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SPX setup for traps

Od the_sunship
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Another wedge structure like last week, and like last week, we broke out of it overnight. A retest of 3900-3980 with Jobs numbers at 8:30 and then pump on open is what I'm thinking, but it doesn't mean it's GOING to happen. I do like the idea of testing the daily 18ma currently sitting around 4k - this would be one way to get there. Good luck!
Uwaga
Closer view snapshot
Uwaga
welp, jobs numbers came out and we're just going up, so watch the 18 daily ma at about 4k area for resistance. I still think a test of it and rejection is possible. Above the 18ma (4k) on a daily close and we're going higher. Maybe the 5th wave is in on futures. snapshot
Uwaga
daily chart with 18ma target snapshot
Uwaga
something doesn't look right, we could have a sell down still and then pump up tomorrow, I wouldn't do anything until i see levels I want to see - 3900 and under for a long trade (with a tight stop), or 4k for a short (with a tight stop). I have errands I need to do so I'll update when I can. Good luck!
Uwaga
also noticed this structure, watch for this was well. snapshot
Uwaga
possible target area reached, taking a shot with tight stop. looks like a cup and handle, but I don't know. snapshot
Uwaga
shouldn't get any lower than that, tested trendline from wedge. 4k probably by today or tomorrow considering how much retail is short equities. Good luck snapshot
Uwaga
equity put/call ratio ycharts.com/indicators/cboe_equity_put_call_ratio
Uwaga
at resistance here, took a little profit just in case this is a bull trap now....
Uwaga
AAPL looking like a C of 4 - be cautions if long. I put stops in profit. If they pullback to 3900 by tomorrow (weekly 18ma), it would rek most traders and likely trap bears before the move up to 4k (if that happens, I still think it will). snapshot
Uwaga
if the 4th wave C was the high, we should see selling all day from now for 3. Personally thinking this is correct and flipped short for a day trade.

snapshot
Uwaga
transports relatively weak today. This is looking innocent enough but I have a feeling we'll gap down hard tomorrow. Could be wrong and that's fine. Small short position for overnight
Uwaga
Spinning top candle on spy - indecision. It's possible that the cluster of MA's above are too obvious a target. I think lower BB will be hit first, and probably tomorrow. snapshot
Uwaga
Equity put/call dropped today to .68 ycharts.com/indicators/cboe_equity_put_call_ratio
Uwaga
Index put/call dropped as well - ycharts.com/indicators/cboe_spx_put_call_ratio
Uwaga
snapshot PPI came in hot. Watch the trendline, if it breaks it's a solid short. Still should find support at 3900 with the weekly 18 ma. A close below 3900 would break the weekly 18ma support and the larger bias into next week would be down.
Uwaga
Daily 18ma - market got close, but PPI slammed it before it touched. snapshot
Uwaga
potential target if it's a bear flag is 3800 snapshot
Uwaga
i dislike fast moves up or down and this is why. Potentially they can push it to the 18ma and then reverse it again. watch for traps snapshot
Chart PatternsS&P 500 E-Mini FuturesTechnical IndicatorsSPX (S&P 500 Index)SPDR S&P 500 ETF (SPY) Wave Analysis
the_sunship
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