merkd1904

So, after Friday being the newsapalooza it was i hope you jumped on that train. Between the Fed not doing QE (it's kinda QE), good news on the Brexit front (more today as well), and our "Phase 1" trade deal (which isn't anywhere near being inked) we rallied up past the breakdown candle high, only to be rejected from it. I know a lot of traders took a short...

Let's face it. The dude is a master at manipulating the markets and the markets eat it up. But regardless everything is pointing towards this "mini deal" and apparently that's enough good news for everyone to pop champagne and shoot for net ATH's. Today we opened right where we left off after a WILD night in the futures markets and sure enough we ran up to test...

Either we gap up through it or head back down to test the uptrend line, in which i wouldn't expect it to hold.

So we did end up gapping above and into the symmetrical triangle and testing the intermediate term trend line for majority of the day after grinding through it on a low volume/algo pump. It's almost as if everyone had to go collect their thoughts and lick their wounds after the past couple days. But after grinding higher most the day on half avg volume we had an...

Today was another incredibly challenging day to trade intraday. The market wants to be bullish SO bad and honestly i thought we were going to turn there for a minute. But this schizophrenic news flow is whipsawing everyone left and right. I'm personally wearing this one with bad entries and overreactions to news. My target of $289 on SPY and $2900 on ES were...

Even though today's volume was below average it didn't feel like it. I haven't taken a whipsaw to the face like that in a minute. We failed to break through the medium term trend line and the last two hours finally got rejected off of it. In my last post i was expecting a retest of the neckline from the H&S but we ended up gapping over it only to be pushed off the...

Since that short cover rally faded into the wind It looks like we printed a big ol bearflag on the 60 and 120 min charts, again. Barring any super bullish news overnight i'm expecting $282-$283 (Daily 200MA) as our next destination tomorrow. Still no bullish divergences on RSI either.

Just noting that the violence of yesterday and today seems more pronounced than August's sell off. We blew right through the gaps at $291.06 and $288.92. That in itself should tell you this should not be played with. This is the proverbial freight train with no brakes. There strictly aren't any buyers. BUT with that being said we're extremely oversold on every...

Falling wedge and bullish divergences on the RSI. In general this should play out to the upside as much as it pains me to say it. The RSI divergence starts to wash out at about the 4H and is definitely not there on the daily. AND keep in mind SPX and ES did not fill the gap today. There's a dislocation between the SPY and the other two based on the dividend they...

I know it's been a H&S party on a lot of these posts lately and i also am aware it's Asia session and AH's and volume is light but thought i'd point it out. This is on the hourly. If it does play out i'd expect a test and possible break of the 2960.25 level, and if it breaks, taking us down to 2939.25 level (Gap fill on SPX and Spy ). Do i expect this to happen?...

Anyone else catch this on the 15 Min?

Due to the bearish divergences on all timeframes tracking back all the way to Jan if you look back far enough i feel like this was a long time coming. But due to the state of play elsewhere in the world we were melting upwards. There needed to be a catalyst either way for the market to definitively pick a direction, i fear we may have found it, and it says...

Possible Cup and Handle continuation pattern printing for SLV. More pronounced and confirmed on XAGUSD. We'll see if it plays out especially with Fed speak later today.

Possible Cup and Handle continuation pattern printing for Silver. We'll see if it takes off especially with Fed speak later today

There may be a possible Head and Shoulder reversal pattern printing on the hourly chart for SPY. First target would be the $298.20 range and if that does not hold secondary target would be $297.00 with marginal support at $296 and major support at $294.50. This is negated if price reaches above the break down candle from Yesterday morning 07/29 @ $301.93. If...