Looking for a retest of the double top neck line around
408-409
The dow jones has the same double top and more importantly it lost its wedge support
www.tradingview.com/x/1UbYigX
But I think it will retest that wedge
Qqq actually retested its daily wedge support again today and bounce.
I think there's a chance if things align tomorrow for one more test of 321 like so
As you know aapl earnings is tonight and the last 2 earnings aaple has gapped down after hours and miraculously bought 10min before the open which meant both bears and bulks were fawked.
I'd sit it out, and play the open. aapl has moved 4-6% after earnings
The most extreme bullish scenario I have for the spy is 410 is
Becareful though with swinging longs this month , I was expecting this drop but I thought we'd get 1 more test of 418 first.
408-409
The dow jones has the same double top and more importantly it lost its wedge support
www.tradingview.com/x/1UbYigX
But I think it will retest that wedge
Qqq actually retested its daily wedge support again today and bounce.
I think there's a chance if things align tomorrow for one more test of 321 like so
As you know aapl earnings is tonight and the last 2 earnings aaple has gapped down after hours and miraculously bought 10min before the open which meant both bears and bulks were fawked.
I'd sit it out, and play the open. aapl has moved 4-6% after earnings
The most extreme bullish scenario I have for the spy is 410 is
Becareful though with swinging longs this month , I was expecting this drop but I thought we'd get 1 more test of 418 first.
Komen:
Target hit...
Komen:
I'm short X here
20.5P
5/12
21.75 stop loss
It's still correcting down to 19
20.5P
5/12
21.75 stop loss
It's still correcting down to 19
Komen:
Spy 2hour .. at resistance
2 hour at resistance
Dow 2hour. Wedge retest and reject
Komen:
Don't get caught swinging this long here
Spx 1 hout chart..
Spx 1 hout chart..
Komen:
Retest of that double top neckline
Komen:
Es completed its inverted H&S..
I'm looking for a back test of 4135 .. and then from there we'll see
I'm looking for a back test of 4135 .. and then from there we'll see
Komen:
Bullish scenario..
Pullback and test 1hour 200sma then invert higher...
Let's see what happens..
Pullback and test 1hour 200sma then invert higher...
Let's see what happens..
Komen:
Woke up super late today..
Just went over Dow jones and IWM
Both gapped up into resistance
Big tech is playing piggyback with the market.
Googl up MSFT down
Still looking for Spy to test 200sma on 1hour. But for that some of tech will need to give up life support..
Until then, just chop , not worth trading the ETFS imo
Just went over Dow jones and IWM
Both gapped up into resistance
Big tech is playing piggyback with the market.
Googl up MSFT down
Still looking for Spy to test 200sma on 1hour. But for that some of tech will need to give up life support..
Until then, just chop , not worth trading the ETFS imo
Komen:
Remember that IXIC (Nasdaq) Post?
They won't breakover it..
NQ 2 HOUR MONEYFLOW oversold..
Don't chase calls up here
. Big dump coming either tomorrow or Wed
They won't breakover it..
NQ 2 HOUR MONEYFLOW oversold..
Don't chase calls up here
. Big dump coming either tomorrow or Wed
Komen:
Qqq
Qqq bearish scenario- double top back down to 320, then 317
Qqq bullish scenario push up to resistance or 325 before heading lower
Qqq bearish scenario- double top back down to 320, then 317
Qqq bullish scenario push up to resistance or 325 before heading lower
Komen:
NYSE/NYA
Similar chart to
DJI
IWM
DJT
I think we see a repeat of last week's selling with financial,cylicals and small caps leading
Similar chart to
DJI
IWM
DJT
I think we see a repeat of last week's selling with financial,cylicals and small caps leading
Komen:
So far premarket shyt looks fishy...
They won't break ES below 4130-4135
And looking at IWM , they won't drop it below 173 premarket. Below 173 and things get nasty..
Below 173 is a H&S
IWM is leading the downside premarket,, if they won't break 173 there then most likely they buy things up all around again..
So what I am trying to convey is, if you swung short , be prepared to take profits , don't let green turn into red.
Watch ES for a break below 4130 and IWM for a break below 173 to renenter short again.
They won't break ES below 4130-4135
And looking at IWM , they won't drop it below 173 premarket. Below 173 and things get nasty..
IWM is leading the downside premarket,, if they won't break 173 there then most likely they buy things up all around again..
So what I am trying to convey is, if you swung short , be prepared to take profits , don't let green turn into red.
Watch ES for a break below 4130 and IWM for a break below 173 to renenter short again.
