Im long here NQ and ES, tight stop though.
Needs above 11275, the target is 11380-90 by 6am or so.
If we see this move before the PCE numbers, I will exit longs and go short.
What if it will be a repeat of what happened last time PCE number was out.
Tomorrow should move the price above the last several days range, its also a directional change day and it could be a move in one direction but outside of the range.
So a low tomorrow or Monday (Im in a low on Fri/Sun for the futs) and rally into at least 5th or even 7th.
The rally will be muted and choppy imo just to reset the indicators.
Tomorrow is a not weekly, but monthly and quarterly closing!
Should be very interesting close and if it looses today's lows we could see another 100 points plus cut
Have a good night!
Needs above 11275, the target is 11380-90 by 6am or so.
If we see this move before the PCE numbers, I will exit longs and go short.
What if it will be a repeat of what happened last time PCE number was out.
Tomorrow should move the price above the last several days range, its also a directional change day and it could be a move in one direction but outside of the range.
So a low tomorrow or Monday (Im in a low on Fri/Sun for the futs) and rally into at least 5th or even 7th.
The rally will be muted and choppy imo just to reset the indicators.
Tomorrow is a not weekly, but monthly and quarterly closing!
Should be very interesting close and if it looses today's lows we could see another 100 points plus cut
Have a good night!
Comment:
I have included the fibs extensions, as we are already below 100%.
As you can see there is plenty to go: 3500 and 3410!
So be careful with sizing. Its getting close to an end soon, maybe it will tomorrow or Monday if we see 34 handle, then a good size rally will be expected, ideally at 15-17%
All we need is a gap below todays low and its out of the range. Otherwise SPX is flooring here and can see a spike back to 3830 and even 3940-60 before lower again.
I will update tomorrow during the market hours.
I have included the fibs extensions, as we are already below 100%.
As you can see there is plenty to go: 3500 and 3410!
So be careful with sizing. Its getting close to an end soon, maybe it will tomorrow or Monday if we see 34 handle, then a good size rally will be expected, ideally at 15-17%
All we need is a gap below todays low and its out of the range. Otherwise SPX is flooring here and can see a spike back to 3830 and even 3940-60 before lower again.
I will update tomorrow during the market hours.
Comment:
VIX closed below its resistance for the 3rd day, another sign to be careful with shorts.
Tomorrow's SPX levels of importance are:
- 3636-39 (again)
- 3580-88
- 3543-52
- 3500
Resistance is at 3745SPX
DOW must watch number is 29600, that already where Feb 2020 high was!
I think ES to follow to test that high at min.
Closing below 29600 will bring 26700 next!
Tomorrow's SPX levels of importance are:
- 3636-39 (again)
- 3580-88
- 3543-52
- 3500
Resistance is at 3745SPX
DOW must watch number is 29600, that already where Feb 2020 high was!
I think ES to follow to test that high at min.
Closing below 29600 will bring 26700 next!
Comment:
Congrats to those who shorted pre PCE number release as mentioned last night. Should be able to pull at least 20 points in less then 30 seconds!
Here is my SPX chart: