SP500, SP500, Emini, ES / 4H Hello traders, welcome back to another market breakdown. SP500 has rejected a major level on the monthly and broken to the down side and now is testing the brekaout point. I'll be looking for a short postion around 4080 if I get a confirmition on LTF. trade safely, Trader Leo.
SP500 / Multi-Time-Frame. AUDUSD / 4H Dear Traders, I warmly welcome you to this free and educational multi-timeframe technical analysis on SP500 pair. From a weekly viewpoint, in my opinion, SPY looks remarkably bearish . A Double top formation with a previous high on the monthly time frame, and the downward trend has already begun as seen from last month's...
Wednesday 3.08.23 Review : Consolidated under previous Daily Support with a few attempts to break 3976-71 Key Intraday Support but we held within this 4015-3975 balance. Best trade was when we hit double top in E 11:30 Period, gave a nice trade down to Intraday Support, was thinking we fill finally have more supply to break and continue but so far that has...
If we don't get a higher bounce on es, chances are this head and shoulders pattern is playing out. This idea is invalid if we get over 4060 again, in which case the previous scenario (linked below) is playing out. I'm watching the daily 18ma at 4034, if they get over that level, a bigger bounce is likely playing out. If they stall near the 50ma at 4013, then this...
This is what may be happening as an alternative to the immediate sell off. Note the 2hr rsi, how low it is again. The end of the day may look bearish but with the RSI this low, another move higher to test 4100 is still quite possible. Support is 3990 area, Under 3950 and this idea is likely invalid. Good Luck!
$AAPL exhibiting weakness with a hard rejection this morning and acted as a strong supply zone over the past several months since Nov. I fully expect another leg down to happen as long as it continue to reject.
The last several weeks I have written about the move to the 3800 level and with the smaller chance of a direct move to the low 3,000 level right now. Clearly, there are people on both sides of the bullish/bearish equation and they’re not shy to share their support or disdain for my forecasts. I’m grateful for that, because that is what makes a market. However,...
Inflation will need more hikes. Probably bigger than 25bps I can tell you that:)
Monday 3.06.23 Review : Globex pushed us into the resistance area at 4061-56, RTH Opened on Gap up and buyers came in for continuation, we hit our upper early in the day and then consolidated below it. 4084-77 was our key area for continuation higher and we failed to take it out and showed weakness at it instead, until we built up enough Supply which gave us...
Hi Traders, This is my view for today on ES. First strong LONG reaction which puts me on a BULLISH perspective today. So 3960 could be a good zone to let the price re-aligning with the bullish micro structure. Anyway, the Macro one's tells me we're bearish yet and the strong supply zone on 4120 could be good for us. I remind you that this is only a forecast...
Friday 3.03.23 Review : Friday Globex consolidated at Previous Day High, took the stops at night and we opened on a gap up over Previous Day High in RTH. Failed to closed the gap and gave a push towards the upper resistance target and a move above it into the next Supply area. Monday 3.06.23 Prep : What are our options today, Will this move higher hold...
Since October 2022, we kept reiterating that the primary downtrend had not ended and that we were merely seeing another bear market rally. Furthermore, we were monitoring the market’s sentiment, which changed from “FED’s pivot” hopes (in October 2022) to a “soft landing” narrative (in December 2022/January 2023). However, in line with our expectations, weak...
After a wild week when we bounced cleanly off the 200DMA, backtest of the trendline andf it just went up with 0DTE flows going crazy. I'm thinking we trend up and then go for a liquidity grab lower. How low no one knows but I have my areas for y'all to reference if needed.
I think a bounce bounce to 4100 or more is coming as part of the larger triangle structure. RSI is quite low and the price action is choppy - like they are winding up for a move out of the channel. 4100 or more would certainly convince bulls that "all is well" and the uptrend WILL continue, but I don't think that would be the case. If anything, 4100 is an ideal...
3.02.23 Review : Globex broke 57-44 Support area and was holding under before RTH signaling weakness but that and 32-27 were important areas to stay under and break, RTH Open failed to break 32-27 then we got over 3944-40 and per our morning prep IF we hold 32-27 and managed to get over 44-40 and hold that opens the door for higher resistance target and we...
Copper is struggling at resistance. Often when Copper Struggles, so to does the S&P500. Copper can be ultra sensitive to the Dollar and yields, so watch it carefully as an economic barometer.
It looks like stocks bottomed today, but what is my evidence, and why would I say that? 1. This correction has been very orderly, and VIX has been going down along with stocks, which means something is happening. 2. Stocks have held exceptionally well despite rising interest rates and the DXY. 3. We have continuous liquidity injections by most central banks, and...
3.01.23 Review : Wednesday RTH Opened under 3976-71 which signaled possible move to our lower targets, we did do a full break of our 3957-44 Support area and tagged our target but did not see the full move down towards 3931-27. This is area of cost basis for size traders so we expect to see balancing action and buying around our Support areas, especially on...