mproger

mproger

Watch for a break of the downtrend channel. Wait for a bullish breakout on other MJ stocks. Trail stops up after the break. Bullish daily divergence on PPO/RSI.

mproger

Short Spy on a break of the rising wedge. Cover at first support, or hold on for longer bearish drop? Either way, 294 looks good for a pullback to support.

mproger

Watch for a quick drop to support around 294 to start, possibly more downside.

mproger

If SPY successfully moves higher to the top of the wedge , this pattern will be confirmed while putting in bearish divergence in the PPO and RSI (RSI not shown but it is there as well). Be ready for a minimum drop back to the August price range support.

mproger

Apple pennant on the hourly and daily has been squeezing for a while. Watch for the break this week, direction will depend on other heavyweight techs and S&P if they break the trading range.

mproger

Spy today has built a bearish rising wedge pattern. The breakdown of this pattern would most likely park us on support.

mproger

This could go two ways here. We could reject the bottom of Wednesday’s gap, or enter the gap and possibly fill it up to the next resistance at 293. Stay Nuetral unless we enter the gap today.

mproger

Watch for waterfall selling when QQQ breaks trendline support. Same trend line can be dram on a tech sector XLK chart.

mproger

Yesterday’s super bullish day was wiped out all the next day , Wednesday. Be ready for waterfall selling as these levels are smashed through.

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Futures dropped down but needs a little more work to warrant more short trades

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Today’s candle formed an inside bar stick. Buy above the top line, sell below the bottom line.

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VIX has stopped cold at resistance today just where it stopped in may. With hourly bearish divergence in play, a possible short term counter trend drop might occur...

mproger

The bearish rising wedge, descending volume and indicators (all in the pink) show a bearish picture, watch for a possible ‘sell the news’ on the fed comments this week.

mproger

The S&P, with pretty overbought conditions in the short term, has formed a bearish rising wedge. Watch for a breakdown to the 281 support if broken and possibly a much larger drop if 281 is broken. Short term bearish RSI divergences in play also.

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SPY looks good for a possible bounce (to 280) even with the QQQ sell off today. The oversold readings and the falling wedge help solidify the bounce with a breakout of the wedge. Note-SPY bounce will only occur to full measured target IF QQQ and tech hit their selling climax. Otherwise it will be another sell the bounce event. This should be a bounce within a...

mproger

SPY at another inflection point. Possible short-term long setup for a gap full bounce. We will see if it can break 2800 support this week back into the box of death. It will be interesting to see if this break will cause a total meltdown, or create a similar pattern like Nov. 2018.

mproger

QQQ, If confirmed, will fall to first support.

mproger

If the flag is confirmed, look for a sharp drop to the first support at $60.0