We have eclipsed that JAN - SEP 2018 - JUL 2019 Highs Line on SPX as well as broken above the 2002 and 2009 ES CHANNEL lines on what is the wildest month in the wildest year in call it 2000 years. We're in our 1st of 2 lunar eclipses of the month today with a solar eclipse at then end of next week with a celestial negative MARS & CANCER divergence within an OVERBOUGHT rally which... In less than [...]
When we started the week: T.I.N.A. is alive and well and how we ended Friday tells a story some may remember from a year ago when There Was No Alternative but to buy stonks and buy them despite some of the highest P/E ratios since the dotCOM boom. SPX opened MAY @ 2,869.09, posted the OPEX HIGH @ 2,945.82 which FAILED to take out the APR High (2,954.86), before going into the final 2 weeks of MAY: MAY 22 Week OPEN CLOSE: 2,913.86 [...]
OVERNIGHT SUMMARY: Bad news on all fronts in terms of economic outlook from France & Japan, yet higher highs across the boards - especially on the DAX in Germany - as global indexes rallied on the "continued OPEC CUTS" comments for Crude to spike +300% from 2 months back. All Indexes are producing their BULLISH WAVE 1 TOP or the BEARISH B RALLY BOUNCE TOP: NO ONE CAN CONFIRM OR DENY BULL OR BEAR UNTIL THE DUE DIP BOTTOMS The [...]
T.I.N.A. is alive and well and how we ended Friday tells a story some may remember from a year ago when There Was No Alternative but to buy stonks and buy them despite some of the highest P/E ratios since the dotCOM boom. SPX opened MAY @ 2,869.09, posted the OPEX HIGH @ 2,945.82 which FAILED to take out the APR High (2,954.86), before going into the final 2 weeks of MAY: MAY 22 Week OPEN CLOSE: 2,913.86 - 2,955.45 MAY 29 Week OPEN [...]
Tuesday's BEARISH REVERSAL failed to repeat yesterday and the 3024 gap officially filled and the 3047 upside would have been tagged in the overnight (/ES 3053.75) so this unreliable and unpredictable 5th wave is still grinding away - but without the LEGS it used to get up here (Nasdaq Tech) SPX 3047-3054 would be prime locations to see this c/3 wave end with the overbought close yesterday SPX 1Hr SPX 4Hr SPX Ending Diagonal In Tact CLEAR AND SIMPLE: SPX NEEDS [...]
The WEEKEND GAP up from SPX 2955 closed that unfilled gap from MAR (2986 - 3024) which was talked about every weekend since MAY 8 and all last week as the focal point for the blow off - throw over possibility for this 5th wave. Within this now even higher "we only move up during after hours" push on /ES for 3035 a/o 6AM... SPX WILL OPEN WITH A GAP UP TO FILL BACK TO 2992 AND SELL DIVERGENCE This [...]
Last week - focused on avoiding a 🔻Weekly Candle - opened @ 2913.86 (the LOW of the Week), peaked Tuesday @ 2980.29, and ended the week @ 2955.45 - 1 point above the EUPHORIA LINE of 2954. As long as price stays below 2954, it can still sink back down to the 50d MA intraday and still be BULLISH as long as it closes above 2775. For that, we'll need to see the close under 2869 to clue us [...]
The week has gone according to plan and the overnight over-reaction ahead of the 3-day weekend oversold the Futures 1hr & 4Hr as SPX neared oversold already yesterday and we're going into the last day of NEEDING to end the week on SPX +2913.86 to avoid the 2nd consecutive SPX 🔻 Weekly Candle. It's a STRONG algo watched for multiple years and in the best interest of the $CPCE, NDX/QQQ accomplishment; SPX 5 waves to not waste one this week [...]
The week began @ SPX 2913.86 and I will continue to remind all that the avoiding a 2nd Consecutive SPX 🔻 Weekly Candle is the primary objective and evidence provided by $CPCE and the overweighted TECH on this minimum objective accomplished for the 5 completed waves on SPX off the MAR LOW for what will be deemed B/1 has produced having closed that gap back to MAR 6 to 2972 while 2986 - 3024 with the 200d MA & that [...]
Tuesday SOLD OFF, but not the violent sell down everyone expected as few have the understanding the REQUIREMENT of avoiding a 2nd Consecutive SPX 🔻 Weekly Candle while the close on the LOD yesterday and overnight pop back up to yesterday's open will immediately produce a SELL DIVERGENCE on the SPX 1Hr when the opening bell rings. Other than that - this is a SELL PREMIUM week with "TECH SUPPORT" continues to hold up SPX/SPY with the NDX/QQQ accomplished its [...]
