Trade Idea: Selling Dow at market Reasoning : Selling on rejection from supply zone (32200-32500) and a bearish head and shoulders on an intraday basis(although not validated yet) Entry:32048 TP: 31138 SL: 32416 RR: 2.47 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses ....
SPY formed 2 diamond patterns as seen in this hourly chart. It formed slight RSI positive divergence near the Oct low. However, this divergence may still get lower to reach 3500, an impt Fibonacci level, more so if the CPI report come out higher tomorrow. Weekly wma 200 still the line in the sand. The next major catalysts this week are Thursday”s CPI data & bank...
After successfully predicting the bounce following new lows and then warning about the subsequent drop, we are back to provide more thoughts on the market. In the big scheme of things, not much has changed. Merely the market confirmed our bearish bias, which we have continued to nourish throughout 2022. Despite many calling it the spreading of fear and...
$NQ - C'mon! One of my favourite indices, enjoy my outlook...! Key support...Hard or soft landing?! Best, TJ
S&P - Harsh landing!? As had FOMC, dot plots moving to further rate hikes till end of the year anticipated, dxy heads higher leading indices to land at an interesting area. I personally think it wont be soft as I have mentioned in my videos in...technically we are at very key support if this support does not hold further bearish momentum is set to continue....
Just for accountability purposes since I don't normally post Friday evening...I sold 3 AUG EOM 4400 Calls for $16.50 which = $2466 in Premium. I like selling near dated options on a Friday because of the premium deterioration over the weekend. I did this trade when the ES was at 4274. Best to all, Chris
As I have been warning many times since start of June, SPX again pulls another bulltrap. Many were expecting a bullflag to break above 4200 but what I actually see is a DIAMOND REVERSAL PATTERN which breaks below the psychological 4k support by gapping down to 3900. It stopped exactly at the base of the green Megaphone pattern of Sept 2021 to 4818 ATH. I think SPX...
As you can see its about two weeks which the price break the long term bearish channel and fixed itself above the last resistance.... Now we have to wait for breaking out of the triangle pattern. Entering above 33500 would be appropriate and the midterm tp would be 34100 as well as the long term tp 35300 (based on fib retracement of the last bullish price movement)
This morning I posted..." the current pattern looks locked and loaded for a big up day. I don't want to get ahead of myself but if we trade above 4,000 "impulsively" it starts to make a strong case for at least a local bottom." My target for SPX is at least 4200 for a minor wave 1. No reason to NOT stay long. Best to All, Chris
If we can build on yesterday's rally, the current pattern looks locked and loaded for a big up day. I don't want to get ahead of myself but if we trade above 4,000 "impulsively" it starts to make a strong case for at least a local bottom. Let's see how things shape up today. Best to All, Chris
Any one who follows EWP and trades will tell you NEVERTRADE A WAVE 4. Wave 4's typically can have the most complex of all EWP patterns. It's just not worth it. Today the SPX opened high and stayed high throughout the day. I do think this will take time but we should get retrace tomorrow in b of 4. They way I'm labeling this area is largely as a wave 4 flat. ...
All hope is lost. The Federal Reserve has lost control of inflation. Interest Rates are the highest in Decades. The Stock Market is un-investable. To me, these headlines are the sound of music. The stuff bottoms are made of. Let's take inflation and interest rates. The newer generations of stock market traders have never had to learn the lesson of " Mean...
Hey traders, in the coming week we are monitoring US30 for a selling opportunity around 34800 zone, once we will receive any bearish confirmation the trade will be executed. Trade safe, Joe.
We turn bearish on SPX as the FED meeting is less than a month away. We expect elevated volatility and weakness to continue ahead of the meeting. At the moment, we actually think it is very likely that weakness will remain persistent even after the FED meeting and interest rate hike. In our opinion, higher interest rates in the U.S. pose a substantial threat to...
Could we see a contrarian move back to the resistance zone ? I am slightly bullish and waiting for a retracement play.
Hey traders, in the coming week we are monitoring US500 for a buying opportunity around 4620 zone, once we will receive any bullish confirmation the trade will be executed. Trade safe, Joe.