Weekly Preview - the Dash to Trash - SPX OIL GOLD Yeilds
Updated
All in the video, a correction is likely but I don't think we crash. Final targets are still 4600+ for this particular rally. IWM and DJT caps will likely get heavily bid into the end of the year while SPX and QQQ take a breather. OIL downtrend continues, needs to get over 80 for any kind of reversal to take place. Gold could be in a Wyckoff distribution here, I'm not sure - but RSI is telling me to be cautious and expect a pullback. Yields should go higher as the stock market corrects.
Good luck!
Good luck!
Note
daily 18ma currently at 4520... Note
dash to trash has begun - note the MJ stocks today. CGC +12 percent so far. Note
probably up today, but if it's fast it could reject. More chop while trash gets bought. Note
QQQ will likely outperform - hidden bullish divergence on 2 hr rsi. Note
"never short a dull market" - I think this is what is comingNote
RSI could really go either way from here now that the overnight has rallied a bit. 830 numbers will tell us more. Note
every day until Friday are important numbers at 830 am us.econoday.com/Note
iwm up almost 2% again today. My feeling is this is a C wave and the goal is the gap at 190 Note
rsi still too low, this sell off likely gets bought and we go over 4600 Note
SPX not going up as I thought, watch the triangle. A break down would be bearish Note
weak close, the daily 18 ma is 4540, so if they gap under that tomorrow it will likely be resistance. hard to tell from the RSI here what is going to happen, but a sell off for a few days to a week may occur. It could also be the top for the year. Very few are thinking that at this point (myself included) so I have to keep it in mind. Note
NQ lost it's 18ma today. If we topped, Tech is hinting at it today. Note
18ma held on SPX futures overnight. 4hr rsi is quite low here. A final spike up is possible with the 830 numbers today or tomorrow. Otherwise a fall under the 18ma daily is bearish Note
see thursday's listings us.econoday.com/Note
Because the RSI was so low this morning, my feeling is we make another high with this structure. Maybe today at some point or tomorrow we see a sell off, in the meantime the RSI needs to be reset in my opinion. If wrong I will update but i think the dips will be bought today. Note
with the spy rsi like this i think we will ramp up tomorrow after 830 numbers. A quick spike through 460 should reset the rsi enough with more bear divergence and take out the majority of stops above the previous highs. Once (IF) we get there I think it's ideal short entry, at least much less risky than here.
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I still think we'll spike up past 4600 - Will update if it looks incorrect. Note
on futures, a potential triangle may be finished watch for a break above 4595, if they hold it's bullish for the day. Note
on spx cash we have this triangle as well - watch for a break in either direction. Note
ok so we're getting "something" like what I expected - higher to 4600 area and then a rug pull, but I can't tell if it's done going higher or not. RSI is reset but is it enough? on 4 hr time frame it can go higher but on smaller time frames, it's enough. Difficult to tell. Back under 4570 and i'ts definitely bearish.Note
1hr time frame - multiple bearish divergences. Note
buyers "should" step in hereNote
this is looking like a false breakout as of now, let's see what happens this afternoon.... Note
spx is holding, so I expect higher next week as of now. 4 hr rsi still plenty of room to go back to the highs. 
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