This is the ES at the 4 hour view. Banks earnings were today - especially JP Morgan and Wells Fargo.
Why did the ES rally? FOMO bears.
Everyone was expecting bank earnings to be bad. So, if everyone is already bearish , they already have short positions in anticipation of bank earnings .
ES' projected supports were near the VPOC around 3115 or the flag support...
Quite the pump and dump today, I pointed out the open gap from last night and that RSI and MFI were overbought. Didn't trade today because I overslept and had some errands, but I don't think I would've predicted an afternoon tank like that anyways.
No clear directions for tonight, but I assume a bounce if this goes oversold. As I mentioned last week, I think...
SPY is retesting a key daily/4H structure.
the price has formed a double bottom formation on that on 1H.
I expect a bullish continuation.
target levels:
3190
3220
ES pulled back today. Why? RSI was overbought at the 4 hour view. Put/Call Ratio was at 0.67 before the pullback. Below 0.75 is considered overbought or a bit extreme.
You know what's the crazier part? TVIX was delisted on July 12th. I guess Credit Suisse knew...
ES is in a bear flag right now. ES and RTY's fate rests in the XLF and XTN/IYT. If financials and...
Jul 7
After we referred to ES1! purchase in the previous analysis . This is the best time to sell, given the low market in the next few minutes.
' Anyone who's interested in my analysis needs a consultant, I'm on duty.'
With my humble experience, it seems to me that ES1! will rise in the next few minutes.
Anyone who's interested in my analysis needs a consultant, I'm on duty.
Even though, market has rallied during overnight session, but trading within a range.
Test of ETH High should give direction for the day.
Level to watch 3194 --- 3196
ES gapped above the resistance from February and June which was at 3181 last Friday. After 3200, the next historical resistance is that second red line at about 3252 now.
That second red line stopped the ES back in June at 3225ish. It was support back in 2017. Let's see if it can stop it again.
Liquidity is increasing within the market's internals. So, bears...
There's no reason to do anything in my opinion with S&P 500 futures until either of these previous highs come into play. That's all that matters. And these are easy to break through, we are going to the moon. So I am just sitting and waiting until these levels are hit and then taken out or rejected.
As much as I think the market has gone too far too fast, I do...
Strange times we're living in. The more you understand, the less you forgive.
Lies, Damned Lies, and Earnings Estimates
I think we'll continue to rally for another week or two, but this is the last hoorah. A significant tone-change or event is nearby.
Sum of the evidence suggests late July-early August.
- Sentiment = FOMO...
