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RealTima
Aug 31, 2022 8:09 PM

Bear flag after bear flag 

E-mini Nasdaq-100 FuturesCME

Description

2 days straight, this is about to break, must hold and gap up from here, or we go down much lower into 12000-30 zone

SPX closed not great as well, in the support cluster zone, tomorrow is a turning day, so can gap down and reverse into the 5th high.

I have already mentioned a possibility of a crash move, have to be super careful!
Comments
vishalaroradxb
Even For a 50% Bounce we need new money buying.....based on current Macro i ask who is willing to buy, so even a 50% bounce before CPI means new money will take a bet that CPI number will be low and fed will pivot.....(after Powell spelling it out in J.Hole that even after low CPI print he wont pivot and has to hold interest rate high ) who will buy and that also consecutively for few days to reach 4150...so i expect it to tag 3900 and may be for NFP a DCB to 4050 and continue down to 3750 before CPI.....
bwellnatural
@vishalaroradxb,Good point!
RealTima
@vishalaroradxb, good thinking, might be spot on with that lower target
sona_chandi
EWT folks are all expecting a decent bounce from here and then maybe a good flush...
bwellnatural
@sona_chandi, Hi Sona, What does UncleK is expecting? Do you have his counts by any chance? Thanks
sona_chandi
@bwellnatural, Thursday - SPX Pattern is Morning High, Afternoon Low
sona_chandi
@bwellnatural, SPX Target of 4021.44 valid until Wednesday close
bwellnatural
@sona_chandi, Thanks Sona, greatly appreciated! Have a nice evening!
RealTima
@sona_chandi, Thanks! Love those MEJT numbers
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