Futures sold off last night, but the rsi is starting to get somewhat low on smaller time frames. We are currently under the 18ma around (4k) and close to support at 3940, so a small sell off at open may be bought up quickly. I expect they will try to recapture the 18ma today and ultimately fail to do so. Main target is still 3900 and they could just sell straight to that level, but a bounce first would make sense to confuse traders. Good luck!
코멘트:
potential bear flag takes us to 3900, so maybe no bounce. Personally taking some profit at open and letting the rest ride either way it goes.
코멘트:
Regardless of bounce today or tomorrow (I do expect some fighting first), SPY target is the 18/10 ma on the weekly chart - currently at about 390. Strong support
코멘트:
hard breakdown, getting close to 18/10 weekly cluster. Taking some off the table.
코멘트:
also close to daily BB, a bear flag in this area would make sense.
코멘트:
SPY 389 area strong support, many are looking at this I'm sure.
코멘트:
qqq support also close
코멘트:
potential structural support if 3900 doesn't hold
코멘트:
2 hr hidden bull divergence, it may reach the orange trendline but taking a few longs on spy - very slowly - for a bounce, not much
코멘트:
not expecting too much of a bounce - spy 392-394 maybe tomorrow or monday, then lower
코멘트:
structural trendline reached
