- $SPY $QQQ bear had all its chances to bring QQQ down after a bear break this morning out of the tightening range we had in the last 4 days but bears couldn't follow through. - Want to see QQQ Bulls gain back its hourly uptrend and break above 308 area of resistance. - want to see XLF / KRE bounce for SPY & SPX to break out of its equilibrium bull. of course...
- $QQQ about to break its tightening range, this will be very important for TSLA, - currently TSLA does not have enough relative strength to hold up if QQQ breaks bear. so it will likely break bear with it. - Bullish pattern: Daily Inverse H&S Weekly Cup & Handle - XLF / KRE gapped up nicely but bear took over after cash open.
This financial has been holding up very well considering XLF & financials have been obliterated. One of the very few relative strength financials holding above key daily moving averages. If financials see a technical bounce this stock will likely breakout to the upside.
there is a bearish abcd pattern inside a bullish cypher set up. im shorting the c leg of the bullish cypher (d leg of the bearish abcd pattern) to the D leg of the bullish cypher which I have around 19.59
- QQQ Equailibirum key break will be Monday which will determine which way SPY is going to move. - SOXX / SMH turning from lead bull into lead bear today, weakest sector since Dec 2022. May drag down QQQ if it continues. Will short this sector if it continues on SOXS. - SPY bulls want to see a hourly uptrend form, Bears want to see QQQ bear break Equilibrium...
- QQQ equilibrium pattern is going to be key break for which direction market is going the next couple days, - XLF KRE bear break to new lows will break QQQ equilibrium bear and then drag SPY down even more. - Yellen flip flop - no deposit guarantee yesterday to today it will be. (the more they flip flop back and forth the more we see them as less confident)...
- Looking for a hourly Bear flag on SPY and QQQ after this huge move down. - XLF and KRE top watch to see if we break fear lows/52 week low. Fear would likely come back in if we do break the lows - looking for SOXX/SMH to go from lead bull turning into lead bear - Rate hikes is a head wind more for QQQ then SPY, so after Powell saying no rate cuts this year, we...
With major weakness in the banking sector we are still seeing the contagion play out. Some banks are more at risk than others. Based off of a blow out in Credit Default Swaps. The bond market is showing there is tremendous risk in this bank. Just like Credit Suisse CD's blew out befroe the collapse, we are watching COF credit defaults blowout.
- NASDAQ QQQ and SPY closed near resistance QQQ im looking at $311 daily time frame triple top. - FOMC 25BPS tomorrow 80% chance, need to see in Powell's speech if this is our last hike or we get a pause, also information on the banking situation too. - XLF is going to be key factor tomorrow for SPY's direction, went completely sideways today will break...
- KRE and XLF still in a bear flag territory, Both are closing in on their tightening range and will break very soon either tomorrow or Wednesday. we will get a lot of volume and volatility once this breaks. - QQQ & SPY have a Triple top resistance, if XLF break bull SPY will very likely break that resistance, so will watching all 4 closely. - FOMC Wednesday...
- XLF holding triple bottom support 15m, holding above yeseterdays low bounce off of it 3 times today, first initial sign for the bulls. Now bulls need the hourly trend change for XLF back to an uptrend to help SPY - QQQ's drop may seem a lot today due to how fast we pulled back from the morning but we are still way above 0.386 fib retracement on daily therefore...
- 7.5% move on QQQ/NASDAQ in 4 days. AAPL and MSFT now hitting key resistance, will be watching to see if it can break above or not for QQQ to continue. - likely a slight pullback hourly consolidation for QQQ before attempting another leg up. - after ECB hiked 0.5% this morning our rate hike of 25Bps increased to 80% chance this morning. - XLF hourly bullflag...
- PPI data came in better then expected increasing the likelihood of a pause to 50-60% - XLF gapped down new lows but closed around cash open area, meaning there wasnt a lot of bear follow through after the gap down. The first sign bulls want to see is XLF holding its lows and start to bounce or even just going sideways is good for tech bulls. Bears want to see...
The chart posted is the first part of what I see as a Fractal Design back in 1986 to 1990 Recession I will post that as well
Bank of America (BAC) shows a lower low bearish sequence from 1.10.2022 high favoring further downside in the stock. Near term, cycle from 2.8.2023 high is in progress as a 5 waves Elliott Wave impulse. Down from 2.8.2023 high, wave 1 ended at 33 and rally in wave 2 ended at 34.56 as the 1 hour chart below shows. The stock resumes lower in wave 3 with internal...
- CPI data came in expected today, excpet core is 0.1% hotter market didn't really care since we need something really hot to not get a 0.25bps - PPI data likely will come in expected as well today, since CPI was pretty aligned so technical matter more now - SPX came close to 200 MA today rejected the 3940 area but QQQ is above 200 MA - QQQ and SPX reject...
To be honest i don't know where XLF will go from here. With my current skill level and studies, I think we can go a little more lower. What do you guys think? Comment Below
- CPI data tomorrow will likely determine if we can break that triple top on QQQ - money rotating around today to tech sectors no a complete FEAR day where money is leaving the market. - KRE / XLF ETF needs to bounce for SPY to bounce - 0.25bp current priced in at 62%, and a pause at 38% - if we break that triple, im looking for a daily bounce and would liking...