If ES stays in the downward channel, it could actually tank again tomorrow. All other US indices look similar. HSI MFI is overbought on MFI though.
Basically if you carry any position overnight you're betting on if it breaks the channel or not. I have no idea which way it goes, lol.
Technical analysis and market breakdown.
Key demand zone spotted & explained.
Trading plan with entry/stop/targets given.
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I shared this post awhile back 👇
i talked in this post the possibility of a final expansion in our fifth, to take this market to the peak of this brittle mountain.
well, i'm going to go ahead and follow up with my post and say, i think it's going to happen.
i'm looking for the...
Since the market sold off a lot yesterday, it might be a good idea to check on Fibonacci levels.
Any test of ETH session High could provide direction for the day.
Level to watch 4515 --- 4513
Report to watch:
US:EIA Natural Gas Report
10:30 AM ET
Glad to be back and recording for YOU. SPY is still on shaky legs and the momentum to the downside is still strong. Here's what you should know before market open!
credit to @samitrading for inspiring this idea.
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you'd think they'd make this easier for retail,
but market maker has 1 job
🔻
to provide maximum financial loss for retail.
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when complex corrections like this take place, the majority of retail get slaughtered.
we call them call squeezes -> to squeeze longs out of the markets \ provide bearish...
ETH session has rallied probably to test yesterday's High.
Any test of ETH session High could provide direction for the day.
Level to watch 4626 --- 4624
Reports to watch:
US: PMI Manufacturing Final
9:45 AM ET
US:ISM Manufacturing Index
10:00 AM ET
US:Construction Spending
10:00 AM ET
US:Jerome Powell Speaks
10:00 AM ET
US: EIA Petroleum Status...
Consider this post somewhat of a cautionary tale, one for the archives which will be re-opened once upon a time by any of those who seek.
This is a twelve year tale about a market which some would call out of control. Though, it has been structurally in tact and very algorithmic beyond my current ability to put into words.
Every single piece of data which has...
TERMINAL 5 th wave ''Z'' under progress in S&P500 index.
only one day (11/1/21) left for bulls to make a new high or to surrender the BEARS
4678 OR 4736 is the magic number to reach, failing to catch these numbers BEARS will take incharge
good morning!
es looks like it's playing out as an expanded flat for this wave 4 of the final fifth wave into wave (1) of a higher degree.
came down quite impulsively, indicative of a sub-wave 3.
which means we have 1 more leg down to go.
accumulating longs in my green box will work, with a stop loss just beneath.
pretty wide range, but look for bullish...
i mentioned in my last post that we were going to see another leg down
i went cash today just in case it did play out
tomorrow is a day for opportunity :,).
love these deep dips, especially when the majority does not expect them 💸
one more raid, before an end of year rally to around 4800ish
Betting that this forming H&S pattern will complete and we could see a pullback to 4540 levels. Confluence with the .382 fib retracement as well. We'll see!! :D
VIX going to 16's next bearish wave starting.
The wave goes up and then back down, VIX reached a top for the up wave and starting to go back down. I expect all VIX related funds to go down next week and new ATH's for the market.
As always in the past VIX has been making new lows since covid started and I expect it to bottom low teens 10-13 which should paint an...
Well, I did say there was a gap from Sunday night.... and all futures gaps fill at least on ES.
Almost bought some calls on the headfake, glad I didn't. Wasn't expecting such a big drop today, thought that was coming tomorrow after ES MFI got overbought. Tough market to time, made a little money on a day trade but not nearly as much as I could have if I...
morning ~
es looks like it may have one more leg down to go to complete this sub-wave 4 correction of the final fifth.
this local impulse came down in 3 waves, and it's very possible that it's completed through a complex 4, but something tells me they're gonna raid the lows one last time to mess around with retail.
my raid target = $4545
The force is strong with the market adage that strength begets strength. But this week, it will likely be all about the NQ earnings to see if it can catch up to the all-time high prints from the ES (S&P) & YM (Dow Jones). We get 'em all this week - FB, MSFT, GOOG, AMD, AMZN, AAPL.
In other markets, can CL get to the top of our channel around $86? Will Gold...
ETH session market sold off aggressively perhaps to test last week's Low.
Any test of ETH session Low could provide direction for the day.
Level to watch 4611 --- 4609
Reports to watch:
US:Chicago PMI
9:45 AM ET
US:Consumer Confidence
10:00 AM ET
US:Jerome Powell Speaks
10:00 AM ET
