SP500
We have 2 scenarios for price action.
This is not the time to Long or Short. We are in a critical area with a lot of uncertainties. I did not expect the price to continue bullish.
If we take a close look at the price action from where it started the Bull rally, we can see price is very corrective compared to the previous Bull rally indicating a lot of hesitation, price was mainly pushed by retailers when
the news came out.
Price was pushed up hard when CPI numbers came out from the FED. Indicating Retail traders think inflation is normalizing. This is a wrong conclusion very wrong, inflation takes years to come out of.
The economy is always lagging and when Company's economic reports are coming out, we will see a lot of red numbers. Remember it is very expensive to lend money, we have never seen a rate hick this huge in decades.
Pay close attention to the 2 scenarios on my Chart. When a Dealing range gets broken with a Daily candle, expect the price to continue bullish or Bearish.
We have 2 scenarios for price action.
This is not the time to Long or Short. We are in a critical area with a lot of uncertainties. I did not expect the price to continue bullish.
If we take a close look at the price action from where it started the Bull rally, we can see price is very corrective compared to the previous Bull rally indicating a lot of hesitation, price was mainly pushed by retailers when
the news came out.
Price was pushed up hard when CPI numbers came out from the FED. Indicating Retail traders think inflation is normalizing. This is a wrong conclusion very wrong, inflation takes years to come out of.
The economy is always lagging and when Company's economic reports are coming out, we will see a lot of red numbers. Remember it is very expensive to lend money, we have never seen a rate hick this huge in decades.
Pay close attention to the 2 scenarios on my Chart. When a Dealing range gets broken with a Daily candle, expect the price to continue bullish or Bearish.
Trade active:
We are so far in a new bearish momentum to the downside. I expect the lows to be taken.
However, it is possible to trade both ways even though we have bearish momentum.
However, it is possible to trade both ways even though we have bearish momentum.
Trade active:
Stopped out. New trade entered Long.
Trade closed: target reached:
Trade active:
SP 500 Follows the plan. We did not break further down in to a new Daily range area. We consulidated with a range. However we do have some liquidity above an old Daily range I expect to be taken within the next couple of weeks. When the cycle period ends, price will continue further south.
I expect a price range to around 4000 before price return to lower price.
I expect a price range to around 4000 before price return to lower price.