All in the video - two options, the stronger is spx to about 4k in the next few days. Good luck!
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2 hr double bottom bull divergences. a move up to 4170 again is possible for the alternate B wave. Above 4120 and it's likely that's what is happening before a larger C down.
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next support at 4080 reached, if this breaks then we go lower to 4k. rsi already very oversold, so it may be a choppy day. If they reach 4k today, AAPL earnings may actually lift it up (maybe not as bad as some think)
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it does sort of look like an exaggerated head and shoulders pattern on futures, target would be around 4k, maybe slightly under...
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the "head and shoulders " could be a wyckoff distribution pattern.
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no guarantees, but this still looks correct as of now. Will update if I feel something else is going on...
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An Alternative here would be we are starting the B wave and AAPL helps push it up into Friday. Either way I think the market sells off into Mid May but it could be a chopfest first. RSI is already oversold so this is a real possibility.
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possible channel, watchout for a kickback rally
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IF this is an ABC (a big IF), then C has just reached 1:1 of A on spy, possible B rally from here is still possible.
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the channel is important for the price. If we move up overnight to 4115, we may come down in a 5th wave to 4000 area.
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if we rally from here, a larger head and shoulders may be forming - futures chart. A break of this level and it likely becomes resistance again. AAPL will probably help decide the direction.
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weekly 18ma is holding support, under it would be more bearish
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A pullback today would make sense, but I think buyers come in. If not I'll update. Green or Orange path is my guess....
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we are at the top of the channel here on futures. a pullback is likely but then a rally to 4140 makes sense. The C down (if I'm correct) will start sometime next week. Pattern looks to be forming a head and shoulders.
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any pullbacks likely get bought , we have broken above the channel and it's probably now going to be support.
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If no pullback then we are in a C of B and the market just grinds up for the day. It would likely be a bull trap then.
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SPY target may be slightly above 412.20 for B
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QQQ at possible resistance zone, watch for intraday reversal in this area or slightly higher. If they sell it and get down to the lows of the day by close, Monday will be ugly.
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I'm thinking we have a little farther to go, but I'm not sure so I'm collecting shorts slowly during the day.
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triangle for 4 looks correct, I expect one more high unless this breaks down.
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resistance here but it could go up monday to fill that gap....
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futures also at resistance here but another stab at 4180 by monday is very possible. still a B wave imo
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something like this would get the 4hr rsi to better levels for a sell off, but there's no guarantee it's going to happen.
