Recap This week was another successful one for classical technical analysis traders. The week's movements were driven by a simple, textbook ascending triangle structure, which I have been discussing since Friday. I took a long position from 4420, which is now up over 100 points. This entry point was chosen due to its support of the large triangle structure. The...
Recap In last week's newsletter, we highlighted the rally from 4420 to 4500+ as one of the biggest point moves of 2023. The market had built a classic ascending triangle pattern with 4420 support and 4490ish resistance. This week, the market dipped to 4420 support, ran to triangle resistance at 4490 before the CPI release, and then broke out yesterday, squeezing...
In recent analysis on the state of the markets, I note that the notion that we're "in a bull market" is actually really dangerous, and how, if you really want to see healthy markets into the future, you don't want to see a new all time high print yet, because we're just too far over the trend: Nasdaq NQ - A Fundamental and Technical Warning Signal Moreover,...
Recap Last week, ES experienced a deep late-day flush from the 4467-73 target area, landing at the 4420 level. Despite a 30-point rally, ES has largely remained stationary since late June. This period of range trading, between 4420-4490, is likely to continue for some time, providing a level-to-level day trader environment. The Markets Overnight 🌏 Asia: Up...
A false breakdown has formed at the lower boundary of the H1 range. Accumulation-Impulse-Reverse Impulse-Accumulation. (Reversal design) Medium term deal. input: 4427 (on the test of the second accumulation) stop: 4407 tp-1: 4446 tp-2: 4485
Recap Last week was a testament to the power of simple technical analysis. We saw a fantastic continuation off the 4420 level last Friday. As predicted, we based under 4450 all morning, then ran to the 4467-72 target, then dipped. We broke out 4420 last week, rallied, then backtested last week. However, it's not quite "all clear" for new highs yet. The Markets...
I'll keep this brief. The area on the chart where purple 5 resides best counts as a 3-wave structure. Therefore, in my primary analysis, I am counting this as an irregular b wave that made a slightly higher high and now we should be heading into the 4370 area for our black c wave of 4. I have a purple alternative 5 on the chart because there is a chance of wave...
4400 remains to be the line in the sand. With CPI on Wed, the targets below are 4375-4350. Above we can test 4440 and over that 4450-4465.
Recap Yesterday brought about the biggest dip in ES since April 23rd, which was then promptly bought up. A three-day flag pattern with 4464 support failed, triggering the first short in over a week. The selloff ended at the 4420-25 zone, which was the breakout origin point last Thursday. This represented a fantastic buy opportunity and the low of the day. Key...
SPX was rather weak, though NDX rallied, DJIA sold off, thus SPX was somewhere in between. It dipped down to the 4431 or so price, did rally back up to PZ but that strong PZ held any further rallies, before it came down again on FOMC meeting minutes. The daily candle for SPX is somewhat bearish; could see a retest of the lows. Price opened within the PZ but had...
CME_MINI:ES1! Zoom out before you zoom in. You may find something you ca trade with. Your friend, the Trend. Trade well, trade safe
In mid-June the SPX Futures hit a high of 4493.75. Let’s examine the data points, the characteristics of the subsequent price action, and attempt to see if the SPX Futures Market topped at 4493.75. Since futures bottomed in October of 2022 at 3502, price advanced for 8 months so far has appreciated by 28.3%. With market analysts, money and asset managers, and...
Hello everybody! Today we will get the release of the inflation numbers, so I would like to give you a solid update! First of all, we are observing a gradual shift from bearish to bullish attitudes, particularly as the SPX is reaching the 4350-4400 mark, a target I previously highlighted multiple times on both Tradingview and Twitter. However, we must remain...
above green arrow when you see buy pinbar on 1h,4h,daily chart ,dont fear pick buy SL=pinbar low ok? If you have old sells,you must hedge them now ,Nasdaq upper target is 16000 even 21000(see weekly chart Fino 161%) advice=70% looking for buy,,,be carefull on sell=dangerous wish you win
- NASDAQ and ES futures confirmed a hourly downtrend i want to see it confirm on market cash open on QQQ and SPY to be more convincing - the size of this pull back will determine if we can short a daily lower high if its a shallow pull back then bulls are still in completely control
Weekly Analysis June 20 - June 23, 2023 During the previous week, NQ entered the zone of the daily Order Block (OB) and came close to testing the Mean threshold of that OB. It also entered the Monthly BB-. Therefore, this week, I anticipate a retracement to the 4-hour OB level between 15188.00 and 15094. For an ideal scenario, I would like to see a bounce from...
SPX flow from Friday is indicating 4400 as the flip point for this short week. Key word, short week. If 4400 holds, we could melt up to 4450 followed by 4475 then 4500. Now, 4500c and 4500p are both SHORT. So don't expect a break over. That being said, if 4400 breaks and we slide under, 4350 is the first target then 4300. Good luck.
Frankly speaking, the pattern that would make the most sense for the markets with the situation in the world at present is that the ATH on Nasdaq, Dow, and SPX are taken before the end of '23. However, there are a number of problems that indicate despite the extreme greed, bear capitulation, and bull euphoria this may not happen. One of the biggest fundamental...