xrischosser

04:07

xrischosser

Daily review for the major indexes with focus on S&P 500. Expecting volatility today around the Federal Reserve announcement at 2pm. Since the market swept liquidity at the bottom yesterday, slightly bullish tendency expected today.

04:52

xrischosser

Expecting the price to reach lower today to close out the Daily FVG from the week of Aug 28th. Price likely to continue to trade in the range that we have seen since the end of July. Major economic event to pay attention to will be the Federal Reserve's interest rate decision on Wednesday at 2pm ET. Expect the Fed to hold the rates steady for now.

01:56

xrischosser

S&P Index is heading south again. The price is likely to continue to close out the Gaps it created in the last week of August. Looking at 4433 as the next sellside target before any movements.

02:57

xrischosser

** This review is purely for educational purposes. No advice being rendered. Doing it purely for self-improvement in chart reading,** S&P 500 looking Bearish for the day. Top down analysis: Daily comparison of Dow, S&P and Nasdaq * Nasdaq showed most resilience yesterday and traded with a nice price range * S&P has been trading in a range yesterday before...

02:51

xrischosser

Strong bullish momentum likely to continue on S&P 500 as long as NASDAQ goes along (the two indexes are strongly correlated given that large market cap companies overlap). Fed Decision today at 2pm. Will probably create jitters.

xrischosser

SPY has been a nice recovery. Since October it is up almost 21%. On Fib, SPY is trading above the 50% line and it is trading above the 200 simple moving average. What has given SPY the rocket fuel most recently? 1. Earnings holding up better than expected. Mike Wilson's expectations of earnings drop did not come true. 2. Labor market is staying strong and...

xrischosser

So indicators like RSI and MACD are showing that CME_MINI:NQ1! is getting to the oversold level (On monthly timeframe RSI we are at -30). So are we ready for a bounce? The technicals are hinting at "YES" but the macro fundaments... are saying "NO" The Fed admitted yesterday that it is behind he curve on the inflation. The Swiss Central Bank and EBC showed...

xrischosser

Nasdaq 100 has breached 12,400 level today and S&P 500 is nearing 4,000 mark. If the indexes breach these levels we will likely see a further decline. The next support level at 11,000 and then at 10,000. The leveraged positions are likely to start unwinding as investors capitulate. A brisk rebound is unlikely as the interest rate hikes and inflation have...

xrischosser

The Nasdaq took a major dive after Bernaird's speech yesterday, in which she said that a more aggressive stance on fighting inflation. Nasdaq went down a lot more than S&P and Dow30. The MACD is showing that Nasdaq is oversold (market overreacted) so would expect a rebound post 2pm ET Fed Minutes release. Could use TQQQ and SQQQ to structure a trade.

xrischosser

NASDAQ 100 (index for ETFs QQQ , TQQQ and SQQQ) ran up just over 2% yesterday. It is hugging a very steep recovery trendline and it again looking to retest the resistance at around 15,270. MACD suggest that the index will drop lower but one could expect that it will aim to test the resistance. Any booster shots like yesterday's Musk's news on Twitter and Tesla...

xrischosser

Looks like the market run up this morning is loosing steam.. the market is consolidating and would expect to give up some gains before improving towards the end of the day. Dow and S&P are both in the green but a lot more timid. Will wait for the MACD to cross before getting back with longs. Would expect NDQ to oscillate between 14,750 to 15,250 (support and...

xrischosser Updated 

looks like the market is consolidating after the correction. would expect a move upwards to build up but the macro news can impact the confidence.