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Here on S&P500, price has completed a larger continuation correction on the larger scale, and lower time frame is showing more bearish price action. What we can see now is the price has clearly move down in an impulsive phase on the latest development since last week. This is good sign for more bearish price action this week. For now, its best to see if...
👉Special Stream: FOMC Interest Rate Decision. The forecast shows a 25 bps increase from 4.75% to 5% 👉Scheduled Streams: Monday - Friday 9:15 am EST (15 minutes before NYSE Open) and we go for about 45 min to a 1hr+ depending on the markets.
I previously discussed the likelihood of the S&P 500 Index (SPX) experiencing a rebound towards the 4000-4050 range, with particular attention given to the 4020-4040 level. The index indeed reached approximately 4039 before encountering a substantial pullback. Trading on such days can be complex, and if you're not positioned correctly and overleveraged, you may...
If you read last week’s article, you saw results for the famous (or infamous!) moving average crossover. It bombed vs buy and hold over the last 10 years, even when using take-profit and stop-loss levels. So, how do moving average bounces perform with the same exit levels? That’s what we’re testing today… The Trading Truth Test Setup Our setup is the same...
Simple idea. Price has drifted closer to S/R line, seems likely to test it soon. Buy that dip, but Bear is not over! Indicators approaching oversold; FOMC FOMO likely start a weaker rally to a right shoulder; then June Swoon.
Bear market isn't over yet. Based on wave (W) and (X) we are going to get 3 wave move higher which will be end of wave (Y). Bear market will continue after completion of wave (W) (X) (Y) in red. Let's follow up closely...
The futures are looking pretty dreary for the S&P 500 but it could just be a test of the bottom of the upsloping channel.... market is selling off but is there really any thing new or surprising lately?
interesting chart here. we have spx/nq1!, the bottom formed in nov '21. this was a great 'exit all markets' signal. local top was jan '23, which was a great 'risk on' signal. now we're in a potential wave 2 zone with rsi hitting oversold for the first time since 2020. i think this will turn into another macro 'exit all markets' signal.
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Typically fed decision days are up big and then usually down later the next day. Today fed raised 0.25 as expected. they tried to rally, then "whomp" over the head after Jerome Powell mentioned that the Fed would still raise rates more if needed despite the recent bank support efforts.
The S&P500 failed to close over the 4hour MA200 and is pulling back to the 4hour MA50. Buy this pull back as it is not only near the 0.5 Fibonacci level but also the Cup pattern's Support. Target Resistance A at 4080. Previous chart: Follow us, like the idea and leave a comment below!!
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Update to - Strong sell off but I find it very suspicious. I feel like the last up move was likely a break and this is just a brutal bear trap. Keeping stops tight because I dont want to be rugged, but back into all my longs now. Short puts/long call.
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