AlSmith22

AlSmith22

2-23-25 Last Thursday was an implied H1, late in a wedge expecting another leg up, a low probability buy. Bears sell aggressively. Price is in the middle of a tight TR, expect disappointment and failed BOs. Bulls are stuck at higher prices and will scale in looking to get to BE and entry, so sellers above. Bears that are short will scale in looking for a...

AlSmith22

Bear sell signal in the middle of the Trading Range and just above EMA. Many bulls will buy at the EMA, which has been support since November 23. However, context is good for a MTR. Market is at the top of a Spike and channel parabolic wedge. After wedge completion, expect Price to retest the start of the channel. This Friday is month end, adding to...

AlSmith22

2-19-25 S&P Weekly chart Jan 13 week, trap reversal. Two strong bars and pullback needs a 2nd leg up, in progress. Bears have NOTHING to sell. Bears had a chance with the Feb 3rd week, gapping down, but still closing bullish. Bulls will buy everything and pushing hard for targets above. Still, price seems labored and days see bulls taking quick profits.

AlSmith22

Likely to form a period of consolidation, 2 more legs up followed by larger reversal. Monthly chart looking like a mature parabolic wedge.

AlSmith22

Tight channel on the daily chart of the S&P. All-in-long, buy for any reason, except in need of a pullback. Likely trading range to form, pullback to be bought and trend resumption.

AlSmith22

S&P is all-in-long, in a tight bull channel, buy for any reason, but now at a point of likely exhaustion after a possible climax. Price testing the breakout point from the last FOMC day and big selloff. Bulls will take profits here and bears will look for a foothold to sell. Since the market is in a large trading range, odds favor a pullback. If price...

AlSmith22

Likely retest the breakout levels of the S&P and enter into a trading range for the remainder of the year.

AlSmith22 Updated 

The idea is still valid. The market needs a breakout to begin a large leg 3 upward.

AlSmith22 Updated 

Updated idea for the formation of the new Bull channel to the upside.

AlSmith22 Updated 

Looking for the formation of a new broad bull channel for the ES mini. This is what may happen...Stay tuned.