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- TERMINOLOGY: ES = S&P Futures; YM = DOW Futures; NQ = Nasdaq Futures
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10yr @ 1.363
SPX Tuesday SEP 7 Data:
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SEP MONTH STARTS @ 4528.80
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Overnight Gap: -0.05
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Range: 22.38
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Open -Close: -15.35
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Close -Close: -15.40
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LOD > Previous Close: -22.43
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Previous Close > High: -0.05
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ATH > Close: -0.57%
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ATH > LOD: -0.72%
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YTD (Close) 2021: +20.07%
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HOD Off MAR 2020 LOW: +106.92%
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YoY: +30.82%
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Month of AUGUST: -0.19%
Checklist:
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ES/SPX NAILED the #1 Dip Target
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Bitcoin / Ethereum BULLISH wave-4 DIP or BEARISH wave-C topped ❓❓ ❓
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QQQ Holding Pattern Wedging
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IWM above consolidation 224.22 – 221.41 range still
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AAPL DKNG SPOT PUTS trades in focus
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OPEX IS NEXT WEEK
SPX /ES NAILED the low point #1 expectation and held hard due to the quickly oversold and lower keltner breaks on the /ES & /YM yesterday while 7 names did all the work to avoid further dippage
With ETHERUM dipping BELOW its wave-1 top and BITCOIN testing its, there’s some Elliot Wave DOUBT that the drop into the JUN LOW has completed which both the Daily, Weekly & Monthly technicals agree with – that further downside is likely
BITCOIN -42000 would seriously damage the Bullish view, but yesterday’s ETH/BTC dips were FLASH CRASHES more than anything else
Anyway…. to SPX
10day
we’ve gone NOWHERE for +5days now (4540 – 4515) and not filled any gaps whereby that -4510 would start confirming wave-5 has topped and SEP OPEX FAILURE is likely which then focuses on 4478 – 4475 – 4471
For that, we’d be looking at QQQ -375 and IWM -224
QQQ 379.5 & IWM 225 are clear and present BULLISH LOSES Warnings
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PUTS IN PLAY
OCT 1 AAPL 150 PUTS (Closed @ 1.55)
I like AAPL for a “blow off top” using that 261.8 extension off the 2019 LOW – 2020 Pre 😷 High – 😷 2020 LOW
Not a fan of 261.8 extensions for significance like a 100.0 or 161.8, but you got Weekly OVERBOUGHT with running sell divergences on the 1-2-4Hr RSI so YES I still see that 145 pivot heading into OCT 1 which would +2💰💰 these OCT 1 150s
SEP 17 DKNG 60 PUTS (Closed @ 0.62)
Time is VERY CHEAP on DKNG and while it looks like a “throw over” on the chart there, note the 200d/50d still BEARISH CROSSED for this BEARISH RALLY
The Daily is flashing OVERBOUGHT with the 4-6Hrs while the Weekly reamins BULLISH, but last week’s 58.65 LOW is #2 after a dip back under #1 @ 60.98
SEP 10 SPOT 250 PUTS (Closed @ 1.85)
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2 GAPS: 248 & 238
Another BEARISH RALLY with the 200d @ 275 & the 50d down @ 238
Joe Rogan’s horse tranq and then the AAPL FEES removal is what ignited the push +228/232
BREAK 248.31 and it’s LIGHTS OUT with 232.46 (-40% from ATH) back in focus as you see the BEARISH CHANNEL:
