priceactiontds

priceactiontds

Good Evening and I hope you are well. comment: Trading range price action. Elevator up and stairs down today. Helps no one and we have to wait for tomorrow for a clear direction. Market is oscillating around the 1h and the daily 20ema. Fade the extremes until clear breakout. current market cycle: trading range key levels: 18580 - 18800 bull case: Bulls...

priceactiontds

Good Evening and I hope you are well. comment: Good follow through by the bears and a clear break below the bull channel. If we continue down from here, I would be surprised. More likely is another retest from the bulls to 83/84. Selling is strong enough that we have a decent chance of 84.52 being the high of this bull trend that’s now over and we are in a...

priceactiontds

Good Evening and I hope you are well. tl;dr Bears broke the bull trend line for good and market is now fighting for 56000. Bulls want to get back above 60000 to make this a bear trap and keep the trading range alive. Bears want to keep it below 59000 and the bull trend line. Odds favor sideways movement 56000-59000 until the next breakout and my money is on the...

priceactiontds

Good Evening and I hope you are well. tl;dr Bears last stand is 84 and my choppy outlook was drawn 3 or 4 weeks ago. My outlook is the same as last weeks. More sideways movement under 84 needed until bears give up or bulls strongly break above again and we will then most certainly see 86 fast and decent chance this time they get to 90 again. I lean slightly...

priceactiontds

Good Evening and I hope you are well. tl;dr gold: Strong consecutive bull bars in a trading range but still a lower high. Once bulls break above 2406, market is free to go back above 2440 but I wait for confirmation. Bears not having good arguments here for reversing this. Only a strong 1h close below the 1h 20ema would raise the odds for the bears. Quote...

priceactiontds

Good Evening and I hope you are well. tl;dr sp500: 3 Best looking bull bars very late in the trend, breaking above two strong resistance lines. 75% that this is a bull trap and we break down Mo/Tu below 5580 and be on our way to test the daily 20ema and the lower bull wedge/channel line. Will short this on weakness on Monday. Next 500-1000 points are made to...

priceactiontds

Good Evening and I hope you are well. tl;dr Friday I wrote on twitter that the highs are probably in and I will stand by that. Can I be wrong by another 100 points in the sp500? Sure but I doubt it. The patterns to sell down are aligning on the monthly, weekly and daily tf. The buying was more than climactic and we can see enough indicators pointing down or are...

priceactiontds

Good day and I hope you are well. Last time I talked about Nvidia was 2024-06-08 and Nvidia was at 120.8 and my targets were 130/140. We are after the stock split so it's time for an update. comment: Please check out my nvidia #4 post, to see how accurate it was. I wrote that once the W5 or third push up is done, we will see a 10-20 bars sideways to down...

priceactiontds

Good Day and I hope you are well. JP Morgan / NYSE:JPM comment: Clear bull wedge, which means buyers at new highs taking profits and since it's the third push up, the probability of a two legged correction breaking below the wedge is decent. Market touched the weekly 20ema 2 times over the past 3 months and the third time will probably happen soon. We also...

priceactiontds

Good Evening and I hope you are well. comment: Bitcoin did most of it’s drop in the Asia session and finally touched the bull trend line beginning 2023-10. It’s the do or die moment for bulls here. I do not expect this trend line to be broken on the first touch but if bulls fail, it will become a quick flush down to at least 52000 to close the bull gap. Since...

priceactiontds

Good Evening and I hope you are well. dax comment: Uneventful trading was expect, since US holidays mostly go sideways in a tight trading range. Market had a good spike at the open which had to be faded and that was the trade of the day. Other than that, market is oscillating around 18600, which is 25 points above the open of the week/month. It’s do or die for...

priceactiontds

Good Evening and I hope you are well. dax comment: Globex was the low of the day and bulls just bought relentlessly since the EU open. 3 doji bear bars on the 1h chart today will make follow through likely but we are again at the bear trend line in this big triangle and that line held 4 times now. Betting on a breakout is a losing strategy. Wait for it to...

priceactiontds

Good Evening and I hope you are well. overall market comment Indexes - SP500 and Nasdaq outdid themselves today again. You still can’t convince me this is another breakout above. SP500 is still marginally higher and it’s a trading range at the highs. Nasdaq broke above the bull wedge and channel and I absolutely expect it to fail over the next 1-5 days and...

priceactiontds

Good Evening and I hope you are well. nasdaq e-mini futures comment: What a bull day… Just straight up buying all the way up. Market did not touch the 15m ema once since 30mins before us open. Happy for everyone who were long since below 19970 and held. Still a lower high but given the strength of today, some follow through is expected. current market cycle: ...

priceactiontds

Good Evening and I hope you are well. overall market comment Indexes - SP500 and Nasdaq had bull trends from the open and almost went up in one straight line on higher time frames. Both produced lower highs but given the strength of today, we can expect some follow through tomorrow. If bears somehow manage to reverse here and keep the lower highs, there is no...

priceactiontds

Good Evening and I hope you are well. dax comment: Funny thing for me is the fact that ath to June high is about 200 points, June to July high now is about 200 and low of the week was 200 points below that. Markets eh. 4h chart tells it the best I think. Market touched the big bear trend line from ath and was rejected heavily. Bulls have going for them that the...

priceactiontds

Good Evening and I hope you are well. overall market comment Indexes - Quick one today because markets did the obvious thing and we learned nothing from this trading session. Commodities - Gold is not worthy to be written about today. Oil was bullish as expected to 83.40 and 84/84 were my targets for many weeks now. Bulls can do some more here but it should...

priceactiontds

Good Evening and I hope you are well. bitcoin Quote from last week: comment: Guess what. Anyone looking at this chart who tells you to buy for anything higher than 66000 is a permabull in denial. The last time a daily bull bar closed above its midpoint was almost 3 weeks ago. The bull trend line from 2024-02 is clearly broken. Market touched the weekly...