Es1

Pullback coming here.. 1 , 2 , and 3hour over bought on oscillators. 4 hour candle completely outside Bollinger bands.

1st target - 4160

2nd target - 4135

If we bounce in the area of 4130 I expect it's forming the head for a Head and shoulders

Use my levels for reference

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15 min chart ..
Rising wedge...
Look for a flush

May play games and pop to 4200..
Target still 4160

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Fell out of its wedge and chopped....

Looks like that chop has formed a H&S.

You can see H&S also on the 1hour for

RTY (Russell)
Ym1 (Dow)

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I like ES long to 4147.. if it can break that 4160..

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3 white soilder candle on spy
3 black crows on VIX

Should have 1 more hour pop before profit taking EOD

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Spy 1hour... the pullback is cool , most rallies aren't V-shaped; they come in the form of bullish pattern like the double bottom late last week

Possible scenarios going into tomorrow,
I don't think we'll break 408 Before FOMC

1.We could rally up to 414 (White trendline)then sell.

2.We could rally up to 414 , breakover and target 418..

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Don't blow funds trying to scalp short this... if spy breaks 407.50 it's done! Until then things are still oversold and there's a high chance of a bounce. If you want to position yourself for a short wait for thing to recover more

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Here's the vix Cci on 1hour..

Each time it tagged that blue line the vix sold off ..

Simple logic is not to short if the vix is dumping ?

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ADP non farm comes out Premarket tomorrow.. like I said before, it's rare to see a V shape recovery. I'd be more inclined to see a double bottom if market does rally.

Bearish case, a retest of 409.50 or trendline

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Last update guys.. I'll be closing my Spy calls out EOD. Still swinging Xom..

✌

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Sitting below trendline and 1 hour 200sma.

Break above and the next targets are 4175 and 4206

Reject and flush and the targets are 4135
And 4118