4100 seems to be the price area where the market is in equilibrium.
Still some downside to 4000 in my opinion.
Some chop around 4100 while market consolidates the recent Rally. 0.618 retracement to the downside may find support.
On the other hand, markets may try to close the gap at 4220 before the end of the week.
Either direction seems like a lot of chop.
TSLA is quietly trying to hold up markets as an ascending triangle forms as the split on 25th closes in.
Energy is blasting off, if only to hang itself in the future.
Inflation is not being kind to HD joining the club of H&S patterns forming.
DXY double top could mean revert.
Still some downside to 4000 in my opinion.
Some chop around 4100 while market consolidates the recent Rally. 0.618 retracement to the downside may find support.
On the other hand, markets may try to close the gap at 4220 before the end of the week.
Either direction seems like a lot of chop.
TSLA is quietly trying to hold up markets as an ascending triangle forms as the split on 25th closes in.
Energy is blasting off, if only to hang itself in the future.
Inflation is not being kind to HD joining the club of H&S patterns forming.
DXY double top could mean revert.
Note
Spy Bearish Engulfing on 1hr.Trying to close gap @ 411.63 from 0 Inflation Print for July.
Note
moar chop.Intraday H&S and Broadening Formation / Horn
Still waiting on Gap Close to clear up direction.
Note
All signs point to 411 close. I might take an iron condor and watch the theta burrrrnnnn until Jackson Hole.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.