Appears to be forming a pennant, indicators all hung up in neutral, price level is smack in the middle of the channel as well.
Complete guessing game as far as direction
Look at the expansion in the MACD /signal lines. We haven't hit overbought yet. If you step into a weekly chart and examine the last few major advances in the market before 'peaks' (2000 dot com bubble for instance), note that there is negative divergence on MACD and RSI well ahead of the actual peak. We've barely hit the base camp to look at the summit. Does this...
I use this ETF as an indicator of market sentiment more than anything. Notice the massive volume occurring in the past few days. Smells like a distribution. Won't be long before we see some major movement in the market. I'm sidelines with cash for now.
Hopefully you opened up a long position last Friday (see post linked below) or during the premarket trading session today. You would have got in at a good price and rode a massive bullish trend today. Based on closing price action, guessing most of you held on who did. Here's a look ahead this week:
The FinTwits are enraged by the price action today. Lots of fits...
Indicators all in the middle and no indication of tomorrow's direction.
ES and YM look bullish, NNQ and RTY look bearish. Leaning bullish for tomorrow and bearish for Thursday, but that's A COMPLETE GUESS.
I don’t know if I am to take this trade but I am thinking about it in my mind.
These be reason for possible reversal.
- downward wedge
- approaching intersection of wedge mean squeeze, mean price soon break
- RSI in oversold territory. As price approach intersection of wedge will be even more oversold.
- pice target top of parallel channel line. Also target...
Although it is a bullish falling wedge, the confluence of two strong resistances here should be a good risk/reward short.
DXY still up and TNX yield not hammered down enough today to warrant this amount of exhuberance.
Bear in mind, something absolutely crazy like a run up to 4020 can happen, so be quick to eat the loss if you short this setup right now.
So we hit the 380 target and now we are bouncing, this should be a very strong move higher potentially breaking the 392 level by (wed, march 3rd).
I didn't take the long because option prices were so expensive.
There may be a short next (wed, thurs, fri) when option prices are cheaper and reward to risk increases.
You can see obvious that ES long. I plan for hitting top goal and decrease positioning by 1/2 if hit. But watch close at slow hull as this will give some resistant. Exit here if it to seem price get stuck here. My initial thought of long come true. I enter on pullback at top of rectangle.
recent pullback not base on bad news(force new trader ,low exprence trade to inter sell) ,so dont fear, trend is very + and sp500-dow-dax will go up and break high soon
if you have sell you must 100% close it near fibo 61% 3770 and pick buy and wait to 4070
SECRET=when price is above daily Ema200(orange line) never sell ,looking for buy ,buystop on 15min last...
This is my planning. Below blue rectalangle go short and above we going long. Look at area of supports and resitanse and see it is toss up. I am out of trade until one of this condition met.
Double bottom divergence on RSI today. Looking at all the reversals from pullbacks before, this is an excellent time to open a LONG position in the SPY. Starting to see more of the same in my basket of stocks that looked pretty bearish the past few days. Loving that long term MACD trend line. Average volume spikes are not losing their intensity, but they're losing...
No futures buying at all despite MFI being oversold. It's like they turned the algos off.
Dipped into some EWZ puts because it looks like their currency is gonna tank. Probably should've reshorted XPEV, lol.
Hey guys, the sp500 is bouncing and we expect a final move lower today. Our last 3 ideas on the sp500 have made a total of 1700% return on our options. Stay tuned for these crazy opportunities.
I'm expecting a bounce higher into the open followed by a steep sell off. The sell off may continue into monday morning but basically today is your last opportunity to...
My original idea of ES going down to support area again valid. So if price below 4h time frame below yellow line I take entry with good risk and reward. Very much room to fall with out much support and what support there be is already touched. This weakens support (though some argue strengthen it I do not go by this assumption). See my initial idea on this trade.
NQ is almost oversold but ES, YM, and RTY are all still in the middle. Pretty good chance we get a bounce tomorrow because it went down so much today, but with the way the market has gapped down every day, there's really no point in holding calls overnight.
Staying cash and daytrading tomorrow if I spot something easy. WHy bother playing the gap when the...
