the aftermath of the WeWork and Uber fiasco, we asked if SoftBank, that chronic seed (and not so seed) investor in cash-incinerating zerocorns startups would be "The Bubble Era's "Short Of The Century." Subsequent events have only made our query more pressing: with the global economy frozen, with social distancing and self-quarantine now a mandatory part of life...



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Phil's Favorites

Stimulus package will remain half-baked unless local governments get more of the dough

 

Stimulus package will remain half-baked unless local governments get more of the dough

People still need baked goods even during a lockdown. Frederic Brown/AFP via Getty Images

Courtesy of Stephanie Leiser, University of Michigan

Lawmakers are pinning their hopes on a US$2 trillion package to prop up the U.S. economy and provide relief to individuals and business ravaged by the coronavirus. ...



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The Technical Traders

These Index Charts Will Calm You Down

Courtesy of Technical Traders

I put together this video that will calm you down, because knowing where are within the stock market cycles, and the economy makes all the difference.

This is the worst time to be starting a business that’s for sure. I have talked about this is past videos and events I attended that bear markets are fantastic opportunities if you can retain your capital until late in the bear market cycle. If you can do this, you will find countless opportunities to invest money. From buying businesses, franchises, real estate, equipment, and stocks at a considerable discount that would make today’s prices look ridiculous (which they are).

Take a quick watch of this video because it shows you ...



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Kimble Charting Solutions

Broadest Of All Stock Indices Testing Critical Support, Says Joe Friday!

Courtesy of Chris Kimble

One of the broadest indices in the states remains in a long-term bullish trend, where a critical support test is in play.

The chart looks at the Wilshire 5000 on a monthly basis over the past 35-years.

The index has spent the majority of the past three decades inside of rising channel (1). It hit the top of this multi-decade channel to start off the year, where it created a monthly bearish reversal pattern.

Weakness the past 2-months has the index testing rising support and the December 2018 lows at (2).

Joe...



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Insider Scoop

Why SmileDirectClub's Stock Is Trading Higher Today

Courtesy of Benzinga

SmileDirectClub (NASDAQ: SDC) shares were trading higher on Friday, after the company announced it's now producing medical-grade face shields for health care workers amidst the coronavirus (COVID-19) pandemic.

SmileDirectClub says it has capacity to print up to 7,500 face shields per day and is accepting orders from healthcare org...



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Biotech/COVID-19

Coronavirus treatments and vaccines - research on 3 types of antivirals and 10 different vaccines is being fast-tracked

 

Coronavirus treatments and vaccines – research on 3 types of antivirals and 10 different vaccines is being fast-tracked

Scientific research on the novel coronavirus has progressed at unprecedented speed. Mongkolchon Akesin / Shutterstock

Courtesy of Ignacio López-Goñi, Universidad de Navarra

Just three months after China first notified the World Health Organization about a deadly new coronavirus, studies of numerous antiviral t...



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Chart School

Cycle Trading - Funny when it comes due

Courtesy of Read the Ticker

Non believers of cycles become fast believers when the heat of the moment is upon them.

Just has we have birthdays, so does the market, regular cycles of time and price. The market news of the cycle turn may change each time, but the time is regular. Markets are not a random walk.


Success comes from strategy and the execution of a plan.















Changes in the world is the source of all market moves, to catch an...

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Digital Currencies

Bitcoin Tested As A Safe Haven After Biggest Stock Crash Since 2009

Courtesy of ZeroHedge View original post here.

Authored by Horus Hughes via CoinTelegraph.com,

Gold and Bitcoin react to global panic

Amid all of yesterday's chaos in bond, commodity, and stock markets, with the yield on the 10-year US Treasury note dropping below 0.5% for the first time in history - a strong indicator that investors are desperately looking for safe harbors - two supposed safe-havens in 'alternative currencies' behaved qui...



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Members' Corner

Bloody Mob Sh*t: An Interview with Lincoln's Bible

 

Bloody Mob Sh*t: An Interview with Lincoln's Bible

We talk Trump, Mogilevich, Epstein, Giuliani, Fred Trump, Roy Cohn, and more.

Courtesy of Greg Olear at PREVAIL, author of Dirty Rubles: An Introduction to Trump/Russia

(Originally published on Feb. 21, 20.)

...

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ValueWalk

Entrepreneurial activity and business ownership on the rise

By Jacob Wolinsky. Originally published at ValueWalk.

Indicating strong health of entrepreneurship, both entrepreneurial activity and established business ownership in the United States have trended upwards over the past 19 years, according to the 2019/2020 Global Entrepreneurship Monitor Global Report, released March 3rd in Miami at the GEM Annual Meeting.

Q4 2019 hedge fund letters, conferences and more

The Benefit Of Entrepreneurial Activity ...

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Promotions

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TODAY's LIVE webinar on stocks, options and trading strategy is open to all!

Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

Mike will show off the TradeExchange's new platform which you can try for free.  

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Lee's Free Thinking

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

 

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

Courtesy of  

The repo market problem isn’t the problem. It’s a sideshow, a diversion, and a joke. It’s a symptom of the problem.

Today, I got a note from Liquidity Trader subscriber David, a professional investor, and it got me to thinking. Here’s what David wrote:

Lee,

The ‘experts’ I hear from keep saying that once 300B more in reserves have ...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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