Spy

Price has formed a rising wedge here..
I think we she get one more push here to 480 before pulling back to 465..

Nasdaq or IXIC
Price keeps bumping its head on this trendline resistance.

This resistance hasnt stop stocks like MSFT, NVDA and a few other of the 7 for making new highs but if you look at the price action overall on tech you'll see its been horrendous.. imagine knowing the nasdaq will rally 2% and you swing AMD calls and then AMD dumps but meta surges 3% ... pure fawkery.. but this is what happens when Nadaq trades near resistance, all stocks wont make it, the air is thin up here lol.

NYA/Nyse 4hour chart

Trading in a 200pt range
Could be a flag for a major leg higher or distribution before the correction
A close below 16,700 and its a correction
A close above 17,000 and Spy is going to 500


DJI
Dow jones
Levitating here between 37,400 and 37,800
Similar diagnosis as NYA.

Financials, transport and Healthcare affect the dow the most.
Last week Financials finally pullback and Boeing led transport down.
This weel i think Health care leads the way on pull back.. XLV has had 9 straight weeks up , closed outside weekly bbands and at the top of a 4 year range

Es
I can see a more clear bearish scenario here
Double top to close gap at 4600.. price keeps getting rejected at 4840

This my #1 leading indicator of any pending hard correction

Vix.. if the vix closes over its daily 21ema and 50sma then it will be risk off ..
So far the vix has bee getting rejected from its 50 since theNew years but the fact that it keeps tagging it should worry bulls.. the next time the vix closes over 14, the vix will be headed back to 20+

Comment:

Nq 2 hour chart
Slanted resistance pushing this down. Overhead resistance at 17,050

Comment:

Vix and DXY gapping up over the 50sma..
That in itself means risk off..


Qqq support level
408.40
406.00 (20sma)

Resistance
410

Spy support level
475.50
Below that
473.60

Comment:

With the exception of aapl and tsla, Banks looks the worst premarket.. Jpm gapping below 21ema

Chip sector being bought up so lets see what fawkery has in store for us

Comment:

Qqq 30min.. chop shop until support or resistance breaks .

Comment:

Ym1 4hour chart
(DOW JONES)

Bottom of it range here ..
We break this range tomorrow and that would kick start a nastier correction on Health,banks and cylicals.. If we bounce tomorrow vice versa

Comment:

NYA and dow both breaking below 20sma today for the first time since October.. volume is there too..
Dow jones transport daily showing H&S... Vix closing over 50sma..

Risk off for now 🐻

Comment:

IWM 4hour chart..
Falling wedge here.. fake breakout on friday but now we are at a crossroads.. a break out tomorrow and we head back to 200.
A break down and 180 is incoming

Comment:

Dow jones futures or YM1
4hour chart..
Bounced here a major support at 37,500
4hour RSI and Money flow is oversold..
May bounce tomorrow

Comment:

Nyse/NYA
Weekly chart and RSI

Making a u turn at 2yr resistance trendline here... Will be hard for cylicals, and financial to move higher with out a break out.
Last 2 times NYSE tagged this resistance the market Corrected hard Feb/July 2023

Comment:

Qqq support at 404..
Iwm 188
471.22

Vix headed for 200sma, outside daily bbands.. i expect a vix pull back tomorrow

Comment:

Qqq needs to hold 403... below 403 and 396 gap close incoming

Comment:

hey're Buying up financials and small caps

Comment:

406.30 is QQQ 20sma.. resistance for now.
TSM earnings tomorrow premarket may move things

Comment:

QQQ 5min chart..
Doubt this breaks over 407...
Price has wedge coming up on 406.60 gap resistance..
Also vix approaching 14.50 support and falling on 5min

Comment:

Good morning.... slight pullback first 1hour, then a typical friday melt up..