Looking ahead to this week, I do believe the 18ma on the weekly chart will hold, currently around 3900. A dip under 3900 would make sense to convince bears to pounce. I think CPI will probably pump the market up quickly for a C wave before we start coming down again. Maybe the sell off comes from the Fed rate announcement, or more likely - Powell's Q and A session.
This idea would trick the majority of traders and it would also reset the mid time frames RSI which are already quite low. After the pump (if it comes) a sell off should start getting us under the weekly 18ma and from there a descent down to at least the breakup candle at 3750 into Christmas. We'll see if it works out this way. I will update this chart this week regardless.
Good luck!
This idea would trick the majority of traders and it would also reset the mid time frames RSI which are already quite low. After the pump (if it comes) a sell off should start getting us under the weekly 18ma and from there a descent down to at least the breakup candle at 3750 into Christmas. We'll see if it works out this way. I will update this chart this week regardless.
Good luck!
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on this chart 18ma weekly is at 3880 area. Daily BB is also in the area as well as 50ma at 3850. I'd be surprised if we got to 3850 but it could.
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Good morning, Expecting something like this today, which would be a perfect long setup.
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possible resistance zone.
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shouldn't get over this morning's highs. Target 3900 area maybe under.
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they got over the morning high but it still looks corrective. Expecting a move down at some point today - SPY -
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no sell off, but there's hidden bearish divergence on smaller time frames and we are getting close to the 18ma on daily. I still expect a pullback but it may just keep going down if they can't get over the 18ma. CPI tomorrow may pump it if positive, but if not positive enough, market may tank.
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many indexes stopped at the 18ma daily today - DJT QQQ SPY. CPI is anticipated to be soft and while that may be true, it may not be as soft as the market would like to see. Today Goldman Sachs said that a soft CPI reading could result in a ten percent rally in one day. It's really irresponsible and sounds a lot like bait for a trap.
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vix rallied today and reached it's weekly 18ma, hard to tell what any of this means, except that a LOT of people are getting ready on both sides for the CPI number.
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close to trendline and 200ma this morning.
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a final spike up would make sense
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they spiked to a new high. Either this is a B with a C coming or it's a wave 5 to 4200, I'm not sure. BB is acting as resistance here -
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es target in channel reached. Holding above would continue the rally.
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SPY 2hr chart rsi is looking like it wants price to break down but with the FOMC announcement another spike up today is possible.
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spy potential bear flag formation
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right now this is looking like an ABC correction, we'll see soon enough.
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Still expecting a final push up, could be a lot more than this if I'm wrong.
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fast move down, could still see a higher 5th come
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spy to trendline area
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spy to daily 18ma, bulls want to save this or it becomes resistance. Took some profit, letting rest ride.
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200ma is at 402 area on spy, a good area to add shorts with tight stops. 18ma holding thus far.
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this would be very generous to bears if they allow it -
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watch out for this as well when powell starts. this is why i hate fast moves
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if they can get to 406 on spy today by close it would be a wonderful shorting area and one of the best tricks I've seen...
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larger idea, may not be correct, but as long as the 18 holds, a strong bounce is possible with the powell talk
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aapl bear flag target reached, took more off table just in case
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if a C wave is coming it starts here
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here they come
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maybe they get there, maybe they don't, but it wouldn't surprise me if they did get to 406 by tomorrow. This is why I take profit on fast moves, or buy/sell them if I don't have a position. Similar to yesterday but in reverse.
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SPY - spinning top and held the 18ma, 406 by tomorrow would not surprise me at all.
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made a new post, will continue there
