Yesterday I noted that we ended with a hanging man candle under the daily 18ma. Under the daily 18ma, the bias is down and with a hanging man candle it may be a hint of a reversal. The paths I'm thinking are possible are shown. I personally still think we will end the week under 3700 and the weekly candle will look like a false breakout, but I will not short until I see a break below yesterday's lows and a retest of the channel. The Market was aware of the channel yesterday so it will surely be aware if we break below it today or tomorrow. A higher high today should be treated with suspicion as it may complete the 3 wave move up. Good luck!
Note
if we get under the channel today, I expect a number of stops to get hit, however they likely will try to retake the channel. For adding shorts, that retest of the channel is a more ideal entry than here. Still could go higher today, but this reversal looks convincing as of now. Daily close will be important. Note
AAPL under support level, BUlls trying to hold on to it. Note
Note
SPX is fighting hard to keep uptrend. AAPL bulls as well not giving up. I may get stopped out there, no problem. If SPX can start getting over 3780 we may reach 3815 by EOD in which case I will be suspicious of the last high but I will wait to see how tomorrow looks after 8;30 economy numbers Note
neither side is winning and it may be like this into EOD, Transports are showing relative strength and some think of DJT as a leading indicator. It's possible the market does nothing much until after 830am numbers tomorrow morning.Note
SPX, consolidation - usually breaks towards the trend it started with - in this case down, but it doesn't have to. Note
Triangle broke, objective short here but bears need to be careful of a false breakdownNote
test and rejected so far Note
daily candle now starting to look like a reversal after hangman candle. The redder the better for bears Note
If we retest the channel again it will likely break as most stops from yesterday's bulls will probably be there. Note
3700 needs to break for the selling to intensifyNote
side note - TLRY earnings tomorrow and it's suddenly up 13 percent. Not sure what to make of itNote
I guess this news just hit cnn.com/2022/10/06/politics/marijuana-decriminalization-white-house-joe-biden/index.htmlNote
Nice solid red candle on futures after yesterday's hanging man, Tomorrow it needs to break below channel under 3700. 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.