Market sold off as I expected yesterday. It was especially difficult for tech to overcome the resistance area of 313 on QQQ.
Having said that, there are signs that yet another whipsaw is coming in a week or more. All in the video - I hoe you enjoy it.
Good luck!
Having said that, there are signs that yet another whipsaw is coming in a week or more. All in the video - I hoe you enjoy it.
Good luck!
코멘트:
Good morning, bounce incoming, i believe it's a sell into next week.
코멘트:
target area reached, a little higher would not be a problem, looks like B before a larger C down.
코멘트:
spy - backtest of rising wedge
코멘트:
if this analysis is correct, the C wave down should be starting here or with one more high. Out for the day- good luck!
코멘트:
B wave was larger than expected, makes sense as the smaller RSI was on the extreme lows. Now C to 3800ish looks confirmed for now.
코멘트:
1-2 look finished for the C wave, the third wave should be tomorrow, I expect a hard gap down under 3900 tomorrow
코멘트:
I mentioned before the XLF has strong monthly Bollinger band support at the 29 dollar area, and we are close to that level already. A spike through 29 for a few days is not an issue, but it's another reason I'm bullish around + or - 3800
코멘트:
we are outside the sideways channel on futures, I think it will keep melting down today, however the RSI on small time frames is quite low again, so an alternative will be posted in case we rally.
코멘트:
possible, but not probable idea - regardless I think we eventually come down to 3800 next week. If I'm wrong I'll update
코멘트:
ES is also at pitchfork support with bullish divergence. If you are day trading, watch for another whipsaw up and then down like yesterday.
코멘트:
there are conflicting signals on the charts and it can go either way. please be careful.
코멘트:
potential channel here as well. if they sell the open, watch for a quick bear trap
코멘트:
for bulls, this is a buy area - pitchfork support
코멘트:
starting to look like a bear trap, possible the alternative is correct. RSI was hinting at it.
코멘트:
SPY found support at it's pitchfork as well, right now I'm leaning toward this, another whip saw before the bigger move down to 380 area
코멘트:
choppy as all hell, I still see this (as of now) as an AB with C coming to reach 3990 area.
코멘트:
perhaps a better chart to watch is qqq which is clearly in a pennant. It will run hard one way or the other once it breaks
코멘트:
QQQ 5 minute - worth watching for both bulls and bears - will determine the direction for the day and maybe into next week as well.
코멘트:
q's appearing to breakdown here, could be a strong move
코멘트:
very difficult to decide which way this is going to go, q's are saying breakdown, spy is hinting at a rally. Very difficult, so I'm saying short and will stop looking at it today. Either way I think more downside comes next week. Good luck and have a good weekend.
코멘트:
ok now it looks clearer - probably this for another B wave before the bigger C down. Chop till drop. if they complete this today, it's a bull trap.
코멘트:
soin the end they DID rally and it looks like the B wave of this ABC is done. If true, C begins monday Note that they ended the week below the 18ma (I talked about that in the video)
코멘트:
2 hr rsi was showing bullish divergence this morning at support, that's why I was wary of a rally. Now those smaller time frame RSI's are reset again, although they could go a bit higher before the C wave starts. I'll update a new chart this weekend now that I feel clearer on what is happening. Have a good weekend. This post is now closed.
코멘트:
this is what I expect, the rsi has been sufficiently reset for a fall now. If wrong I will update. I didn't have time to post this weekend but will try later
코멘트:
so far this looks good for a short, but I expect a bounce from the trendline. A break of the TL would be more bearish. There's nothing impulsive here just yet so it could just be another correction in a further uptrend. Good luck.
코멘트:
so far so good for bears. No volume yet, but right now if it's correct the high from today should hold.
코멘트:
Uneventful day. We're trapped between the 50 and 18 weekly below and the 20 above. If they break the 50 this week, the lower BB on the weekly chart is still my target. Right now that's a big IF.
코멘트:
Good morning, currently futures is looking like this to me. Possibly the consolidation is over.
코멘트:
another tight range day, tech again outperforming to the downside. We are still above the daily 18ma but below the weekly MA, nothing has been decided yet.
코멘트:
we're in the same resistance area as before again. Right now we are over the 18 weekly. A weekly close above it would be bullish, but I'm still thinking they will close below and this resistance will hold, which means I expect a sell off into Friday. However, it really could go either way at this point. The chopfest continues.
코멘트:
as of now it looks like spy is going to the pitchfork boundary again - around 404 on spy and maybe higher. If they sell hard overnight we may have an abandoned baby pattern. tomorrow are important numbers (again) -
We have two more trading days to see if the 18 weekly ma is held for the week.
코멘트:
good morning, we're at previous price resistance and the daily BB.
코멘트:
spy will open at it's pitchfork boundary and daily BB.
코멘트:
one more high to finish an ending diagonal looks likely
