According to John Murph's book this is as good as it gets text book
up ward channel. You nee to through in there resistances, supports
and some fibs. Happy hunting if you are bullish.
Globex has front-run 4500 by 2.5 Handles @ 4497.50 as of 632 AM EST.
It will continue to 4500, the reaction there will provide further indications
as to whether the ES pulls back or continues in Extensions Higher.
Breadth in the SPY is waning, it remains a poorly structured retracement
on declining volumes.
Building Permits and Housing Starts will be on the...
... for a 2.40 debit.
Comments: In for 4.80 (See Post Below); out for 2.40 here at the open (50% max). This is the last of my SPX spreads I put on in debt ceiling discussion volatility. I'll re-up on weakness plus implied volatility >20%; it's around 16.1% here.
Every thing as we have been saying all along is bullish all indicators + Tech analysis is pointing to a trough is
already in place as of October 4th. Only fundamentals such as Tapering + Inflation + seasonality
(which is behind us as of last Friday) and this last probable flat for X of WXY. Even some Elliott wave
counts are suggesting a bullish move. Therefore...
Breaking our last low is just a game changer for a while we will see a new ATH if we do that
we stand at it to the point therefore this move of VIX is just another validation for this Bullish
move and more to come if VIX stays here below 50d MA .
ETH session market has continued its momentum to Fibonacci extension 1.618 Level.
Any test of ETH session High could provide direction for the day.
Level to watch 4495 --- 4497
Today we will take a look at ATVI:
a) Since February 2021, the price has been on a correction or a bearish trend (depending on how you want to see it), dropping 30%.
b) The price has bounced on a support level, where we can be open to the idea of a new short-term bullish movement. IF the following items happen as expected (70.00 / 72.00)
c) Another...
The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the performance of 500 large companies listed on stock exchanges in the United States.
Summary: Weak GDP data from China wasn't enough to break optimism for investors after last week's surprise Retail Sales data. Indexes started lower but recovered with steady gains throughout the day.
Notes
Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog.
-=x=-=x=-=x=-=x=-=x=-=x=-=x=-...
... for a 2.20 debit.
Comments: In for 4.40 (See Post Below), out for 2.20 via good until cancelled order to take profit at 50% max; 2.20 ($220) profit.
* -- Short put vertical.
Hello traders and investors! Let’s see how the SPX is doing today!
It did exactly as we already expected in our previous study (link below this analysis, as usual), and now it seems it officially reversed the bearish sentiment for good.
The trend is bullish, as we have higher highs/lows, and pullbacks would be opportunities to buy. The 4,446 is an important...
I posted a graph on a higher timeframe before we had a decent drop in all markets:
And I still stand by that, but on the lower timeframe, I see a falling wedge forming. The price action indicates to me that we are going to break up sooner rather than later, so this yellow arrow I have on my chart is somewhat what I expect :)
Pegged at 100 all day, lol. I assume this is the beginning of a melt up.
We'll see what happens next week, but I may have to take a week or two off, I hate melt ups.
The ES range is now, what else...
4441 - 4490
VIX support remains @ 17.25, this is the level to watch for
an important reaction as we enter Settlement for M1 / M2.
The Fill @ Opening GAPS should be complete, we are not trading the
ES Gap Fill but the NQ's from where else... the Pivot @ 074 x 6.
For the S&P Futures, the 64.50 remains the important Level...
