Weekly Preview SPX 500 Oil Gold Bonds
Updated
All in the video, decided to do it early because I'll be away until Monday. SPX could continue slightly higher, but I don't think it gets past 4450 as of now. Other markets are at interested support zones.....
Have a nice long weekend!
Have a nice long weekend!
Note
good morning, if they decide to pullback this week, the 18 daily ma is 4270, that could be the target. Hard to say at the moment if it will go higher or not. Note
Mid time frame RSI showing bearish divergence and a pullback may be a C wave. It could also be more severe, we'll have to watch how the RSI reacts to any sell off (if that actually occurs)Note
this is the previous structure which broke down with the bear trap. If they can get under it again it will likely be bearish for the day. Good luck!Note
on spy, we can see how the market again stopped at the trendline as it had before. Nothing confirmed as yet, but it's an objective short area. Note
SPY trendline lands at about 439.60, that would be a good area to try a short if they get there, tight stop of course, don't let it run away. Note
target area reached, 440 may get tested but if the bears come in it should be around here, a little higher perhaps, but not much. Note
welp, no bears to be found. They may have put in the final wave though, we'll see tomorrow how it looks.... Note
good morning, hard to tell what's going to happen with CPI at 8:30. On one hand the bias is up as we are over the weekly 18ma and the mid time frame RSI can get much more extreme to the upside. If we pump, the BB is the target, now sitting at 4480 area. On the other hand, a sharp pullback to 4300 would reset the mid time frame RSI almost completely and that would probably be the pullback which will be bought. Either way, higher "looks" probable unless something changes completely today or the next few days.
Note
it was a pump, target is the BB at 4480. Nice 4 hr bearish divergence now Note
SPY already over it's Daily BB and QQQ too, I wouldn't chase them here. Note
4500 is the next big resistance, so likely it will tag it... Note
gap on SPX cash at 4502 - likely gets filled today. Note
4500 reached on spx, very fast. 4hr bear divergence still there, not sure if it will pullback or not Note
bollinger bands reached on all the indexes - SPY, QQQ, IWM etc. I think they will pullback at least a bit here, but keep in mind the weekly BB is higher, so a consolidation here and further move up could certainly happen as well.
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