Over night is on both sides so looking like a range test on both sides long and short. watch chart for lines not mentioned in the text part. and today looks like we have closer to a plus 5 adjustment for ES. The choppy, over under area watching today is 2998 to 3005, so above i look long to as high as 3015 and below down to 2988. Break further than these points...
The overnight is balanced action right around the ATH area and is definitely pointing to the market moving to higher levels yet again.. so moves above 3018 (add 4 for ES #) or move down to 3012 I will be stalking a long position. Any move below 3012 could see retrace down into the lower marked levels and if this becomes impulsive even lower. However I will be...
SYMC is at the bottom of a bull flag trading range and in the midst of an expanding triangle. Prices have been volatile the past two weeks, with gaps up and down. Both sides are fighting for follow through. The bulls have a slight advantage because we are near the bottom of a bull flag trading range. The bears need a strong breakout below the 16 higher low. ...
The over night is all bullish, so will expect a open that will do two things one is a retrace back to the 3014 ( plus 4 for ES numbers)area and then a upwards slow grind, or a impulsive opening up move. So until shown different will remain on the long leaning bias. I do not have targets for a move higher and are not really needed, these moves up at ATH have proven...
Today we again get a small gap up that could close up early in the day and set up a decent long trade. Looks to me like a pop up to at least 30144 (plus 4 to 4.5 for ES) the range I am looking at for consolidation range trade is 3000 to 3008, so the move above 3000 could bring a 14 point trade and a move below could bring an 11 point trade, we again will be...
today presents some very important levels that can turn into some very solid long term directional bias. I will become very bullish over 3004 ( plus 4 for ES) and very bearish below 2959 (ES plus 4) and a mid term bearish level of 2995 with a target of 2984. Will be important to observe who takes control today
Looking at the 1590 and the 1550 area on the russel index as a clue to help guild what direction to trade any of the other 3 major indices and the rut, so in between these values could be a choppy trade
S&P New All Time Highs - Risky Buy
The Emini and S&P 500 made a new all time high again today, leading many to believe this market is still strong. In some ways it is, but it is more important to realize it is also in a bull flag trading range. This makes it a risky place to buy up here. This is where strong bulls who bought lower will start looking to take...
Other than the massive pop the over night had a big move with a balance consolidation so I think we could move back down to 2983 area ( plus 3 for ES) and then see the up move continue to the 3000 price level. in the event a move below 2980 - 2977 area then a strong move to 2967 is very possible. Now based on past days the most likely idea is a normal low volume...
ES is trading 4 points over SPX500
one more day with the overnight mostly all moving down so first idea will be to short any bounce 2969 area, over that value we could see some revisiting of yesterdays trade range. The down move however could start to see some decent action with support levels at 60, 55, 46, and 34. will look for a move up to short or a impulse...
Trading is hard work - But no one wants to hear that it is hard work. Everyone wants a short cut. A short cut does not exist. If it did - everyone would use it and the market would cease to exist. Everyone who starts out trading is lured in by the profit potential. You might get lucky and make a quick buck. But over time you soon realize that trading is a job,...
This topping area has taken 2 years to top. That would make this top a HUGE top and we could presume it could take more than 2 years to play out the bear market. To me this top is similar to most tops before bear markets, expect that it is much larger in every way than any other top. This top is the Top to rule all Tops. What could this mean. You do not have...
After the 2 or 3 short day low volume move would think some backing up is in play. Top range boundary is 3000 add 4 for ES and over this area we should see a pretty fast move to 3031, and the area below to get past to see further down moves is a boundary layer of 2976 to 2980 and a solid move below this I could think to 2962-2966 for the day or maybe even into...
Over night showed very little direction and sets up the trade range of 2968 and 2956, (add 4 for ES #) above this will look back to prior highs and a bit more and below look for 2951, and if thing really get bearish then 2934 and 2926 but in a short week not likely. Best bet is let teh market open then trade long from range low and short from range high, and in...
Today we have had everything push to the long side so will be looking for either a big impulsive move up or a pull back before a further move up. There is a couple things to keep an eye on the RTY at 1609 and the DOW at 29966, these two areas could be a leading indicator as to what the SPX will do.
My strongest idea because of a holiday week is we range trade...
Today thinking we have a opening move down then a bounce back into the top of the overnight range and then remain choppy to a bit of low volume bullish. A major down break will be welcome for some higher energy shorts but very doubtful it happens.
Range of the consolidation trading will be 2938 and 2932 and even tighter range of 2939 and 2930 so will be trading...
Main Items we can see on the 4HS chart:
a)Using Elliott Wave Theory we can conclude that if we had ABC ( Bearish Movement) / ABC (Current Bullish Movement). Now we can expect a 12345 bearish movement following the idea of a Flat Correction
b)On every timeframe starting on the Weekly Chart we can see Divergences on MACD, (this kind of Signal is possibly showing...
Today is falling right into the consolidation zone and will need a break out to get a directional bias. The upper boundary is 2928 and the lower is 2916 +4 for ES trading. so will be range trading inside this range and direction trading out of this range. Will look for impulse moves out of range or range retest for direction trades
