Both discussed in the video. The SPX resistance level of 4340 is an area where an objective short can be tried. It may go higher but I don't think by much. Oil is almost done consolidating for a bigger move to the upside. Possible cup and handle target would be $120
Good luck!
Good luck!
Note
no selling yet - QQQ looks like it wants to get to 372, then we'll see.... Note
OIl still consolidating. Note
to me the count looks like this - sideways B and we're in the middle of C another wave up on C makes sense but not too much higher. The whole correction looks like WXY Note
false breakdown on oil - to take out stops I assume - may breakout today. Note
Good morning, we may have topped yesterday, I'm not sure. PPI this morning and FOMC minutes at 2pm so it may be a wild day. I'm watching this channel, we are now on top of it, back into it would be bearish but we could go back to the top of it again. That retest may be a short opp. Also strong support at 4340 should not be ignored. Note
OIl looks to be breaking down, so it should be a strong move down from here unless they save it soon. Note
the channel could also be like this - in which case, they may sell it here at 830. Note
2nd stab at channel, short opp Note
Oil double bottom - may reverse here - over 86 and it looks better for bulls. nothing decided yet. Note
watch for a potential break and fail. Note
price is compressing with low rsi on small time frames, a breakout and a higher high is certainly possible into 2pm fomc minutes. Note
SPX appears to be in a triangle, or something like that - probably into FOMC minutes at 2pm. Note
looks like a tradable top, a bounce with the fomc minutes will likely get sold, Note
RTY coming into a support level. Objective long especially here I think. Still cold be more upside in this rally. Never underestimate the buy the dip crowd when it works. Lately it has. Note
gap at 4400 level on spx cash still not filled, could be a target if a rally sticks. Note
should continue higher to fill the gap on SPXNote
Note
back to the channel by end of day. It could be a trap - note the hourly bearish divergence here. We'll see tomorrow.... Note
nq resistance area Note
us oil gap fill, not sure what to make of it I got stopped out. Note
IWM was weak today compared to other indices, sometimes a leading indicator. Stopped at it's daily18ma Note
IWM still has not made it's target of 165 (head and shoulders) i think it does by November. Note
us.econoday.com/byweek.asp CPI today at 830Note
market keeps pushing against the channel. A break above with CPI and continuation into 930 (to take out shorts) is possible. usually these kinds of patterns have a "blow off top" moment. I do think today the market will turn down regardless of how high it gets first.Note
soxx back to channel resistance Note
qqq to 372 area - channel resistance Note
ES (futures) suggest 4450 area as possible target. Note
15 minute rsi too low again, expecting higher Note
after open I still expect a short squeeze, RSI is hinting at it. I could be wrong, but here it is. Note
looks correct, Note
current count - Note
support level here - if it can hold it probably goes higher. Feels like a bear trap - again. Note
lost support, looks like the top may be in. test of that 4376 - 80 level may hold it back. Note
we have an expanding channel here - which may prove to be the bottom before a final rally. Just best to be careful. Note
this channel is acting as support. one more high would not surprise me in the least bit. RSI extremely oversold on small and mid time frames Note
q's gap at 376 area, may be what's driving the tech move. Note
resistance of 4380 still holds. if it breaks it's bullish. Note
secondary resistance here. so far looks bullish but it may stop around here. Note
secondary channel structure reached, but it looks like it's going to crack. Note
if they break the channel (blue) any test of it is an objective short. If they hold and test the yellow trendline which held earlier, that now should be resistance. Note
ok we're bearish Note
Larger structure still looks like a channel. Wave 5 down starting i think. Note
coming back to test the channel. I'm not sure what's going to happen here but they will keep everyone guessing into the close I'm sure. Above 4370 tomorrow and it's going to make another high. Note
how the day ended - Note
New Video - I will update there - enjoy 
Related publications
Disclaimer
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.
Related publications
Disclaimer
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.