very bullish inventory that is retracing some, and any pull back that remains above 3084 will be very bullish, however unless we breakout hard probably more low volume choppy day time grind. This is a over night market not great day trade market I mentioned some time ago to be leaning bullish on most of your trades and I will stay with that idea until we should not.
over night is inside range but short with poor structure so a sideways chop is possible if not probable. a move below the prior day low could see a decent test of some lower untested areas and still think 3065 as a bull/bear line. a break above the red top should see the ATH tested again.
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!
over night is a bit long but inside yesterdays action so consolidation until the red zone breaks. A bit of a gap close would not be surprising but this market has been unbelievably strong and could continue. Will be looking for impulsive moves to be able to take action against, without any type of directional commitment will probably sit on my hands.
ES has moved into the top distribution and we will see what it has, before this move it was balanced in a lower distribution. The cross over point is 3044, so think this is the level we could see active buyers. Above 3051 i see a target of 3060 area. Now if it moves to the lower distribution then target is either 3036-38 or 3033 going to see what is the push...
Overnight created acceptance at the top closing price and then moved back to the balance area over the last 3 days so the test will be can it gt back tot eh higher distribution and on to 3060 pricing. Or do we chop in this area between the red zones. A drop below the first lower blue target could be the beginning of a nice retrace lower test. As of typing we...
2:00 interest Rate decision fro FED, most likely will be sideways chop til that time. Play Safe!!! Above 3046 The first target I have 3055 Lower targets are marked as always with the blue lines, and the orange line are old accumulation and distribution areas so worth watching. Will be doing very little to maybe no trading prior to 2:00 the action is not often...
The idea of this chart is to summarise the most important aspects of what we can see on SPX -We can see the full structure since 2018, with all the inner movements -The main structure is the Upper and lower trendline of the Channel (white lines) -The upper trendline has been tested 4 times, all resulted in a huge bearish movement after that -Currently, the price...
Keep in mind FED tomorrow and often that takes big movements out of the market, however this market likes the up side so will watch the top of the red zone close for break and test entry. If we do not break then the red zone chop is my primary idea. however a decent drop will provide some good targets for lower prices. today will depend entirely on how the...
Over night move has pushed to new highs and is balancing at the top side of Friday's action indicating it wants to move higher. In the smaller time frames we have had a little bit of rejection at the top so this 3030 level is important to the up move and should be watched close. I will be looking to see what happens on any test of lower levels and the test of the...
We have been trying to catch this Bearish Movement since we start observing weakness signals of the Current bullish movement -We have an ascending channel (solid white lines) -The price tested 3 times the higher trendline without being able to surpass the zone -On MACD we can see a huge Divergence -We can see a second channel (the yellow one) which shows the...
The S&P is trading in a complete balance inside yesterdays action and the top and bottom of yesterday should be viewed as support and resistance , however the red zone could provide that S and R also. until we move out of this red range I will be trading the inside back and forth.
Overnight up move that is trading in good balance. I will first off be looking for a pull down and stalk a long trade for any attempt to move up to 3020 area. Opening strong down move could change my mind and have me looking for a down trade to the bottom of the red zone and then into a choppy session as we keep seeing. The past couple weeks of choppy day time...
Use this as a guide to develop your own setup -Currently, we can see a Wedge pattern (Weakness of the Bullish Movement) -The Wedge pattern was formed on the upper trendline of the Major Ascending Channel without being able to break it (Weakness of the bullish movement) -Now we saw a first Breakout of the Wedge pattern and right after that the formation of a flat...
nice overnight balance zone that is big enough to get some good consolidations trades off from inside the red zone. The first couple of blue lines are my break out targets. I get the idea that bottom may have been found but only time will show me if i am right or not.
Added to my shorts around 3013 as the bullish euphoria was kicking it, pushing it higher in to Brexit WCGW. Hit the top and now I'm targeting 2904 to see if it holds.
Over night up move creates a long set up and will be looking for a open drive or a 3005 area pull back test, that is my primary focus. will also be watching for a trading action day. Will see if I can get some updates out today after the (hopeful )action starts.