priceactiontds

priceactiontds

Good Evening and I hope you are well. tl;dr dax futures - Neutral. Bullish read was perfect and good for 300+ points. Now the air gets thinner again. Above 19500 longs are probably not a good trade since the downside is sub 19100 and upside probably limited to 19700 max. If market holds above the 1h 20ema tomorrow, I’ll try longs but if now, we could see some...

priceactiontds

Good Evening and I hope you are well. tl;dr sp500 e-mini futures - Neutral. All bullish targets are met for me and I will not long anything above 5980 anymore. Too early for shorts, wait for bears to come around with force. Blow-off top with 6050 or 6100 is not out of the question, so best to join on momentum or sit on hands. Next big points will be made to the...

priceactiontds

Good Evening and I hope you are well. tl;dr sp500 e-mini futures - Same here, 2 daily bars engulfing 2 months price action and market tested the upper bull wedge line for a new ath. We are close enough to 6000 that we can expect it to get hit, everything else would be a huge surprise to me. Can you short 6000? Not blindly, market mostly needs a double top or...

priceactiontds

Good Evening and I hope you are well. tl;dr dax futures - 1 daily bar to almost engulf 2 months of price action. The rejection above 19600 was strong enough to expect that the highs are in but I am not convinced. I highly doubt dax will be flat or lower while wallstreet is doing an early Santa rally on coke. I am much more bullish and expect 19000 to hold....

priceactiontds

Good Evening and I hope you are well. tl;dr Indexes - Who wants to be long into election day? That question pondered my mind couple of times today but here we are. Surprising bull strength. I said it was too soon for the bigger second bear leg down but today was also too strong for bulls at this point. No bigger opinion on today’s price action. Most markets...

priceactiontds

Good Evening and I hope you are well. tl;dr Indexes - Who wants to be long into election day? That question pondered my mind couple of times today but here we are. Surprising bull strength. I said it was too soon for the bigger second bear leg down but today was also too strong for bulls at this point. No bigger opinion on today’s price action. Most markets...

priceactiontds

Good Evening and I hope you are well. tl;dr Indexes - Most went sideways today and we got some marginally lower lows. That was decent enough to disappoint bulls who were used to BTFD for a long long time now. I do think some expansion of the current range is possible but I doubt we get a bigger breakout tomorrow due to US elections. Will the election effect the...

priceactiontds

Good Evening and I hope you are well. tl;dr Bitcoin - Neutral. Bears did good but I do think a pullback is imminent and could easily retest 70000-71500. This whole move is W1 of the next bear trend and any short with stop above 75000 is good. We will likely see 60000 in the next 1-2 weeks. comment: Bulls could spike this up tomorrow due to news but...

priceactiontds

Good Evening and I hope you are well. tl;dr wti crude oil: Neutral between 68 - 72. Market is in balance inside this range and for now no side has clearly better arguments for a bigger impulse. Market formed another nested triangle inside the big one. Which means buyers and sellers are in balance. Quote from last week: comment: Bulls actually managed to...

priceactiontds

Good Evening and I hope you are well. tl;dr gold: Neutral. Bears got a minor pullback from the ath but only printed 1 decent bear bar before disappointment again. 2720 is probably next big support and I see the market rather moving sideways and retesting the highs before a bigger move down and a break of the bull trend line. Quote from last week: comment: ...

priceactiontds

Good Evening and I hope you are well. tl;dr sp500: Bearish. 5730 was expected support and if bears are strong, 5800 stays resistance now. Expecting more sideways movement before another impulse down. Next target for bears is 5600 and bulls need a daily close above 5800. Thursday’s selling was strong enough for more downside but could also just have been...

priceactiontds

Good Evening and I hope you are well. tl;dr dax xetra: Bearish. Bears finally got some follow through lower and got near 19000. Next they want to keep the pullback shallow and get a second leg down to weekly 20ema around 18800 which is also where the next bull trend line is on my chart. There we will see if it was low enough for bulls to buy or if we have to...

priceactiontds

Good Evening and I hope you are well. tl;dr Indexes - October is behind us and markets closed at the monthly lows. Clear sell signal going into November, since this is an amazing bear breakout. Markets are now in search for a intermediate bottom to form a proper channel. Most markets are also at bigger support and we can expect some more sideways to up movement...

priceactiontds

Good Evening and I hope you are well. tl;dr Indexes - Many bull trend lines are gone for good. Bears closed at the lows and they desperately need follow through tomorrow. If nq won’t keep the markets afloat tomorrow and drops below 20400, we will likely see a big sell off with 20200 or lower. Dax looks done, clear break of the trend line, swing shorts are juicy...

priceactiontds

Good Evening and I hope you are well. tl;dr Indexes - Many bull trend lines are gone for good. Bears closed at the lows and they desperately need follow through tomorrow. If nq won’t keep the markets afloat tomorrow and drops below 20400, we will likely see a big sell off with 20200 or lower. Dax looks done, clear break of the trend line, swing shorts are juicy...

priceactiontds

Good Evening and I hope you are well. tl;dr Indexes - Mixed and still undecided. Not one broke out of their patterns today and I expected the breakout last Friday. Dax faked to the upside to sell off to the bull trend line again while nasdaq printed a strong bullish outside bar and is now near the top of the bull wedge. All patterns are still valid and the only...

priceactiontds

Good Evening and I hope you are well. tl;dr Gold - 2800 is close, nothing is stopping this. BTFD. I expect bigger profit taking around 2800. gold comment: I gave the 2800 target a long long time ago and we are close. Only question is, where do you enter new longs? We have a decent channel upwards where the lower trend line is around 2760. Market also...

priceactiontds

Good Evening and I hope you are well. tl;dr Oil - Gigantic bear gap with Globex open and market closed 370 ticks down or a bit more than 5%. 1h 20ema is resistance until clearly broken. Bulls are in a world of hurt here. 66.5 is the next lower target before we go for 65. Bulls need anything above 68 again. comment: Market has now went from doing 18% upwards,...