Next Support Level Being Tested The key support level identified in our trading plans published on Wed., 12/07 - and, reiterated on Thu., 12/15 - at 3900-3910 has been decisively broken down, and the index is now testing the next key support level around the 3825-3835 range. Our models are indicating a range-bound trading while the index is trading within the...
We have been watching this setup since Oct & Nov but it was held off by the wu-tang double bottom bounce and the nearly 20% move off the lows. Keep eyes on the markets here for a flush. Historically significant crossover as I have pointed iut in past published videos and charts with huge potential for extreme downside pressure. DXY holding the 103 support is...
Good morning all. As we get ready for today's trading day we find price is consolidating in our minor wave 4 with ultimately one more poke lower towards the 3830 to 3800 region. Technically, this micro wave 4 can be done so I have indicated that with an alternative purple 4 on the below micro chart. This is an alternative if price breaches 3855 without moving...
After a crazy, news heavy week, I expect price to begin bullish, and end bearish. Next week, we have the Consumer Confidence, GDP, and PCE releases. It will be interesting to see if we do in fact see a santa rally to finish the year off. In ICT fashion, I expect the high of week to be made on tuesday / wednesday.
Pay attention to the very real possibility that the current GAP will be filled early this week as price attempts to find a base/bottom after last week's selling. I expect moderate volatility and a change of trend as we move closer to Christmas. Initially, we'll see some moderate downward price pressure, then we'll see a shift upward near the end of this...
Currently the S&P 500 can be seen in 3 views. I have a primary view and two alternates: First, the yellow path - my primary. After the FED comes out today, I think it'll cause a pullback in the market, but it won't be what everybody is expecting. I expect the pullback to complete a small correction from the top and pull back to around 3880-3900. Bears will...
Friday saw the futures contract continue to come down from the CPI spike to 4180 with a close at 3872. That turns out to be a loss of 7.5% in 2 trading days. My primary analysis is we’re in a corrective decline that will take on a 3-wave shape...this decline only being the “a” wave. It’s my primary expectation that price will bottom in this “a” wave possibly as...
Green indicates Bull Thesis Red indicates Bear Thesis We have seen a rejection from our well-respected channel that began at the start of 2022. Best Case Scenario (Bulls) Dip to lowest point around 3800s, then retest previous highs of 4180. Best Case Scenario (Bears) Dip to lowest point around 3600, then slight leg up towards 0.5 fib around 3800, reject 3800 leg...
We see continuing with Daily One Time Framing Lower. I'll remain bearish if we RTH opens below 3885. If we'll have Christmas rally, 4060 will be tested going to 2023 But if only $ES breaks above 3906 $SPY $MES $SPX #OrderFlow 🙌 CME_MINI:ESH2023
This last week, markets initially rallied on the release of the "cooler" than expected November CPI (Consumer Price Index) — only to be smacked back to reality on the comments via Federal Reserve Chairman J. Powell during the December Interest Rate Decision (FOMC) meeting this last Wednesday as "higher for longer" is the communicated pathway forward for the FED...
Price is up to a big confluence that had the gravity to get it here. It's up to the Chartmojo Unwound Neutral Cloud, The space between 50% range and avwap. Also there is a big resistance trendline wth a volume shelf just above and poc just below. There are traders on each of those components and additional confluence players involved. That means more traders,...
I’m supposed to be off the desk...but it’s just easier to update this way, then answer the barrage of DM’s. Looking below at a zoomed in micro count. Wave 3 has so far come right into the 1.382% Fibonacci support area of 3884.25. We’ve poked slightly below that and that’s fine. Ideally, we would anticipate an ABC of minor degree to get up the 1.0 area a...
$NQ $ES are holding the daily BFs that have been supported for some time now, a break of the levels here would be considered a change in structure.
Now lets see if it closes on the lows (bearish into tomorrow) or will continue push higher (bullish into tomorrow open)
You may not feel like a "tribute" but make no mistake, we're all competing in the SPX hunger games now. With The Fed having concluded it's last FOMC of '22, it would appear they're are more factors at play for prices to decline, than rally . One of them being, tax related selling. Therefore it appears momentum is ( or has ) shifted and the bears may start to...
I got short Globex using a BEAR PUT SPREAD !! Here's the video with the explanation ...
TP1> if we manage to Trade/Bid above MAIN POC 4078, we can test > 4108 > 4141 > 4186 > 4207 > 4221 TP2> if we Open/Trade below MAIN POC 4078 > we can test > 4054 > 4035 > 3995 > 3980 > 3960 > 3934 > 3914 (LIS - Bulls Trapped) Volume Profile 12/14/2022 - Unfair High 4091 (Below Y High) FOMC DUMP, and no BUYERS. Volume accumulation setup > It is forming since...
Markets are digesting the Fed rate increase and consolidating in an uptrend. Watch for Flag support near 3930~3932. Bias should still be BULLISH right now. Protect your capital as we move into end of year trading. Don't get aggressive with trades. Follow my research.