Set a secondary neckline with a rejection of the Red Channel .35. Fast market. Pops being faded and fades being bought. The primary neckline is my top watch as the 10 year challenges 1.6 (1.599)
watching this potential iH&S pattern
Hi Guys. Hope you all been well. I had a week off screen hence there has been no analysis. We will start with the weekly and daily analysis as its very important to know what is happening in the higher timeframes. Currently lower t/f is very bearish however the higher timeframes are bullish. Lets start with the weekly first. On the weekly T/F we can see...
at a crossroads - The open tomorrow will be telling - 10 year bond on watch - setting a new high at this hour (1.589%)
The NAS saw it's strong bounce on Friday at a level that coincides with the halfway point of last year's bear market drop. Taking half as many trading days as the fear based sell-off in 2020; this years rotation driven (and now rate increase driven) correction took twice as many days. With the stimulus package passing all eyes turn to the 10 year note. A sharp...
This may take a few days to resolve, the high multiple growth names have been reduced significantly. 10 year at 1.563%. NAS correction at 12%, a bit over halfway to a bear market. The bounces have been weak so far (not that it can't change on a dime) ..time for an early weekend.
Friday - statistically my worst trading day due to the options and Opex expirations. The allure of the big win can go bad so quickly - basically you must be correct to play this high risk way. The solution - play next weeks expiry or size lotto. Today NAS has Purple Channel support at the .764. The 10 year set a new high and while the non-farm payroll beat big....
This 30 minute Diamond made for a tough play today. Diamond can be continuation or reversal patterns, so price action will need to guide. 10 year Treasury currently at 1.573. The NAS leads the way with room to downside targets on the larger H&S . Short Term plays on big bounces. Would you cover your short profits or swing them over the weekend?
found overnight support off the active channel .764. Key day!!
Linear .236 Resistance from the recent move down. Found Blue Channel .236/.214 Support. Will the market sit on it's hands until Mr. Powell at noon?
Rotation continues, losing these supports suggests much further room to the downside. Bulls want to defend right here. Stimulus package time.
Are the days of buying poor job numbers in the past? NAS is in a 5 min Bear Flag: rejecting the 8 EMA. The larger iH&S pattern on the 2 hour frame would be negated with a loss of 12667. Watching for a reaction at the .5 (black dashes) if we consolidate further on the news.
looking forward to seeing if this one plays out! The neckline reaction will be on top watch.
The key area for the overnight session is the .618 of the Blue Channel. This area along with the .5 offer supports to set-up a higher low. The linear .382 will be an area of interest. The sharp reversal in Zoom as well as the breakout in RKT demonstrate a stock-pickers market. For each and every chart there is a bull case and a bear case, two sides, one...
13080 has been POC and support zone building for bulls toward the end of last week; and now again early this AM. The cup formation broke high and has stayed very even. 12950 is another local POC that I expect to be the bottom for a handle formation to remain intact this AM. I'm feeling hopeful for rocket at open to around 13350-13450 and support will start be...
.786 RES trying to become support. Looking to set the hourly higher low.