Technical review of the stock market after the FOMC rate hike and Jerome Powell speech. All in the video - I'm tired and will update tomorrow.
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aapl will open at major resistance on both daily and weekly charts.
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aapl weekly
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Vix to lower BB
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ES to 18ma on the monthly chart.
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we have reached an area where all previous peaks except for august 2022 have stopped. Could go a bit higher, but this is an area the market should have difficulty with. Weekly 100 and BB slightly higher than here, 18ma on the month already reached. I see popular posts about this being the "time to buy" with no regard for previous peaks stopping here.
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the us dollar looks to be finding support at its 18 ma monthly
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vix is green
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18ma monthly on spy reached about an hour ago, someone else noticed.
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AAPL getting hammered after hours. Bulls' are saying it's gonna be like MSFT and bounce back hard. Probably not considering the technicals.
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NFP came in hot, so we may sell today. support at 4090 on ES and then the daily ma at 4060
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correction - daily 18ma at 4040. We would have to have a really bad day to get there.
If it's an impulse down, support at the 18ma daily would probably give it a head and shoulders look before more downside. If this is correct Monday gaps down.
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oil at its major trendline again, i think this time it breaks
Good morning, we are continuing the sell off from Friday, I expect we will get to the 18ma today or tomorrow (red line). I see a lot of people expecting another high, but if that doesn't come, a bounce will probably get us a head and shoulders patter.
Is the market just calling bullshit on JP continuing to raise rates? They just keep buying
the_sunship
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@BuzzedLightBeer, market has come up to test previous support zone, let's see what happens here. 4210 at the 100 ma still possible. Momentum is still up so momentum players are going to keep buying until it doesn't. It's a game of musical chairs at this point.
MinerChad
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Thanks for the update. I scalped the larger 5 min candles today. That FOMC meeting at 2pm -volatility was insane.. Then found a double support on the 5 min at $402 & blasted off to Mars.