I don't believe the S&P composite index will continue dropping without more upside first. This is a short-term prediction and is also a reason why I believe bitcoin will bounce short term, as well.
Projected target path (blue line) probably won't happen, it's there for spectacle.
Market tanks when I go duck hunting, lol. Everyone knows the market usually tanks after FAANG stocks report earnings, this appears to be a pre-emptive tank. AAPL and FB flat after earnings too.
So I bought a handful of GM puts yesterday afternoon on a chart read (not so much an index tank play) since I wasn't planning on hunting today, decided to go hunting,...
There is no more bullish asset on the market than the Dollar, and to prove it I just say — it's the only asset for which 7 trillion Dollars were printed to stop the bull-case scenario.
Nothing close was printed to prevent the mega-bull breakout to anything anywhere. And Dollar just made small short-induced IHS which you probably pay close attention to because if...
Indicators hung up in neutral, futures whipsawed overnight, no direction indicated, stocks mixed.
I figured today wouldn;t be a good day to trade, but boy do I wish I had bought those BYND calls Friday, lol. Doing other stuff today, good luck.
Every dip bought off that selling volume..Proof we go up more
You will notice the huge volume spike into the sell which got bought off. Every spike in that volume was follower by market rise. It's consistent and has been the case all along. I'm longing pre-market /ES for the next wave up from the yesterday's dip
Futures up because China and Korea went full pumptastic, problem is that it gapped up and all futures gaps fill, probably after AAPL earnings as usual. Seems like the market tanks every year in Jan/Feb after AAPL earnings.
Couple of adjustments to weekly chart:
The low established today requires me to update my fibonacci low and this establishes new up/down targets. 👇
🎯1 - recap old hi 3860
🎯2 - 3879
🎯3 - 3904
🔑: 3836
⚠️: Further downside comes below 3806.
Leave some feedback below if you have any!
And don't forget to like and follow if you'd like more 👍
Some thoughts on $SPY/$ES_F:
The right-hand chart consists of 1month candles. I took the range of the 08 crash and extended it a few times - each box represents a full 100% extension.
November 2020 gave us what may considered to be a "blow-off top" - I saw this as an opportunity to extrapolate the uptrend established in 09. Whether or not this continues to be...
I'm going to hold my long till what I think is the top end for S&P 500
Per chart which is self-explanatory I see market going towards there '400' and maybe even past it if retailers continue to get fooled into selling/shorting.
MFI dropping fast, when it hits oversold we get a bounce. My gameplan is to take the easy money, flip my puts on open and take teh rest of the day off.
Sorry, a bit late with teh update, had to close the DFS puts I bought yesterday. Small profit because it was a small play but it returned 75% so that's decent.
Anyhow, ES, NQ, and YM MFI went overbought premarket, I expect the market to sag a bit here. Don;t really think it's gonna tank. I got other stuff I need to do today anyways. Made my beer money for teh...
S&P 500 new highs... New wave. Long here. Chart self-explanatory. Expect the unexpected. New highs comes new demand and with a new president that Main Street likes.
Long here
Overslept, lol. Still all cash.
Looks to me like MFI hit oversold and bounced. Not shorting anything until indices are overbought. Not really sure I want to go long on a severely overvalued market, we'll see.
Whipsaw, lol.
MFI appears to have gone oversold and bounced, but FDAX looks like it could go oversold Sunday night so gap direction could go either way. Staying cash and not looking at the market the rest of the day. Have a nice weekend.
Would have been a good day to daytrade if I didn;t have a dentist appointment
Sorry guys, I had a dentist appointment today. ES went oversold right before I had my teeth scrapped, lol. Bounced a little earlier than I expected because of the oversold condition, appears MFI is going oversold. Probably just whipsaws here then does up on Tuesday because the market always goes up on Tuesdays, lol.
Think I'm just gonna stay cash this weekend...
Market broke resistance off the trend highs. ATH coming!
Chat is self explanatory
Every dip bought
COT Report shows Short interest in "Leverged Funds x2/x3 short futures" increased, which shows market is banking on their covers
Bearish news on rising market, is just a fuel to make longs sell and/or people initiate a short into a loss or missing on...
