Just a guesstimate when considering last two meltdown. Each was steeper than the last, and each plunged further in shorter amount of time.
Considering the Fed, it's likely
S&P Futures are seeing a large sell-off, after putting in a double-top through a longer-term wedge pattern. Current price action has broke the large, ascending trend line first created in in 2012; subsequently, that was the last year the S&P saw a 10+% correction.
Reality sucks when key data points deteriorate. Housing data is continuing its downward path, while...
The emini is looking weak in this area. This consolidation suggest more downside. We will look to get short on any smaller time frame bounces. The stop will be just above the resistance area. If we break 1957 we could invite some new selling and squeeze the weak longs. PUKE'M
Elliott Wave Principle is a 'theory' based on a line chart. Sometimes I forget about that.
Yellen, Scottish vote, option expiration , $BABA IPO - this week will give us a hard time yet.
thepatternsite.com
Isn't it amazing that mediocre economic data can't make a market move but a crappy iwatch can turn the market on it's ear. That's what the markets have become.
The SPY is trying to break but no clear break down yet. We will watch the ES1! during the globex session for possible entries. Though we are expecting a bounce before any break.
Friends,
A quick and dirty way to forecast your way across the blank screen is to make use of very simple tools, such as Fibonacci forward projections of its significant 1.618 extension.
In the case of the #ES, here we are dealing with a high-probability geometry, derived from a Elliott Wave's pattern, in which we recently noted a Bullish Flat.
Hope this...
Please see chart notations. Several aspects of the E-mini to watch. Small gap to fill to the upside will be fulfilled around 1968-1970 handles. Large gap to fill to the downside would be fulfilled at 1930 handle. Price is respecting the support/resistance barriers offered by a pitchfork fan draw from the LMA swingpoints. Price is currently contending with the...
Click here for the full video and report: dunn.ly
Today I caught a beautiful short on the
e-mini S&P 500. While most investors
were panicking, my trading students and I
were cleaning up shorting the e-mini futures
in our trading room.
The idea was shorting the secondary move
after the 20 point gap down before regular
market open. You can't see it on the...
ES looks weak. Breaks below 1959 and It's a put . However, renko shows a perfect uptrend. Looking at a steep correction at most, not end of a rising market.
