A potential Minor Retracemnt is approaching.
Should the ES continue to decline -it will drag
everything down with it.
Equity Markets are all highly Correlated now.
The NDX 200 SMA is below @ 14986. Typically,
it Dips in and reverses for a Countertrend.
Sellers remain in control, yesterday was an
50 SMA has crossed below the 200.
EMAs continue to slide.
Daily Lower HIgh for the Sequence
with a Lower Low.
Daily Count is 4/8 with @ 1% decline
yesterday coming in on the Failure @ 4568.
Once 4550 let go it was all downhill.
4505 is an important level for a continued slide.
4550 - 4568 should Limit the RT.
4425 is open on the break of 4505.
The EU Session open was a Bid for the ES and US Indexes.
A welcome change from prior Sessions where the SELL created
The Range into 10 AM EST where the SELL reentered to fail the
pre-Eu Session Open Highs and continue to Lower Lows.
Breather, relief, or Countertrend - will depend on commitments
to the potential for a large Squeeze.
Given the Conditions of the...
50 SMA @ 4678
100 SMA @ 4576
200 SAM @ 4423
Dip Buyers continue to look for a Relief Rally.
None has arrived.
The Selling is far too committed.
Losing 4575 implies the 4550 better hold or it's going to turn
far worse for the Dippers.
In doing my homework - I've trying to determine whether this market can rally in the weeks ahead?
With a 3 Trillion dollar market cap you need $APPL - As matter of fact if you watch Apple trade you can see the S&P 500 move almost exactly the same. Which never ends well on long enough timeline.
I reduced the number of indicators to keep the chart clean. They...
BLS Recalc whipped Inflation...
No, it did not, in Real Terms using the prior Basis,
CPI should have been 8.3%.
And they know it.
4750 will be the MAgnet, a nice round number.
It is best to wait for the 10 AM EST Reaction at present
to see how the NQ reacts to the LAager 50% at 16036.75.
Chasing here could end...
This is the monthly chart of CL futures.
Will history repeat itself? Back in April of 2000 CL set off a monthly bearish spike alert and around that same timeperiod NQ & ES made there last ATH's until Sept 2016 & April 2013 respectively. The long term non-horizontal monthly trend lines (blue lines) also look eerily similar. The blue lines run along the monthly...
We are witnessing the Larger 1/5 correction within the "C" Leg.
The Extensions reside @ 4426 and 4190.
Retracements should be limited to the 8/13 EMAs with the
21 EMA now acting as Support unit it does not.
"C" moved are generally quick and outsized.
There will be a Larger Retracrement when 2/5 begins, not
The FED has increased the probability of a 25...
Nasdaq has been selling off. Is this an economic collapse? Too early to say. Nasdaq has been flying high since the Coronavirus crash back in March of 2020. It's been long overdue for a steeper correction. I was shocked that it was able to keep climbing without a steeper correction in all of 2021. Nasdaq was overbought for the WHOLE year. So as long as the Nasdaq...
S&P is looking like a big drop lower if the december lows give out. And as long as we don't head to a recession, which I don't think we are, we will eventually make new highs. That means if you can stick out some turbulence you could get a profitable ride back to the top.
EPS Season has been in line with our Projections for Q4, dismal would be Kind.
As we move into Tech Reporting, it is important to remember Apple's guidance
fro 10 Million iPhone Delivery was low, and share buybacks were to be halted
into EPS during the Blackout Period.
Money Center Banks began reporting and were Sold.
Retail Sales missed by a large margin.
I finally got my own fiber optic line for streaming. So I wanted to test out a theory I had on fusing together ichimoku cloud pop, the curve, and the algo key code all mashed up together like it was some menege et trois. I decided to use the ES because it has the most movement this time of night and also it was blood red when I started which gave it no reason...
PPI and Unemployment Claims @ 8:30 AM EST
UST Coupon Purchases @ $6.3 Billion
ZN has hit .382 resistance, this is important as If ZN
is unable to break to the .500 Level, Rates will continue
to Grind Higher.
The Level's to watch 129.900 - Sell Below remains.
VIX - 17.75 is the initial Price Objective followed by
16.85 Price Objective now after yesterday's...
The Chart above observes the Algo Tuesday Draws.
Top-Down / Bottom-Up from the 2 primary .500 Levels
for the important timeframes.
The 4690 will remain extreme in importance to a move
Higher for the ES, the VFX (Jan VIX) will guide traders.
A pullback on open to lower Supports into the Gap Fill
and perhaps a Dip In to lower Price Objectives should
Extensions traded on the Breaks of 46's and 34's to 581s.
The retracement developed off the Low Ticks, with active Bullish
divergences appear in all Shorter Term Timeframes.
ALGOs did the rest, the HFTs had a field day as every minor RT was used
to expend further energy higher and higher.
VX Simply whipsawed into the...