SPX: Market at Risk of Major Correction
Güncellendi
- RSI divergence is one of the strongest indicators that has shown the bring major corrections to S&P500 historically.
- We are now observing the formation of a near decade long RSI divergence which could put the entire market at extreme risk of 20% correction to 50% crash.
- If July closes with a shooting star pattern, we should continue to slide down till RSI rest near 20's for the next couple of years.
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for some reason this chart doesn't play properly but so far we are moving downward and just hit 540. We are expecting this move to continue after a quick bounce to 545. Our target is 480 by November.Not
Microsoft dropped post earning. Last thing to hold this is FOMC tomorrow. Downtrend continues.Not
FOMC did not suggest any changes to the plan. We should expect a bullish continuation if August 1st follows through. The risk of correction is not eliminated as this is a monthly trend but the short-term prospects is not overly worrying as of now.Not
Today showed the market is not ready to bounce just yet. These are similar volatilities we used to see during 2022 bear market.Not
We called the top of the market, and continue to expect further drops. Recession news is now going to takeover the market sentiment till further notice.Not
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we're observing similarities in patterns of correction in this latest downturn:Not
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We were among the first groups to warn our followers about this downturn, and will be one of the first to find the bottom. However, this is the beginning of this correction/crash, folks! Not
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Close the day with less than 1% recovery. Setting pressure pick back up toward the end of the day and we are now forming a bear flag. VIX acted bizarrely today with dropping more than 40% near the lows of the session but recovered 18% percent toward the end.Not
For a second consecutive day, market opened +1% in the green and sold off toward the end of the day. Today, we closed 0.7% in red for a total of 2.5% from the sessions high. The sell off continues and we should retest 200ma at $500 very soon.
Market Maven: Never Miss a Move.
Disclaimer: This is not a financial advice and all posts are for educational purposes only.
Disclaimer: This is not a financial advice and all posts are for educational purposes only.
Feragatname
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