SPY remain a STRONG SELL.Analysis Method: Fibonacci & Wave Theory
SPX has completed a 143 Year Super-CyclePlease see previous analyses for further information.
This is a continuation of the SP500 analysis that was started July, 2018.
SPY has completed a 5 Wave Super-Cycle (143 years) and is now in a correction phase.
An 'Irregular Correction' is when the B Wave exceeds the Terminal 5th Wave.
It is my opinion, the Private Federal Reserve is running out of monetary 'ammo'. The private bank can no longer raise interest rates and is now being forced to cut rates in an objectively 'good economy'.
All gains can directly be correlated to the Private Federal Reserve's monetary injections.
The Hedge: Cryptocurrency
Analysis Method: Wave Theory & Fibonacci
143 Year Super-Cycle:
Wave Theory Rule: 2/3 Impulse Waves will near equality
Irregular Correction are most often observed after a Wave Cycle with a Double Extension
Waves 3 & 5 both extended.
Will update.
FMW
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I believe we are seeing the end of the 'B Wave'.Note
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Extending Wave 1 (Hourly)Note
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$2829 is a key level...Note
If $2829 breaks look to $2768...Note
If 2829 holds, look for a correction sequence.Note
Based on the price-action, it looks like we will break 2829.Note
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Flat Corrections usually terminate around 100% & 123.6% Level respectively...Note
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Let's see whats going on today...Previous analysis chart:
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Above: Daily ChartNote
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Above: 3 Minute Wave CountNote
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Above: Sub-Micro SequenceNote
Sub-Micro Retrace LevelsNote
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Added Fib-Time:Note
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Sub-Micro Wave Failed...Note
Double Flat CorrectionNote
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Starting to finally close Gaps...Note
And just like that...Back to the level before the REPO OP began...
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No real support here unless the Private Fed can pump...Note
New Wave Sequence should be forming now...Note
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Could be another big down day...We will find out soon...
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Watch the futures...Note
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Headline: STOCKS SURGE ON BETS CENTRAL BANKS TAKE ACTIONto fight a biological virus...
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Price-action is Trapped in the 'Ending Diagonal'Note
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(Bloomberg) -- U.S. stocks surged as investors gained confidence that stewards of the world’s largest economies would act in concert to offset any impact from the spreading coronavirus.Note
The S&P 500 jumped more than 3%, the most in a year, after news that Group of Seven finance ministers and central bankers will hold a teleconference Tuesday to discuss how to respond to the outbreak. Tech shares led gains after seven straight days of declines for the benchmark index, with monetary policy makers from Japan to England joining the Federal Reserve in promising to take action to support their economies if needed.Note
In other words...'Lets Accelerate the Destruction of Value in our Currency'Note
While Interest Rates plummet...Note
Weekly:Note
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Should be beginning a new wave sequence down...Note
30 Second Wave Sequence...Note
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We are about to drop...Note
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Target: $303-$301Note
If $301 breaks look to $298...Note
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Another Correction...1 Minute Chart:
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Still back in the 'ending diagonal'...Note
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Monthly Chart:Note
Wave Count:Note
Target Area:(If 'B Wave' has ended)
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We should be turning extremely hard....Note
Looking for a Minor Wave 3 to begin...Note
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We got the turn I was looking for...Note
$3,031 is a Key Level.Note
Daily Chart Update:Note
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If $3,031 breaks look to...Note
$3,012Note
Then $2098.50Note
*Correction $2928Note
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5 Minute Count (Above)Note
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Moving Averages:EMA 33 Green
EMA 50 Yellow
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EMA 300 RedNote
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Estimate Micro-Wave 3 Target Area: $2980-$2928.50Timeframe: <7 Hours
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Fed Suicide Watch...Interest Rates going to Zero...
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Fed credibility gone...Note
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Going to create new Hourly thread.Note
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Should be picking up momentum to the downside...Note
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Immediate Target: $2984.25 - $2923.75Note
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Please Follow New Thread Here:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.