Targets: 7355, 7276, 7231.
Targets for today: 7355, 7276, 7231
No words needed, a picture says a thousand
Coming up to ATH resistance I believe we are in for a strong reversal as well most of the risk is better played to the downside at this point. coming down to 7K first target then to 62500
The market made a significant move today driven by a panic buying of beloved FANG stocks and especially the Apple. The Globex session suggested a weak opening especially after yesterday's FOMC move that was completely faded. But the buying from getgo immediately set the tone. In such days it is not easy to get on board. The Algos were in a rush to buy, like there...
After the FOMC announcement the NQ exploded to upside tagging the next major resistance. After that the sellers managed to fade 50% of that move. This is a typical reaction when the price makes a new high. ES, YM and RTY had less success to sustain that move. The Feds decision impacted the financials and that started to drag the broader market down. The FANG...
The price trended up during the Globex session and the RTH opened right at the resistance: 7399 gap. Considering the stretched move it was a higher probability for the longs to cover (the overnight repository was 100% long) it was worth to attempt a short setup. That idea worked. The buyers were active at the support and after a lengthy chop they managed to break...
In the RTH, the buyers were active from getgo not giving a chance to enter long. I’m sure it is annoying for retail traders but this is the current state of the market. Seeing some divergences one need to be careful with longs from aggressive location. I was thinking about a short opportunity and was looking for a failure. The QQQE index that tracks Nasdaq equal...
In my previous idea I said that the Friday's price action suggested a potential false breakdown out of the multi-day consolidation area. Today, it was confirmed by a trend up day across the entire consolidation area. This is what is expected. When it comes to a false breakout or breakdown of a mature balance there is 80% chance to fill that balance from edge to...
Our researchers believe the NQ and YM chart illustrates a very different dynamic which is currently at play in the US Stock Markets. The NQ, the Technology heavy NASDAQ futures, appears to have stalled near the 75% Fibonacci price retracement level whereas the YM, the Blue Chip heavy DOW futures, has already rallied past this level and is setting up a “double...
If you follow my research, be prepared for an immediate downside rotation starting near March 5th ~ 11th that will likely result in a -5~8% downside price swing. This will NOT be the massive crash that so many other people are predicting. It will likely end as a momentum base setup near the -6% levels that I'm suggesting for the ES and YM. The NQ will likely...
A revised chart with a smaller timeframe to see the action. A weak Globex session ended with a snappy buying from the RTH opening. It was a typical morning when the buyers don't give a chance anybody to get in at a good location :) 15 min later the Algos heard the news and reacted quite strongly shaking out buyers. The herd behavior is their signature. They...
A gap up in Globex session set the futures into breakout mode across the board. The RTH session spent time processing this breakout and confirmed it so far. As long as the price remains above 7100-ish the breakout would remain intact leaving the buyers in charge. This is a typical market action. Usually, shorting is not advised when the market is in the breakout...
The multi day balance is quite mature and the breakout of either direction is highly probable. Carefully observing the recent price action the odds are higher for the upside breakout. Almost every session had a liquidation move which was successfully bought and reversed. Friday's action is no exception. The low odds scenario is a balance breakdown. However, the...
Today, the Globex buyers, driven by the news, made a marginal high and got just shy of the projected first target - December 2018 high. Before the RTH opening a few Econo reports helped to move the price lower. It was a bearish start that offered a short setup. Earlier in the morning the buyers regained the control and completely reversed the price filling the...
No call this week. The Breadth readings on the indicators I follow are all still rising. The Sentiment indicators I follow are all beneath an extreme reading. The Technical indicators I follow are all showing resilience despite their overbought levels which only confirms the trend. The Economic indicators I follow are quite mixed, some are turning from bearish to...
Probably not the structure that bulls want to see in this area. Today is a FED day so we could see a resolution (either today or very soon, not much room to run from here to invalidate the setup either way ). Reality Checks: - At Daily Leg Start? Y - Daily trend is in synch with position? Y - Clear Accumulation / Distribution pattern on 60'? Y - It's easy to...