We're already to 3750 area on futures, I assume they will attempt to hit 3770-3800 today. I don't think it goes much higher than that although the green path is there just in case. I expect a fall from these levels to 3500 in the coming weeks - yellow path. This lines up with what I see on AAPL and other stocks. The short idea is invalid if they can start getting over 3820 on a daily close. Good luck!
Comment
⋅
taking a few shorts here
Comment
⋅
ES trendline reached (these charts are delayed by 15 minutes)
Comment
⋅
Alternative trendline now in play, not sure it gets there, watching for reversal. AAPL is weak.
Comment
⋅
AAPL looks like it broke trend and has retested it. Could be a sign of a breakdown about to come. Over 147 and that idea would be negated
Comment
⋅
AAPL now broke horizontal support and has retested it, which is an objective short area, if correct we should see selling pick up soon.
Comment
⋅
AAPL so far this is looking good for bears - so far
Comment
⋅
they are shaking out shorts I believe. AAPL still looks like an ABC here after a messy impulse. Above 147 would be problematic for bears, otherwise this could be 1-2 complete
Comment
⋅
SPX took out stops at the very end of day. Makes sense if they want to reverse it overnight/tomorrow. We'll see.
@peterbhc, could be, 3800 has been reached on ES, a pullback in this area is what I'm thinking - we'll see if right.
Faux_Pas
⋅
A retest or bounce?
the_sunship
⋅
@Faux_Pas, I believe they are trying to push out shorts. Watching aapl as the structure is clearer.
Faux_Pas
⋅
Ooooh, that’s right. I’ve stopped trading with actual stops, because I’ve been shaken out a few too many times, and instead use mental stops. Where would your stop be?
the_sunship
⋅
@Faux_Pas, if they get over the high of today a lot of stops will get hit, surely. I personally use stops for closing prices, so I don't want to spy to close above 379 today or tomorrow.