NQ has less Difficulty on Fridays and Mondays of late. 2 Mondays ago gave us the Globex push to 15399, from which Price promptly Dumped Hard. TImeframes are telling for October, the Weekly TF is Negative. The Daily has the 21 below the 34EMA, as both are slowly approaching the 50EMA. NQ's 200EMA resides @ 13961. Price has dropped over 1,000 points since the...
Market is in the distribution mode. The new month started and offered new levels for the machines. My personal view is a big H&S pattern formation in play. I projected potential boundaries of the right shoulder. A strong bounce on Friday may correct the lower edge if not taken out. But for now I go with a symmetrical shoulder. The previous month S1 and this month...
From here we are breaking resistance to the upside . We are looking to find new potential short targets at 4400-4444 within this 44 pt range. Next move down should be towards the 422 area. For now just continue to play the zones and profit. Short below 4345 on /ES. Message for any questions.
(Opinion Only) Just sharing where we're at not an overall hypothesis on how to position. #Goodluck
TF: 15 Min Looking for a quick wick down around the open to the levels shown for a buy today
It looks like SP500 dropped all the way into the Support Zone. We should get a move back up from here. Once again, as long as we stay in this Sideways Market condition, we don't have any real strength or momentum. We may stay inside here over the next week or so. We will likely move UP from here but I can't say for sure we will create an ATH on this move up. It...
Asian down on bad PMI numbers, NQ went oversold on the daily as I predicted. Not sure if it hits my bottom trendline or not, but I certainly don't plan on holding any long positions over the weekend. Too much heartburn, lol. Easier to just wait until Monday.
SP500 (SPX, SPY, ES) - Still in a SIDEWAYS market condition, as we've been in all week. No real momentum here. Maybe, hopefully we can break out of it today. If so, I see it going UP from here. If not, we may stay in this range for the remainder of the week. Maybe even into next week. Will be watching...
Until we break out of this range, we may not get many nice move days. This could last all week and possibly go into next week. However, once we broke out above or below this range... we should get some really nice big moves. Until then, I'm just going to tread lightly and practice more patience. Always know what market conditions are ideal for your trading...
Looks to me like daily MFI needs to go oversold before we get a rally. Probably when the Dems finally decide to increase the debt ceiling on their own. They want to spend $3.5T but are worried about public perceptions if they raise the debt limit, lol. Go ahead and raise it, we already know the next generation is screwed. I'll be dead by the time this Ponzi...
SPY another dip to buy! confirmed Same ol shake and bake in play, and now the market is retracing it's typically dup buys. Very good spot to buy given the huge selloff volume at market open
i guess this was the discount, but long it is for now.
Macro Observations As the Global Economy continues to weaken, DEBT is beginning to weigh heavily on the same. Inflations have many Vectors - Monetary, Fiscal, and Confidence. Throughout the history of the United States, the "Debt Ceiling" has always been a Glass Roof. At present, decades of abuse since the 1980s have come home to roost. The result of...
RSI barely touching oversold, but I don;t think it rebounds until MFI gets oversold. Could happen later this afternoon, much like last Monday's reversal
highly considering throwing on a micro and forgetting about it. markets getting clobbered this morning. As our government is still considering the pros and cons of going into a coma, the downside danger is still in the air. That uncertainty could serve to hold markets down, and keep traders who favor green candles over red candles away longer. Speaking as a...
Nasdaq 100 is circling Sellers for Globex, although weakening the 318 Level remains important. NQ Struggled today as the VXN did not complete its Gap Fill, which inhibited the Instrument from doing the same. During RTH the count did not exceed, that was reserved for the Globex toss over @ 399. This implies they will attempt to not only Fill the overhead Gap,...
other indexes are still rallying from the bull flag, but the nasdaq got sold into and is now trying to recover using s/r levels and 50% correction area on fib.
Market Observations will be on hold for the next 7-10 Days beginning Tuesday after the NYSE Close. We will be relocating our arrangements during this period. We raised our Cash Position to 91.28%. TLT Puts - Sole Position. NQ remains in a weakened and weakening Position. Friday we saw the 1 Hr Moving Average Convergence Divergence turn Negative. The 1 Hr closed...