Monthly and weekly hanging man
Top of the daily Ichimoku cloud so risk minimal
Possible H&S but low confidence on this pattern
Expecting high CPI and Interest rate hike due to strong oil
Therefore, it should tank.
XLK has bearish divergence at ATH with the monthly hanging man.
TP: Lower monthly low or 8 monthly MA or at the long term trendline or at weekly bullish divergence support line
Noise: Wait to CPI + Fed decision, everything else is noise
High risk
QQQ puts + HQD shares
Top of the daily Ichimoku cloud so risk minimal
Possible H&S but low confidence on this pattern
Expecting high CPI and Interest rate hike due to strong oil
Therefore, it should tank.
XLK has bearish divergence at ATH with the monthly hanging man.
TP: Lower monthly low or 8 monthly MA or at the long term trendline or at weekly bullish divergence support line
Noise: Wait to CPI + Fed decision, everything else is noise
High risk
QQQ puts + HQD shares
Comment:
Possible Cup and Handle on SPY
Playing weekly candle (TP lower weekly low) more prudent
Playing weekly candle (TP lower weekly low) more prudent
Comment:
Survived 20 day and week SMA
Shorting no longer advised
Shorting no longer advised
Order cancelled:
Too huge risk from SPY cup and handle
Handle bounced at 20 week EMA
Handle bounced at 20 week EMA
Comment:
Break of support trendline from beginning of year on NQ1!
Either fakeout or retest of trendline to dump further towards 8 month MA
Either fakeout or retest of trendline to dump further towards 8 month MA
Comment:
Potential double bottom on the daily
No daily bullish divergence but doesn't necessarily mean there needs to be one to hint at a temp bottom.