Indexnysegis: w5000 This is a topic that many people are looking for. s-star.org is a channel providing useful information about learning, life, digital marketing and online courses …. it will help you have an overview and solid multi-faceted knowledge . Today, s-star.org would like to introduce to you S&P500 VIX Elliott Wave U.S. Market Update. Following along are instructions in the video below:
“Is rob roy welcome to the le waive options sp500 us. Market update. By request. Request.
The hats back. But more importantly talking about the market. The futures at this in time are pointing to a higher open on monday. Which would move them right into the middle of the consolidation range.
That s been forming over the past couple of weeks. Indicating a directional breakout is likely in your future. Let s take a look if you re new to the channel be sure to subscribe to get all the market updates before the next trading session opens as mentioned in the intro. If the futures hold in the market opens to the upside.
It s going to open right in the middle of a triangle that s for me you can see it here just by connecting the highs..
And the lows you can see that there s a symmetrical triangle formation and again we would open someone right into the point indicating that we re going to get a pretty decent sized breakout out of the s p somewhere around 3 to 400 spx points or about 30 points plus on the sp y is where things are looking now we go back and remind ourselves of where we were with this zig zag pattern with the seaway there remember that i move up to this 100 level was expected by the rules to continue to move to the downside. Which is exactly what happened we bounced right to the upside there. But that doesn t mean that we can t go up here. And still have the same zigzag formation so that s just where you re supposed to go to at least that one.
But if we take a look at another chart of the sp y. And just do a straight fib retracement on the entire move. We could move as high as this level bouncing all the way up to the 618 level. And another thing.
That s interesting to take a look at is. Look where we are if we were to go up to that 618. Fib level on the bounce. Which is my favorite fib level looking at this chart on the extension.
Levels we had 293 at the 382..
Fib. Extension level. All that means is that there s two different fib. Two numbers at the same price level.
Which means that that could happen also if we break that s the one scenario on an upside breakout. If we had the downside breakout. Then you already know what s going to happen we break to the. Downside and that means that this move down to the 200.
618. Extension. Is underway. So we ve been waiting on the market to give us.
It s a level..
We talked about how we ve been kind of in between two very strong fib levels. And sometimes you just have to be patient let the market give you a signal of what it s about to do and that s what s happened. We ve consolidated into a triangle that s what s been going on so that move will likely happen in the near future very similar to wanted to update. What we talked about in the last recording with oil.
Many of you mentioned this already is we had this descending triangle here another triangle for casting a breakout. Exactly what happened oil broke out looking at the futures. We had a nine dollar break in oil. And that was on the heels of an expected meeting between russia and the saudis on monday that was supposed to happen now.
There s a little bit of squabbling going on between the saudis and the russians and the meeting is scheduled currently for thursday. But most people think it s not gonna happen at all that it s gonna fall apart. That whatever they got going on is going to preclude the meeting from occurring at all and that may be the end of the bounce. If that curves that there s no meeting whatsoever.
Then price of oil will likely fall back down..
We ve already had one us shale producer oil producer filed for bankruptcy and many people think that that s the ulterior motive. Behind all this is now with a big drop in the price of oil. They re not going to rest until they get more us oil companies out of business. If not all of them one.
Other thing that i wanted to share with you is this is in the portfolio of our subscribers in one of our portfolios. The volatility one and you can see that this is a symmetrical triangle as well there s a lot of stocks you would guess that makes sense right that there s a lot of stocks that are consolidating along with the fact that the market itself has been consolidating so it should be a very interesting week and give us a pretty clear indication of where the next significant move is not just a short term move. But a significant move is out of the market hope. You ve had a great weekend be back to talk to ken.
Soon take care everybody if you like these recordings. I d like to invite you to join our new trade finder live for each and every week. We do a live webinar where we talk about the market. But we also go a little more in depth into the technical analysis system that we utilize to forecast where the markets likely going to go and also to identify trading opportunities get your free ” .
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