100 SPX Point Guarantee!! Morning Notes--Black Hole Looming!!
Morning Notes 05/15/19
Trading Environment-Short Term: Current Environment-Neutral/Bearish
Hi Everyone, In the free video link below, you can take a look at the 100 point spx guarantee..We only do this when big moves are pending and have yet to have a single person ask for refund!
Futures are under some selling pressure this morning and we are at a short term bull/bear line for more downside. 2815 on the /es, if broken, we will most likely see a test or break of the lows. Currently it is trading at 2818 as I type. Momentum is getting into the oversold territory, but that is NOT a reason to buy. The bulls need to push the /es back above 2835 to get themselves out of today danger zone and make a run for 2848/2853. Until they get above that zone, the bears are in control. I have no opinion on whether it breaks up or down, as either way would make sense.
It looks like the gap from yesterday may get closed near the open (2816 spx) and if momo continues on the downside, a test or break of the lows would be expected. If they are broken, I will watch the 2784 to see how the bulls support that line. Unfortunately for the bulls, if they lose that support, we could see another panic sell off down to the 2722 in the coming days. Again, I have no feel for whether they decide to head down or not-as either up or down would make sense. When either way fits a profile, you have to stay open minded and run with a lighter position, like we are now. I have had worse things happen to me running with 1/3 of a position in the right direction ;) My stop is now at 2891 and if we take out the lows, I will move it down to 2855. If looking to get every penny of the trade and we trade near the 2787 level, not a bad place to take profits. Don't Assume Anything!!
Big Range Today! Today range for the spx 2839 high and 2814 low. (Gap Numbers) A break of 2839, the SPX should try for the spx should try for 2852/2860. A push below 2814 we could see 2801/2789. G
SPX CASH 60 minute technicals
Stochastics: Over Sold
Divergences- No Divergences
Resistance Levels: R1-2839 R2-2852 R3 2860
Support Levels: S1-2814 S2-2801 S3 2789
Trending Pivots: Lower/Neutral
Trading Environment-Short Term: Current Environment-Neutral/Bearish
Hi Everyone, In the free video link below, you can take a look at the 100 point spx guarantee..We only do this when big moves are pending and have yet to have a single person ask for refund!
Futures are under some selling pressure this morning and we are at a short term bull/bear line for more downside. 2815 on the /es, if broken, we will most likely see a test or break of the lows. Currently it is trading at 2818 as I type. Momentum is getting into the oversold territory, but that is NOT a reason to buy. The bulls need to push the /es back above 2835 to get themselves out of today danger zone and make a run for 2848/2853. Until they get above that zone, the bears are in control. I have no opinion on whether it breaks up or down, as either way would make sense.
It looks like the gap from yesterday may get closed near the open (2816 spx) and if momo continues on the downside, a test or break of the lows would be expected. If they are broken, I will watch the 2784 to see how the bulls support that line. Unfortunately for the bulls, if they lose that support, we could see another panic sell off down to the 2722 in the coming days. Again, I have no feel for whether they decide to head down or not-as either up or down would make sense. When either way fits a profile, you have to stay open minded and run with a lighter position, like we are now. I have had worse things happen to me running with 1/3 of a position in the right direction ;) My stop is now at 2891 and if we take out the lows, I will move it down to 2855. If looking to get every penny of the trade and we trade near the 2787 level, not a bad place to take profits. Don't Assume Anything!!
Big Range Today! Today range for the spx 2839 high and 2814 low. (Gap Numbers) A break of 2839, the SPX should try for the spx should try for 2852/2860. A push below 2814 we could see 2801/2789. G
SPX CASH 60 minute technicals
Stochastics: Over Sold
Divergences- No Divergences
Resistance Levels: R1-2839 R2-2852 R3 2860
Support Levels: S1-2814 S2-2801 S3 2789
Trending Pivots: Lower/Neutral
