Spy should open up neutral if it opens positive over 263 we should be going for a long run and a squeeze. we have had almost 8 consecutive red days and a massive red weekly. will they hold rates ? i dont know.
starting to see patterns of weakness
and distribution..... in general we have inched higher
but put in a higher high last week(2538)....and have failed to
retest....with a large rejection bar after rate decision....
as well as tried to retest the 25000 level and failed on friday
which leads me to
believe the setup for the pullback is in.
we see strength at...
Euro has broken existing resistance.... but does the euro zone find these high prices acceptable? .... or is the better question.... is the dollar actually going to go back higher? my target is 1.25....since im in from 1.19 im HODL status.
We have reached a area of support for the
bottom of structure we should have
some bouncing around in this area before news....
im looking for a strong dollar this week ...as we have
already had a strong opening of the week
. one more strong pullback before a
if nothing has changed downtrend exist....feds want us to price in the interest hike coming without actually hikeing...which gives them the advantage in a currency war. ive been giving flawless execution on these ideas but i welcome everyone to dispute me so perhaps i can judge my view in a non bias way.
so like i said we are reversing which isnt a good sign for a bull trend but look at the lines of support and resistance ...wwe need to just be prepared to range until the fed decision take advantage and play the front row for advantageous positioning once fomc is thru
We begin the short on the way down - closest target foreseeable is 1.10 .....if you look at the daily there is a clear uptrend pullback making lower lows (duh) with a strong support for up trend on weekly line of support....we could be range bound for awhile soon........ our daily resistance is about to meet our support ....then some real decisions will be made