In this update we review the recent price action in the sp500 (futures contract) and identify a high probability trading pattern and price objectives to target.
The Red Pitchfork ...projects the most probable path of price. Price has a high tendency to trade within this projection. Don't fool yourself - it's not just a Channel. It's nature derives from teh law of physics. That's the reason why pitchforks are so accurate. The SHIFT in price was a perfect one. It's not ususal that a shift in price shows up that...
Indicators are neutral, but it looks to me like RSI needs to go oversold before we see buying. That implies a possible double bottom. I think the market is done tanking for the day though it looks like I flipped my AFRM puts a bit early, but it had already done a 10% swing from green to red. Congrats if you shorted garbage on the morning pump, all my garbage...
On Monday sellers drove the S&P 500 to lower levels. The level of uncertainty in the market remains high. With this environment, the S&P could easily go lower. Without new news, a more typical rhythm would be for an inside only slightly lower day as the market stops to catch its breath and sets up for additional news.
Bear market is close than you can think Not financial advise
my ta shows spy could bounce all the way up to 438 tomorrow with a next leg up to 445. MM won't want 410P to be itm, many puts being sold
I heart TradingView.....the description is in the chart
For weeks, I have been expecting market rally toward FED meeting, however, by losing almost 3% today and close at dead low, I think bulls are losing this battle for now. We will have CPI report this Thursday morning and Fed meeting next Wednesday, both add to the uncertainty to the market until it's done, which make it very unlikely for market to go for the...
Read!!!! Alternate Count if we can't hold the previous low Target Area --->>>>> (White zone) : 1. Algo Target 2 .Pivot points 3. Parallels Meet 4. Prior structure of a "Lower Degree 4th wave" 5. Fibonacci from the pivots of 2nd wave ---> 4th wave 6. Measured Move "Golden Zone" 7. Time Extension "1-1.272" 8. Extension from W ---> X ----> Y...
I'm not suggesting here that the broader equity market is going to violently sell-off soon or anything like that. I figure that posting an idea on such a scenario might be useful just in case volatility picks up a few knots with some foreseeable seasonal headwinds. Also, the broader equity market is probably going to sell off soon. Now that the possibility of...
spx emini futures are looking like they are on their last leg intraday. puts are coming in that are slamming this thing into the lows, and it looks like that support may break. 4225.25 is a decent target.
3,7.22 ES1! Part 3 Let's analyze what happen and think about what would have helped in making trade decision as a seller AND a buyer.
Sunday night, bears finally made a sustained break of 4290~4300 support zone and the trending line support, so triangle is ruled out, we hit 4238.5 which is right in the support range for standard wave (2), and rallied 80+ pts so far, micro structure can be viewed as a 5 wave up, so that could be the wave 1 for push higher. So if we could get an pullback today in...
For 3/7 #es_f Mar * Y'day balance 4321 * ON balance 4268 * Weekly balance 4285 * Control 4328-4344 * Stop Size * 26pts Longs above 4338 target 4368 then 4392-4434 * Shorts below 4338 target 4323 then 4297-4234*
Good morning Traders... The market is really liking this 4322 area, as it keeps returning and churning in that area. With that said, this is still a market that is susceptible to big moves due to news. I would expect to see the market continuing higher today, as we try to push back into the middle/upper part of this heavily traded area.
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3.6.22 ES1! Part2...................................................................................................................................
3.6.22 ES: I think the ES is going to trade lower, unfortunately were a little late on a trade tonight since the market has traded lower off the open. Basically, I started the analysis after I started the video. I gave stops that were a little too rich. As I listened to the playback, I should have specifically stated that if you were short after the open on...