SLO STO looks approaching OB on daily. More importantly Lots of prints on Spy 193.86. I believe they we opening short positions and closing longs. Monday will bring confirmation. If my thesis is confirmed, targeting 1790. Possible we get a short term breather to move higher. VBP shows little resistance until confluence in the 61.8 fib area. My original upside...
XLE OB on SLO STO daily, but can see continuation up to 60.93 or .50 fib. Then, I expect to take out the lows before mark up. You can see where the VBP resistance level are.
Here at support or breaks down gap fills below. TBD
Right into resistance - tagged the 61.8. Doji candle and in early stages on accumulation. Should take out the low, targeting $26.00
For real time entries and exits - twitter.com
Follow me on twitter - For real time entries and exits - twitter.com
Looks like a secondary test below today's low is possible before mark up
Let's see. Targeting 191.57. May want to wait for the margin calls to be executed to catch the knife
Would like to see a dead cat bounce here
Looking for 1910 - 1912 area for rejection.
Playing out as thought. Target 1 was 1854.75. Off by 5 handles. Next move should be up, but looks weak. Watching..
I'm seeing bullish divergences in in the lower TF's and this is clear accumulation. Short term bottom may be in, but this 1841.47 level has my attention. I would like to see a move down for further bull capitulation. Psychologically taking out the August low, but not the previous October low, would be a fantastic long set up. Friday's close bouncing off support...
Friday looked as if we put in the low finding support, but put premium was still pouring in. From a TA perspective, The 4 hr candles and daily have not completed SOW, which leads me to believe a retest of lows Tuesday is likely. I'll add, we had $63M in put premium on Friday and net deltas -11,119,797, that's just obscene. It looks like Tutes closed short...
We took out both of my downside targets of 1861 and 1850. Call the reversal at the low. New target ~1965