So far its a text book 1-2 setup to the downside. 2 targets are on the chart with the red arrows there pointing to each target I did few longs today and now positioning myself short Ideally the price sell into the close and we see lower next week for a 22-23rd low Have a great weekend and dont over trade during the Fri OPEX fckery
As we continue to monitor the broader index market we see many discrepancies between the S&P, Nasdaq, and Dow Jones. All 3 are not displaying the same level of strength, but what they do all have in common is signs of weakness with this last rally. Although I'm open to the idea that the markets have bottomed, I still think its more that we still have 1 more leg...
🔴 SPX500 TF: 4H Side: Short SL: $4009.75 TP 1: $3937.75 TP 2: $3893.00 TP 3: $3857.00 SPX500 will have a small correction here.
I wont be surprised to see 3900 test and then one more up from the bull flag. If 3900 holds we should see 4100+ move on the last leg up. The amount of puts is insane, unless I/we dont know something, its a retail/perma-bears trying to short every top and you know what happens to those puts when P/C ratio is so up. I also start to see some really out of the money...
I have marked resistance to take and support to break. Did a quick long from 3972.5 long and already out at 3983.50. I will jump on a wagon if it break either side, so far no mans land, need to see the real move here. My thinking is that we get a fakeout in am and sell off into 3900. But I will be looking at the resistance test (if it breaks) and will do a long...
SPX outside reversal, evening star on the daily The close is below highs from last few days, bearish close. Tomorrow is a panic cycle day on SPX and Dow has one on Thursday. If there is a strong sell tomorrow, it will last at least 2 days and wont be one day event. Remember this if will try to catch the knife, IF we get a good sell tomorrow Im short
My weekend update was banned as noted other place, Im re-posting now: I have cycles top on Tuesday and choppy period into 22nd low The way I see here is that the price is about to finish the wave 2 and 3rd wave will bring the price down into third week of Dec. Dont see and Santa Rally this year, it should be a Santa Crappy. Nov month should be lowest monthly...
SPXUSD daily guidance is neutral with a bullish bias. Recommended ratio: 60% SPX, 40% Cash. * October CPI rose 0.4%, the same increase as in September ; but what moved markets was that Core CPI rose 0.3% compared to 0.6% in September. Such an impulsive rally after one dovish CPI print is hardly sustainable in a bear market; however, if the UofM Sentiment...
Interesting how those Bollinger bands expanded and moved against each other. Last time I saw this, it didnt held up for long. I wont short this till tomorrow, I want VIX close below the lower Bollinger band and SPX above for a sell signal. Its over 3933SPX now, should push to 3959-60SPX and if taken, we will see 4010-20SPX I mentioned last night
Today the CPI numbers got released and turned out good! The DXY and Yields are falling of a cliff and the SPX is making a strong bounce. But is it enough? We need to see the downwards line to be broken and retested. If we break it and are able to stay above it we are really clear to see more upwards momentum. Short and simple but this is the play. Trade safe!
SPX must close above 3907 today to confirm the breakout! Bounced off resistance on this move, super extended and overbought now. Resistance is at 3933SPX, broken trend channel test from the bottom I have trimmed my longs (from yesterday's 3755-60ES entry) before the CPI, oh well, cant win them all. SPX is still in its opening channel Tomorrow is a directional...
Want to make a special disclaimer here: Do not bet your house on this if you're trading futures (ETF option market is closed) as I might be completely wrong! I want to present you a possibility of another mini crash tomorrow (Oct 13th like) maybe even limit down! If CPI comes hot tomorrow am that could produce another huge sell off like we saw on Oct 13th. CPI...
So far so good, want 3686-3700 tested, otherwise there is a lot of support at 3660-66SPX zone
Watching the next resistance to hold 50 or 61.8% retracement
He is a bit cleared out chart for my long term view on the SPX. I think (as was saying all year long), that we will revisit 2020 lows and ideally make a higher low at 2855SPX or if super weak low 2400 (less odds at this point) by Mar/Apr 2023. If there is a H&S playing out and we will know soon enough, then the price should get down to 3k zone My ideal target...
If this H&S plays out/triggers we will see the price in 3k zone For now there is a support box for the move lower. Expect unexpected, as the price was tested so many times on the downside, it can break next time it does test it. Also if this is a start of the wave 3 down, it will be fast and with min retracements, so be careful when trying catching the...
Im looking for an ABC move up tomorrow for a new high 3815-35SPX (if we wont take Fri lows) Ideally we bottom in ES deeper then the cash price and cash will get its 50% retracement hit in am tomorrow, then we go up to close the Sunday opening gap Then we should fall hard into 34 handle territory. My timing is a low in Nov for the year and Jan high, then Mar/Apr...
SPX broke the falling resistance and went up, but is now making A pullback to retest the broken resistance But the breakout is a breakout So I am still bullish Thus, after the retest the price 3663.15 Will probably go up