There is so much I don't like about this rally (I have addressed this a lot in the past) but price is the ultimate arbiter. So, it is not my nature to be closed minded. Am I ready to go long? No...but the market doesn't care about my readiness. Let's recap my trading: 1. I am short -25 4300 calls at $7 that expire End of February. I raised $8,679 in...
Here is a video update for my followers. This video is in support of the recent SPY updates I've shared over the past few days. Follow my research. Learn how my analysis skills can help you prepare for the biggest price swings. These are not the same markets as 2008 & 2000. Learn to adapt to price trends and become a better trader. I'm trying to teach you to...
The period of market activity following the November CPI pump has been both a choppy grind and hard to get a handle on. I had personally believed that the market makers would run 3,700 long ago, but that we wouldn't set new lows. Turns out, after much deliberation, they ran 4,150 instead and dumped it back to 3,800 but still haven't taken 3,700. When trading,...
Even though my SPY Cycle Patterns suggest today is a RALLY day, I see the SPY has extended to an upper resistance channel (near $414.80) and may pause/slide sideways/downward a bit today. I do expect support near $412.30 to act as a floor for any contraction. I would expect the SPY to hold above $412.30 and attempt to rally higher IF this price level is tagged...
It's hard to get excited about something you don't like. That's the best way to describe this pattern...I don't like it. But moving forward the below becomes my primary micro count in (black) as I believe it has earned the benefit of the doubt. I have an alternate count in (purple). However, I'm tracking this final move higher as impulsive so all the target...
Major confluence amongst major levels of resistance, DXY moving up, VIX reached a low point of support and starting to bounce. Only time will tell.
Youtube still wants to short it... but we come from a Monthly Orderblock. Shorting is DONE! Now the Buyside is target. They will create the "bullish breakout" and all the Buy stops get taken into the market. This is when everyone thinks crash time is over. But do you think economy is good? This displacement that they will create above the highs will trap everyone...
I need to look at where we are pattern wise....but whereas I have been looking for the perfect pattern lower into the 3700 area...I have to come around to the fact I'm wrong. I will not fight price. I have not added to my position but still own my 4300 calls short for EOM Feb. I'll have a more in-depth update in the morning. Any pressing questions please post...
I will recap the Thought Experiment in another post...but what is most timely is 4132-4136 is an area I may add to ES shorts....but on a very tight lease. Stay Tuned for a later update. Best to all, Chris IMPORTANT NOTE: SOMETIME BETWEEN MID AND END OF FEBRUARY I WILL ONLY BE POSTING ONCE PER WEEK HERE ON TRADING VIEW. I WILL ONLY BE DOING WEEKEND...
Have you been following my research? Maybe you should stop to consider what is possible with advanced predictive modeling solutions. For example, here are my SPY Cycle Patterns for the past 20+ days - and 20+ days into the...
The Biggest Bull Trap I have Ever Seen Fed will crash the market on FOMC and NFP this week buckle up
Breaking above the $410 resistance level could be a very big sign that bullish price trending is building momentum. Ultimately, I don't believe the SPY has enough momentum to get above $440~450 in 2023 - but I could be wrong. I do believe we will move into a bout of sideways congestion after Q1:2023 - and slide into a period of complacency. Near the start of...
Let's do this early? Huh? I'll be able to sleep in tomorrow morning...yeah!!!!!!!!! First, Let’s revisit some things for new readers of my work. On occasion I will make a detailed, but educated, guess on the direction of the markets strictly based off the charts. Typically, these would be done on days of perceived high volatility due to some news or event...
Review: Sunday Globex opened right at key level of 4084-7, attempted to get back over but failed trapping the buyers and yesterdays end of day supply above. We sold got the move lower which broke 4061-56 and found buyers at lower support area of 4046-42 pre market. At RTH Open we corrected short inventory back to our Resistance area of 4084-77 where more...
I have been fixating on 3600 as a possible low coming in March for a few reasons - 1. weekly and monthy BB are close to each other at that level (the October 2022 low was also monthly and weekly BB support) and 2. the monthly 50ma is near there as well. I tried a few more pitchfork ideas, and right now this is the one I like best. If we get to the median line by...
I guess that's the big question...Have we Topped, or does this rally continue? Although we end up in the same place, the green b-wave (is the black count) it just supposes we topped already and the ending diagonal will eventually become invalidated. I placed that b-wave there ONLY because we have a full pattern as of now. But not to get ahead of myself so far...
This morning the ES is declining just below the ideal spot to continue to support this ED pattern. Last night I advertently type 3990 for ED invalidation. Its 3980. 3980 represents the .884% retracement area and last fib retracement and a very uncommon area used by Elliottitions . This decline should ideally hold the .618% - .786% zone. Nonetheless, if for...