If we go up from here a reclaim of the box would be likely. If the box is flipped look for 4.25k-4.30k target. If rejected we could go down and retest the blue line support. NFA
S&P500 Index is trading in a rising channel on a daily.
The price was approaching a solid resistance cluster on Thursday and Friday.
The market managed to break that and successfully closed above.
I believe that the Index may go higher this week.
Next goal for buyers will be 4155
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Crazy move on Friday 3/31! Looking to see if we continue our momentum to the upside, or is ES going to relax and hit our demand zones?
At the time of posting, we were in a large supply zone. We are currently right outside of it, but come market open, looking to see where the market wants to move!
MTF Long leading into a long term short position
extreme link to BTC can see something almost exact to match
Has scope to be various ew counts and the main 2 both have scope to hit the desired zone with multiple confluence's
Would make sense in terms of seasonal pivot timing and line up nicely on multiple fib time pulls.
also i can the inverse movements...
🖼 Daily Technical Picture 📈
➤ The mid-March march in equities has neutralised the short-term down-trend. A higher high as been set. To move from neutral to an uptrend we need to see a subsequent higher low. That potential higher low could come swiftly.
➤ S&P500 is at key levels with 410 and 417 acting as resistance on the SPY. A correction in the price should...
ES1! SPX500USD 2023 APR 04 WEEK
Market may be continued to be marked up. However, exercise
caution as weekly bar may be showing a bull trap.
Scenario Planning:
1) Possible short if 4175 is rejected
2) Continuation Long if 4082 // 4175 are supported
Volume Analysis:
Weekly: Low vol up bar close toward high
= no commitment to higher prices, possible...
As always, when the market pumps the stock market, they also pump commodities.
The commodity pump won't show up in PCE or CPI numbers until at least a month from now, so don't get too bearish too soon. We'll get the ES1! and NQ1! gap fill first.
I see no rate hike in May then we get rebound inflation because of the market pump so another hike in July. That's...
RSI way overbought on the EOD pump. Probably some weakness Mon/Tue, but not gonna short anything until teh gap above fills and the daily goes overbought. Until then it's BTFD.
ES is headed for a gap fill, and RSI is headed for overbought again on the daily. I don't recommend shorting anything until the daily gets overbought.
Remember, this is a pennant breakout, revised pennant target in green. I'm not quite that bullish though.
My 3hr indicators don't work well during a melt up, so basic strategy is to buy the dips until ES daily...
MFI heading down fast but RSI is still going up which indicates a melt up on good CPE numbers.
Even in a melt up, the time to buy is when MFI goes oversold. Probably happens Monday. At this point I might as well wait, lol. I should've been more bullish for CPE numbers but I expected a dip on German CPI and didn't get it. Oh well.
I don;t recommend shorting...
PCE, Window Dressing, and Witching
This morning's PCE data release was a yawn. While the window dressing is going to exert a push to the upside, the quarterly index options' positioning looks to be exerting a pull to the downside. Which side wins - especially in the last hour - could determine how we close today. After that, Monday will be a whole new...
So I am finally back into the S&P, and short at 4090. We got the 12hr uptrend I wanted, which was just barely a higher high and gives us room to head down and get a new lower low if the market wants to take a dive over the next few months.
Lots of commodity prices are rising, bond yields are going up, the value of the dollar is beginning to gain strength, volume...
The S&P500 has extended its rise since our buy call 11 days ago:
We are slightly modifying the technical parameters within this Channel Up that started back in November as the 1D RSI broke above its 3-week Resistance and on the previous bottom fractal of late December/ early January that translated into a price Resistance rejection and pull-back short-term to...
Hard to find any short term supply zones. When we look back in the charts, there was only the large zone created above as shown or the previous support/resistance white line. Let us see what tomorrow brings!
Dejavu of 2008 recession is looming here in the world stock markets.
This is not a joke.
Deutsch and Cahrles Schwab are having troulbes.
What if...more banks are revealing to fail.
Are they too big to fail?
MACD is getting bearish and all charts are indicating that parachutte mode is on.
Looks like we are on the edge of the mountain.
