Quite a start to September with the WHOOPS reversal back into yesterday's range. Despite the vulnerability at the open, very likely fresh monthly flows came in on dips and got follow through. Now we will see if this zone holds into the holiday weekend!
What a month! August shaped out to be the Shooting Star candle the bulls were worried about and the fact that it is on top of the prior month's inside candle leads to the potential of a test of the July lows on $SPY! New month tomorrow, so we will see if fresh flows take precedent or if the bears stay in control!
One more trading day left in the month! We are tracking this monthly candle to see if it closes as a Shooting Star candle, which could have ominous implications going into September, one of the statistically worse months of the year. In the meantime, great intraday price action!
Quite a day today! We discussed the rejection of the Macro DTL corresponding with the 200-day moving average on Bloomberg, and now after today's price action, we want to see if today was a "Doji Sandwich" and we see a measured move, if there is more chop, or if there is another test of the DTL. It will be interesting to see how the monthly candle finishes over...
Quite a down move today after the JPOW comments from Jackson Hole! We expected volatility, but now the market is thinking the Fed Pivot may be a little delayed. It will be interesting to see how the monthly candle closes this week and we go through that and other time frames on $SPY in this video. Thank you for checking it out!
In this video, we cover the larger time frames and work down to where we post our intraday alerts! Hopefully you find them helpful!
Very limited action here. Wave B may still be in the works. Trucking issues could affect deliveries from Canada and raise prices, so the harmonic move may be done.
Bitcoin got out of the DTL but ETH still struggling. Let's see how this candle closes.
Great push out of the DTL, but now a Shooting Star forming at the top of the resistance zone...
Mostly chop after the breakout as we see if a bull flag is forming...
Notice how it found resistance at the recent pivot high. Could be bull flagging for now.
Still slightly up so we will see if wave B holds or if this is the start of a fresh wave.
Not as strong as the Bitcoin as this has not cleared the DTL yet, but showing some strength so far.
Cleared the DTL with force! Now needs volume to confirm, otherwise this drop zone could prove as some resistance.
The market continues to hold the DTL, so the futures red so far this morning is not surprising. Big tech names reported earnings so now it is about price action.
Gap up but still not taking out the potential wave B so we will see what is in store.
Strong reversal pattern back to the zone. Again, all about the DTL or downside confirmation at this point.
No confirmation yet on the down move, but overall choppy action heading to the DTL, so we will see.