What's up guys?
Here's a update .. I'll cover NYA,Qqq,IWM,XLk,XLF
Here's NYA
Notice the price action above the yellow line? That's Wyckoff distribution.
Yesterday we retest that prior support.. the next leg down on this should start.
For more information just research Wyckoff distribution!
XLF (Banks)
Exact same chart as NYA.. Wyckoff retest... Pain incoming
XLK
This is the most important chart you will see on this post!
XLK is the biggest sector on the SPY! If XLK goes down so will the spy!
Daily chart is a major rising wedge..
4hour chart showing a bear flag
That same bear flag is showing on SPY and
Qqq
IWM
Bear flag inside of bear channel
To sum it up if Qqq breaks below 477 tomorrow or Friday , DO NOT CATCH THE KNIFE!!!!! We will most likely make new lows for March..
Core PCE tomorrow but don't forget about end of quarter rebalancing on Friday.. the last hour of the market WILL see some wild moves ..
Next week is a black out period with no earnings and it is the week of Tariffs. I think if they do flush they will try to get most of the selling done before earnings season kicks off April 7th.
Sorry if this is a little rushed but I've been busy.. I'll try to update this more tomorrow..
Lastly
Vix
I thought they would flush this back to 14.73 but when QQQ rejected off it's 200ma , Vix bounced off it's 200ma (No coincidence).. unless PCE sends this below 17.00 tomorrow we are headed back to 23.00
If you need a bigger picture just look at my previous spy post
But let me break this down to you simple.
This spy, you see the yellow area I am highlighting? THAT IS WYCKOFF DISTRIBUTION!
NOW GO TO YOUR WEEKLY CHART , ZOOM OUT AND LOOK AT THE STRUCTURE OF
DJI
MSFT
QQQ
NVDA
AAPL
They are all showing distribution , some 6months worth of it.. So what happens when distribution support is broken as It was on SPY at 580?
What happens next is a Reset! It is exactly what happened in 2022...
Here's a update .. I'll cover NYA,Qqq,IWM,XLk,XLF
Here's NYA
Notice the price action above the yellow line? That's Wyckoff distribution.
Yesterday we retest that prior support.. the next leg down on this should start.
For more information just research Wyckoff distribution!
XLF (Banks)
Exact same chart as NYA.. Wyckoff retest... Pain incoming
XLK
This is the most important chart you will see on this post!
XLK is the biggest sector on the SPY! If XLK goes down so will the spy!
Daily chart is a major rising wedge..
4hour chart showing a bear flag
That same bear flag is showing on SPY and
Qqq
IWM
Bear flag inside of bear channel
To sum it up if Qqq breaks below 477 tomorrow or Friday , DO NOT CATCH THE KNIFE!!!!! We will most likely make new lows for March..
Core PCE tomorrow but don't forget about end of quarter rebalancing on Friday.. the last hour of the market WILL see some wild moves ..
Next week is a black out period with no earnings and it is the week of Tariffs. I think if they do flush they will try to get most of the selling done before earnings season kicks off April 7th.
Sorry if this is a little rushed but I've been busy.. I'll try to update this more tomorrow..
Lastly
Vix
I thought they would flush this back to 14.73 but when QQQ rejected off it's 200ma , Vix bounced off it's 200ma (No coincidence).. unless PCE sends this below 17.00 tomorrow we are headed back to 23.00
If you need a bigger picture just look at my previous spy post
But let me break this down to you simple.
This spy, you see the yellow area I am highlighting? THAT IS WYCKOFF DISTRIBUTION!
NOW GO TO YOUR WEEKLY CHART , ZOOM OUT AND LOOK AT THE STRUCTURE OF
DJIMSFTQQQNVDAAAPLThey are all showing distribution , some 6months worth of it.. So what happens when distribution support is broken as It was on SPY at 580?
What happens next is a Reset! It is exactly what happened in 2022...
Note
Qqq and SPY 1 hour charts..We gapped down to bear flag support and bounced.. now we go into core PCE from here
As long as we trade inside this channel the bear flag threat remains.
Like I said above, If Breaks 477 then the shorting will really begin
Note
Last chartif core PCE comes in good upside move on Qqq is 490.00 tomorrow..
Below 477 and you already know
Note
NNQ2-3 hour Money flow oversold...
Fallen wedge showing
If PCE comes in good, upside move is 20,200
Note
23.16 incoming today on the Vix... Either the market bottoms there for the day or we are headed another 1% down
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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.
Related publications
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.