Going to attempt a different approach in the commentary to be as simple and direct as possible.
The dudes and dudettes who run this Casino had a whole bunch of Whales at the Sports Book.
Said Whales (and Money Managers) were feasting like the Chicago Bulls with Jordan and Pippen.
Win after win as the rooms were filled with 90% pure Oxygen.
Cocktails were...
Difficult to know where are you going, unless you are aware of where you've been.
The Chart above has a Long-Term Count (LT) and an Intermediate-Term Count (IT).
Presently Price has moved into the Long Term 5/5 after the February 2020 correction
@ 4/5 via a 30% Correction.
We resume the Bull Market into 5/5 (the FInal Rise) and moved through IT Count 3,...
I am looking at Fib extension level 1 around 3990-4000. the downtrend has its 1st leg down, now the second leg started and may have at least 2 sub legs down. 4000 also a daily gap that never got filled.
Level 1.618 and 2 are also interesting levels.
If the market did go to level 3, I will be all in, which I do not believe will happen this year unless...!
The S&P500 futures do not look well at all...
Weekly chart has "hairy tops" that indicate failed rallies, and the candle body is engulfing last week's candle body, ending the week very close to the weekly low. Bearish momentum prevails clearly. supported by technicals below.
Daily chart has a clear 55EMA failure, a second failure no less. The technicals are just...
IF the downside takes a full quarter then March is a possible bottom if not and a bigger retracement is formed June OPEX bottom etc. If Jan 24th low is breached then we can quickly assume 4119 and 3993 area will be a possible bounce. Slide below 3620 will indicate more downside.
I’ve been calling this for MONTHS, first I called crypto and then said the market will follow.
This is it everyone, all indices are forming head and shoulders, rising wedges on all larger time frames. This will be largest market crash of our lives.
Everything is set up to perfection, the charts, the economy, the global tension with Russia. It’s being put onto...
For dear life.
It broke through this trendline on the 45 minute chart and then stick saved it back above.
This is important as it is a line that was built up as a support line from the January 24 lows.
It is very important for bulls to keep this up and not break to the downside. It is equally important to not test this trendline too much, because the more that it...
Although the Asia session in the S&P 500 was down during the European session for the S&P 500 the market began to rally until news about a possible invasion of Ukraine by Russia could happen at any point in the market collapsed closing on its low. Stock markets hate uncertainty. Commodity markets love uncertainty. I am not looking for another large day down...
Another wild session, another opportunity to suggest that you learn how to use RSI to find turning points, and perhaps more importantly, stay away from the drops that keep on dropping.
In this short video, I revisit the same concept from my past 2-3 posts, which is how to use Relative Strength (with the correct settings) to identify potential reversal points in...
hello o/
potential change of trajectory in the indexes as of today
in my previous post i discussed the idea of us having reached a significant top \ the potential to see a move down to around 4100.
we ended up double topping \ backtesting the same 12 year level i was eyeing for awhile now. if you seen my 12 year count on spy, you'll know the significance of this...
Good morning Traders,
Market took ALL the news move back yesterday, just to turn around again and head lower. We went all the way to the bottom of the range, and have bounced back into the middle.
I would expect a wide swinging chop fest today.
Yesterday we got another rejection from our Key area and with no further upside inventory sold off. Today we have Globex inventory short and set to open under T+2. We have 4497.25-4494.75 as our PM Resistance and 4479.75-4475 as our PM Support. On the downside holding below PM Support leaves the doors open for moves lower to 4465.25-4460.25, 4447.25-4445, We have...
Today ES showed us what kind of whipsaw can be expected in a B wave: overnight market was holding pretty well, but slightly higher than expected CPI report spooked the market and ES dropped 70 points within an hour. It then spent a little bit more than an hour and reclaimed almost all the loss. RTY even made higher high. Followed by a seemingly routine pullback,...
Hello and thank you if you are a regular reader 🖖 Welcome if you are new to my daily publication... 👍
Publishing this post on a daily basis helps me avoid distractions and sets my focus to be fully in line with the now in the marketplace.
Knowing you read me keeps me accountable and forces me to be objective in my analysis which helps with my own trading emotions...
