All in the video. The next few days will help to see if we will get a bounce or a quick move down to 4600. Metals and Oil also covered....
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USOIL divided by QQQ - note the support zone. Ratio charts are suggesting OIL will outperform the markets (right now- that could change). Most people are bearish on Oil and the inflation trade in general.
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on SPX if they come down into the close it may be a false breakdown. Either way watch for this wedge structure to break - one way or another. If they bounce target would be the gap fill above at 4770.
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close up of wedge/channel.
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aapl close to strong support at 182.5 a flush into close (if it occurs) would probably be a buy, although if they gap below this support tomorrow it will be a big problem for big tech. they all tend to follow aapl.
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us oil channel. over 74 and it's a breakout
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breakout, 18ma holding for today looks likely.
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i forgot about the fed minutes at 2pm. AFter the pop out of the channel they came back in, Still holding the 18/20ma so far. A close under 4705 would signal more bearishness overnight most likely.
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no real change overnight, just consolidating in the channel. On SPX futures, there is a break up candle near 4660 which may be support if we break down from here. 830 numbers will probably move it pretty good either way.
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Still in the channel. they are buying it at support, and that makes sense, but because we opened under the 18ma, there is a chance of a rejection here. Under 4700 would be a problem for bulls.
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NQ Bollinger band is 16300, I think it will get there today or tomorrow.
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18ma reached, if bears want to spoil the party this is the area for them to sell it.
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IWM showing a bear flag, I think we'll go down soon, will update if not.
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rejection at 18ma so far, but just floating around. market looks to be waiting for tomorrows numbers
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daily inverted hammer, many times this candle is formed right before a reversal - aka bear trap. I don't trust the market here, just going to go home flat.
You can read more about them here. commodity.com/techni...sis/inverted-hammer/
You can read more about them here. commodity.com/techni...sis/inverted-hammer/
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the fact that they waited until the very end to break 4700 is suspicious. I think they are going to gap this up tomorrow. I could be wrong.
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good morning, after the numbers they tested the breakup candle area and it looks like a reversal. I expect a bounce for a few days at least. Target may be the 18ma again or higher.
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usoil looks to be breaking out of it's channel. Should not get below it's daily 18ma if it's going to continue.
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nq reached its bollinger band and will likely test its 18ma at 16800
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if one more low happens today it is very likely a bear trap.
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a bull and then bear trap would look like this
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if they get under 4700 this MAY be playing out, we'll see. I'm suspicious of fast moves like this. Usually they are a trap.
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this is the area bulls need to get over. Right now I think it's going to reject from here and gap down Monday.
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a gap down monday looks likely but it would probably be a buy opportunity.
