brksbenson

brksbenson

Chart of the NASDAQ with 2008 scenario overlay based on bear market timing. I think we could beginning a new phase higher before more pain comes, market feels very bearish and markets do not bottom on good news.

brksbenson

ES getting rejected at yesterdays 30 min vPOC 4160, looking for a break of 4136, a high congestion weekly vPOC area for a continued move lower into 4100s. New home sales terrible 511,000 vs 585,000, and terrible momentum after the last two down days, was really hoping for more strength for a better short near the 5DMA 4219 but this action is weak. Looking for a...

brksbenson

looking like the start of another rejection at the 200 day 4307, taking shorts on again maybe some weakness in the last hour.

brksbenson

Inidicies extended on all time horizons, looking for some pull back to repair lower levels. We cleared May highs on the upside, now if we look below and fail it could get ugly again for the bulls.

brksbenson

looking for a high test to break above 4202.25 and then fail. Initial levels I had mentioned earlier 4228 still in play, however could see a rejection around the 4210-4215 range, will be looking to scalp short on a break above 4200. Market internals are very strong after positive CPI report.

brksbenson

After a sideways move yesterday and a weak open today 4080 held trapping short sellers. Looks like we can push to fill the overnight gap at 4022 and possible continuation into 4200. Must clear 4108 for bulls to remain in control (100 day moving average on ES). Back to long after sell side bias.

brksbenson

Price on ES came to within 2 points of weekly POC, close enough for resistance level, opened a new short position 4130 expect some pull back and digestion after the incredible move this week. Lets drop this thing.

brksbenson

will look for shorts on a high test of 4136, bulls still in control above 4080.

brksbenson

NASDAQ has rallied +400 points from the lows yesterday, it was my belief that we would find support at 12175 yesterday, however 12070 is where we actually found support. Still maintained long position as I was of the belief that GOOGL and MSFT wouldn't disappoint. However, no real edge at current levels, booking profits and will reassess after the announcement.

brksbenson Updated 

Late afternoon yesterday (7/25) the market took a hit on $WMT guidance cut. There appears to be a trend of worsening earnings, macroeconomic data is deteriorating and inflation is running rampant. Nothing on the surface suggests this market should move higher, which in-fact is the reason I am now slightly more bullish that we will see a 1-2 day squeeze from...

brksbenson

Nasdaq has run up over 14.5% since bottoming on June 16th, 2022, time to be less aggressive on longs. We took out overnight highs again this morning on a fast retest, SNAP earnings damage reverberating through META GOOGLE and TWTR. Nasdaq needs a retest of the recent breakout zone 12,200, 250 points lower from here.

brksbenson

Watching 12,555 for vPOC rejection, best case would be a gap up into that level and the dump into tomorrow. If this level finds buyers upside targets in play 13,000, then 13,294.

brksbenson

Analyzing current market environment against 2008 timeline, seems this market can continue to push higher, will be carefully watching 12,555 for a 30m vPOC rejection (prior high test and reversal. We have currently retraced 13% from recent lows, Ethereum staged a 64% bounce (crypto and semis strong), can continue to push until the end of the week if we are able to...

brksbenson

Analyzing price volatility during the 2008 Financial Crisis.

brksbenson

Comparing the 2000 dot com bubble to the current 2022 cycle. Analyzing time and price volatility.