Here is a quick update for those who follow my work and are not on our new site yet. It's a critical turning point here, going into the CPI report, so I want to share my thinking, and hopefully, you won't get trapped regardless of tomorrow's am outcome.
I'm doing a more detailed analysis, but I will post a short version here.
First of all, I pointed out last week that the 11th should mark the important high. Well, we got it! Now, it doesn't have to be a daily high, but the daily closing high! So tomorrow can be an intra-day high with am spike.
I still think we could get a sort of OCT 13th CPI release action, but in another way - Gap and Dump! If CPI will come in-line or a bit higher, let's say 6.6-6.7%, it can produce a knee-jerk reaction and sell from there.
There is a good fib confluence at 11600NQ for that move. Our main target got hit today, and I warned yesterday, that it should see a higher number; it did!
The price has closed right at the resistance, so it satisfied the whole move up right there, in case it is just going to dump from the open
Support and resistances are on the chart. I will also be doing SPX update and will post it at the end of the week here. This chart should be enough for those looking for a good analysis out there without any commitment.
So don't be surprised if you see a big spike up, DO NOT chase it! If it happens, I will use that opportunity to add to my short position
Comment
⋅
Well we are going to have a Gap, lets see how it does from the am
Big fan of your analysis sir. May I add that we are seeing a 'CUP' when you look at 4hr and daily charts on RTY, ES and NQ!. Being drawn to patterns I saw this forming and it's a phenominon to me but they usually always fullfill formation. Me personally, I will short ES at 200MA and NQ at 12000 which would be close to 200MA. I hope I speak for everyone here but your analysis is of great value to us all! Thank you.
RealTima
⋅
@foreignSeahors83873, Totally agree on a C&H possibility, it all depends on the next week's retracement. So far a gap-up is setting up in the indexes. My NQ target is 11600 and 11800-35 to trade short, waiting patiently, as the first number is coming up
KT1925
⋅
I told you to move your short out. You kept shorting. Your March position is going to get slaughtered. You have been calling short even after the Oct 13th and "crashing". You are just the opposite of Avi Gilburt on the bull side. Even winning you will end up losing because of your bias.
RealTima
⋅
I dont get what you're saying. Don't you see that I've been long since early Jan here? After Oct 13th, there was a high possibility for a crash, but it didn't come true, which is good. But I did warn about that possibility! We nailed every single turn since our site started! We were long all the way till the 11th! Also, if you read my update here, you can clearly see that extensions are possible; that's why I have an "extension box" out there. Also, the main target got hit on Friday, so if I have a main/primary target (which was not hit at the time of this post), how can I be short, knowing it's going higher? Then And if I don't post my updates here, it doesn't mean I'm always in one position! I guess this is the attitude I get for posting my expertise and spending time doing that for free! The only reason you're upset is that you're on the wrong side of the market; stop blaming others but yourself. I was warning our subscribers not to short this week, all the way till the end of the day on Friday! I guess if you want to see ever-yday updates with the directional changes dates as well as life trades, you will have to sign up with us; then you can make a judgement on who was wrong and who was right and pay $55 a month or continue paying a minimum of $100 (usually ends up $300-350/m) for Avi site, who was wrong all year long! P.S. your comparison to Avi is entirely unrelated to me; he was the one who was wrong all year long! I was riding this thing into year-end! And dont tell me there was no end-of-the-year selling, dont tell me I didn't warn that there wont be Santa Rally like most were looking for! Enjoy your weekend!
parabolizer
⋅
Hey, is the forum on your site broken or something? I can't see any threads as of this morning, even if I search. Thanks.
RealTima
⋅
@parabolizer, It seems, that you didn't subscribe to any services, that's why you can't see any updates any longer. The Free Trial was ended
wilson999
⋅
Thx Tima. The best market contra indicator „JUST IN: Jim Cramer says charts suggest the market could rally for the next couple of months.“
RealTima
⋅
@wilson999, Beautiful, then my tonight analysis of the NQ to make its final trip to 10k and then 9-9.1k should play out well:)
May I add that we are seeing a 'CUP' when you look at 4hr and daily charts on RTY, ES and NQ!. Being drawn to patterns I saw this forming and it's a phenominon to me but they usually always fullfill formation.
Me personally, I will short ES at 200MA and NQ at 12000 which would be close to 200MA. I hope I speak for everyone here but your analysis is of great value to us all! Thank you.