Long position filled. Nasty dump - best time to long. Hopefully next week open will give us a bounce 🙏🏼 Depending on that bounce I will either close it under 4370 resistance or will keep for original targets (4730 / 4870 / 5000).

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@WiseForex #SP500 #Stocks

So far look good for a bounce. Holding long while overall market situation obviously look bearish.

@WiseForex #SP500 #Stocks

Seems that 4290-4222 buy zone was perfect after all 👌🏼 Plan to add more on pullback to ~4250.

@WiseForex #SP500 #Stocks

Stocks bubble is about to burst 😱

S&P500 cleared liquidity on dump wick and bounced from the zone I've been marked. Unfortunately I got wiped out as well - should have remembered the rule to wait for day close before taking actions.

There are two scenarios.
1) If price go up without meeting any significant resistance and grow close above 4217 (before starting correction) - that will be a bullish sign and new entries good at 4215-4265.
2) If price slow down around 4220 resistance that chart is still bearish...

🔥 You can trade S&P500 at PrimeXBT exchange with crypto 😉

@WiseForex #SP500 #Stocks

Macro view on S&P500 - each candle equal to 4 months period. Last quarter closed bearish. Therefore we may assume that nearest 4-8 months have high probability to be bearish as well. The rest depends on reaction to the middle point of that channel.

@WiseForex #SP500 #Stocks

S&P500 continue its movement towards 3760-3812 support I mentioned 6 days ago. No hope for a bounce earlier.

🔥 You can trade S&P500 at PrimeXBT exchange with crypto 😉

@WiseForex #SP500 #Stocks

While Bitcoin is doing more or less fine S&P500 is dumping hard today. Now at critical support level. If BTC hold till stocks bounce that will have a very bullish effect on crypto. If SP500 lose that support most probably BTC will dump hard as well.

@WiseAnalyze #SP500 #Stocks

Regardless of how infectious this new virus is it certainly possess panic effect danger that can push stock markets further down. Stocks down means money move from risk assets into dollar - that push DXY index up. Obviously for crypto as a high risk asset such news possess real danger. And it feels that with current extreme low trading volume everyone is just sitting and waiting.

@WiseAnalyze #SP500 #Stocks

And that was a rejection. Now back to support it already tested twice so low chances for a bounce. Next is 3800 / 3760

@WiseForex #SP500 #Stocks

After massive breakout Gold price didn't broke above August'20 high and now back to broken triangle trendline. Most probably bounce should take it to 1870-1890 zone. The rest is yet unpredictable.

@WiseForex #Gold

EURUSD almost touched January 2017 low. This week candle formed a bullish engulfing growing back above 2017 year close. At this stage hard to forecast anything, but if next week manage to close above same level we may expect a relief bounce back to ~1.072-1.08 that may happen within following weeks.

@WiseForex #EURUSD

SPX bounced from March'21 open (3812) which act as strong SR zone. Next is 2021 Year open at ~3764 (even stronger SR).

These two levels make this area very good one for consolidation and relief bounce. Another factor - chart completed 3-4 impulse waves which usually is enough for either consolidation of correction.

But this is all in theory. At that moment I don't see any confirmation that downtrend is over. Want to see SPX price to grow above 3985 and find acceptance there for beginning.

@WiseForex #SP500 #Stocks

As expected stocks slowed down the retracement and broke out the trendline. If that move get acceptance above ~4064 SPX should head to 4142 SR and maybe to 4222.

@WiseForex #SP500 #Stocks

EURUSD bounce target reached ✅

That move took chart price above Q VWAP. While price is above that level it keep chances to grow to VAH (currently at 1.0845) and wick above it. If lose VWAP price will move towards VAL and 1.05 Year close SRR level.

@WiseForex #EURUSD

S$P500 almost got to 4222 SR 👌🏼

Now trying to hold above Q VWAP which corresponds with 4142 SR (given as the first target for correction bullish move).

If VWAP lost index will move down to ~3980. If manage to bounce target will be 4340-4370.

@WiseForex #SP500 #Stocks