It was a crazy day, as always after FOMC. Im expecting this move down to reverse completely and more by Fri. - Main resistance is at 4012-15SPX on weekly closing - Daily resistance is at 3802-17, 3850-55, 3895 and 3935 Tomorrows support (if the AHs price wont be reversed by the open) levels: - 3752-50 - 3721 - 3680 I expect 3721SPX holding strong on closing...
This is what is holding me off from being aggressive or just being long into FOMC. Im hedged and waiting for the announcement
A slightly lower into my 3802-17 level will be a perfect hit of the lower trend channel. NQ already broke its on to the downside! Important to note A right shoulder fake rally will be perfect before it really drops into Oct/Nov lows Also dont be surprised if it breaks, then look for the retest of the broken trend channel from below P.S. Dont forget to like...
I have changed the color theme on my chart and removed everything I could to make it clear for those who are having troubles reading my charts. Look what I just saw! Let me introduce a possible pathway after tomorrows FOMC announcement. On June 15th we have spike up and had a big range day. Then next day the price gaped down and made new lows. I see kinda...
There is plenty of room for MACD to go lower and still stay in the channel. current MACD is showing a hidden positive divergence, but again, the price can make new lows while MACD a higher low.
I missed am short, now waiting for 3802-17 to go long. Wont rule out a move down to 3750 tomorrow before FOMC The way I see it is that we will bottom today tomorrow and rally back to 3880+ after the FOMC decision, then completely erase the move by Fri. Should bottom on the 17th and rally up into EOM early Oct, then continue lower Dont try to trade this, very...
Main resistance for the SPX is: - 3942 - 3952-60 Support cluster is still the same: - 3802-3817 - 3750-55 and much lower (check my last SPX update) Im currently long ES and some SPY calls and will be adding to my swing short NQ position tomorrow and ideally on Wednesday. - 3955 and 3975 are the 2 numbers where I will be adding to my short position. In case of...
Didnt do much except covered ES short from last night entry. 3886 is a very important resistance level. Looking at ES small timeframe chart, there is a possible IHS is developing, but so muted, it can fail, but I will go long at 73ES and 68ES (might extend to 58ES) with a stop for tomorrow's exit. Still want some squeeze into tomorrow and fail there
I was busy all weekend, this update will be quick. Still seeing this as a bear market, well it is for the past 9 months wasnt it. The main trend is still down! Please note those purple lines are the unfilled gaps, will be gone each time the price will fill those, otherwise act as magnet to fill, depends on the trend Looking at the price action, I can see 1-2,...
SPX is at the end of a cycle and assuming that the crisis will continue, it is in a C wave in my opinion. My estimated target price for wave C is as I have shown.
I did post this warning on Sep 12th as well as emailed to those who are on my email list. Check the MACD on that day and now! It created a hook and continued lower, bearish! Some people noted and didnt get trapped on that day, it was daily high close DO NOT GET TRAPPED Today!!! Dont short this red whole! Have to leave, will be back in few hours, again dont...
I was sleeping in today, no point to trade this market but hold swing short position. Mid Bollinger or 20MA crossed 110MA on daily, not a good sign for the bulls. MACD is still making new lows. This seems to get to 3680SPX by the FOMC decision or right after. Main resistance now is at 4030-45SPX Mid resistance is at 3970-85SPX and I think we wont get above on...
I want quickly update the SPX chart. 2 scenarios: 1 - we gap down tomorrow 2 - we hold the lows and go up in am First scenario: Support is at 3885-86SPX And nothing till 3800-20 I would be looking for 3775 and ideally 3680 as the main targets before or buy 20-21st. Second scenario is we see 3970-85SPX tomorrow and sell off into above outlined numbers by...
I did warn about this possible outcome early Monday am All we need is to gap down tomorrow (which has a high probability now as we closed below 3955 and especially 3935) Then the downside targets will be 3775 and even 3680. It can even stretch to 3450 if Jun lows are broken. Only a gap up tomorrow can save from this pathway for now. Dont pay attention to the...
The rising trendline from June's lows is the likely target for this decline. No idea what happens there, and I won't be buying it on the first touch. Knives should be picked up off the floor, not caught! If this is helpful to you, let me know in the comments and follow to get charts immediately.
Its all about 4125-35, 4150-60 and 4202SPX now. All 3 are resistance levels! Support is at 4085-90 and 4025, below it we should see 3955SPX Im not sure about the exact pathway, so my game plan is to short 4145-60 and 4202 zone. If we breakout I will flip for a trip back to 4285-92 and even over 4300SPX Please note, that this can even extend to 4425 just to screw...
I want to present a very possible pathway in case MACD will make a hook like turn, which is very bearish! I saw this many times, when everyone is cheering bullish and looking for that golden cross and all they get is a the hook formation (zoomed in and outlined at the bottom of the chart) So far MACD is still way below 0, RSI is at 50 level and could make a lower...
We didnt get a move down off am highs as I was hoping for, gap up above 4020-35 happen, so the move lower is off the table. Now 4025 and 4015 are 2 main supports to hold for next week to continue advance. 4085 is next target. This still can be a fakeout and if we close below am open, and especially below 4015SPX it will be bearish and I will be looking for 3925...