Komen:
QQQ Support at 320.90 or 200sma on your 5min chart.. it's bounced off this trendline yesterday..
Komen:
Spy 1 hour.. careful if your short..
410.50 support
Qqq 1hour
Bounced
410.50 support
Qqq 1hour
Bounced
Komen:
When ever there is chop, there's always a pattern building... I think the last 2 day session was a build up of a right Shoulder.
You can see it on the Spy and Dow
Just cause the pattern is there , doesn't mean it will play out! CPI will be the Catalyst if it does.
The play out would look something like this
Pump up to 418 then the next leg down to 395
ES showing similar pattern with a bullflag for the right shoulder
I'm not saying to long this, because I'm not. I have some late may Amzn calls (Small positon).
If this doesn't play out then we'll head straight for 403....
You can see it on the Spy and Dow
Just cause the pattern is there , doesn't mean it will play out! CPI will be the Catalyst if it does.
The play out would look something like this
Pump up to 418 then the next leg down to 395
ES showing similar pattern with a bullflag for the right shoulder
I'm not saying to long this, because I'm not. I have some late may Amzn calls (Small positon).
If this doesn't play out then we'll head straight for 403....
Komen:
No volume today on spy, QQQ and DIA are even worse.. they just activated the plunge protection team (Algo) at the dip..
Can't be bearish on pullbacks without volume, those are how traps are formed!
Can't be bearish on pullbacks without volume, those are how traps are formed!
Komen:
Most likely close that 415.50 gap close today and if the PPi follows the CPI they'll tag 418 tomorrow..
Don't short this above 413..
I like Amzn calls for 109.50 gap close
107.50 stop loss (Weekly 50sma)
Don't short this above 413..
I like Amzn calls for 109.50 gap close
107.50 stop loss (Weekly 50sma)
Komen:
Cylicals,Energy and commodities leading the slide
Komen:
Spy 1hour..
Below 412.50 and we head back to 410.67
Below 412.50 and we head back to 410.67
Komen:
Tech is holding but they are really drilling energy and commodities. As you know, it will be hard for the spy to dump if tech doesnt..
I think the CPI stagflation has pump the breaks on rate pause.. like Powell said "Still alot of work to do".
Rate increases at this point hurts Financials more than tech.. if Financials tank then that pulls down recession sensitive sectors
I think the CPI stagflation has pump the breaks on rate pause.. like Powell said "Still alot of work to do".
Rate increases at this point hurts Financials more than tech.. if Financials tank then that pulls down recession sensitive sectors
Komen:
Moved stop loss up on Amzn calls
Komen:
Qqq Nearing Resistance here.. tighten those stops
Komen:
Covered on Amzn.. they can keep the change
Komen:
I wouldn't want to be long here on any tech..
Looks like the top maybe in here on NQ
Looks like the top maybe in here on NQ
Komen:
Becareful if your long here... I'll be back on later
Komen:
Spy 1hour chart..
No man's land ...
In the middle of a Small megaphone ..
412.50 is the center line..
Not a good place to open up a trade on spy
No man's land ...
In the middle of a Small megaphone ..
412.50 is the center line..
Not a good place to open up a trade on spy
Komen:
Games...
The biggest sector XLK almost at resistance after flagging. If it rejects like it did the last 3 times them Msft and aapl will dump tomorrow..
If you notice XLK looks exactly like QQQ you're not tripping.. with that being said, if XLK pullback then tech will too
The biggest sector XLK almost at resistance after flagging. If it rejects like it did the last 3 times them Msft and aapl will dump tomorrow..
If you notice XLK looks exactly like QQQ you're not tripping.. with that being said, if XLK pullback then tech will too
Komen:
Dow jones.. 50 sma just crossed beneath 200sma on the 1hour (Bearish]
Never could breakback inside that wedge..
Consider last 4 session as a round off of a right shoulder
Next target 32,700
Never could breakback inside that wedge..
Consider last 4 session as a round off of a right shoulder
Next target 32,700
Komen:
Googl pumped the tech sector.. A.I. A.I.. blah blah .. nothing has changed .... I'll post back last 15min EOD
Komen:
Same charts I posted earlier.. Googl event threw market a life line here..
Same thing that saved the market will likely tank it tomorrow.
This megaphone crap is on alot of different charts, even the VIX. As soon as the vix hit resistance it flushed .. now it's approaching support while NQ is approaching resistance . Seems like a nor Brainer right?
Same thing that saved the market will likely tank it tomorrow.
This megaphone crap is on alot of different charts, even the VIX. As soon as the vix hit resistance it flushed .. now it's approaching support while NQ is approaching resistance . Seems like a nor Brainer right?
