S&P (SPX) Where to next?
Awesome week so far the Volts are back in full action, a high CPI number it was relatively expected moving risk off - DXY to upside, VIX Up, majors down & indices falling. On my week ahead newsletter I went through the indices and stocks of the FAANGS. More specifically I am going to mention Nikkei - That was one of my favourite cleanest set ups for this week and I still further downside ahead.
Now given the high US CPI numbers - 4%. Things get interesting fundamentally. Will they raise rates anytime soon? Will they taper! I think they will mention tapering end of summer August Jackson Hole - Is the key event I am looking out for. However, could be anytime...!
Indices having the worst days since Feb! Technically - it was only the matter of time...! Finally happening BUT...Now we are at a very interesting area
Technically:
Pattern Wise: Longer term - Rising longer term wedge
Key Support area: 4000** Area is key support area if we go below and close below of trendline up - bears will gain further control sell off could continue 3950 areas next move to 200 EMA areas!
Key tip: Focusing on the bigger picture helps execute shorter term trades.
Trade Journal
Just trade idea, not a recommendation
Awesome week so far the Volts are back in full action, a high CPI number it was relatively expected moving risk off - DXY to upside, VIX Up, majors down & indices falling. On my week ahead newsletter I went through the indices and stocks of the FAANGS. More specifically I am going to mention Nikkei - That was one of my favourite cleanest set ups for this week and I still further downside ahead.
Now given the high US CPI numbers - 4%. Things get interesting fundamentally. Will they raise rates anytime soon? Will they taper! I think they will mention tapering end of summer August Jackson Hole - Is the key event I am looking out for. However, could be anytime...!
Indices having the worst days since Feb! Technically - it was only the matter of time...! Finally happening BUT...Now we are at a very interesting area
Technically:
Pattern Wise: Longer term - Rising longer term wedge
Key Support area: 4000** Area is key support area if we go below and close below of trendline up - bears will gain further control sell off could continue 3950 areas next move to 200 EMA areas!
Key tip: Focusing on the bigger picture helps execute shorter term trades.
Trade Journal
Just trade idea, not a recommendation