This post is similar to the one I released on Twitter this morning. Maybe a bit more details.
Daily:
- Bullish Ichimoku, but as I wrote it last week, it has become a too much. Market is stretched here, Price is too far above Kijun Sen, so it is still extremely overbought! Short squeeze should be over soon, and some profit taking may take place. This will not change Ichimoku bullish setup, but we may finally see a healthy correction.
- Heikin Ashi shows bullish momentum started to drop. Lower candle highs, smaller candle bodies, but still no lower wick! haDelta printed an extreme high las week, this is a warning signal for an interim top too!
- Bullish supports (and possible retracement lvls) are: 4500-4530 / 4400+ / and ultimate key level is 4350!
4H:
- After Draghi+China all in, market started bullish consolidation ard 4600+ level. Pull back has not yet started, but it is possible to hapen within few days.
- As you see, bullish support is 4500-4530 area.
I think first we'll see 4500-4530. If price popes again from that level, then the next thing we have to watch if a higher or a loIwer high! If no higher high, on the following wave we'd see more correction towards 4400.
SPX chart I don't post this time, they move in tandem. I think NAS100 is a better candidate for counter short.
p.s.:
I enterred short in Nasdaq100 Dec/15 futures.
Daily:
- Bullish Ichimoku, but as I wrote it last week, it has become a too much. Market is stretched here, Price is too far above Kijun Sen, so it is still extremely overbought! Short squeeze should be over soon, and some profit taking may take place. This will not change Ichimoku bullish setup, but we may finally see a healthy correction.
- Heikin Ashi shows bullish momentum started to drop. Lower candle highs, smaller candle bodies, but still no lower wick! haDelta printed an extreme high las week, this is a warning signal for an interim top too!
- Bullish supports (and possible retracement lvls) are: 4500-4530 / 4400+ / and ultimate key level is 4350!
4H:
- After Draghi+China all in, market started bullish consolidation ard 4600+ level. Pull back has not yet started, but it is possible to hapen within few days.
- As you see, bullish support is 4500-4530 area.
I think first we'll see 4500-4530. If price popes again from that level, then the next thing we have to watch if a higher or a loIwer high! If no higher high, on the following wave we'd see more correction towards 4400.
SPX chart I don't post this time, they move in tandem. I think NAS100 is a better candidate for counter short.
p.s.:
I enterred short in Nasdaq100 Dec/15 futures.
