Distribution in process... Looking for move to 104
$EEM is setting up to go lower, but distribution takes some time... Looking for pop this week or next to possibly develop right shoulder.
Still more downside... H&S distribution almost finished... May even see down move start next week.
$CITIGROUP looking for small dip... then move to 58-60. Financials are still on slow grind as they try to fight the downward momo from 2008 capitulation. They are not fast movers like tech's but when they move, the entire market responds...
$DDD, looking for 44.17 before heading higher... Got to test what we gained... :-)
$FB Should see FT at leg start, as it steps down... Will be looking for bullish progression on way down, which I am nearly positive we will see...
$AAPL... looking for nice bounces at 97.83 and 95.89(which is leg start). Sooooo Much money to be made... whether you want to play the intraday volatility or just ride it down,, then really ride it up... ENJOY those AAPL's... LETS ALL GET PAID!
Still short after today's massive pop and plop... I bought put at the highs and added OCT 197's... We'll see if this blows up in my face, but I think we are still heading down to test significant areas. The Higher Time Frame MOMO is favoring the BULLS, but we GOT to test what we just gained ESPECIALLY the weekly level... Looking for 197.56 bounce then 196.57...
$MSFT looking for 1st target of 45.14, followed by 44.82 after a bounce... Then time to go finish testing stuff from 2000ish...lol
$QCOM is setting up for nice move down to 73.65 or hopefully leg start of 72.85, then BIG MOVE up to larger SL
$SPY .... TOTALLY SPECULATIVE... THIS IS NOT HOW I TRADE... But just a possible scenario...
$IWM looks to show bullish progression on all time frames, and is finishing out exhausting this leg before PROBABLY making new highs... I will be looking for long position in $IWM tomorrow
Most people depend on indicators to help them determine whether good time to get in, but the fact is none of that matters. People must rely on price action. YES, the candlesticks themselves. They alone are your indicators. You can predict price action, targets etc... Here in $SPY we see that todays big bounce was nothing more than testing SL on smaller TF, also we...
$FB... Everyone bullish... but don't forget about START LEG 1st :-)
Looking for move to 87.23ish... Then go test the highs!
H Pattern very powerful... First test of SL...Looking for a break below resistance around 45-46(Eyeballing level)... Then UP UP & AWAY!!!!!
Would love to see new highs tomorrow or near the highs... Will be excellent time to buy puts in SPY... FOMC is blah blah blah... It just forces moves to happen quicker that were going to happen anyways. Lets get it...
$AAPL looking to make new highs very soon... Bearish momo almost completely worked off... should see a test around 100.20ish... I will look for long swing there...