JB7oh2

JB7oh2 Updated 

That head and shoulder pattern I drew last week was perfect I hope you guys and gals made money on it. We bounced off the 50% retracement next is the 61.8% pullback possibly Thursday. If we hit the 78.6 pullback I will be looking to go long on a small position. I believe a short squeeze is setting up for next week. The month of August is a slow month the feds take...

JB7oh2 Updated 

First off the Choco Taco has been discontinued what is this world coming to. The head and shoulder chart I posted Friday is looking real good. A neckline break at the .28% is what I’m looking for to hit the .50% Retracement. The rally at the end of the day was a bull trap also the daily candle is a inside bar that closed red witch means red days should follow....

JB7oh2 Updated 

Wild week for sure once I turn bullish it’s to late lol. Anyway looking at this 1 hour chart things are looking bearish, now expect a little rally up then you know how it goes. Hope your week ended green if not remember risk management is the most important factor in this business. Infinite return of money is right there. As always trade what’s in front of you...

JB7oh2

Only made this to have a future reference and playback the candles. Every crash is different obviously but compared to 08 we are half way there. Also why is it any time I here ‘we’re half there’ I sign that song

JB7oh2

After that pullback this morning it just ripped, people really want to fill this gap but the low summer volume isn’t helping. Use the fibs to buy calls in the golden zone pullbacks on the 3 minute & 5 minute charts wait 15 to 30 minutes to establish the low then hit it. A 395.50 pullback would be awesome let’s see where we open. Also keep a eye on DXY the dollar...

JB7oh2

Bear market relief rallies love to trap Bulls be careful out there. That being said I think the market is a little over extended might take a break tomorrow and chop up premiums good old theta killer day. I don’t have much other than the channel we are in. I like how the high of the day bounced off the -.10% on the fib, when trend continuation’s go they like to...

JB7oh2 Updated 

Is this why we are having a rally? A weak dollar makes a strong market and vice versus. Some thing to keep a eye on

JB7oh2 Updated 

Well I was wrong with yesterday’s prediction seems a lot of people and algos think 390+ Is good. .618 made a full extension I may need to move the fib higher if we break 393.16. Let’s see what tomorrow brings. Labor demand has dropped, housing demand has dropped and income has dropped. Macros are all there and they are nasty I can keep going on them. Maybe they...

JB7oh2

So far spy is following the candles I laid out last week. Nobody wants to buy at 390 knowing we are in a down trend bear market I believe that gap everyone wants filled 395.78 to 401.44 is not going to happen anytime soon. There’s so much fear and uncertainty right now that we will stale out until FOMC comes in also GDP numbers will confirm that recession is here,...

07:25

JB7oh2

in this video i talk about trading the first 30 and waiting for the high or low to get established i hope this helps.

JB7oh2

Bull algorithm went crazy today some say dead cat bounce other say short squeeze I say trade what’s in front of you. The only thing I believe is we stay in the 371 to 386 range until we hit the fed meeting FOMC will then change the direction of the market. The added bars in the chart are just fillers. The .50% .618% .782% are the pull back plays, pull from the low...

JB7oh2 Updated 

CPI comes in at 9.1% a new 41 year high and the market says “hold my beer”. One thing I’ve learned is don’t fight the trend of the market it will always win. Seems like the bull algo is running the morning and afternoon leg, then 30 minutes to the close the sell off hits. I believe 383 is in play tomorrow. As always trade what’s in front of you good luck out there

JB7oh2

We are right on target for 377 we could hit 374 very easily also we have a gap fill @370 to keep an eye on we could hit that by the end of the week then the squeeze plays will come into effect all the bears will be profit taking covering their positions and we rally to who knows where but 7/27 is another important date so green next week into the next FOMC...

JB7oh2

Play back yesterday’s chart we ended up right at the .28% and once again the lowest volume we have seen in awhile. That being said I still believe we hit the target by Wednesday 377. These little rallies in a bear market are normal but everyone gets on that hopepium wishing they caught the bottom there’s still to much uncertainty and fear of a recession everyone...

JB7oh2

After failure to break 391 last Friday I believe we are in uncertainty territory since the rest of the world is putting out record numbers on inflation. I’ll be looking for puts if we break below 383 I mean da bulls had all the momentum on there side and still couldn’t fill the gap also low volume and 6 Green Day’s in a row I think we are going to break that...

JB7oh2

If tomorrow is anything like today we should have a green Friday .5% 389.81 & the .618% 396.33 look like they are ready for some attention. Yesterday I said watch the first 30 minutes for DA BULLS looks like they showed up, but not with much volume witch is scary how much it moved today so if LOTTO Friday shows up we are off to the races. 5 Green Candles in a row...

JB7oh2

After a crazy FOMC day the next day we all know turns red and choppy still money to be made and lost that being said here’s my prediction. I’m pulling from 7/5 low since today was a pump rally thanks FEDS we hit the .50% level then bounced off the .382% a couple times, looks like 2 complete extension have been performed we should be pulling back to the .618%...

JB7oh2

This morning we gapped down and rallied hard in the afternoon everyone is buying the rumors of Tariffs being lifted this week with china not the best move especially if china doesn’t lift theirs but here we are with all of fintwit bullish tomorrow FOMC minutes with no Powell speaking so I think we rally to 387. Today’s OUTSIDE BAR has trapped a lot of shorts if...