PipMiesterStronger

PipMiesterStronger Updated 

My post Friday, warned of a bounce coming soon and it mentioned covering shorter term trades. Please refer to the attached "related idea" at the bottom. Now we have gotten a nice little bounce, it already looks like it's trying to top to me. It could top here or surge higher to 279.30 or 281. But regardless wherever it does top it will be the next best place...

PipMiesterStronger Updated 

Trade idea cover short term exp shorts fairly soon. A little fun with taking measured moves from various 'h' patterns and Bear Flags. I see 3 different measured moves and they have very strong confluence with the 271.50 area. We also have some Support Lines coming into the same area. One of which is quite important (purple) as it is part of my large flag...

PipMiesterStronger Updated 

Beware of the 'h" patterns in downtrends. Entry is at break of the bottom of the 'h' horizontal support. This may break down, but then consolidate more sideways, maybe even attempt more bounce around action, for a prolonged consolidation here at the top. Of course, it could waterfall sell off... We don't know. GL HF GG * with only a half hour left of...

PipMiesterStronger Updated 

All I can say is, what a Bounce! Well done Mr. President and institutions for keeping the Bears honest, btw: shout out to the real Mr. P! Unfortunately, you cannot prop up a market forever, and nature’s course will always find a way. I believe from this point on you can expect the market to be in a perpetual downtrend with lower highs and lower lows over the...

PipMiesterStronger

I will not be fooled into thinking that there will be no bear market like many others are starting to doubt. We finally have a nice clear higher timeframe bearish divergence seen on the 4 hours. As of this point in time the only divergences could have been seen on the 1 hr. Fed broadcast yesterday was interesting because he really didn't reveal anything that...

PipMiesterStronger Updated 

Will We finally Break the Ascending Wedge that we have been in for almost a month? If we break down and continue down, then we have gotten a very big fat bull trap by getting above some resistance levels last Friday. We had a nice 4 day weekend to contemplate how prices could now flip bullish. Many people that were bearish started to think like a bull, they...

PipMiesterStronger Updated 

Divergence 1 week & 2 days of Bearish divergence, 1 hr chart. Daily Stochastic has touched once and crossed once. It's well above the 80, touched 100, and is starting it's decent and is currently at 98.7. IMO its Very Overbought. Since we are in consolidation and we are not trending I can have confidence in the Stochastics. The 1 hour, 2 hours, 3 hours,...

PipMiesterStronger Updated 

Why hasn't the IWM (Russel ETF) moved like the rest of the market today? hm. That has given me confidence, as in the prior breakdown IWM was a leading indicator. We still have our daily Stochastic in overbought and had crossed a few days ago. 50 EMA very close as resistance. A multitude of Other resistances in this area including fibs, from various tops....

PipMiesterStronger

Ill make this quick. We created bearish divergence over the last days of trading. (light blue) The last impulse yesterday high a very high volume of about 15 minutes before the market closing, where high volume is normal. This to me could make it a valid high volume topping bar. Remember our daily Stochastics are primed and have crossed yesterday. The total...

PipMiesterStronger Updated 

The small H&S played out to its target. Price has retraced to test the bottom of the consolidation support, now resistance. I expect price to find its way to the bottom of the purple channel.

PipMiesterStronger Updated 

Declining Volume on the daily chart reinforces the indecision and is a signal for a trend reversal. Yesterday's candle was a massive doji, butterfly, hangman, whatever you call it was extremely indecisive, also signals a trend reversal. Today we gapped up as per usual with the nightly futures bot trading this past week. But this plane is starting to shake. I...

PipMiesterStronger

There are some things that I need to get off my chest. In the three different types of market cycles, price action, breakouts, and indicators all act very differently from each other. One can know technical analysis, but if you cannot curtail your mindset, and indicators depending on market cycles then you will usually find yourself on the losing side. One...

PipMiesterStronger

I thought price would at least get to 258.3, but it appears to be running out of steam on this drive. We will see if it pushes up hard or falls below its agressive trendline supporting the price action from the last 2 trading days. We have a pretty clear channel at this point in purple. I would prefer that price surge higher now and exhaust itself maybe...

PipMiesterStronger

Daily Chart 1. Stochastics are in the same area and crossing as they had in SPY's previous drops. Both at the 280 Price level and the second drop started the big sell-off. 2. 21 Daily EMA (in Yellow) has been tested and possibly rejected (we must wait and see) 3. The light blue line is a very historic trendline gathered from connecting the hights in 2008 to...

PipMiesterStronger Updated 

Bearish Divergence on the 15 min chart. In a bull market, this is nothing. In a bear market, this is everything. Living below the 21 monthly MA means we are in a Bear Market (the 21 MA is at 263) If the market surges for a higher high this divergence will be continued for a more clear short opportunity and more extreme divergence. In my opinion, Price is...

PipMiesterStronger Updated 

Since the Futures have already broken structure we can assume that we will get that start of some downside movement. Whether we already topped or if we are simply pulling back is a big mystery in my opinion. In fact, trading bounces, are very difficult as there is an inherent lack of information as the movements are so volatile, not leaving as much room for...

PipMiesterStronger Updated 

Bearish Divergence on the 15 min chart. In a bull market, this is nothing. In a bear market, this is everything. Living below the 21 monthly MA means we are in a Bear Market (the 21 MA is at 263) If the market surges for a higher high this divergence will be continued for a more clear short opportunity and more extreme divergence. In my opinion, Price is...

PipMiesterStronger

Just a fun little exercise. If this RSI were the Price, and we retraced all the way back up to the old breakdown support, wouldn't this be the place to short and look for the market to fall? * not saying this is the top of the bounce, but certainly, something to consider. * BTW we do have bearish divergence on the 15 min, in a bear market that is significant.