Weekly Preview and possible bounce scenario - SPX IWM SOXX AAPL
All in the video, just the basic idea for the upcoming week and maybe into the following week. Support at 4300 is strong, a swift move down under is possible into Monday but I don't think it will break (as of now). A small bounce for a week or more is likely, and I think tech outperforms. Enjoy your weekend and good luck!
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Good morning, it looks like we're in an ending diagonal, a move up and then final flush down before a bounce looks good to me.
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channel needed adjusting, this looks better. we are breaking below it but it may be a false breakdown. We are at 4300 in premarket.
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this still looks good, after open bounce then panic sell under 4300 brefly. If wrong I will update.
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iwm gap filled and reaction.
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could be 4 is close to being done depeneind on where the trendline is for the majority, not sure. I still expect one more low, but it may not happen.
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aapl getting under 173.7 to take out stops is still my primary scenario, but that may not happen.
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relabeled the count, but as far as I can tell we're still in a 4th wave with 5 coming soon, could be wrong.
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if correct that or close to that is the top for today.
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Bears will have to come in here and reverse it, otherwise it looks like a breakout. Still think this is a bulltrap, but it's getting pretty high.
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ok that should be it, bounces should be sold into the end of the day - good luck
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previous wind up channel (lower yellow line) holding back price here. the channel is still remembered
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were in a triangle - i think it's B of 4 which means another move up. IF there's one more move down (i think so) a move up into close or at least close to the close could be a bull trap with a decent gap down below 4300 tomorrow.
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pennant breakdown down so it's going to look like an ugly close, but I don't think tomorrow will be a down day.
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false breakdown - take out shorts by close I assume. Still a bull trap as far as I can tell. (AB and now C of 4) 5 tomorrow or overnight
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ok looks like C of 4 was the end of the day. I still expect lower. Note the hourly rsi is extended and could use a reset. WIll update tomorrow before open. Good luck!
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sell off overnight but still looks like a consolidation a move down (if it comes) will probably be a fake breakdown. I've redrawn the channel the market seems to be paying attention to.
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AAPL taking out stops as I thought it might. Today it should reverse. IWM strong out of the gate.
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support shelf on SPX reached, a little lower may happen but this is the target area. I expect bulls to come in at some point today.
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bullls making an attempt but nothing certain just yet. If they can keep pushing over 4300 it will likely get more traders buying
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NQ triple divergence on 15 minute, could help the bulls finally.
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market just keeps creeping down. They say "never short a dull market" this is the same in reverse. I think it's best to just wait for some kind of recovery. Right now QQQ is barely holding on to this wedge, I thought they would save it by now. We are firmly under that support shelf mentioned (4300)
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well, qqq held the wedge into end of the day. Some buyers came in at the end. Nothing is certain, so we'll see tomorrow. I'll update tonight a few things that caught my eye.
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there's a gap on ES (futures contract) which almost was filled today. Traders may have stepped in early in anticipation of it being support at the end of the day. It may be enough, we'll see tomorrow. If they bounce from here it would simply be a test of the head and shoulders neckline, so the bounce will likely be muted.
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Looking a lot like a Wykoff distribution top - school.stockcha...b/exe/fetch.php?media=mark...
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good morning, a modest push up overnight but I think it will continue to form the first part of the countertrend rally. Cup and handle bottom target approximately 4330. Probably best to wait for the previous highs to be taken out. Good luck!
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IWM outperforming pre market, worth a watch for the other indexes.
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qqq to the top of wedge. it may stall out here, but if it breaks out, should be a good run.
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right now on spx looks like a B wave bear trap, but no guarantees.
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QQQ bottom of wedge - again.
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QQQ and spy both look like this to me, but one more down into end of day is possible still.
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Q's getting some action, close will be important
