SPX must close above 3907 today to confirm the breakout! Bounced off resistance on this move, super extended and overbought now. Resistance is at 3933SPX, broken trend channel test from the bottom I have trimmed my longs (from yesterday's 3755-60ES entry) before the CPI, oh well, cant win them all. SPX is still in its opening channel Tomorrow is a directional...
Well we got a big a$$ green candle after the CPI. The crash possibility is off the table, now lets see what the price to show us direction. First yesterday's highs were taken, bullish sign. The price must get above 3880ES and stay there, then it has a great chance of pushing up. SPX main resistance is at 3905-07, closing above will get us to 3960 and ultimately...
Want to make a special disclaimer here: Do not bet your house on this if you're trading futures (ETF option market is closed) as I might be completely wrong! I want to present you a possibility of another mini crash tomorrow (Oct 13th like) maybe even limit down! If CPI comes hot tomorrow am that could produce another huge sell off like we saw on Oct 13th. CPI...
I think we hold here for a good bounce If short, trail your trade
So far so good, want 3686-3700 tested, otherwise there is a lot of support at 3660-66SPX zone
Support lines are on the chart. Im not heavy shorting as Im waiting for a pump from the election results, ideally we get one for the pre CPI announcement Ideally we close on the lows, can setup a strong gap down for tomorrow's open, Oct 13th like
Watching the next resistance to hold 50 or 61.8% retracement
He is a bit cleared out chart for my long term view on the SPX. I think (as was saying all year long), that we will revisit 2020 lows and ideally make a higher low at 2855SPX or if super weak low 2400 (less odds at this point) by Mar/Apr 2023. If there is a H&S playing out and we will know soon enough, then the price should get down to 3k zone My ideal target...
If this H&S plays out/triggers we will see the price in 3k zone For now there is a support box for the move lower. Expect unexpected, as the price was tested so many times on the downside, it can break next time it does test it. Also if this is a start of the wave 3 down, it will be fast and with min retracements, so be careful when trying catching the...
ES nothing has changed in my view, setting up for a strong move down. Should revisit the Oct 13th lows at min on the next move down. It was a lunar eclipse today, was meditating during the middle of it, woke up 3am my time. Slept in am to wake up to this rally, now its fading. Markets usually either bottom or top during/around the eclipse days. I expect this to...
I posted ES chart on the weekend with the ABC move up, we got that, but didnt in SPX ES Daily MACD is around 0 and RSI is around 50, no mans land, unless its a retest before more selling. Im sticking to this chart for now and will add to my short going into tomorrow high (if we wont see one today) Its a lunar eclipse tonight and elections tomorrow. This will...
NQ is in bear flag, as long as it holds those highs it should see lower lows imo Simple distribution and premium kill all day. All the money seems are made during the open, now algo game I would not do options, unless in and out as those loose value quick VIX closed its gap and still in consolidation mode. Ideally we bottom in Nov and see a good rally into Jan...
This is how I see it going into tomorrow's high. I see a truncated 5 down from the recent highs and now we are in 3 wave up move to finish the wave 2. I do belive we have finished the A wave on Fri push into the close, now needs a retracement down to 3750 and another push into 3815-35 zone. Wave 3 should bring us down to new lows into 34 handle...
Im looking for an ABC move up tomorrow for a new high 3815-35SPX (if we wont take Fri lows) Ideally we bottom in ES deeper then the cash price and cash will get its 50% retracement hit in am tomorrow, then we go up to close the Sunday opening gap Then we should fall hard into 34 handle territory. My timing is a low in Nov for the year and Jan high, then Mar/Apr...
VIX is waiting for its prime time and its coming soon imo Im bullish with VIX and will start buying Apr 2023 40 calls on Monday. There was no capitulation on the markets so is the VIX 2-3x rally! Means the markets have more down to go and the next move will be very violent! Things will start to move after the elections, means very soon!
Fibs are on the chart, so far stopped at 50% retracement, I would expect 61.8 to get hit today, right into the resistance trendline (black line) Yesterday's box was resistance, now its a support, use that if you want to go long (if we get a pullback today) I was expecting this rally, but missed am entry, had one NQ running on the long side from yesterday and...
I missed am rally, exited one long from yesterday at the open and didnt re buy again, was too slow Now I have added back to my swing short here (some was sold at my 645 and 685 levels I posted yesterday) Watch that bold support line, its a very important place for the price! Congrats to those who took a long this am! I was saying about this rally yesterday it...
Well we hit all the targets outlined on Oct 30-31st. Now if we wont hold today's lows we will see mid 3600 - I have a box zone at 3665-75 - and 3641.50-50SPX as the next target zone, where 3641.50 is a Maj support on closing level! - Supports on the way are - 3718-20SPX - 3689SPX Resistance: - 3791-3803 - 3907 is where the Maj resistance...