ES and YM MFI overbought, sorry for the late post, woke up a bit late
Note: RTY is scrolling down from overbought but NQ has not gone overbought yet....
SPY about to launch off the 2hr...chart!
chart self-explanatory. We are looking for a bounce just like the past bounces, we are slowely rising... should close big in the next few business days. Long here
Best Chart you'll see for S&P 500
As you see the long term trend of equally linear lines accross the market. It shows that there's a top-end of 4k+ to be hit for the top or rather for big institutions to unload on the top.
I envsion this top reaches summer- early fall.
A great long here until this is a great move to do. Market has dipped last week and only for...
Huh.... it is sorta tracing the last drop after all, expect more whipsaw.
Generally speaking, during a big tank week like Asia had, Fridays wind up being an up day just because shorts will cover to lock in profits.
Bullish for tomorrow, but I wouldn't hold any long positions over the weekend. Not worth the risk, plus teh overlay says down again anyways.
Orderflow pivot from yesterday RTH @ 3929.25. We pivoted short in the evening and rotated through some low volume areas from earlier in Monday's RTH. Continued downside pressure could see us repair the lows around 3902. Current short targets would be 913-11, 903-901, 888-885. Upside above the pivot, looking for 48-50, 59, 70.
ES MFI hit oversold, normally that's bullish....
Not really sure though, and I'm not feeling very bullish, so probably staying out. Keep in mind MFI can go oversold for a while.
Bond yields are down so NQ is up, but I'm still expecting a whipsaw week. Might be easier to short and overbought condition or look for an obvious pattern latter in the week.
Busy...
I am expecting a huge move up this week to between 4020 - 4070.
Previously I correctly called the top and the exact bottom so hopefully the win streak continues this week.
I am going to be buying calls 30 mins into open or on pullbacks. Expiration this friday. Could also continue into next wednesday.
Let's go!
So I was correct on the sell trade this week.
Price bottomed exactly where I previously mentioned.
Now is a great time to buy the dip. Next week is going to be good!
It appears as though the sp500 is going to drop like we predicted but not to the 3830 range but instead to the 3870 range.
The bounce higher is going to be quiet significant.
I have already shorted today at market open with options expiring tommorow. Then tommorow I will switch to buy for expirations that end this week and next.
Summary: Short now to 3870,...
We bounced off the .38% perfectly for the completion of a mini 4 which coincided with a retest of one of the channel trend lines. Looks like next stop is 4004-4034 for a small wave 3. It'll look like a rejection off of those numbers when we reverse down for another wave 4 which could retest the same channel trend line we bounced from today. After that we'll start...
Even with stim pass, the algos aren't able to get past this wedge. Lot of bulls are going to be trapped up here.
Although we did break out of this desc. broadening wedge on the daily, so any shorts here gotta be tight stop lossed. I'm shorting from 3909 myself.
As you can see gold has broken out, and I took a position after 1st 4 hour candle.
The break out happened on good volume. This is a very simple set up. It doesn’t get much easier than this!
Written with assistance of Grammerly software
Overnight is balanced but below yesterday's value range.
I will be watching the overnight range to see if a test of
prior days high or prior days low is going to be in play.
Any move past these test levels is a strong indicator of
the day move to the other side of a multi days range.
Opening action will tell me lots about the possible
unbalancing trade.
The values...
