Lets break down what we can see in Globex and in tomorrows session. Did we find temporary support, built a position under 3715-10 that we now have all the supply to run the upper stops, fill the Gap at 3723 area and fill push higher to sell our product there? Or did we find temporary support using all the people who piled in Short Thursday/Friday morning and...
Another ugly quarter so far with US Equities officially going into a bear market, an abundance of bearish sentiment, and talks of recession.
Price is king and with the nice downward channel it looks like we may get a relief rally this week (possibly into next as well) given :
- Reversion to the mean with price now well beneath the 30 day moving average
- RSI...
It's best to share Analysis.
Here is what one Trader opined:
"IMO....if we are truly in a mega bear market (which I think we are in) then we should see a bottom in either June or July and then probably a bear rally of 10-13%. I still feel that gap at 3900 won't clear until this mega bear market is over."
She's not wrong IMHO.
Yeah... it looks ugly, it has been.
Alex began warning back in September 2021 the
Distro Disco had begun.
The Riggers, in classic style, made another Pate
without bothering to feed the Goose.
Degens bought it up, as trees do grow the Sky.
_________________________________________
SkyFall was next.
And fall it has.
Jerry and the Kids @ the FED will be...
Yday we got our downside move to play out, we found buyers below our Key Level of 3671.75-3665.75 and got a push above it, in Globex so far we tested the level and were unable to break it which meant we are out of supply for time being and rotation back towards the upper levels. Currently Globex inventory is 100% long from our close, we are inside ydays range and...
What a Globex we had! Wish I stayed up to trade it, I took one trade in at 21:30 Short at 3827 and covered at 12 when I saw we still had buyers at 3809.50 area, I did not stay for the pull back and re-entry at 3825.50-3820.25 but that was a beauty short just sold off smoothly level after level. Yday after the close I mentioned the way we closed and trapped people...
Target confluence is at 3587ES, very deep but can get there in no time, crazy market!
This will turn today/tomorrow, otherwise cycles are inverted, crazy times!
If anyone is riding the futs, just trail it and keep it rolling on the spikes again and again till it stops working
I will leave it this the way it is.
Should squeeze here an now or we get back to the lows again.
3710 becomes the first maj resistance (held the other day)
The bottoming timing window is today or tomorrow am, very close for a significant relive rally, ideally back to 3900 gap
closing above 3710 today and tomorrow will be a good sign of the temp low being in place!
good evening peoples.
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i'm not very convinced that a bottom is in, but it's possible that it is.
one key level to watch from here, and it's overhead at 3876.25
push above it, and we will see an expansion to 4000~4100 fairly quickly.
reject, and 3600 is the spot we will gravitate to.
FED Day! What will the market give us today? Yday we were not able to hold our Key Support of 3764.75-3760.50 as we expected because we were under T+2 low and had people trapped from Globex session above, we were able to get below and accept in lower range and we got the test of lower levels down to our next Key Support at 3714.75-3709.75 and as mentioned we...
Monthly charting similarities between the SPX, at months end, April 2022 vs. the NDX during the dot.com bubble burst.
All time high price-check
Monthly gap/s created after the break out from the 4-5 year trend line-check (purple line)
Monthly closing below the horizontal support to make it look like a confirmed H&S pattern on the monthly-check (orange...
Looks like a big rally shaping up to end the month of May, but June should be a full-on bear fest, at least to start the month. Major Wave 1 down should end in the 3200 - 3500 zone. Likely, we'll rebound from there into the Fall of 2022.
Major Wave 3 will likely project down to the 1500 zone. Major Wave 5 will likely end in late Spring 2023 with target...
Yday we saw Key Support area of 3764.75-3760.50 hold on the first test, we did make another attempt at it before close and were able to reach next level down so we found acceptance in that lower range. At the close wholesale took in the supply under 3764.75 and used Globex to drive it up and sell higher, Globex inventory was mostly long all night until we found...
We are back at the support where we found buyers before last months FOMC move on the 25th. Shorts covered, supply ran out and we were able to pick up a position and took it up over 4084 to sell. We spent time in tight range selling product and filling orders until we sold it and had no more buyers to take us higher. Question this week is will we see buyers step...
Last night before the Globex open I posted weekly overview with important levels to watch and that most likely we will get more downside being we are under the Supply and buyers in the area where we closed Friday might not be as responsive this time around. 3880-72 was our area to watch to the downside, Globex opened on a gap down and right in that area which gave...
