TradeSeekers

TradeSeekers

SPY pulled back Friday August 4th 2023 and broke down the daily 20 SMA, per the longer period SMAs SPY is still in an uptrend. Reviewing the various sectors since March where Dec 2022 lows were tested it should be observed that consumer discretionary and technology sectors are at highs and per RSI are potentially headed towards oversold but appear to have some...

TradeSeekers

ES now at pivotal area, 50% retracement of the down move at $4201.75. Staying neutral while paying attention to internals, news and data releases I believe will be just as critical as ever when attempting to risk in these markets. Strong candle formed buying all previous quarters selling from highs, so I do think there's potential for continuation to the upside.

TradeSeekers

Looking into what may be in store for the final moments of 2022 it can be seen there's a possible convergence between ES and ZQ signaling high downside possibility. Each time prior this occurred there was ~7% move over the course of a month and we are roughly around those metrics for this potential cycle.