NY open on the first hour completed the third peak push up into 25's for the range expansion and 3 levels of fall. Once the jamming up into the high was noticed, there were ample opportunities to enter the market. The safest entry is the break of the creeping up trend channel.
PPI comes in in 10 minutes and will be the catalyst to break this triangle. The upside is supply and the downside is demand.
I am expecting a High of Day sell/ Bearish Range type of day. The 4 Hour 21ema is starting to curl downward. The last 12 hours of price have been trading under the up channel indicating a possible pullback. Because the NY session moves exactly 50 points daily, I am expecting price to go to support at 3961 for the bearish side. The bull side can see this as a false...
I would like to propose a view on the market that I do not see anybody talking about and that is a range bound symmetrical triangle on the daily. Because price is now range bound, I expect price to be choppy and random. Will be harder to determine the direction. I still have a bearish bias and think SPY is headed to 260 minimum. Out of the break out, price can...
Is this setting up for a bullish 1 2 3 pattern to take out 4300?
Today is Friday the 13th and kicking off with a nice sell off in the market after yesterday's lack luster CPI data. As of now, ES is trying to find support at the 4 Hour's 21ema and the up channel. It is looking like it wants to crack through. I can see a bounce off the open for a continuation down.
Here on the weekly chart of the ES I have come up with 2 scenarios that I believe have a high chance of playing out. Both of which involve ES coming down to 2750 area and both of which involve a massive bull run in 2025. Scenario 1 I have a massive sell off to start the year followed by a range bound market down at the covid lows/ major demand/ channel...
After two months of Bullish activity, price has just broke out of the major down trend line that has been in place since the correction started back in January. I expect price to use the back side of the trend line for a bounce back into a bull run up to at least 4600.00 Price is almost at the 0.618 Fib retracement. Either this is a breakout with the continuation...
AAPL is sill in its downward correction phase on the weekly time frame. At bare minimum it has 10% left to fall. Worst case is another 35%. I will be watching how it reacts to these demand zones. Since AAPL is so heavily weighted on the SPY, I have an inclination to say that SPY still will drop more.
Today is a slow grind up, on the possible right shoulder of the head and shoulders. FOMC today. Today can break either bullish up or bearish down. I can see both happening and as such I feel I do not have a good enough edge and will sit out. Only observe. 3818 is the neckline of the head and shoulders. 3910 is the daily 21ema. Both are areas that price can...
Here we have a downtrend starting in December. NFP is on Friday. I believe we have a head and shoulders pattern setting up. I will not trade in front of the NFP but I believe it will be used as the catalyst for the break of the neckline. I will wait for the retest of the neckline and or the retest of the downtrend line. Looks like first week red. First red day.
From my personal opinion, I am seeing a Leg down followed by a correction, followed by a measured move back to 3500. It measures out perfectly. I have an OCO order for 3818.50 short with a 1.5X ATR stop of 50 points. Target is just shy of 3500 or a 6:1 opportunity. I will add positions upon further GBI's once in profit, IF, trade executes. Price must trade below...
I suspect this is the last leg of the bear market. I am targeting the 3200-3400 area. I entered after the FED day expecting the next day to violently sell off. I was correct in my thesis. I then added upon the close of the break of the trendline. I will hold until target of 3300 is hit, possibly around mid-February.
Just using the past bar pattern data to line up with the current data and it would seem as if the Short Sell scenario will have a good chance at unfolding. I am currently Short at 3927.50 with my stop above at 4080. Time Stamped on 12/06/2022. According to this data, I will be 115 points under water. What got me in was the failed bounce off of the 21 ema alongside...
Just using the past bar pattern data to line up with the current data and it would seem as if the Short Sell scenario will have a good chance at unfolding. I am currently Short at 3927.50 with my stop above at 4080. Time Stamped on 12/06/2022. According to this data, I will be 115 points under water. What got me in was the failed bounce off of the 21 ema alongside...
Creeping Trend into 4000 inside of a peak formation. Looking to Buy the Low of Day or Yesterday's Low, depending on the reaction of price action. Looking for a spike down on opening followed by an engulfment or pin hammer for the long back up 50 points. NY session like clockwork moves 50 Points a session.
I have been waiting since August for this sell Opportunity. I believe 4025 is the next Sell area into supply. First sell off was at 4625, second was at 4325 and now potentially this one at 4025. It is no coincidence that they are all 300 Points from each other. On top of that each sell off was at 141 days apart exactly. This small rally we have been seeing since...
it is official, the bear market is over. Price is now in the bullish zone. I am looking forward for ES 5000.00 The weekly candle just broke above both the EMA and the down trendline. All bullish signals.