SPX weekly preview, with guest stars DXY, USOIL, GOLD, USOIL
All details in the video. Bias is now up on SPX but this week will be crucial to close above 3940. A failure to hold the 18 ma would be bearish.
Dollar has an inverted hammer on the weekly chart - a warning of reversal. Gold also in a precarious area, USOIL needs to hold 70 otherwise 65 looks likely.
Good luck!
Dollar has an inverted hammer on the weekly chart - a warning of reversal. Gold also in a precarious area, USOIL needs to hold 70 otherwise 65 looks likely.
Good luck!
Nota
es has reached 3940 level in premarket. i expect a pullbback here. Nota
on spx cash there's a gap above - look for that to be either resistance or filled. Powell speaks tomorrow so that's a wild card. Personally waiting till tomorrow to see what the market looks like. Nota
spx cash has reached it's pitchfork boundary, fwiw. We are stopping at the gap area. The BB and 200 is above, normally I would say they will try to reach it, but I'm not sure as of now. Nota
looks like reversal candle on ES but we're still over he weekly and daily 18ma's so the bias is still up for now. They could not hold the 50ma or the pitchfork fib on ES, interesting. Perhaps both get tested again tomorrow. Remember Powell speaks at 9am tomorrow so expect a few crazy moves during the speech. Nota
good morning, looks like a bear flag was created overnight - if so, the target would be around 3830 Nota
bulls need to hold and close above 3940 to continue the uptrend. As of now this looks bearish, but Powell's speech may give some fuel to the bull case, let's see what happens, good luck! Nota
Powell speech is probably going to get us to test 3915-20 but i think there will be rejection if we get there. Nota
putcall on index and equities still quite subdued Nota
ES target reached, should be the high for today if I'm right about this move. I have many errands to do today but will check in later - good luck to all. Nota
welp it's a rising wedge. probably end at the highs at the end of the day. Nota
the rising wedge broke, they may try getting one more high out of it before close. Nota
yep one more high at close, should scare out many shorts. I still think it goes lower. Nota
the retrace is looking too high for a straight down C wave, so I'm thinking a down move will be the C of B before a final C up - I expect the downmove overnight into tomorrow. Perhaps CPI will be the reversal, or the final move down before they buy it up. RSI level will need to be watched for hidden bullish divergence. I'll do a post about this tomorrow once I see overnight price action. Nota
overnight they hugged the rising wedge. we're backtesting it again today. For the brave, this is a short opportunity with a tight stop. Keep in mind CPI is tomorrow and today's and overnight action can be obliterated within 2 minutes of the CPI announcement at 830 am tomorrow. Nota
we're close to an old trendline, let's see if it means anything - out for the day today - good luck! Nota
they are at the 200 daily ma, maybe they try to take it by end of the day. Market is acting like a penny stock today, good luck trading it Nota
we could go father, but the ja5 5th post target is close - 
Nota
good morning, looks like a reversal overnight. As of now we stopped at the upper BB and 200ma combo on ES. A rally this morning may be very short lived as CPI bulls will be trapped. Support is the 50ma around 3930 but if there's a rush for the exits, the 18ma at 3880 would probably be the likely support. Good luck! Nota
posted a new update, will update there for now - good luck! 
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