The dump earlier today was an emotional one. This is apparent from the big red candles going from the 0.786 level to the 0.5 level in 7 hours. It's investors acting on fear.
This, combined with the bounce off of the support zone & the 0.5 level gives us a recipe for a quick recovery. Those who sold off realise they're wrong, buy back in. Those who sold the...
With VIX sitting at 22.7 we had a massive spike on the SPX futures. My best judgment was $3328 - $3338 range will stop the rally but I was wrong.
I expect a draw back to the lines above.
This is my first first drawing I publish so be gentle with the kicking.
ES BIG PICTURE
ince Oct price has been moving up on low volume
High volume spikes on down months
Last 3 months have been bullish price exploring new ATHs.
Price Volume Traded showing divergence on monthly/weekly/ TF
On daily price is moving up
On 240 price is moving up up approaching divergence level - so expect a pullback if not reversal
I will need to see...
after a very strong selloff SPY has retraced and currently, the market is approaching a key level of resistance on daily.
On 1H chart the market is consolidating and coiling within a narrow trading range.
If bears break below the range, for us it will be a perfect signal of a bearish continuation and...
Price action played out as anticipated. It was an inside day. Overnight session appear to have just been a continuation of price action that had been disrupted by the tweets thereby creating some obfuscation of intent.
Overnight the downward action continued on good volume of about 330k contracts. VPOC established below yesterday and Tuesday’s.
I am expecting...