SPX - Mastering the Market's Mood Swings
I previously discussed the likelihood of the S&P 500 Index (SPX) experiencing a rebound towards the 4000-4050 range, with particular attention given to the 4020-4040 level. The index indeed reached approximately 4039 before encountering a substantial pullback. Trading on such days can be complex, and if you're not positioned correctly and overleveraged, you may face considerable losses. Notably, the SPX nearly reached the 61.8% Fibonacci retracement level, which stands at 4043.
As we move forward, we can anticipate increased volatility with alternating bullish and bearish movements over the next two weeks. This presents lucrative opportunities for traders, which I intend to exploit. In the past, I've examined the intersection of downtrend and uptrend lines, and when these lines crossed without any release of pressure, I accurately predicted the market's continued sideways movement. This situation remains valid, with the market exhibiting wild price fluctuations.
For the short term, I project that the SPX will decline to roughly 3900 by Friday (and possibly lower into next week) before rebounding in the first week of April. Monitor April 6th closely, as it may serve as a pivotal point in the market's trajectory. If the market is in a downward trend approaching the full moon, anticipate a significant upward shift, but if it's in an upward trend, expect a substantial downward movement.
Lastly, I'd like to mention the Wave Master Indicator, a tool I developed and have been utilizing in my trading endeavors for years. On the 1-hour SPX chart, the Wave Master Indicator suggests a short-term bearish outlook. In a previous analysis, I highlighted the 4-hour chart, which indicated a potential upward move heading into the FOMC meeting. However, the longer-term indicators were pointing towards a downward trend. This is precisely what happened.
Remember that the stock market can be unpredictable, much like the weather. So here's a little joke to lighten the mood: Why did the stock market investor go broke? He tried to catch a falling knife and got cut! Stay sharp and happy trading!
As we move forward, we can anticipate increased volatility with alternating bullish and bearish movements over the next two weeks. This presents lucrative opportunities for traders, which I intend to exploit. In the past, I've examined the intersection of downtrend and uptrend lines, and when these lines crossed without any release of pressure, I accurately predicted the market's continued sideways movement. This situation remains valid, with the market exhibiting wild price fluctuations.
For the short term, I project that the SPX will decline to roughly 3900 by Friday (and possibly lower into next week) before rebounding in the first week of April. Monitor April 6th closely, as it may serve as a pivotal point in the market's trajectory. If the market is in a downward trend approaching the full moon, anticipate a significant upward shift, but if it's in an upward trend, expect a substantial downward movement.
Lastly, I'd like to mention the Wave Master Indicator, a tool I developed and have been utilizing in my trading endeavors for years. On the 1-hour SPX chart, the Wave Master Indicator suggests a short-term bearish outlook. In a previous analysis, I highlighted the 4-hour chart, which indicated a potential upward move heading into the FOMC meeting. However, the longer-term indicators were pointing towards a downward trend. This is precisely what happened.
Remember that the stock market can be unpredictable, much like the weather. So here's a little joke to lighten the mood: Why did the stock market investor go broke? He tried to catch a falling knife and got cut! Stay sharp and happy trading!
CE - BitDoctor
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Access our private indicators and join our Premium Room: bitdoctor.org
Beware of scams - I'll never DM you asking for funds.
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