IBB completing ST (10) in accumulation pattern. Selling climax completed and weak hands shaken out. Lots of gaps open above. Watching Monday for clues, because if 249.77 holds, time to get long. If not, will look for long entry at 225.53. Waiting for entry.. Lots of good bio names set up for short squeeze. Not long yet, but bullish
Keep a close eye on this. Upside and downside levels will wreak havoc on the market.
Not an exact science, but using fibs, gaps, option flow, and pivots with my belief in tomorrow's ES levels. We have a small open gap at 14.24, but I'm looking for a move to 13.24 before a move up. Downside and upside targets provided. Obviously the 61.8 would be first, then become more risky above. Watch for volume confirmation. Gap above at 19.67 is possible,...
Looks like it completed (10) today in accumulation on the 1hr. As expected filled the downside gap at 26.64 into market weakness. 1.618 fib ext is at 25.69 which is right at support. I believe all downside objectives have been met and up we go. Target #1 - Gap fill at 61.8 which is lined up perfectly. Target #2 and most likely is 39.45 which is BTI. I would...
$21M in put premium today in SPY and rejection at the 61.8 supply test and down trend line. It's possible we chop inside this triangle or just break to the downside. Confluence of fibs at 1980 level and S3. Lots of June puts bought near those levels. TBD
Bounced off S3 on 60 min and filled gap. Took profits on weeklies, but May 20's still open and common. SPY had $19M in put premium, which indicates more room down.
S3 hourly on vola crush and short squeeze. lol
SPX filled the gap at 2081 with ES tagging the 61.8 at the down trend line above R1. Perfect short set up? I thought so.. Looks like vola crush and short squeeze on low volume right back into supply. UVXY avg daily vol running hot and $SPY.. Well, not.. Looks like LPSY on weekly..
Below S3 and right at the 200ma.. At least a supply test in order.
Hammer at pivot with VSB and par sar gaining. 20VWMA crossed 10ema.. Bearish, watching closely. Unusual Jan17 $42.0 Puts at $9.05. Odd.. Called out by @wallstjesus
I think we see a supply test back the 61.8 @ 2076.75 before next move down.
Tagged R2 with two hammers at the 61.8 from the previous low. Par sar sell day 3, but closed right on Vol stop. .01 lower and VSSD#1 triggered. 10ema falling and about the cross the 20 VWMA. Still above support some how, lol. Macd rolling over, RSI pitch down accelerating, and CMF peaked on 3/18. Since, it's been moving at a fast pace out. Clear signs of...
Bear flag into the 61.8. Expect it to pull back to 2051, then bounce for a lower high at 2064. Also possible to run to 2084.75 R! and .764 fib
Rejected at down trend line. Did support become resistance. Put vol spiked 1100% avg targeting July 15P's @.80. I would the short at 20.87, which we will most likely see Monday
I think it's possible we see a bounce Monday at cash open, but doesn't have to. We have a double bottom at S3 on 1hr and filled the 206 gap. In conjunction with an accumulation pattern I see on UVXY, which has lower downside objective to meet, would support a SPY bounce Monday am. I very much want to see a positive open to re-enter a UVXY call position I exited...
We have a potential double bottom at 24.09, if t's the bottom. Open gap at 23.96, so I suspect we fill it and overshoot to the .5 fib at 23.89..