🖼 Daily Technical Picture 📈 ➤ Equities is proof that the world is flat. Flat and dull. I'm kidding, that's just Singapore. Although just after US market close I felt a light shake of the building evidenced by the swaying window blinds. I believe that was the tremor caused by a large earthquake off Indonesia. That was pretty much all the "excitement" for the...
this is apr 24, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend
Major earnings are coming in this week, although not today. Coca Cola was the only major company to report today, and they beat earnings expectations by basically acknowledging they just passed price hikes in production to the consumer. With the bigger Earnings of Google and Microsoft tomorrow, then Amazon and Meta later in the week, I expect tomorrow to begin...
In this update we review the recent price action in the emini #SP500 futures contract and identify the next high probability trading opportunities and price objectives to target
🖼 Daily Technical Picture 📈 ➤ Equities finished flat to down once more. Recent movement has been very low volatility as reflected by the VIX. I still favour further upside as price is well supported at these levels. ➤ That being said, my primary trading strategy did signal an exit and that was executed at end of Friday trade. An exit doesn't mean I am expecting...
The chart above shows the CBOE Equity Put Call Ratio (CPCS) . Last week the put-call ratio broke its all-time record high, surpassing the levels seen during the Global Financial Crisis and the March 2020 market crash by almost twice as much. In this post, I will explain my thoughts about what's going on. I welcome others to also give their thoughts in the...
We can try to predict when the Federal Reserve may pivot to a less hawkish stance by using charts. Below are some helpful charts. 1. Money Supply The chart shown above is a monthly chart of the U.S. money supply (M2SL). The white line shows the money supply over time. Below the white line is a stepped moving average (9 period), which I consider the 'steps...
MFI dropping but too many dip buyers. Just more whipsaw. Garbage stocks all got a bounce from yesterday's drop, Europe is right back to pumping the market. More than ;likely taking a break next week, so staying cash.
Markets Struggling to Gain Some Traction - Day 2 Despite the initial downward momentum post-PMI release this morning, markets still seem stuck in the tug-of-war between the "Inflation peaked" optimism and the "recession onset" concerns, and the earnings season so far has failed to give either the bulls or the bears any real traction. Whether the earnings next...
this is apr 21, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend
This analysis is basically an extension of the study we published last week, explaining how the index is starting an aggressive expansion: Based purely on the 3W time-frame, now we have incorporated the Sine Waves to clearly display the cyclical buy/ sell pattern inside the long-term Channel Up that started at the bottom of the Housing Crisis (March...
So I did dip out yesterday where I said I would, did not get back into the second wave down, and ended with making my weekly goal of $2500. Looking at today, I feel the market is giving off a lot of indecision, and so I've decided to continue with my sentiment, and will likely just sit out today altogether. The trends into today; Last Macro Trend Signal...
Just wanted to point out that all of my daily indicators rolled over and looks bearish. At the same time, none of them went overbought. I posted this morning that I canceled my "BTFD" call for today based on short term indicators going overbought on RTY, and ES/NQ MFI should go overbought on my 3 hr chart tomorrow before open. I'm not feeling all that bullish...
🖼 Daily Technical Picture 📈 ➤ Equities lost ground after a weak open followed by an attempt to make up ground only to lose it all and more prior to a small bounce off the low at close. Overall, it was just another meaningless day. ➤ Meaningless in the context that the price action has not broken any structures that warrants attention e.g a breakout out of a...
The market isn't tanking because ES and NQ haven't gone overbought yet. Does not appear that the algos are gonna hit the sell button until it does. The market is down because TSLA is down 9.5%. ES/NQ left a small open gap yesterday after the break, so I guess the algos are going for it right now. Crazy whipsaw market the last couple of weeks, tough to make...
Indicators show no direction, no direction for tomorrow's gap either. I'm hoping TSLA misses and MFI goes oversold tomorrow. Note that I said hoping, much like NFLX, I don't think it moves enough to cover options premium. Market does appears to be melting up though. I'm just not very bullish on TSLA earnings. Just pretty much repeating what I said about NFLX...
Markets Struggling to Gain Some Traction Markets seem stuck in the tug-of-war between the "Inflation peaked" optimism and the "recession onset" concerns, and the earnings season so far has failed to give either the bulls or the bears any real traction. Whether the earnings ahead will help the markets gain momentum in either direction remains to be seen. Our...
So I am yet again short at 4180. I've made my weekly goal at this point, and if things rally again back up to 4160 I'll likely just cash out, take my weekly HKEX:2500 quota, and sit out this week. However, trends are beginning to show that dip backwards, even if currently it is only the lower timeframes of the 30m and 1hr. We got lower highs and lower lows off...