Some concerns for the bear case - SPX DXY GOLD USOIL

By the_sunship
Updated
After today I'm very much considering another leg up on the indexes after a bear trap tomorrow to 3850's. The 18ma weekly should act as support and IF we come down to it, the 4 hr rsi will be showing hidden bullish divergence. I'm using the video as a walk through of my thought process covering SPX DXY GOLD and USOIL. I urge caution for bears at this time. I hope it's helpful.
Comment
at 9:20 I review my thoughts about what's going on - if you want to skip ahead.
Comment
18ma sitting at 3863 on ES, they may panic sell to that area this morning. Still expecting that to be support at the moment. snapshot
Comment
a fall on the hourly chart would set up a nice bullish divergence. Looking for one more low. snapshot
Comment
still expecting lower, rsi on small time frames too hot. snapshot
Comment
looks like a stop hunt, - if i'm right the market reverses and sells into monday snapshot
Comment
welp, no drop. The 4hr rsi looks better now for bears - already starting to be extended. A fall and lower low on monday - tuesday and we'll have bullish divergence on the 4 hr chart. I'm still betting on it and I'm a buyer if it happens. snapshot
Comment
surprising day, but 4 hr rsi now has good room to fall. I still expect this starting monday. snapshot
Comment
hanging man for the weekly candle. snapshot
Chart PatternsDXYS&P 500 E-Mini FuturesGoldTechnical IndicatorsSPX (S&P 500 Index)Crude Oil WTIWave Analysis
the_sunship

Related publications

Disclaimer