All in the video. This is an important level for bears and bulls - weekly BB and horizontal price resistance togther at about 4540-4550. 4550 could come today but this level should at least see a pullback. Strengths for the short term - IWM weakest, SPX medium, and QQQ strong,
Good luck!
Good luck!
Komentarz:
good morning. the pop on futures this am should not last according to what I'm seeing. I will update if wrong by the end of the day.
Komentarz:
gain IWM looks weakest, SPX medium, and QQQ strongest
Komentarz:
SPX pulled back late in the day but it looks like it may go higher - to the trendline maybe target overnight. Daily rsi getting close to extremes again.
Komentarz:
still looks like a push up is coming today, if so I would think that would be rejected.
Komentarz:
all the way to the trendline again - relentless.
Komentarz:
Iwm at an interesting point if this is a triangle.
Komentarz:
this is how it ended, and we hit the weekly BB today. 4hr with bear divergence again.
Komentarz:
hourly and smaller time frames look like they are saying another high today
Komentarz:
still an enormous gap open on futures at 4300.
Komentarz:
we are still in the resistance area from last year on SPX.
Komentarz:
trendline reached again, let's see if it means anything.
Komentarz:
30 minute rsi low again, one more high would not surprise me - into the close or overnight....
Komentarz:
doji on SPY, means nothing yet. Let's see how the numbers are reacted to tomorrow morning. It was an interesting close, not exactly bullish but I can't tell if it means anything for overnight.
Komentarz:
2 hr chart, the trendline held so far.
Komentarz:
good morning, if we sell down 4530 will likely be support. Also the hourly rsi will be very oversold if that happens so it could be a choppy day into tomorrow.
Komentarz:
this should be resistance here, but we'll see. RSI is low on small time frames, they may just pump through it.
Komentarz:
IF we keep selling (that's a big IF) this channel may get tested again at it's lows - also horizontal support there.
Komentarz:
if it's a bear flag on QQQ, target is the previous gap around 373
Komentarz:
if they get down to 4520 area, there's a chance we are making a head and shoulders here (a chance)
Komentarz:
Good morning, the hourly and small time frame rsi got pretty low yesterday so a bounce this morning isn't totally surprising. It could ramp up the entire day and make a new high, which would be typical of this market lately. Right now there's another possible trendline we're testing. A failure here would probably mean a down day.
Komentarz:
watching these possible paths -
Komentarz:
maybe this until afternoon....
