Would love to see 2080 ish.. Running out of gas....
I've been very skeptical of this move as everyone knows. As I watch dark pools selling into the high of the trading range since 192.90, I've been baffled by the extent. Friday made me even more suspicious with a super low volume futes ramp through major resistance levels. Naturally, shorts had to cover and same low volume continued. We tagged the 1.618 fib ext @...
Wowza.. Was that our upthrust after distribution? Possibly
No matter your bias, I think we can all agree this is a channel. We're at major resistance in a bear flag at the top of the channel.. Not to mention above the 1.27 trend fib ext and 61.8 fib retracement from ATH's...
I feel like ES is done here. CL_F distributing with a max upside to $39.05. If this pops at all, 2000 in play. I say we put in the low through next Monday for OPEX low.
Puts in a hammer candle at S2 on daily.. Accumulation pattern looks complete for ST phase C. Ready for mark up?
Can't be oblivious to the possibility of them running this higher. QQQ's have room up to the 61.8. If Q's run, we could see ES test the 1.618 fib ext at 2022.25. If it reverses, I would expect a 1998 back test overnight before falling. Downside levels to watch.. A close below 1960 should confirm a trend reversal
ROST is above a 1.618 fib ext and R2 on daily / weekly. Lots of gaps below starting at $47.32 -> $41.77. Smart money was unloading this last week and clearly being distributed. Hypothetically, if the market showed weakness, would this stock be a fire sale after a 720% run up? Yes it would. Regardless of market conditions, not much left in the tank here.
Observation only, but mirrored and flipped. Levels and time pretty symmetrical..
ES tagged R2 on daily and straight into a confluence of 61.8 fib levels. In addition, we see a move above the 1.27 fib trend extension very similar to the October move, which cleared just above the 1.27 before a retest then break down. Trin spike to 6.0 indicating major selling pressure, which was not reflected in price action. It then fell to .38 as if there...
Above VPOC and R2 daily. Above 1.27 fob ext with NYMO at 112.50 --- amazing.. Won't last
1.618 fib ext in to resistance and r2 daily
Way above VPOC on weekly and monthly. Upthrust after distribution and tagged the 61.8 fib trend ext.. = TOAST
You really want to be long here? LOL. Big boys were dumping.
We tagged the 1.27 fib trend extension the same as the October rally and rejection at 61.8 fib retracement from the start of the fall. At major resistance, this will be ugly, for longs. Targeting 1734
BOI on daily and weekly at max resistance. Will tank because of "earnings.." lol