All in the video, just wanted to update where I think we're going in the next few days to week. Right now I think SPX over 4600 is very probable, that would hit the monthly BB and daily together. It would also give room for tech to have a final squeeze up to it's gap area....
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lots of economic news tomorrow at 830 and Friday as well. us.econoday.com/byweek.asp
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Good morning, the C wave on tech started overnight. Hard to say exactly where this ends, so be careful. I prefer collecting shorts slowly during the day. SPX also now near it's monthly BB target.
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Weakest index should be IWM, followed by SPX and NQ. TEch should stay strong for a little while longer, while IWM falls more than the others.
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C wave on SP -
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one more move up after open is probable on tech and the market. To me this would be a shorting area. Good luck!
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qqq gap area almost filled.
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spx 15 minute rsi very low, I expect one more high or doubletop. at least be careful here.
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looks like the C wave is done (as of now)> A move up here may just be an opportunity to short. IWM leading downward.
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float up to take out late shorts, maybe into EOD but that's doubtful.
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SPX close to .618 fib. A little more than that would be ok but not much more.
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sell bounces
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nope, it looks like rsi is pointing at this being a B - another wave up into tomorrow for a double zig zag. If they break the lows it's wrong, but my guess is they will squeeze it out as much as they can.
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possible bear trap, just be careful
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rsi is very low here, suspicious, C possible -
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NQ at trendline, I may be overly cautious, but I don't like this setup for bears right now. Maybe tomorrow it looks better if it breaks.
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one more low is possible, but I'm uncertain right now. RSI getting lower would be helpful. Daily 18ma at 4500 on this chart. That may be the target.
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Could go higher but we're in a resistance area on SPX futures
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taking shorts here with a tight stop. it could be wrong, but I think this is the pattern. Goal is the 18ma around 4500.
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if we sell from here it would be beautiful logic. Bears got trapped this morning and probably covered. Right now longs are probably buying at the high of the day. It may not be correct but if it works out as I suspect, the sell down could be a good one. May take a few days to complete if correct.
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they keep ramping it up. I got stopped out, but I am going to collect shorts around 4600 on this particular chart. Structure is probably the target, and then a move down. It may not happen, but this is what the RSI is telling me right now. Repeat of yesterday, probably turn around 2-3pm I think.
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trendline break, looks like it's done. should bounce a little but I think it keeps going down. to 4500 area if correct
