10.31.20 Comparing Expanding Triangles on the S&P and Dow Futures
Hello Folks, Here is a video recording take for the planned play book for SPX and NAS for today. Brickbats welcome :) Key levels for SPX 3255-60 Bullish above bearish below NAS 10960-11000 Bullish above Bearish Below NAS Alternative - Hold of 10820 for a rotation on upside
Anything can happen but this week was a big week for me and trying to figure out what the market wants to do. There are just so many signs that say down I felt like I needed to post an update. Let me know what you think in the comments!
If you look at the chart we have mixed signals.
I caught this nice Long on the Micro Es Futures.
In this video I'm laying out my Bull case using Elliot waves. It seems like there's a probability of it moving higher before we see a correction in the Es. Let me know what you think! Thanks for watching.
Bought CALL in last minutes holding for weekend, so, what will happen?!!!!!!!!!!!!!!!!
MCD, GOLD, AJG, BLL, CLX, ES, KR, MKL, NEE, S, NEM
GOLD, MCD, AEP, CAG, CMS, D, DUK, ED, ES, NEM, NOC, PPL, SO
Some good news out of china overnight send the market up with a little spike. We are ranging near the value high and wold expect this market to continue in this direction,but we may need to dip into value first. I would continue to be long, and although there will be some short opportunities, make sure you are not overstaying them!
Looks like the video didn't reveal my drawings as it appeared to during recording, so I've posted the weekly chart here for a zoomed in picture. An unsustainable trend typically results in consolidation or a reversal in said trend. The Month of September will be critical to the US markets, as can be plainly seen in the S&P 500 Futures chart. Bulls have gone...
Status quo for this market, continue to move higher and then balance. This is telling us that we are unlikely finished moving higher just yet. I would'nt expect to see a reversal on this low volume from the overnight session.
Markets continue to trend up and we had a nice orderly auction yesterday, falling into a previous balance before bouncing. I would highly advise against going short here, today is options expiration and while it may work to be short, it's a low probability play.