SPX weekly preview, with guest stars DXY, USOIL, GOLD, USOIL

Jan 8, 2023

All details in the video. Bias is now up on SPX but this week will be crucial to close above 3940. A failure to hold the 18 ma would be bearish.

Dollar has an inverted hammer on the weekly chart - a warning of reversal. Gold also in a precarious area, USOIL needs to hold 70 otherwise 65 looks likely.

Good luck!

Jan 9, 2023

Note

es has reached 3940 level in premarket. i expect a pullbback here.

Jan 9, 2023

Note

on spx cash there's a gap above - look for that to be either resistance or filled. Powell speaks tomorrow so that's a wild card. Personally waiting till tomorrow to see what the market looks like.

Jan 9, 2023

Note

spx cash has reached it's pitchfork boundary, fwiw. We are stopping at the gap area. The BB and 200 is above, normally I would say they will try to reach it, but I'm not sure as of now.

Jan 10, 2023

Note

looks like reversal candle on ES but we're still over he weekly and daily 18ma's so the bias is still up for now. They could not hold the 50ma or the pitchfork fib on ES, interesting. Perhaps both get tested again tomorrow. Remember Powell speaks at 9am tomorrow so expect a few crazy moves during the speech.

Jan 10, 2023

Note

good morning, looks like a bear flag was created overnight - if so, the target would be around 3830

Jan 10, 2023

Note

bulls need to hold and close above 3940 to continue the uptrend. As of now this looks bearish, but Powell's speech may give some fuel to the bull case, let's see what happens, good luck!

Jan 10, 2023

Note

Powell speech is probably going to get us to test 3915-20 but i think there will be rejection if we get there.

Jan 10, 2023

Note

putcall on index and equities still quite subdued

Jan 10, 2023

Note

ES target reached, should be the high for today if I'm right about this move. I have many errands to do today but will check in later - good luck to all.

Jan 10, 2023

Note

welp it's a rising wedge. probably end at the highs at the end of the day.

Jan 10, 2023

Note

the rising wedge broke, they may try getting one more high out of it before close.

Jan 10, 2023

Note

yep one more high at close, should scare out many shorts. I still think it goes lower.

Jan 11, 2023

Note

the retrace is looking too high for a straight down C wave, so I'm thinking a down move will be the C of B before a final C up - I expect the downmove overnight into tomorrow. Perhaps CPI will be the reversal, or the final move down before they buy it up. RSI level will need to be watched for hidden bullish divergence. I'll do a post about this tomorrow once I see overnight price action.

Jan 11, 2023

Note

overnight they hugged the rising wedge. we're backtesting it again today. For the brave, this is a short opportunity with a tight stop. Keep in mind CPI is tomorrow and today's and overnight action can be obliterated within 2 minutes of the CPI announcement at 830 am tomorrow.

Jan 12, 2023

Note

we're close to an old trendline, let's see if it means anything - out for the day today - good luck!

Jan 12, 2023

Note

they are at the 200 daily ma, maybe they try to take it by end of the day. Market is acting like a penny stock today, good luck trading it

Jan 12, 2023

Note

we could go father, but the ja5 5th post target is close -

Jan 13, 2023

Note

good morning, looks like a reversal overnight. As of now we stopped at the upper BB and 200ma combo on ES. A rally this morning may be very short lived as CPI bulls will be trapped. Support is the 50ma around 3930 but if there's a rush for the exits, the 18ma at 3880 would probably be the likely support. Good luck!

Jan 13, 2023

Note

posted a new update, will update there for now - good luck!