Pre CPI SPX500
Updated
CPI at 8:30 and with it probably a large move. Best to wait and see how the dust settles. A move down after a pop up likely gets us to the daily and weekly BB area - 3530-3500. A pop above the green channel and hold would be bullish, but we would have to wait for a 4 hr close to make sure it's not a bulltrap. I have no idea which may happen but I would nibble if we got to 3530-3500 today or tomorrow. Good luck!
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to the channel trendline with a minute to go Comment
to 3500 Comment
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Weekly BB a little lower, probably after open. sitting about 30 points lower Comment
VIX still at 33? weird Comment
make it or break it for aapl Comment
vix - Comment
Possible shooting star on yields Comment
Sellers coming in at the futures gap. We'll see soon if they can get into it or if it completely rejects from here. Comment
into the gap now on futures, also over the area of the Blue structural trendline which I've talked about for months. They need to hold this level for today and for this week. Hammer candle on daily possible if bulls keep pushing. Comment
looking better on the daily candle Comment
now getting over green channel. Lots of disbelief out there so likely a huge short squeeze into tomorrow. Comment
SPY at it's channel now as well, everything looks ready to pop up - note the gaps on spy (boxes) They are possible targets Comment
over the channel now - I forgot one gap that may get filled next week (or tomorrow) Comment
Took some profits from this morning, I expect a pullback to channel later today or tomorrow. It may not stop, but I took the cash on the day trade, market was getting too fomo--y. Comment
If they get under 356 on spy there's something wrong. I don't expect it but you never know with this crazy market. Daily structure to me looks complete and the structure has held. Going to do some errands - good luckComment
At lunch I just looked at the Emini futures chart and it DID NOT break out of the channel - be very careful going long here. As I said, under 356 on spy and something is wrong. Going to wait and see what happens. Very possible this is a C leg of the 4th wave and we have one more low to go into next week. I don't know for sure and I don't trust the market yet. Comment
ES needs to close above 3700 either today or tomorrow, that would give more credence to this move. Just going to wait in cash and see how this goes into tomorrow. Comment
ES has gotten to 3700 area, and although we may not close above it, it looks like a legit breakout of the previous channel. As of now I expect something like this. Tomorrow may sell, but I would think at this point any pullbacks will get bought. Again, if SPY gets under 356 next week, there will be another leg down but as of now I'm not seeing that happening.
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