I was wrong about the retrace starting today, obviously. My apologies.
Two possibilities are shown. I do expect at least a retrace for tomorrow.
Could it keep going up? Yes for sure! Always use stops.
Good Luck!
Two possibilities are shown. I do expect at least a retrace for tomorrow.
Could it keep going up? Yes for sure! Always use stops.
Good Luck!
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Two targets more clearly shown here
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Good Morning - We're starting to get potential bull divergence on the 15 minute chart - just a word of caution. I will wait to see how the open goes before picking a position today. Good Luck
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Pink (Fuschia?) trendline from yesterday on SPY may get tested at open, worth watching to see if it tests and fails there.
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That may be it for the pump, I'm not sure. Doubtful it will get to the trendline as of now.
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Dollar is recovering, if it gets stronger through the day, SPX "should" weaken
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Futures playing with this channel - if we break above it's bullish, if we break below it's bearish. Be aware that they could pop up or down and then reverse it very quickly.
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Possible bear flag on SPY target about 242, also this trendline seems to be important to price - maybe it tests it again and then fails. Just a heads up
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resistance in this area, shouldn't get much higher IMO.
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Gap from this AM should get filled.
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So far, price is just retracing into a bear flag, so I think we may sell the close. There's also an argument that this is a Picasso-like Head and shoulders. Either way, the target is the same.
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Maybe a spike through the channel to take out stops
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they are just creeping it up and probably will for the rest of the day it seems. The gap is at 260.
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Futures have resistance near 2605, also the larger channel trendline is there. many times they like to retest the trendlines, we'll see
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gap filled on spy, that may be it - or not
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This is looking better now. They could pump it up at the close to take out stops, be careful. OK everyone have a great weekend, sunship signing out
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Note that we are ending the week below the 200 MA
OK nice day of trading - thanks to everyone for the good comments!
OK nice day of trading - thanks to everyone for the good comments!
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2 paths I'm watching for tonight and tomorrow. Limit down for the futures is at 2404, which is close to the first target. It's possible they sell it to that area only to save it at the last minute. Either way, I will take 1/2 profit if we get close to 2404.
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Channel from Friday shaping the price at open. Above the gap is bullish, under the channel is bearish. They may fill the gap and then fail there. Hard to say right now.
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ES broke above channel (chart is delayed so I can't post it now). Tested channel and now moving higher, Expect at least a bit higher tonight - to the gap at least
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Expecting the gap to get filled and possibly test the channel trendline tonight. This chart is in real time (unlike tradingview) invst.ly/q9yke
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Currently testing the channel. I forgot that tradingview will not allow me to post charts outside of trading view (I could get banned). So basically if we get below 2474 that channel test would be a failure.
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they are keeping it close to the channel. it's possible we spike through it and hit 2474 and then they save it. Something like this for example. I think the target is clear although they may want to get above it to squeeze out shorts.
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Potential bearflag with target around 2280. Keep in mind this is what friday looked like after the gap down and they creeped it up all day to fill the gap first. May be the same thing tonight.
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Inside this channel, hasn't broken down yet.
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Spike through the trendline to stop out longs, this is why I don't put stops near a trendline. So far channel is still holding.
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Gap filled on futures, they may sell it here or push a bit more to squeeze shorts. Stops are set above 2555 in case they do. Above 2555 and the larger channel will be broken bullish, so I don't want to see that. I need to sleep, will update tomorrow morning with a new post. Good night all
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2555 (pink line) needs to hold, they can spike above it, but it needs reject there.
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They are hugging this trendline. Expecting a spike up above it at open and then a failure, but not sure.
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They already reached the target I mentioned. I think they may try to get to the main channel in an abc formation, we'll see.
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sell signal again, will reenter short on a pullback and keep the stop above the final high, good luck
