patricktapper

patricktapper

Weekly pivots have worked really well during RTH. Technically you might see a good bounce @ S2 where we are now. It's Friday, we have CPI and probably some big earnings releases today as well. If it were to bounce, I'd expect some downside in the first 30 mins after the open and then a rally. Failing to do this means there is more downside to come today. I am not...

patricktapper

Not looking like a buy the dip opportunity at all. Next target is the coincidental Q and M pivots down near 5,300. That will also fill the gap from June. From there its a wait and see. Either more downside or a recovery after exits and accumulation.

patricktapper

Bounced up to weekly S1 pivot today. See if this holds. I have the feeling it won't and will be more downside ahead.

patricktapper

Had a high @ Quarterly pivot, now we should see a bounce around monthly pivot (red) marked off on the chart

patricktapper

SPX Hit quarterly and monthly pivot this month. Now on the move to PP at around 5400.

patricktapper

Formed a double bottom against yearly pivot level. Now on the way up again. First target S3

patricktapper

Showing good signs of strength at yearly pivot earlier this year. And then a recent bounce at the 200EMA. Not convinced this down leg is finished, therefore what we see here may be a bull trap.

patricktapper Updated 

ES looking like profit taking about to happen. Up at monthly pivot coincides with Q as well.

patricktapper

Beans made a second bottom at the same yearly fib pivot. See if it can get past the last swing high after a bounce I noted earlier this year on the same level.

patricktapper Updated 

We are at R1 and FR1 yearly pivots. Strong resistance. Very ugly looking engulfing bar Thursday. Don't bode well. Could be the end of the Santa rally. Watch and see.

patricktapper

HCD pattern @ QR1 Pivot - very bullish May break strongly this week

patricktapper

Strong resistance with a confluence of QR2 and FYR2 Pivots. The high could be in for 2023

patricktapper

MES is at YR1, YFR1, and QR1 - strong downside expected

patricktapper

Between YPP and QR1 pivot. Look to take profits/reduce risk at these levels

patricktapper Updated 

Looking at yearly pivots. Price rejected R1 and now on its way to yearly pivot at around 304 for a bounce up seeing the rest of the year out.

patricktapper

I am a great fan of yearly and quarterly pivots. Without doubt, algos are as well. You often see the largest reversals at yearly pivot levels. No matter what instrument you trade on U.S. markets.

patricktapper

Longer term target around 14,200 There is little more to say at this stage!

patricktapper

The top for the summer could be in. We have demand, but more buying, which indicates that the SPY is oversold. We may see a sell off before the market comes back for the end of the year rally.