Nothing much I can add, but few things:
Lots of evidence of the market hitting the ceiling
- SPX is at 61.8 fib retracement, very important to watch
- Added a trendline off Feb 2020 and Sep 2020 highs, we are right at the resistance zone.
- Main target (4308-30) is getting close to hit with no 4th wave pullback but relentless grind in a C wave up.
- Weekly bullish reversal is only at 4385SPX on closing level, we are not going to hit it today.
- Daily is at 4308, same as the main target, also a gap to fill.
- MACD, RSI, Stoch etc are all in overbought territory, can last for several days more to hit that 4308+ target
- We have 9 gaps on the downside left, I expect those to get fill in Sep/Oct
- VIX is giving another long signal and sell to equities, need to watch the close below the Bollinger band to confirm
Im only day trading and have few ES under the water I m holding.
Will be short over the weekend with NQ, especially if we reverse into the close and close below the highs.
My internet is still very bad and technicians are only coming tomorrow end of the day, cant trade much in this environment but using my cell data for small trades
Lots of evidence of the market hitting the ceiling
- SPX is at 61.8 fib retracement, very important to watch
- Added a trendline off Feb 2020 and Sep 2020 highs, we are right at the resistance zone.
- Main target (4308-30) is getting close to hit with no 4th wave pullback but relentless grind in a C wave up.
- Weekly bullish reversal is only at 4385SPX on closing level, we are not going to hit it today.
- Daily is at 4308, same as the main target, also a gap to fill.
- MACD, RSI, Stoch etc are all in overbought territory, can last for several days more to hit that 4308+ target
- We have 9 gaps on the downside left, I expect those to get fill in Sep/Oct
- VIX is giving another long signal and sell to equities, need to watch the close below the Bollinger band to confirm
Im only day trading and have few ES under the water I m holding.
Will be short over the weekend with NQ, especially if we reverse into the close and close below the highs.
My internet is still very bad and technicians are only coming tomorrow end of the day, cant trade much in this environment but using my cell data for small trades