Just a few options for the SPX this week. I don't think we'll have either a moon shot or a big sell off, but we could end up at 4150 quickly if the potential bear flag plays out. All in the video - good luck!
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good morning , as of now it still looks like a bear flag. they are winding it up a lot so a breakdown (if it comes) may be strong. 4150 still target.
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bear flag foiled at open, hopefully we get one more high for more bear divergences.
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hard to tell exactly where this trendline is, but I would think the target is here to 4240 area, more or less. Doubletop or slightly higher high expected.
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bear trap, likely a C up and then a sell off. Should confuse the majority
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IWM getting a bid today along with bank stocks. It's hard to tell if we will pullback soon or not but my guess is either way, we will eventually go higher. The action today maybe a B and then C down, but ultimately that would just be a pullback.
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good morning, it does look like we are in the middle of a C down today, support probably at 4160-4150 area. The RSI on mid time frames are already quite low, a bit lower would look ideal for a next leg up. Will update if something else occurs.
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were close to the support zone. hourly rsi pretty low, my guess is a bounce soon and maybe lower into next week. the market is not impulsive at all
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if they don't stop soon, they may come all the way down to 4100 to test the previous downtrend. Now we're picking up some steam
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buyers have stepped in where expected, the question is do we bounce or do we sell tomorrow. I still expect a bounce from here for a few days.
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the sell of stopped at the secondary support, we'll have to see how it looks tomorrow. The rsi up to 4 hr is very low on futures, but it could be we get a small bounce overnight to reset it and then find ourselves at 4110 by close tomorrow, in which case, the bulls are going to have a hard time getting higher as many bulls waiting for 4300+ will be trapped.
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expecting a bounce soon, maybe at open, but resistance is above either way.
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test of downtrend reached, I expect a bounce, but let's see....
