Big reversal after a big day! Left with an inside day, inside week, and just dancing around the prior month's highs again. Plus the daily 8-ema! Now, we will see how today's high/lows hold for tomorrow and maybe, just maybe, the bears will try a little harder now that price is back below the channel mid.
Full circle from FOMC day! JPOW said the exact same things and back up again. I guess that is all the market was looking for after a choppy day yesterday. In the meantime, the monthly chart still dancing above last month's inside candle, and the weekly chart continues to plow up.
Overall, choppy day, but some quick whipsaw action is what we had to work with. The H&S pattern we discussed last week played out in the gap down, and now we will see if those levels get retested or if the bears really want to step up and reclaim the market.
That was quite a week! The monthly chart is still above the prior two candles, so we will see if the bulls can hold or if the bears will work on a test of the recent pivot levels on the weekly and daily. Certainly the daily upper shadow which was a H&S pattern intraday could leave things suspect into Monday!
Good times after the Fed yesterday! Now, we will see how things hold after $AAPL, $AMZN, and $GOOGL earnings. Either way, it was a strong push over the post-Opex zone which we have been discussing, here and on Bloomberg!
JPOW pushed it over the last two monthly candles! That was the bullishness that the market needed to show signs of breakout potential. We are seeing strength in tech names after earnings, so we will see if that continues tomorrow to keep pushing this thing higher!
End of the month! Amazing, and still in December's range, but the bulls tried to push into EOD. Was it window dressing, or are they front-running a potentially bullish FOMC day tomorrow? We will see if price can get and stay above December's highs! Either way, don't fight the Fed!
One more trading day left as the monthly is looking like it may close in last month's range. The bulls got very close on Friday but, as we mentioned, that upper-shadow (last minute rug pull) left things suspect. That said, there was a big gap down today and some grindy downside action as we have one more day until FOMC too!
Even though the month is still in the prior month's range, the bulls had something to say this week, closing over last week's highs, but the bears got the last word in on Friday, with a quick rug pull into the close. Big week next week with FOMC Wednesday, then the titans of tech reporting near the end! Get ready for some fun! HAGW!
Despite being stuck in last month's candle, the bulls put on a show today staying above the prior week's high, and offering some momentum out of the post-opex range! Let's see how the price action looks on Friday! Fed next week!
Still stuck in that monthly candle, and the bulls pulled things back above last week's highs, to continue this attempt. The "whoops" reversal on the daily gap down was impressive, especially since it was on an inside candle, which is often bullish, so we will see if there is any follow through tomorrow!
Still stuck in the prior monthly range, and it did not help that the NYSE was having major issues this morning. That said, price is started to test last week's highs again, so the bears will want to push back through there and take out yesterday's daily candle. We'll see if there is enough motivation before FOMC next week!
Despite price still being stuck in last month's range, the bulls gave it another try and pushed above the prior week's highs giving some solid price action this morning and overall to close the post-Opex candle. Using this range on the daily is now key to help gauge sentiment into the rest of this Options expiration period.
Despite the monthly chart stuck in the prior month's range, the weekly put in a surprising lower shadow! Nothing like price to change sentiment - which is probably still in disarray. That said, a bunch of "momentum" Morning Star Reversal candles, so we will see if there is follow through into more earnings next week, including $TSLA-aaaaaaaaaa!
Price still stuck in the prior month's range. So far $NFLX earnings seeing some whipsaw action, but nothing to move the market so far. Now, it is all about Opex (Options Expiration day) tomorrow, so we will see what kind of shenanigans are in store!
Despite the inside monthly candle, there was quite a reversal on the weekly so far. The daily finished with a Bearish Engulfing Candle off that downward trendline area, so we will see if the bears are really back to claim these levels! Join us tonight on the TradingView live stream to discover more with your trader friends!
Still in the prior month's candle as we started out a short week. The weekly and daily showed an upper shadow today but not a lot of volume. $NFLX earnings this week ahead of Opex on Friday, so there still may be some shenanigans yet!
Well the bulls won the week! Continued to close green over the prior week's highs. Still, the intraday action chopped its way up and could be related to the fact that price is still within the prior month's range. Another holiday week next week, so we will see you here Monday night on the live stream!