The VIX is up 20%, Put-Call ratio is almost down -5%, price is below 50/200 EMA as well as falling below a large volume order block. These are just the technicals that have been building up, the fundamentals however are much worse. Oil prices may suffer greatly due to the Ukrainian tragedy. Things are really messy politically and I can't see there being a...
There is a textbook Wyckoff distribution forming on the SPY. We have just seen a large gap down SOW (sign of weakness) and a LPSY (last point of supply. We now see a retest to this resistance / early support level. The final phase of this distribution looks as if it is going to take place, which could throw the SPY for a huge plummet. It's about to hit the fan in...
two price action based scenarios involving various supports and trendlines that are mostly psychological and due to the uncertainty of the market. if fed reports continue to not prove any bullish scenarios, we could see a plunge below the previous support level we saw after this years 12% correction. on the other hand, if something as lets say: less or no rate...
Seeing as there is no Fed meeting tomorrow (from what I have seen), I don't believe there will be excessive volatility tomorrow. The money flow has been primarily bullish and there are no important volume levels we're facing. We are, however, at the .618 fib level. We are currently above the 21 EMA + VWAP. I believe that if we are able to push above the .618 level...
- below 200 EMA
- multi week down trend
- no buy signals
- bottom still not found
- true bottom of bullrun since last year is $29k
watch for a drop below $40k, may retest true bottom at $29k at which a reversal likely take place.
*not financial advice*
