Update on the markets - SPX GOLD SILVER USOIL
Updated
All in the video. The next few days will help to see if we will get a bounce or a quick move down to 4600. Metals and Oil also covered....
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USOIL divided by QQQ - note the support zone. Ratio charts are suggesting OIL will outperform the markets (right now- that could change). Most people are bearish on Oil and the inflation trade in general. Note
on SPX if they come down into the close it may be a false breakdown. Either way watch for this wedge structure to break - one way or another. If they bounce target would be the gap fill above at 4770. Note
close up of wedge/channel. Note
aapl close to strong support at 182.5 a flush into close (if it occurs) would probably be a buy, although if they gap below this support tomorrow it will be a big problem for big tech. they all tend to follow aapl. Note
us oil channel. over 74 and it's a breakout Note
breakout, 18ma holding for today looks likely.Note
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i forgot about the fed minutes at 2pm. AFter the pop out of the channel they came back in, Still holding the 18/20ma so far. A close under 4705 would signal more bearishness overnight most likely. Note
no real change overnight, just consolidating in the channel. On SPX futures, there is a break up candle near 4660 which may be support if we break down from here. 830 numbers will probably move it pretty good either way. Note
Still in the channel. they are buying it at support, and that makes sense, but because we opened under the 18ma, there is a chance of a rejection here. Under 4700 would be a problem for bulls. Note
NQ Bollinger band is 16300, I think it will get there today or tomorrow. Note
18ma reached, if bears want to spoil the party this is the area for them to sell it. Note
IWM showing a bear flag, I think we'll go down soon, will update if not. Note
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daily inverted hammer, many times this candle is formed right before a reversal - aka bear trap. I don't trust the market here, just going to go home flat. You can read more about them here. commodity.com/technical-analysis/inverted-hammer/
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the fact that they waited until the very end to break 4700 is suspicious. I think they are going to gap this up tomorrow. I could be wrong.Note
good morning, after the numbers they tested the breakup candle area and it looks like a reversal. I expect a bounce for a few days at least. Target may be the 18ma again or higher. Note
usoil looks to be breaking out of it's channel. Should not get below it's daily 18ma if it's going to continue. Note
nq reached its bollinger band and will likely test its 18ma at 16800 Note
if one more low happens today it is very likely a bear trap.Note
a bull and then bear trap would look like this Note
if they get under 4700 this MAY be playing out, we'll see. I'm suspicious of fast moves like this. Usually they are a trap. Note
this is the area bulls need to get over. Right now I think it's going to reject from here and gap down Monday. Note
a gap down monday looks likely but it would probably be a buy opportunity. 
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