Update on the SPX, possible wyckoff top playing out here. Under 4070 and the market is going to start having some real problems.
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we're closing under the 18ma daily, bias is down.
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good morning, with the NVDA move last night the market finally got the bounce I thought was coming, so now we are close to a resistance zone of 4150-4160. RSI's on small time frames are reset my guess is something like this today at some point. If wrong I will update.
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gdp and jobless claims at 830, might be the turn, let's see. if not will update
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they keep hitting this resistance, a break above is bullish into the close.
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tech now showing daily bear divergence, it probably goes a bit higher into tomorrow at least. The market won't drop until the megacaps do.
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doji candle on the day, not really sure what to make of it, we didn't really follow through after getting above the mornings high. update tomorrow
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after the numbers this morning, they tested support and held. small time frame rsi is suggesting a pullback, but 4 hr has plenty of room to run up, so it's hard to tell what's setting up. More chop may mean some beaten down stocks rally. A higher high is still not out of the question on SPX
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maybe something like this if the top isnt in yet
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nope, they got right up to 4170 area - the next resistance mentioned in the video. It's possible this is a B completing, hard to tell, but here's the idea if C starts here.
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up to the gap area on SPX cash
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gap filled, it can go higher for sure even if it's a B wave and C next week.
I'm curious what you think of AI (C3ai)? You mentioned it a while ago before it took off. Great call by the way! Earnings next week, could get interesting.
brennemanseth18
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@brennemanseth18, Sorry I hadn't realized that you updated the original post. You can disregard my previous comment.
the_sunship
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@brennemanseth18, if semi's continue to climb, AI probably gets past 40. weekly chart looks like it could run a bit more.
TORNADOF5
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it seems the bullish dollar made this crazy crash as well close to tope