The market is continuing her move to the downside. This is why we "WILL NOT ESTABLISH A POSITION ON FRIDAY". We will be watching the Emini and other Indexes for a reversal from the support area on Monday. We WILL NOT enter a trade without a trigger. Knife catching will kill your account. It is not recommended. Be patient!!!
This week the SPY broke out of the symmetrical triangle then filled the gap we called out at 201.62 and retraced 100% of the previous swing. The intermediate bias is now to the downside and there are numerous downside targets - Gap fill @ 196.16 Fib target @ 192.02 Gap fill @ 190.30 Gap fill @ 186.27 Fib target @ 178.53 Gap fill @ 177.48 Gap fill @ 173.22
Landed at the L-MLH, the frequency shift show us, that a further slip is absolutely possible. (...just to wash out the early longs?) Me <== restrained bullsh ;-) P!
My view on what i will try to find on weekly, while manoeuvring through this blow off phase. 1. Denial: "We're still in a bull market!" 2. Bull trap: "BTD!" 3. Fear: "Hmm macro a lot worse, also Trump for president..., should i... what if... uhhh... uhhh... aaaaaah...!!!" 4. Capitulation: "NOOO! Bear market, time to sell. Or do i just hold and sit this out?" 5....
I tought it was a gift, but it looks like it was poison... But that's why confirmation is a good filter. Do we miss trades, waiting for confirmation? Sure - but often we save amo... P!
In this post I would like to put together some previous stock market calls (still valid), as well as add two more promising shorts. It's been a rough week for US stocks culminating in a clear break of the Head&Shoulders' neckline at 2045. This kind of pattern is usually referred to as "Complex H&S top" , because there are multiple peaks and its "head" is a H&S...
The market is technically broken. Today's sell off on volume did some much needed damage. It was good to see this. The market needs a pullback. We don't think we are done to the downside. However we are expecting a bounce at these levels. We will watch it closely Friday. WE WILL NOT establish any positions on Friday on the Indexes. We will wait for Monday....
With the SPY in a symmetrical triangle I outlined 2 possible scenarios. SPY is now breaking to the downside and with 201.92 being the first downside target.
Break july lows would think 2000 could see a bounce to long. Hold Julys lows would look to long too. This would be the larger range for 2015
Spy became overbought, and the VIX index reverse in intraday. We now identify a change in market sentient. at midnight i start my Short position on E-mini SP500.
Intermediate down trend holding solid as we open up the new trading week. Our major inflection points come into play this week so be careful out there. Below is the recap to the MSP's (market structure projections) and key timing pivots for this evening and tomorrow's ES trading session. mcm-ct.com This link is for the longer term trend outlook posted Friday...
To be very clear. This is not a top or crash call at all. Just observing previous market history compared to today. Observing the previous multi-year consolidation from 1968 highs to the1980 breakout. Price found resistance @ the -0.618 and entered a correction that backtested the previous multi-year consolidation. Currently observing price is struggling to...
S&P is in an intermediate downward channel, June 18th was an outlier;unexpected rally, but I feel S&P will adjust and confine tself to the channel that is kind of established for so many sessions. Due to Greek uncertainty, I feel this will continue into next week making people take profits and stay on the sidelines until a resolution is reached by June 30 ( if...
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The ultimate oscilator has made a notable divergence and looks to be breaking to the downside of the triangle it has formed. Slow stochastics has a downside bias look to it imo. I am not planning to sell at friday's lows, although would look for observed resistance on rallies to sell the es. I believe the es & spx are in a sell the rallies mode at the moment....
Price seems to making a very rare pattern on the ES Mini, where price action takes the shape of a shoe that is trying to kick prices higher. Similar to kicking the can down the road. Upside targets are T1 2152.25 and T2 2181.50 When this rare pattern forms, price usually is super choppy with no support or resistance holding from the top of the shoe to the bottom...