Spy

Looking for a 468 gap close this week on spy to finish this Rising wedge pattern...

Similar pattern on DJI and QQQ

IWM

This flush will basically flush the entire holiday algo melt up last 2 weeks..

I'll update this with sectors later

Comment:

Nq 1hour chart...
Looking for a push back up to 17070 then a flush down 16,800

17070 was previous H&S neck line

Banking sector KRE and XLF are pretty much tied to IWM success.

XLK (Msft and aapl)
Same rising wedge as the indexes so im expecting a simliar flush

Comment:

Big tech is dragging as expected..
Keep your eye on 406.35 on QQQ.. stays below that and were headed for weekly target of 403.00 gap close

Vix is interesting this morning..
Currently sitting right below 50sma and resistance at 14.50

Things get nasty if vix breaks over 14.50

Other wise we bounce at 403 qqq


NQ almost at target

Comment:

Qqq 403 gap closed..
Looking for a bounce here into EOD

Comment:

Value stocks doing well today..
The rotation into them started MID December

PG
Ko
WB
KHC
CHD
Csco

Comment:

Move completed on QQQ and NQ.. looking at the money flow on the NQ 1-4 hour combined with the CCI on the vix i think QQQ has a high chance of closing gap back at 409 this week..
Thats the technical side IMO.. minutes and job numbers could influence otherwise or catalyst it

Comment:

Wierd.. qqq made the expected move down but since no one really sold Financials or health the dow,spy and IWM didnt hit lower targets..

Vix got crushed and rejected off 50ema/sma..

Comment:

Chip sector SMH
Bounce of 169.. couldve been a double top if 169 had broke.. unless 169 breaks they will buy the dip

Comment:

408-409 to form right shoulder..
H&s back to 384

Comment:

Nq daily chart..
Bounced off trendline support from November...
4hour RSI,CCI and money flow in the dirt...
Technically you dont want to be short here .

The only bearish technical i can see is high volume and 3 red candles or 3 black crows .

Ill be back on later

Comment:

Just checking back in one more time, ill be headed to the gym and gone for the day..

Qqq and NQ tested and bounced off their 20/21 SMA/EMA.. you buy dips at those areas.. If qqq ever closes back below its 21ema thats when short and sell the pops.


Bullish scenario on QQQ if it breaks back over 410..
Megaphone

Not trying to confuse, just trying to be prepared for any fawkery. Right now im long to 409 on QQQ with a stop loss of 400..

Catch you'll later

Comment:

Good morning... Back where we left out at... Spy gap at 468 is still open
So is IWM 196 gap

Both were my weekly targets..

Qqq has already hit my weekly target and is holding 400 .. but for spy to dip 468 i think this could pull QQQ to 398 gap close...
Unless... They hold 400 on QQQ and sell Banks, cylicals, and health...

Either way im expecting a pop and Rally by EOD or Tomorrow

Comment:

DXY or dollar has rebounded since late December lows bouncing off support.
Now almost at the top of its channel.. a Breakout here wouldnt help equities.. if it rejects channel then DXY will retest 100.9

Comment:

Iwm 196 gap closed

Comment:

Qqq 15min chart..
Falling wedge building here off 400

Comment:

Qqq closed gap at 398..
Below that and we can kiss that right shoulder good bye and this will double top to 384...
We hold 398 and the long target is still 409

Comment:

10yr at 4.00 resistance
Vix at 50ema resistance
Dxy at channel resistance


Qqq and IWM near support..

Math is mathing

Comment:

Games ..

Heres ES 4hour chart... on support here 4746..

Scenario #1 which im fond of
We bounce back to 4800 to form right shoulder for a H&S drop mid to late jan.

Scenario #2
We break 4746 support today and double top to 4547

Comment:

Look at vix 15min, you see the twin peaks ? Now look at qqq and IWM, you see the twin bottoms?

Comment:

Nothing burger.. notice some dips bought on big tech but qqq is closing under 21ema which is bearish... iwm. Broke support and going for 193 gap close... crazy thing is, dow still hasn't hit my 37,000 gap close... may keep things down until Friday big job report

Comment:

Morning... qqq opening up on 396.50 gap support from 2022

Below that is 390
Over head resistance is 398.50


I dont like the short at the open.. if qqq breaks 395.50 then short, unless that its buy the dip

Comment:

Nq 1hour chart..
Falling wedge with bullish RSI

Comment:

Needs so volume or Catalyst to break back over 400 on QQQ..
Maybe job report tomorrow will do the trick.. .
Upside targets tomorrow are
Spy 473
Qqq 402-404

Comment:

Morning... No pop...
Nq 1hour chart... still inside wedge
Currently near support ..
Most likely they'll buy this back up to resistance... if no break out, the slide continues...

Vix daily chart

Gapped up to 50sma and resistance and got knocked back down... maybe another Vix crush friday incoming

Spy support at 464.70
Resistance at 468..

I wouldnt short unless below 464 or spy rejects off 468

Comment:

Spy bounced up to 470 resistance or 20sma
Qqq at 398 .70..

NQ broke out so far , we should see some follow through but we need qqq and spy back above 20sma ...

Scalped Amzn this morning.. easy trade cause it opened up on its 50sma..

Done for today.... be back on later

Comment:

Spy, qqq and IWM all trapped below their 20 day moving average..

Dow jones is curling over and i think they will tank next..

Usually when the 20 is lost the 50sma is next
Have to follow the trend here...

10 year and dollar both bought up after dip

Comment:

The Dow , NYA and Banks out performed last month. I think the banks will be next to go along with health..
XLV or healthcare sector is a big mover of the dow (JNJ,UNH)
XLV daily chart.. extended at resistance

Comment:

Do some homework over the week.. pay close attention to the daily and weekly candle structures and where they are at in relative to their moving averages.
Out of all the magnificent seven, meta and NVDA are the only ones above their 20..
Googl,msft and amzn are barely holding on to their 50sma.. what ever starts the rally usually kicks start the correction.
Tech led the rally back in November.
Iwm finished with a shooting start reversal candle on the weekly.

Catch you all monday ✌..