I think we're about to break the support zone of 4100 in which case it should be a swift move down to 4050 area and maybe lower. 4200 is still the goal in my mind, but a few days or week lower makes sense with the patterns I'm seeing.
Good luck!
Good luck!
코멘트:
good morning, market opened at the target zone of 4130-4140 area. I think it's an objective short here, but above 4160 and it's wrong
코멘트:
looks good for bers, stop is the morning's high. I expect either the red or green path -
코멘트:
there is a possibility they try to break the high from this morning only to reverse it. Hard to say, right now the green path is playing out
코멘트:
breakout or fake out - my guess is the latter but everyone needs to be cautious here.
코멘트:
so far the line held, I think it goes lower for the day if not I will update.
코멘트:
potential breakout, I'm still suspicious but if they hold above the line after any retest, it's probably going higher. The banks are rallying, and helping the market today.
코멘트:
higher move after they held. We are at resistance here and the smaller rsi is stretched, but we could keep going to 4200 + now.
코멘트:
spy and spx cash gap fill, mind time frames rsi are getting reset higher. It's a breakout but will it stick for the week? that's the question right now...
코멘트:
I should have paid more attention to the 2hr rsi which was showing hidden bullish divergence. I saw it, but I was paying attention to the pattern I thought was there. They filled the spx cash and spy higher gap today. The 2hr rsi is now at previous highs with bear divergences. How we close the week will be telling. If we reverse and give all this back tomorrow and Friday, then a move down has started. This kind of pump has happened many times before only to give it all back in a day or two, so let's see what happens.
코멘트:
4hr rsi could go a little further, 4200 makes sense but it doesn't have to - numbers at 8:30 might push it up there....
코멘트:
up for today is likely - small rsi lower time frames already oversold on futures.
코멘트:
possible structural trendline and doubletop area.
코멘트:
one more stab up into close is possible but I think we're about done with this part of the rally. I expect a pullback tomorrow.
코멘트:
we're now in the stop hunt area - 4200+ probably by close
코멘트:
코멘트:
QQQ above previous high but now at resistance - stops taken out surely.
코멘트:
spy to gap resistance
코멘트:
ok so we got to 4200+ and probably took out some stops. The bear divergences are even more now, so I would think the pullback begins tomorrow. Over 4250 and something else is happening.
코멘트:
down to the weekly BB next is my guess - more sideways.
코멘트:
good morning, there's a gap fill possibility at 4220 - maybe it goes over it, maybe not. Powell speaking at 11am. Lots of bullishness in the sentiment all of a sudden "bears need to apologize etc" we're still going sideways for a year. Put/call at it's lows again.
코멘트:
30 minute rsi suggesting one more high
코멘트:
market is waiting for powell, I still expect higher. "like a dog waiting for dinner scraps"
코멘트:
no idea what powell said, but it looks like a reversal. However, the hourly rsi is already very low so I expect a bounce. Higher highs still possible but less so at this point.
코멘트:
one could try a short at the trendline, around 4200 no guarantees it will work, but worth a shot.
코멘트:
they haven't broken the trend and the small time frames rsi is still very oversold, which is why I'm suspicious that one more high may come. One more high (if it happens) would also be a shorting opportunity, not sure if it comes today or not, but better to err on the side of bullishness with the way the market has been.
