I think starting tomorrow a big push up in tech is probable. Today we had a falling wedge, a breakout and retest. With the mid time frame rsi this low, chances are it will be reset. Target area around 382....
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falling wedge and retest on 15 minute chart -
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nq popped up overnight, but a move down before a larger move up looks possible
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if the trendline (green) holds, it will be a smaller pullback and more upside for today.
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spx at horizontal support. Small time frame rsi quite oversold, expecting a bounce and/or rally at open.
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dips should be bought, but kepping stops at breakeven in case something else happens
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could be ABC on QQQ -
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watch for possible head and shoulders here -
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either we correct here or one more move up, looks like A wave is close to being finished. A corective move right now (for me) would be a B wave. After the FOMC we get C (up). At least that's what it looks like now.
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NQ structure I'm watching. Still thinking we're in B with C next. Tech should outperform some more.
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if NQ is a bear flag, we go back to the lows, then we'll see the rsi for the possible C wave.
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this could be wrong, but smaller RSI needs to be reset. Part of the larger B wave before C. I will be away today, don't forget FOMC at 2pm.
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this is spx, but QQQ will move similar. THis is what "i think" is coming into and after fomc. Just an idea before I'm out for the day, fwiw -
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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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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.
