There are 3 areas the market has been chopping around in since November 10th - 3960, 3980, and 4k. Any one of them can be a resistance point where the sellers come in. Above 4k on a daily close, and 4100 would likely be next. Probable paths are shown. I'm still thinking a sell down to 3770 into December makes sense right now but 3900 will be a support zone. It...
They foiled the head and shoulders topping pattern which is usually bullish, but I have a feeling it will be a whipsaw kind of day. Futures should find resistance at around 4k in the morning session and then another test of 3900 next week to take out stops (yellow arrow). A bigger sell off would likely get us back down to 3800 by Thanksgiving (red arrow). I don't...
All in the video. SPX is hanging around it's 4hr neckline, no decision to sell just yet, Oil may be a nice short, 70 is the target I'm watching. XLE I think is also an excellent short opportunity but confirmation is under 90. Bonds look good and maybe had a very important long term low. BTC could sell some more a few targets are 145 12k and 10k Good luck
Could go a little higher, but futures just hit 4050 area. Anywhere from there to 4080 should be a temporary top. I expect a sell off to start today. First stop would be back to the pitchfork's fib at about 3930 by Friday. Good luck!
We may have one more up, or we start falling today. The trendline is an area, so we may have already touched the area the market wanted (4k). Under 3900 and the bears are likely going to push it back down to the CPI low and fill the gap on the cash charts. Holding 3900 on any pullback and we probably reach up for 4080-4100 later in the week. I think a pullback...
If this is correct the 3 wave B is finished or close to being finished today. One more high would not be a problem as the 100ma and Upper BB are both around 389-391 on SPY. Personally I think this may be a bull trap with a C coming before the bigger move up into the end of the year. Today could continue the rally, to further convince bulls and bears that the...
The strength has been in DJI this year and it will continue to be that way until the end of the year. Expect a test of the highs in December or January after a pullback starting today or Monday. Good luck!
A video about the two markets. BTC should find support around 12.5k eventually but a bounce first to 16300-400 could be first. SPX could also bounce after or before CPI to it's 18ma (currently around 3790), but I would consider it a sell on any bounce. The bearish option of a C leg going lower to test the October lows next week is much more probable after...
Bias switched to bear yesterday. I thought the daily 18ma and pitchfork fib would hold - they did not. As of this morning it looks like a C wave down is in the cards to test the lows next week. If CPI reaction is up after 830, look for resistance and a possible shorting opportunity at about 3800 (18ma) (orange path). If it sells down, it may find support at 3720...
We had a pullback from the fib line yesterday which makes sense, but we haven't had much of a sell off. It's looking like a consolidation so far - and that may be the case all day into tomorrow's CPI. The election results haven't really phased the markets (as of now) so CPI will probably be the decider. There are still 2 possible ABC forms at play - Yellow and...
Pitchfork fib support around 16k. Now that stops are getting hit, I expect buyers to come in soon, but under 15k would be very bearish and it's possible to hit 12,500 as next Fib Support. If it's a C up from there, it may be a large bounce back to 23k in the coming month. Good luck!
Opportunity for a double here. All mj's ready for a big move up. Today CGC is a buy with a stop at 2.80, good luck!
If this is correct the B wave should finish today and then we go lower for a few weeks. This will be incorrect if they start getting over 3900. The Pitchfork fib is currently at around 3850 on this chart. Good luck!
Gapped down on futures at open, so we're currently under the daily 18ma. Getting over it tomorrow would indicate to me the B wave will continue to about 3850 into the election and then we should have a powerful C leg down. Keep in mind that VIX has been selling off consistently for almost 2 weeks straight so a bounce there is expected soon. If the market is around...
it's been bottoming lately and being quiet, but I think we're about to see gold wake up - 200 point move to mid 1800 - 1900 possible here. Silver/GDX similar moves. Good luck!
The B wave I was watching for may already be finished, in which case a C wave to scare people into, (or after) the elections may be next. This idea is invalid if they can get over and hold 3800, but so far the pitchfork Fib's is holding price back. Target for C would be approximately 3600 but probably under to test the strong support zone. Closing under the...
Some ideas on what I think the market is about to do and the long term view on AAPL. I do think AAPL likely bounces into next week, with or without strong earnings, after that I would be wary of long positions. For more information on Wyckoff distribution tops you can read a little here 3commas.io
For a bounce and perhaps more, all in the video why today I think it's a buy opportunity. Good luck!