Spy

Upside target this week is 602.50 - 603.00
Spy
Over 599 and 603 comes .I think there will be push back around 602.. pullback targets at 602 is 599 and below that 595.
Max downside is 590 (20sma) below 590 and this was a dead cat .

10year gapped below 20sma Friday. Looks like it wants a pullback to support and 50sma.. I'll be watching 10yr at 50sma . If it bounces then market will flush and this channel will play out

Looking at Dow Jones and NYA
Both closed right at 50sma and top of Bollingerbands. If they gap up tomorrow price will be outside Bbands and will punish late bulls .. look for a retest of 50sma which should coincide a spy pullback at 602

Qqq
Over 524 and 527 is next up .. over 527 and 531comes

For the record, I'm still not in the "new ATH camp"...
The logic is this FEDs aren't cutting but a cool CPI will give some fuel for a bounce but what happens to the bounce when Jan 29th comes and Powell comes in Hawkish?
So that means the market has 9 days to make whatever upside move it will make but without pressure from yields the market will move on earnings and president Trump's decisions

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Banking sector

Up 7% in 4 sessions
Look for a pullback here this week after final banks report

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Wedge forming here.. price will get really volatile with the short range.
If we hold inside wedge then price will rally back up to 21,900 or 529 gap close

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Same Rising wedge here on ES
Price should grind to 6100 before flushing

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XLF...
Price too extended from it's 20sma
Financials will roll over in the next 2 days

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So Nancy sells AAPL and buys calls on and Chip sector pushes..
Now at 263 resistance here...
Over 265 and chips will be the gasoline on any market pump... But this area for the past 6months has rugged retailers.. if we close this week above 264 that would be bullish.. let's see

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I've seen the market when it gets on Its BS squeeze mode completely gap to the upside of these wedges but for the sake of hindsight I'm showing you now.. if this wedge does play out then we will close gaps from last thursday

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Good morning...

Here's a daily chart of spy with its 20sma moving average.. as you can see that price doesn't like to be extended more than 3% away from it's 20sma before a rubber band pullback once spy tags 606-607 that will place it in the radius for a pullback

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gapping up over long term resistance at 264.. price is outside it's Bbands so I think it will retest 264. I've noticed that the Japan Nikkei225 and Our chip sector moves identical. Below is a chart of them Compared. I think this is because of Softbank and it's tech investments in our market which makes that Rate decision tomorrow night even more crucial

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Gapping outside it's BBands . Price already closed outside.. most likely Cyclicals and financials pullback next 2 days

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I'm still short financials....
I knew the fawkery of tech would rear it's head.

Still 590 on spy before a break above 610

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$607.59
Last spy gap close...

4 gap ups since CPI ..

3 of them will be closed

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chips sector 4hour chart

sector

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Quick update..

Busy day for me .. didn't get to trade

.. pushe to my 20,000 target.. really extended here on most technicals.. what SHOULD happen next is a pullback to 19,400 breakout ahead of Interest rate Decision next week. This will affect cyclicals and financials the most

Dow Jones

Pushed a lil higher than my 44,300 target.. same technical read as NYA.. price should pullback to 43,000 over the next few days

10 yr

Like I showed before , 10yr falls below 20sma and tech rallies.. today 10yr gapped above 20sma and tech pulled back .. depending on what happens tonight 10yr will push back up to close gap at 4.800 or flush 4.500.. important for

ContraryTrader

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