Preview for the week of 7/9 - SPX QQQ IWM OIL Gold BTC

All in the video, mostly I'm watching spx to see if we get down to 4330-25 this week, which I think is a buy area. While SPX may idle here for a few weeks, QQQ may outperform to the upsdie. I expect IWM to be the weakest along with the banks. Some markets not so clear. USOIL may rally hard if it gets over it's weekly 18ma. BTC should get to about 32k, maybe more....

Good luck!

Comment:

Good morning, we broke the 18ma last night but now we are retesting it. If it rejects from there I expect 4340-4325 to come today or tomorrow, but at that point I expect support.

Comment:

battle at the 18ma, over it and it's bullish again under it and we're probably going down to the lower BB at about 4340-4325 area.

Comment:

The RSI on the mid time frames is quite low. If they stay above the 18ma today, this would not come as a surprise. In the meantime look for trashy stocks to rally.

Comment:

they will close above the 18ma, bias still up - this is still what I'm thinking into tomorrow and then CPI wednesday

Comment:

Good morning, a pullback to the 18ma at around 4k is possible but I think we'll go higher to complete what i think is a B wave.

Comment:

the rsi on the smaller time frames are hinting at a possible reversal, if so this may be a 2nd wave (or B) with the 3rd (or C) coming. Hard to tell exactly - terribly whippy market, but here's another possibility

Comment:

IWM in a heavy resistance zone here, just look at the price interactions for a year at this level....

Comment:

this possibility still exists, let's see how we open tomorrow. A gap down would surprise many.

Comment:

No sell off, CPI reaction was bullish so far. This 4 hr bear divergence keeps building. A little higher is possible.

Comment:

4 hr rsi now completely reset again with bear divergence. If you just follow the rsi, this is usually a sell area, but it certainly can go higher first. Weekly BB at 4528.

Comment:

both IWM and DJT showing relative weakness today. QQQ showing relative strength. I Still think QQQ holds up for a while but IWM and Banks starts to turn sooner. JPM earnings tomorrow

Comment:

good morning, spy and qqq up IWM down. Could see a pop up to 4530 for the weekly BB but I think it closes red for today.

Comment:

IWM broke channel. A retest IS possible but not guaranteed.