It's been quite a year so far for the US equity markets.
$ES $NQ $YM
Since the beginning of 2022, we can see the S&P 500 has been steadily trending lower until mid-June when a near-term low was created.
In approx 45 days from the near-term low, the price was able to return to a key area of the market structure located around 4300, which has been followed by a fairly aggressive move down.
I believe we could see the market return into the green box (at minimum) before beginning to look for evidence of further bearishness.
Relative price points would be 32750-33050 for the Dow Jones, and 12850-13050 for Nasdaq.
In the future I expect the near-term low to be traded through, so it will remain a bearish target once potential opportunities are identified.
$DXY will also be a key indicator to analyze as we see further changes in monetary policy.
Stay safe and be diligent during these volatile times.
$ES $NQ $YM
Since the beginning of 2022, we can see the S&P 500 has been steadily trending lower until mid-June when a near-term low was created.
In approx 45 days from the near-term low, the price was able to return to a key area of the market structure located around 4300, which has been followed by a fairly aggressive move down.
I believe we could see the market return into the green box (at minimum) before beginning to look for evidence of further bearishness.
Relative price points would be 32750-33050 for the Dow Jones, and 12850-13050 for Nasdaq.
In the future I expect the near-term low to be traded through, so it will remain a bearish target once potential opportunities are identified.
$DXY will also be a key indicator to analyze as we see further changes in monetary policy.
Stay safe and be diligent during these volatile times.