Stocks have steadily drifted down from highs at 4327. Retail sales data on Wednesday confirmed the impact that high inflation is having on the economy, and investors are fearing another 75bps rate hike in September. We are seeing a lot of resistance at current levels confirmed by red triangles on the KRI. However, we are also seeing support at 4245, at least...
Stocks have pushed higher, spiking up to our level at 4327. However, we have retraced back to the high 4200 handle. The rally appears to be growing weaker. We have some risk off news including Tencent, the Chinese tech firm reporting negative revenue for the first time in history. We also have retail sales at 8:30AM EST, which another data point the Fed will...
Stocks keep edging higher, breaking new relative highs albeit gradually. We broked from 4272 to 4293. The difference between daily highs is decreasing, suggesting a retracmenet could be near. If so, 4214, or 4188 are good candidates for support. If we are able to rally again today, then 4306 is the next target. This would also be the first technical level in...
Stocks opened near highs as investors digest last week's data. We have retail sales and housing data this week, which may contribute to a clearer picture of the Fed's plan for their September meeting. Currently, the estimate seems to be a 50bps rate hike, followed by a potential softening in policy stance. The S&P 500 hit our target of 4272, and seems to be...
Stocks have rallied, breaking through to higher levels. The markets seem to interpret recent economic data in a manner that suggests that the Fed is going to cool down their hawkish stance. Right now, a 50bps rate hike is expected for September (potentially the last one), whereas 75bps was not off the table before Wednesday's CPI. This was further supported by...
Stocks got a pump from CPI data yesterday. The figure came in at 8.5%, one of the highest in history, however the estimate was 8.7%, so it technically fell short of expectations, even though this figure is still well higher than normal. After this reading, the implied probability of a Fed hike of 75bps fell 30%, which gave the markets a green light to rally. ...
Stocks got a nice lift yesterday, but faced resistance exactly where we anticipated, at 4188. We faced strong resistance there confirmed by multiple red triangles on the KRI. These levels also coincide with highs from earlier in June, so it will take formidable momentum to break through. We are seeing strong support from 4144, and will have further support from...
Rest In Piece Apple Holders Your time has come. And this is my official Warning Beware. Evidence: 1) $1.3 B in Dark Pool Prints 2) Millions of premium in puts 3) Millions of premium in spy puts 4) The great TA seen above
Stocks are tending toward the upper bound of the value area, forming what appears to be a bull wedge. We have been flirting with higher levels in the 4000's established from a value area formed back in June. We seem to have a hard upper bound at 4178, but the Kovach OBV is still strong, suggesting that we have a bull divergence. If we break out, then 4188 will...
The S&P 500 has broken higher, barely edging past 4144, our previous high. We are curently just below the next level at 4178. We are starting to run into resistance here from previous highs in mid June, confirmed by red triangles on the KRI. If we can break out further, we must get past 4188 before we can consider the next level at 4214. The breakout looks...
Daily Candle Prediction I think you saw the high for a minute on UBER. I think it is going to come down amd fill the gap before it catches itself on the next meaningful uptrend. I think the next uptrend is going to have some momentum going forward. I would look at $26 / buy in for a good support level This is not financial advice, I have never been trained...
Cult Dao just finsh last corrective C wave , nice entry here for a move up.
The S&P 500 has retraced slightly from highs at 4144, testing support at 4068, as we anticipated yesterday. We are seeing good support from 4068. We appear to be forming a sideways corrective pattern, a technical corrective phase after a rally from the 3K's brought us back to highs not seen since June. It is likely we will hold this range until stocks can...
Stocks have hit our target of 4144, but ran into resistance here. The price action swiftly rounded off, forming a top at this level. We have since retraced back into the vacuum zone between 4122 and 4168. We should have further support at 4068, but if we retrace further then there is a vacuum zone below to 4009. The Kovach OBV has ticked downward with the...
Stocks have broken out and hit our next level of 4122. We are meeting steep resistance here confirmed by red triangles on the KRI. The Kovach OBV has lifted, and its clear that momentum has returned at least for now. It is likely that the markets think that the Fed may adopt an easier policy now that we are formally in a recession. If momentum continues, 4144...
The S&P 500 has broken out to the upper bound of the range, at 4009. After the uncertainty from the Fed was lifted, and we received our 75bps rate hike, stocks were clear to rally. However, as we anticipated, there was little action yesterday, and they are still respecting the range we identified. We made a brief attempt to rally into the vacuum zone above, but...
Stocks have retraced from relative highs at 4009. We have several red triangles on the KRI indicating some stiff resistance at 4009 and 3978. Volatility has consolidated quite a bit, which is understandable before the FOMC, today. Note that some sources are predicting a 100bps hike, but it should come in at least 75bps. This is largely priced in, but we should...
The S&P 500 broke out, testing and rejecting 4000 as we anticipated Friday. We identified 4009 as a likely target, and the S&P 500 hit this perfectly, before retracing a bit. We are seeing the price action round off and potentially a small head and shoulders pattern forming, so watch for a retracement, which could present a buying opportunity. We should have...