Komen:
Here's a Spy 1hour chart with fib levels and 200sma ..
410.67 is first support
412.30 is resistance
As you can see the 200sma is near 410.60 so it could dead cat their b4 flushing later. Under 410 we test 409. Beneath 409 and we gap close
Also
There's this trendline on the SPY and ES.. They are both connected.. it keeps bouncing off of it! Keep it on your radar and be prepared for fawkery if you see a bounce.. it would put supporting bounce around 408... I could see a scenario where they bounce it at 408 but close under 411 then finish the move tomorrow when Michigan inflation comes out
410.67 is first support
412.30 is resistance
As you can see the 200sma is near 410.60 so it could dead cat their b4 flushing later. Under 410 we test 409. Beneath 409 and we gap close
Also
There's this trendline on the SPY and ES.. They are both connected.. it keeps bouncing off of it! Keep it on your radar and be prepared for fawkery if you see a bounce.. it would put supporting bounce around 408... I could see a scenario where they bounce it at 408 but close under 411 then finish the move tomorrow when Michigan inflation comes out
Komen:
Tech is mixed..
Dow jones is the biggest drag. Currently bouncing off its 50sma..
YM is oversold on 1hour..
This is important if you're short.. You'll either need the Dow to keep dropping or tech to start selling.. tighten stops
Dow jones is the biggest drag. Currently bouncing off its 50sma..
YM is oversold on 1hour..
This is important if you're short.. You'll either need the Dow to keep dropping or tech to start selling.. tighten stops
Komen:
Games.. QQQ has been hanging on to ceiling resistance like a cave bat..
They should flush this soon..
They are playing musical chairs with these tech sectors.. today XLK and SMH down while they pump the shyt out of XLC
They should flush this soon..
They are playing musical chairs with these tech sectors.. today XLK and SMH down while they pump the shyt out of XLC
Komen:
Update.. Dow jones bounced off its 50sma
Head and shoulder forming on the Dow .. I'm expecting a 10% drop here. Seriously!
Spy.. same Head and shoulder here that will send it back to 380
And even worse is NYSE, the H&S on this is huge..
I know tech has been holding things up but like I told my Twitter followers over the weekend they are just popping the laggers (Googl,Amzn) to close some gaps. They already closed 95% of the gaps on
Msft
Aapl
NVDA.
So spy and Dow are showing H&S
Qqq and tech sectors XLC and XLK both have this rising wedge . It's just grinding higher.. tomorrow's top will be 326.90..
I don't think it breaks over that before a dump back to 321
Be on the watch around 10.am est for Michigan inflation
Ill do a new post tomorrow ✌
Head and shoulder forming on the Dow .. I'm expecting a 10% drop here. Seriously!
Spy.. same Head and shoulder here that will send it back to 380
And even worse is NYSE, the H&S on this is huge..
I know tech has been holding things up but like I told my Twitter followers over the weekend they are just popping the laggers (Googl,Amzn) to close some gaps. They already closed 95% of the gaps on
Msft
Aapl
NVDA.
So spy and Dow are showing H&S
Qqq and tech sectors XLC and XLK both have this rising wedge . It's just grinding higher.. tomorrow's top will be 326.90..
I don't think it breaks over that before a dump back to 321
Be on the watch around 10.am est for Michigan inflation
Ill do a new post tomorrow ✌
Komen:
Running late today..
Spy 30min
Long only over 414
Short target - trendline
411.00
Spy 30min
Long only over 414
Short target - trendline
411.00
Komen:
Just hit support
ES..
Needs to break it or they'll chop it up again today
ES..
Needs to break it or they'll chop it up again today
Komen:
Spy tagged our 411 support trend..
Let's see what happens, remember I said they could chop this up again to 412-413 b4 dumping next week.
NQ oversold on the 1hour MFI and bbands..
But dropped outside a wedge so they could stall it till it gets out of oversold and EOD flush
Let's see what happens, remember I said they could chop this up again to 412-413 b4 dumping next week.
NQ oversold on the 1hour MFI and bbands..
But dropped outside a wedge so they could stall it till it gets out of oversold and EOD flush
Komen:
XLK - The biggest sector is showing a bearish diamond top at the top of a bearish rising wedge.
Aapl and Msft will be effected the most from this drop
Aapl and Msft will be effected the most from this drop
Komen:
Qqq. Told you yesterday this wasn't breaking over that 326.90..
324 next support (Yellow line)..
Beneath that 321.30
324 next support (Yellow line)..
Beneath that 321.30
407.50 is your support
A break over the 200sma and your next target is 410.50