Wire to Wire Melt-ups is the very definition of an Aggressive Extension.
The price moved accordingly within NQ Extension to perfectly hit its first area
of Resistance the Heavy Depth of Market Distribution for the next Wave down
within the downturn off the High @ 15,708.50.
We are now roughly 650 Ticks from the September Highs. or conversely as
Short-term Elliott wave view in Dow Futures ( YM) suggests that the decline from the August 16 high is unfolding as Elliott wave double three structure in a bigger wave ((4)) pullback. Down from there, the decline to $33628 low ended wave (W) in a lesser degree double three structure. Up from there, the wave (X) bounce unfolded as a zigzag structure where wave A...
The Dow Futures have been an easy SELL at the top of the Range.
BUY Side anticipates another BUY at the bottom of the Range.
The YM Closed September @ 14,682 and with the High for October
at the level of 15001.25 it is well off the prior Months Close, as
well, and more importantly - well off the October Highs.
The Intra-Day Price swings have been Volatile, with...
The larger issue will be whether or Not they trap SELLERs looking for the
Monthly Gap Fill @ 28.2K.
The DOW has been weak on a realtive Basis given the 34053 has Broken, this
was important Support @ Monthly.
Support lies at the 34139 level on the Weekly closing basis.
This will imbue SELLERs as technical support is @ 33120 followed by 31848.
Price provided further Information the last few days.
We have been patiently waiting for developments in the
Market Structures to unfold .
We anticipated a Countrend after hitting the WEEKLY LTL
@ 14367 illustrated in a prior Chart Observation.
Everything has traded out as we anticipated and indicated.
SO far, SO good - this is always subject to change. We...
We see how important the Ledge remains.
We traded Support first thing this morning, this
is where and when we Closed our NQ SELLs.
The balance of the Day was SOH.
The intent is clear, the Hourly was over-sold, the Weekly
These are enormous ranges and again, IF there is not a
high probability setup with a clearly defined trade plan.
9/10 its a...
It looks like SP500 dropped all the way into the Support Zone. We should get a move back up from here. Once again, as long as we stay in this Sideways Market condition, we don't have any real strength or momentum. We may stay inside here over the next week or so. We will likely move UP from here but I can't say for sure we will create an ATH on this move up. It...
Until we break out of this range, we may not get many nice move days. This could last all week and possibly go into next week. However, once we broke out above or below this range... we should get some really nice big moves. Until then, I'm just going to tread lightly and practice more patience. Always know what market conditions are ideal for your trading...
As the Global Economy continues to weaken, DEBT is beginning to weigh heavily on the same.
Inflations have many Vectors - Monetary, Fiscal, and Confidence.
Throughout the history of the United States, the "Debt Ceiling" has always been a Glass Roof.
At present, decades of abuse since the 1980s have come home to roost.
The result of...
Evergrande's exposure is $300Billion, US Institutions admit to $20Billion in Direct exposure.
Total exposure is being hidden in Passive Funds.
Does not matter, there are far larger issues.
China will bail out Domestics... Sovereigns... not so much.
Distractions are always the Hero's...
The VIX broke its .500 by 2 Ticks to pull back towards its 22.25 Support Level.
VXN, no different, the pullback towards its Support from the Measure move of
the GAP to the Highs.
The indices will complete their retracement measured moves ahead of the
FOMC tomorrow, entirely normal after yesterday's extremely large Volume Sells.
We anticipated a Retracement...
The ES MONTHLY Range is enormous, we see 1/5 ending @ 3588, 2/5 Ranged for less than 2 months
prior to lifting off unimpeded for 7 Months.
Month 8 did make a new high, although the 26 year probability of it holding and closing over is a low
probability event as we indicated in early August.
Many trading Paradigms have been tested and rejected within the Shorter...
Where to begin as there are far too many Data Points within the Macros.
Consumer Senitment dropped sharply last month. This is always
a precedent to Downturns, it closed @ 71 for the Month of August.
86/100 years Price has tested the 200SMA
8 Monthly Bull Bars, very low proabability.
9 Monthly Bull Bars, extremely low probability as this has not occured in 60...
Consecutive Weekly Bars were 4 Ticks apart, the 2nd being the lower of the two
for September... a Higher High for the ES, by a 7.5 handles.
Tomorrow is "triple witching" and we should anticipate volatility resulting from the
expiration dates of the three financing instruments - stock options, stock index futures
and stock index options all expire...
Frankly this is all we need to watch, the VIX
has consistently been Bid into Settlement only
to fall back to LT Support.
Will we retest the Highs or come up short and continue
the Institutional SELLs.
ES - 4451.50 is the Support Level for ES / 3493 - 3498 - 3509 - 3512 - 3521
YM - 34527 Pivot / 34994 Objective
NQ - 15388 Pivot for higher and Micro Support
Today will determine as to whether this SELL takes a breather and provides
a large retracement for the ES YM RTY and NQ
Buyers are on Strike, Sellers need to be the new Buyers.
VIX Settlement is today - Price has a Gap to Fill Below.
We will be waiting for the Range within the Micros and larger Daily
Timeframes to resolve prior to...
Intra-Day setups remain our only trades as the VIX completes Settlement Tomorrow.
Puts are again becoming attractive as this weeks Gamma Squeeze is beginning to
AAPL -150 CALLS * Apple claims they will be unaffected by Semi Shortages
TSLA - 750 Calls
AMC - 56...