If we look on the daily we are right in the middle between the trapped supply which we started selling out from on the 5th and the Position/trapped shorts below us, today we had an indecision day as we still have plenty of supply above and now buyers below. Im thinking possible inside day tomorrow or for the least inside Friday range, thinking we could hang out...
The recent bounce in the US major indexes and Bitcoin is likely very close to completion right now. I would urge everyone to pull profits and prepare for the next big wave (likely LOWER).
Fibonacci Price Theory suggests this trend is still bearish and Bitcoin would have to rally above $34,150 to start a new recovery phase.
My analysis suggests more selling is...
The ES Daily time frame is in a down channel. The
market hit the bottom of the channel and found
support. The market is now pushing bullish towards
the top of the channel price point 4465.75 about
+1,229 ticks above the market. It will be a good
idea to turn to the one hour time frame and to
look for long ideas in the buy zone.
mornin,
i've talked about this idea for awhile.
it did go a bit deeper than i had originally expected, but it's all good, that's what risk management was created for.
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a wise man once said,
you know who loses the most amount money in a bear market?
bears.
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you know who makes the most amount of money in a bear market?
wolves.
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watching for a move up...
Friday we opened up right in the Key Resistance area of 4084.50-4077.25 and got continuation of short covering through out the day and were able to break into our next range and over next resistance of 4143.75-4137.50, Sunday night Monday morning we count as one Globex session in which we pushed the price higher but were not able to reach next resistance area and...
ES can push here for another test of 4205+-
Im exiting all my longs on that double tap (if that happens) and will add to short.
The next week range is 4045-4200. Breaking either level will bring 3900 and 4300 levels respectfully next.
SPX on the other hand could of topped as of Fri close.
The May 3, 2022 FOMC Meeting minutes was released 5/25/2022, which is another opportunity for Market Makers to swing price around violently and take out liquidity. We knew the obvious target would be the Buyside Liquidity at ES 3982.25. This level was the only major liquidity level in the nearby area. Also, after taking Buyside Liquidity price would continue going...
So far this correction on the S&P has been extremely orderly and makes a lot of sense. A lot of things are very similar to the 2018 correction, especially when it comes to how the market has moved. The key differences in the current environment are that the Fed hasn't raised rates as much, inflation is a lot higher, debt is a lower higher, the economy is in a...
The ES Daily time frame is in a down channel. The
market hit the bottom of the channel and found
support. The market is now pushing bullish towards
the top of the channel price point 4465.75 about
+1,519 ticks above the market. It will be a good
idea to turn to the one hour time frame and to
look for long ideas in the buy zone.
Break of channel is usually followed by a new low in the price action trading world. Expect a reversal here in the next few days.
The bar is also up against the EMA which can add to the chances of a reversal.
PCC remains in Gamma Mode for leveraged traders.
NVDA Guides lower but beats lowered EPS.
The Depression is well advanced (Recession, laughable but Media will persist).
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It will take a monumental, effort with the following Macro Data Ahead...
THURSDAY, MAY 26
8:30 am Initial jobless...
Today we broke into 3971-4030 range and came back in, N period bounced right from tomorrows T+2 High area of 3954, will we be able to stay above T+2 until tomorrow and get back over 3971-76 and maybe get more buy ins to take the upper stops and test the top of that range at 4025-4030 which is also a level we came through a few times already that hasnt been tested...
There it is.
Not much to say... this is six hour time frame.
Huge gap down that needs to back filling.
This takes us back a whole month.
FWIW:
The area we are in currently in is the point of control of 2021 - keep that in mind
Posted the chart below in October - chart attached. 3908 that was the most traded price all of 2021.
See the chart.
Love...
Respecting the downward channel support line so far. Started taking profits on some hedges and adding to longs. Break above 403 and will add more risk long. Sold puts this morning as downside may be capped for now but that doesn't mean we necessarily rip up .
Tough market to trade that's for sure !
You can clearly see that Energy has been the leader, and is in fact the only reason why ES isn't below 3600 right now.
Consumer discretionary has taken quite a beating all year, likely due to higher input costs. Worth noting is that consumer staples appears to now be joining consumer discretionary in this downtrend.
Utilities are behaving as the sector should be...
3450 as a Level becomes relevant should Price Breakdown.
Should change present a counter-trend short term, we're amenable
while acknowledging the possibility, the probability will need to develop
this week.
Clearly, end of this week and 8 down would be a telling indication we head down
another 8 to...
