Want to make a special disclaimer here:
Do not bet your house on this if you're trading futures (ETF option market is closed) as I might be completely wrong!
I want to present you a possibility of another mini crash tomorrow (Oct 13th like) maybe even limit down!
If CPI comes hot tomorrow am that could produce another huge sell off like we saw on Oct 13th.
CPI poll, make your bets here, share with others:
strawpoll.com/polls/3RnYpNPjDye
There are several big issues out there which can contribute to a potential move down:
- Treasury reduction,
- Crypto crash (leading imo),
- Hot CPI,
- 10 year action,
- Midterms uncertainty (10000% rigged again)
- Liquidity is a bigger problem then ever this year (there wont be a bid till it's limit down imo)
- Lunar eclipse
- Also SAR produced 3 days dots above the price, means the trend is lower and we have a perfect 1-2 setup to the downside
Now lets talk about the price and levels:
All we need is an open below 3689-3700 and continue sell from the open
Supports are at:
- 3689 SPX
- 3610-45 SPX (support box) where 3610SPX is the maj support, loosing it we get down to:
- 3543-52 SPX
- 3509 is where the limit down target is
- Below 3500 it will not stop till 3415SPX!!!
So if this happens you are ready and prepared to trade it.
Opening below 3689-3700 will act as a maj resistance for tomorrow and all stops must be there.
I will add to my short either before the CPI or right after.
Trail short from the open and seat back and relax, as if it goes, there wont be any good bounce due to lack of liquidity.
Ideally we see a ramp up into the numbers, but with the election results it could be muted and we wont get a desired rally.
Ideal resistance for tonight is at 3780-85ES, I will be closing my longs from 3756 there and flip short with a wide stop.
So again, this is a potential I see for tomorrow, if Im wrong and CPI comes lower then expected we could see a decent rally up to 3900 if not 4k (not in one day of course)
Do not bet your house on this if you're trading futures (ETF option market is closed) as I might be completely wrong!
I want to present you a possibility of another mini crash tomorrow (Oct 13th like) maybe even limit down!
If CPI comes hot tomorrow am that could produce another huge sell off like we saw on Oct 13th.
CPI poll, make your bets here, share with others:
strawpoll.com/polls/3RnYpNPjDye
There are several big issues out there which can contribute to a potential move down:
- Treasury reduction,
- Crypto crash (leading imo),
- Hot CPI,
- 10 year action,
- Midterms uncertainty (10000% rigged again)
- Liquidity is a bigger problem then ever this year (there wont be a bid till it's limit down imo)
- Lunar eclipse
- Also SAR produced 3 days dots above the price, means the trend is lower and we have a perfect 1-2 setup to the downside
Now lets talk about the price and levels:
All we need is an open below 3689-3700 and continue sell from the open
Supports are at:
- 3689 SPX
- 3610-45 SPX (support box) where 3610SPX is the maj support, loosing it we get down to:
- 3543-52 SPX
- 3509 is where the limit down target is
- Below 3500 it will not stop till 3415SPX!!!
So if this happens you are ready and prepared to trade it.
Opening below 3689-3700 will act as a maj resistance for tomorrow and all stops must be there.
I will add to my short either before the CPI or right after.
Trail short from the open and seat back and relax, as if it goes, there wont be any good bounce due to lack of liquidity.
Ideally we see a ramp up into the numbers, but with the election results it could be muted and we wont get a desired rally.
Ideal resistance for tonight is at 3780-85ES, I will be closing my longs from 3756 there and flip short with a wide stop.
So again, this is a potential I see for tomorrow, if Im wrong and CPI comes lower then expected we could see a decent rally up to 3900 if not 4k (not in one day of course)
Comment:
Also want to add here:
If we do get a limit crash day, it wont be one day event, more weakness will be expected all the way till the 21-22nd low!
If we do get a limit crash day, it wont be one day event, more weakness will be expected all the way till the 21-22nd low!
Comment:
Morning, well this possibility is off the table.
CPI came lower, Job claims higher
Futures above yesterday's high, a bullish sign
CPI came lower, Job claims higher
Futures above yesterday's high, a bullish sign
Comment:
Futures are above yesterday's highs, as long as it holds for the open, its a bullish action imo
Main resistance today is at 3905-08SPX, closing above we see 4k zone next
Main resistance today is at 3905-08SPX, closing above we see 4k zone next
Comment:
The price must get above 3880ES and stay there, otherwise this can be a trap
strawpoll.com/polls/3RnYpNPjDye