Its the final hours of the week and SPX has been supporting the SEP 2018 2941 and my 2931 To AVOID a 3rd consecutive 🔻 Weekly Candle, SPX NEEDS to close +2974.28 No one NEEDS to play this close, but you can use this as a starting point to go back and research the CONSECUTIVE 🔻 Weekly Candle patterns going back as far as you'd choose to (understanding algos have become increasingly involved compared to 2008 and 2002). What you [...]
Sun is rising on the east coast and markets are just off their lows, but -2%: YM -520 ES -66 NQ -225 (-2.6%) RTY -29 JOBS had better be spectacular to try and reclaim the 200d @ ~3050 as we have what looks like 5 equal sized waves down in a very controlled drop as we're back to what we played with end of last week and Monday: ES 2926 - 2947: -100p from where BULLS would like to be [...]
Never has there been this wide of an intraday range for this long with last week Tuesday to yesterday trading on the SPX from 73.52p to as much as 160.09p from opening bell to closing bell. Markets are open in April, May, June, July, August, September, October, November and December of 2020 in case you forgot that you DO NOT need to be involved in every trading session. With the market unable to separate still from the bond market - typically [...]
Thursday looks to REPEAT Wednesday as we head into JOBS Friday morning which should be the kicker to push past the 50.0 retrace line on ES/SPX/SPY. Most blind eyes think we're due this massive move to the upside without taking into consideration yesterday was the first day in 5 that FAILED to have an intraday range GREATER THAN 100p because it traded ONLY 96.59p High - Low. We OPENED - LOD - HOD - CLOSE all above 3000 with the [...]
Drawing on your charts is: an art; a requirement; and an absolute thing of beauty when you know what you are looking at SPX NAILED the 50.0 retrace (3124.68) when the FED RATE CUT was announced after having just tagged that 2009 BEAR Extension which was lined up with the 200d MA and having hit the 50.0 retrace (+281p after -538), the wave-a of wave-B placed for the wave-b of B to have its 50.0 retrace which would have been 2996.28 [...]
Friday's BTFD and Monday's confirmation it was the right time and price to do it worked out perfectly into the midday session as we got to see SPX visit the ES overnight high which, with the MASSIVELY BULLISH $TICK & $TICK/Q readings, produced that 3022 - 3028 until they ramped that final hour and took SPX smack to that 2018 JAN - SEP Highs line we just missed by 1p back in JUL 2019: So with the ES printing 3100 [...]
UPDATING have reached our TARGET GOAL ZONE, with the SPX 1Hr having entered into OVERBOUGHT, the ASSUMPTION is for this to be WAVE-A completed off the Friday Low (+185p) and likely to see the WAVE-B retrace NO LOWER than 2930-2940 (~100p) before the WAVE-C can target for that 50,0 retrace later this week with the JOBS Report the catalyst: Chart pre-market: Updated Chart: What I like is mentioned: NAILED the Target Saw 1Hr SPX get inside OVERBOUGHT Printed +3000 What [...]
So the weekend update showed the "W" BTFD Patterns, but not under a microscope. We just had 7 consecutive 🔻 lower closes from the previous close, but Friday posted a 🔺 close than the open (+37.32p) and we've seen the S&P Futures post a poor man's high @ 3021 around 3:30AM today so things are looking 🚀 UP with global indexes green and even Italy is brushing off the VIRAL VIRUS down just -2.48%.. HOWEVER: I've gone back to MAR 2009 [...]
So last week we knew we were going down and went in planned with SPX 3317 is the key to unlock 3266-3188 with my target still 3175. With Automobile sales numbers due the first days of March, the view I can see is a decline this week of a 2nd Consecutive 🔻 Weekly candle, bounce the 1st week of MAR for the BIG B, and then the C 🔻 Wave for that RUG PULL to/through the gap @ 3213-3205 to get [...]
Since so few have seen a 🔻 before, let me quantify what the 5 consecutive 🔻 sessions; -284.53p in 6 sessions has looked like Close-Close: -12.92p -35.48p -111.86p -97.68p -11.82p 5 Consecutive 🔻 Close - Close sessions which I you need to go back to Jul 29 - Aug 5 (SPX 2856 bottom) to see which was 6 consecutive but had a 💲GREEN💲 Open - Close in between it (which we don't have here) which ended with a +37p bounce session. [...]
