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Looks like a strong bounce in making, my target at 50.

They won’t lose because they can’t afford to lose and regardless of what you believe in, they have more than enough to have an advantage over Ukraine, so it will keep going I guess until “the last Ukrainian”.

Just to add, his analysis is mainly based on the price deviation from highs to lows, the greater the deviation, the better the investment opportunity being presented, paired with the evaluation of the sentiment of the masses at the time when bottoms are being carved out (nobody believes a bottom...

How much accurate information did you get from MSM about the state of financial markets in the run-up to the credit crunch? Their job is to mostly keep the population out of the loop.

According to an analyst that I follow, June’s low marks bottom of the bear market to the tune of 80% probability. This could therefore be the making of higher low (seen on weekly chart above).

There are no exact rules how to play this, we all set our own rules and subsequently our own decisions lead to losses and gains. For example, how you trade a double bottom is a very personal thing, would you enter only when price touches first swing low, or within 10 points distance from it...

Price overshoots/under is a frequent thing, that’s why the biggest challenge is stop placement closely followed by profit taking target.

Also confluence found with a horizontal line taking May’s bottoming price action.

It seems likely that first 4,020-4,040 SPX would be challenged, that’s where I will be trying to get short. fwiw 3,980 is 50 fibs weekly swing low to high range.

Don’t know yet, will have a look tonight when I get some peace and quiet in this hen infested house :)

Just like I once been told by a seasoned trader “too much information on your chart” and I didn’t listen and killed another few years of my trading life, I will now pass it forward by letting you know that you have too much on your chart. Price levels and price action together with risk...

Need to now look for a sweet shorting spot ;)

hourly SPX

Basing for upside

Crash resistance!

Let’s roll! Up :)

Simple but not easy. Just like pleasing a superior other, seems simple but as most know it is no easy matter :)

The market continues to favor the old way of creating better r:r when buying low as close as possible to support and the opposite when selling. It can be rather mechanical.

So following the defence of 3,900 suggested by @schizo it is only reasonable that SPX is being taken 4k for a 3rd test. If bears successfully defend it then we ought to drop fast back to 3,900 and break through it.