I guess this morning was just yet another headfake, lol. Looks like they shut the small cap algos off, things look bearish but hard to tell where this whipsaw market is going. Staying cash until MFI goes oversold. tried to go long this morning but everything hit my trailing stop when Euro markets closed. Made a little beer money, lol.
The S&P500 (SPX) hit today the 4H MA50 (blue trend-line) again and the Higher Lows since the March 13 bottom. That was a bottom on the 5-month Channel Up and the best buy opportunity on a 1 month time-frame. With the 4H RSI sequence similar to the Higher Lows of the previous bullish leg in late December/ early January, we see SPX attempting to price the new Low....
Hello traders! In previous posts we explained how we believed the last leg up from October's low in the SP to be a primary corrective wave (B) to the upside on overconfidence about the soft landing narrative and FED policies. You can see from this daily chart how low were volumes during this last period. We were expecting the target of this upside movement to be...
Collateral Damage or Covert Help? (after being stuck in an indeterminate state, our models are out today with their trading plans for the day) The banking meltdown seems to be the collateral damage from the Fed's battle with inflation. Chair Powell tried his best to be balanced in his press conference post-FOMC yesterday, trying to indicate his preparedness to...
this is mar 23, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend
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
Day 7 of posting my charts on Trading View's free plan. I want the multiple layout option but I don't want to pay lol. Gotta save every dollar for now, but when I can afford another lifetime subscription I just may do it. FOMC was crazy, but we have updated all the zones. Demand zones below are for emergencies if we ever reach them. I grabbed them from previous...
For Thursday, 3956.00 can contain selling through the balance of the week, above which 4125.75 longer-term resistance remains a 3 - 5 day target. Upside today, 4089.25 can contain session strength, while closing above 4089.25 signals 4125.75 tomorrow, able to contain buying through April and a meaningful upside continuation point over the same time horizon....
Well, Powell finally started talking straight. No "disinflation" BS. I guess he's getting tired of being the Village Idiot, and just maybe he finally realized that commodity prices and the market move in the same direction. "Rate cuts this year are not our baseline expectation." "Policy has to be tight enough to bring down inflation, some of that tightness can...
🖼 Daily Technical Picture 📈 ➤ The Market is indeed the BEST Dentist. Rarely does it allow a gap to remain. The price gap in the SPY from Tuesday trade was immediately filled. Yesterday, I contemplated about the manner in that it was to be filled. The Market decided on the second option - a spike higher before moving lower. ➤ Equity markets sold-off aggressively...
The S&P500 failed to close over the 4hour MA200 and is pulling back to the 4hour MA50. Buy this pull back as it is not only near the 0.5 Fibonacci level but also the Cup pattern's Support. Target Resistance A at 4080. Previous chart: Follow us, like the idea and leave a comment below!!
RSI didn't hit overbought as I expected and MFI is way overbought Anything can happen on Fed day, but feeling bearish. No long positions, bought a few PTON puts again this morning, lol. Kicks and giggles bet.
this is mar 22, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend FOMC, have a great trading day
I've said it a dozen times... remember that nothing annihilates a technical analysis like key Economic Data. So with that, at 2pm EST, it is the interest rate decision, though really I think it'll be the forward guidance that drives the market up or down. The last time we heard Jerome Powell talk (during his Congressional Hearing) he was rather Hawkish and...
ETH session market has been trading sideways, given today is Federal Reserve's decision day for rate change or not. Any surprise will shake traders confidence. Any test of Yesterday's High could provide direction for the day. Level to watch 4038 --- 4036 Report to watch: US:EIA Petroleum Status Report 10:30 AM ET US:FOMC Announcement 2:00 PM ET ...
Day 6 of posting my charts with Trading View free plan! White zones indicate invaluable zones but just a reference zone off the 1MIN for quick moves. These can fill easily but I want to still mark it as an area of bigger orders off the 1MIN. FOMC today... be careful! Thinking of shorts, but waiting for FOMC to be released to see.
🖼 Daily Technical Picture 📈 ➤ Another positive day in equity markets and I'm sensing some kind of pattern. Small cap caught up a bit with the main indices. ➤ Today (Wednesday) is the main event. It's the US Fed interest rate decision day. There's no doubt everyone has an eye or ear on the announcement. ➤ Before you ask, I have no clue on the outcome per se and...
- NASDAQ QQQ and SPY closed near resistance QQQ im looking at $311 daily time frame triple top. - FOMC 25BPS tomorrow 80% chance, need to see in Powell's speech if this is our last hike or we get a pause, also information on the banking situation too. - XLF is going to be key factor tomorrow for SPY's direction, went completely sideways today will break...