We are very close to a double top. Maybe early next week. If the market has to turn around, 295 is where it should early next week. Here are a few things I observed: 1. Volume was higher on a green candle day. The few times this happened in April, it was followed by a red candle. Will Monday be red? 2. All the bears are now throwing in their lot with the bulls....
Enabled extended hours as it makes the ratios more accurate. This also means that C and D could occur overnight! Caveat Emptor and good luck!
If we gap and crap today, we may be following a bearish butterfly. Caveat Emptor and good luck!
Back to back harmonics in futures. Will we see a slump overnight or will I get stopped out? My trade setups are in the chart. Paper trading. Fill (short): 2892.9 Stop Loss: 2900 Take Profit: 2845.6 Caveat Emptor and good luck! Like, comment, share if you find this interesting.
We go to 294 SPY and drop to 265. Seeing a different number and pattern on SPY but I think this is more accurate. Regardless, up,down,up. Next target at C. Caveat Emptor and good luck!
293 - 276 -> 300+ Don't sell in May. Caveat Emptor and good luck!
Are harmonic patterns for real? On ES, I am able to find a lot more harmonic patterns. Here is one that we can see now (very close alignment with perfect fit) after it is done and gone. Saw a bearish gartley today as it was forming in the 1 min chart and made a few calls that turned out correct. This stuff works. Finding them is hard work though. With algos in...
"Trump calls coronavirus ‘worse than Pearl Harbor’ or World Trade Center attack, as he says task force will continue". Newswire from 11 min ago. NOW YOU ARE TALKING BUB. Tweetie now says all is bad and uses an emotional reference to emphasize the task force's importance to him. It will continue. Big Money is supposed to read this as - we will keep folks shut...
Looks like a wedge forming. Market does not want to break any barriers right now - neither on the upside nor on the downside. What is the incentive to hang around here? There is a big carrot floating in the distance - $2 trillion. Maybe more pork. Why sell now? Surely, there will be better price ahead. Those with a conviction about what the market should do -...
Bearish buttterfly with two targets: 1. 1.618 Fib target at 289.40 2. 2.618 Fib target at 290.60 Much clearer on 1 min chart. Caveat Emptor and good luck!
Historically, VIX stays at 30 or higher when there is a substantial fear of drop in prices. We all know the market is disconnected from the economic reality. Till they reconcile, VIX 30 is a good area to go short again. Thing about VIX is it shoots up very fast once the price drop passes the "unexpected" mark. I believe 271 is the "unexpected" mark on SPY. That...
Having trapped bears yesterday and a possible gap up today, look for selling today that will trap bulls. It will confirm downward momentum shift as the indicators are diverging from price action across the board. This is when the market snaps lining up with indicators. Will today be the ‘snap’ day?
GE has strong buyer support at 6.20. With lower highs, it is a matter of time this shelf breaks to the allow downside movement of prices. Technical indicators lean towards lower prices. Caveat Emptor and good luck!
The shelf finally broke. How low will we go? March lows is very near and then 2008 lows are next. After that, watch out! Interestingly, I am seeing divergences on MFI. There is an upside potential but when? Difficult to answer.
120 has been the floor since April. Combined with lower highs, this wedge is ripe to break down to the downside.
I am favoring this kind of movement in the run up to elections. Market falls after election. This economy and the social impact will take time to heal. Watch for c and d levels, not time.
Kudos and thanks to those who identify. How low should it go? NFLX went down two previous times there was a divergence in weekly. Will it do the same the third time?