Sawyer170

Sawyer170

Bearish continuation triangle on the 1 min chart forming very nicely. Although I can only publish on 15min charts and above. This could be similar to the previous times we have tried to surpass the 50MA daily line and failed leading to a large sell off.

Sawyer170

To a large double top within a bearish continuation triangle. This rebound I believe started from oversold levels has not been able to break above key moving averages.. after enough resistance bearish formations occur and a change in trend.

Sawyer170

Mcclellan oscillator shows that their is still some room to come down on the daily chart. I believe this drop would most likely go back to the December lows before seeing a significant reversal to the upside. I'm seeing a bearish triangle forming with the double top forming out right now inside it signaling downside.

Sawyer170

I think this is a relief rally and that is all. Some small positive catalyst came out but nothing very serious that dramatically changed anything from the current corse. We are still dealing with the same inflation and still not close to the feds target. It hasn't gotten worse which is good but we're not done yet, meaning their is most likely going to be more rate...

Sawyer170

A bounce was expected from dropping quickly. Although overall signals remain bearish still. Also darpool data is showing high spy put options volume from whales in by the multiple of millions per contract.

Sawyer170

Double bottom formed very nicely along with hourly RSI at very oversold 30rsi levels, it has been down their for a while. With the news of rate hikes rising from .25 to .50 also I'd expect with the jobs report on Friday the last catalyst to confirm a strong downtrend if it dosent happen before due to the market being forward looking. Bearish on SPY right now...

Sawyer170

Could possibly bounce off the 20 ma which it is approaching. Or continue upwards and likely bounce off the trend line. Double topping out just like all the previous bounces ups. Stocks have not come down to their bottom yet meaning that this crash down can not be over yet. A bullish stance should be carefully monitored with a very short term outlook ready to...

Sawyer170

It has had a vert nice run up off its lows, and it's RSI has now reached 70, where every time before on the daily time frame this signaled a big trend change in direction to the downside. 70 being the oversold area supports the idea of shorting or put options. Along with the formation of the bearish continuation triangle being right at its double top form where it...

Sawyer170

Using the EMA moving averages a death crosses fromed today quickly following a golden cross. These are both the FIRST golden and death crosses to be formed on the daily chart since before the crash in November of last year. I am bearish until a few months from now around the time of the fomc may meeting to maybe get a different outlook.

Sawyer170

Signaling some downside after running up sharply and quickly... RSI is also running down about to break below 50 which would confirm a downtrend and strength in the trend direction down.

Sawyer170

More downside... don't see why bullishness would all of a sudden be back in business..

Sawyer170 Updated 

As you can see, we are nowhere near an Over Bought SPY, we are at or close enough to an Over Sold SPY to signal a trend reversal according to previous reversals. Maybe we will have to cross below 30 first or touch it.. maybe it's Sold off enough and a reversal will make positve sentiment return to the market and start a bull run, who dosent want that right?...

Sawyer170

RSI has been on a downwards trajectory and well past below 50, confirming bearishness, most likely heading its way to the 30 or below line before changing overall main trend direction. The Dmi/Adx is also signaling a strong bearish trend direction. Compared with the formation of the bearish continuation triangle I am believing that the dow will be substantially...

Sawyer170

Also $3.5 million worth of $232.50 3/3/23 strike puts bought on the darkpool by whales today. At $5.69 premium each.

Sawyer170

More overall downside in the long term. If their are small pullbacks up its probably due to relative strength, although I belive the overall trend is strong downward.

Sawyer170

Short/mid term bearish triangle in yellow which is what we are currently in, and then you can see how it complets the overal grand scheme the larger bullish triangle forming one so large it has a triple bottom inside it instead of the typical double bottom patterns... the yellow triangle has a double top formation inside it...

Sawyer170

Short it.. also darkpool print of a $2.3 million $90 strike worth of puts with a 6/16/23 expiration for TLT was bought about 19 hours ago today.

Sawyer170

With the daily RSI in oversold territory 30 rsi and the MACD looking as if bottomed ready to rebound in unison with the rsi.. dmi/adx will reverse with green dmi+ crossing up above the red dmi- and the yellow adx rising above 25 signaling strong upwards trend strength..this will play ouy.. what's happening now is the ADX currently at about 18 is signaling a very...