4180-4160 is a likely target before a relief rally. Not sure if it would be a bottom, but a bounce would likely occur there.
If they get there by Monday's open I would be very cautions with the amount of support in that area. A surprise rally could occur to reset the RSI for a day or two....
I may do a video about other markets in a day or two.
Good luck!
If they get there by Monday's open I would be very cautions with the amount of support in that area. A surprise rally could occur to reset the RSI for a day or two....
I may do a video about other markets in a day or two.
Good luck!
코멘트:
Good morning, some selling overnight but nothing major. One more low looks probable right now then I expect a bounce.
코멘트:
top of channel here, i think one more move lower but watch for breakout in case it doesn't....
코멘트:
bounce higher first before lower is likely -
코멘트:
bunce, now this "should go lower" stops tight for a day trade
코멘트:
exaggerated move, I still think it' s a trap, but I'll wait
코멘트:
this is what I think is coming, but if they get much higher then the low is in. A rally to 4270 is quite possible as I mentioned in the video, so caution is necessary.
코멘트:
if they can hold the channel and go higher, the low is in. If it collapses, I expect another low.
코멘트:
bulls came in where they should, now they have to get over the last high. Decision time.
코멘트:
here's another possibility which could fool both sides if it were to happen.
코멘트:
as of now I think this is the likely scenario -
코멘트:
we're at a resistance, I expect this to hold back price. Still looks like a C is next - in other words a strong pullback, then higher to 4270.
코멘트:
unfortunately i think I've mislabeled the move. This whole move looks to be part of an A wave. One more high is probable if that's the case
코멘트:
if the A wave is correct, we'll have a B wave for a day or two and then a large C up, possibly to coincide with Thursdays numbers or tech earnings.
코멘트:
5 minute chart of this move. Next high should be it for A if it's true. B could just go sideways for a few days as well, will be tricky the next few days...
코멘트:
qs at resistance
코멘트:
not done yet, probably ramp up but start selling before close.
코멘트:
qqq rising wedge, a pop out is expected, then drop
코멘트:
qqq pop!
코멘트:
spx trendline reached, probably a lot of stops hit on the last move
코멘트:
A looks finished. B could go sideways but my guess is we'll get a move down to entice bears to short it.
코멘트:
IWM is weakest today, another low here tomorrow likely - watch to see if IWM holds relative stregth against QQQ and SPX in a day or two. It often leads reversals.
코멘트:
we haven't reached the trendline channel on SPX so another low here tomorrow to 4160 area is still possible, I don't know about probable, but possible....
코멘트:
if we are going to get that large C up. we need to get a bounce overnight into tomorrow and then sell. Sort of like this. It may not happen. see you tomorrow!
코멘트:
Good morning, we're getting that bounce for a possible B wave. I do think today we go lower but the temporary low may be in for now. A test near the lows is more likely. These is the channel I'm watching currently
코멘트:
PMI is at 945 today us.econoday.com/byweek.asp
코멘트:
overall structure I'm looking at as a possibility.
코멘트:
if this is a B wave remember B waves can be triangles and waste time and money trying to figure out their direction. It would make sense to have something like that into Thursday's numbers, so keep it in mind.
코멘트:
we broke a trendline on the 1 minute chart, a bounce at open to that level or slightly above offers an objective short entry. If we are choppy the next few days, take profits when you have them.
코멘트:
got over it, bullish on any retest of hat line. They are going to test the highs most likely
코멘트:
maybe this -
코멘트:
if I'm right that B wave is done here, tight stops in case I'm not.
코멘트:
back to trendline, they could rally up again but if it breaks and they retest it, it's a short.
코멘트:
holding on so far, a lot of traders seeing this
코멘트:
15 minute bear divergence should play out, they went to get stops, and it may go higher but to me this is a short setup. Target 4220 area
코멘트:
they are shaking the tree as hard as possible to get shorts out, every sell down bought up again - hilarious
코멘트:
lots of stops above the last two highs, my feeling is they will take them out before a sell off -
코멘트:
my entry is where the stops are.
코멘트:
5 minute rsi needs a push up, just keep watching that if you are day trading.
코멘트:
this could go higher but it hit the target area i was waiting for, now we need selling
코멘트:
support is below, they break that and it will sell, right now it's still holding.
코멘트:
this "appears" to be the count for the end but it means nothing until they break below support
코멘트:
support break
코멘트:
spoke too soon - probably another high, but maybe not. If so - this
코멘트:
breaking down trendline is first target
코멘트:
almost there, but it may break if so, it offers another short entry on any backtest.
코멘트:
trendline reached, should act as support and we get a small rally
코멘트:
there's a channel on SPX a touch of the upperline is an objective short and the target is the lower. If they break out of it it's bullish. I'm taking the rest of today off, don't want to give back profits.
코멘트:
should get a bounce at the green line. I'll upload a new chart later today. GOod luck!
코멘트:
trendline reached. that may be it or overnight they break it
코멘트:
new video update
