weekly preview - SPX GOLD SILVER YEILDS USOIL BTC
All in the video. The market is trying to decide whether to go lower or not. Hard to say at the moment. Under today's low and we probably go to the daily bb around 4640. A break above 4720 and we could rally to 4750-4770. Right now there is no panicky selling, but any rally from here I believe is a selling opportunity. Other markets are also interesting. BTC may top out soon but I expect one more high close to 50k....
Good luck!
Good luck!
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Good morning, the market is consolidating at 4700. While it's possible we go over 4730 today, chances are it will reject if it does. I expect lower regardless of any pumps (if they occur).
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OIl is back into it's channel - Looks like another low is likely there.
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trendline on gold corresponds to the daily BB - around 2k or so.
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if 4730 can break and hold it's bullish. I'm not sure it will happen yet.
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banks are down today (JPM leading) worth watching for a breakdown.
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we are consolidating sideways. It may go higher, but the smaller time frame RSI is already overbought. It could chop around here as a B wave for a few days. If that's the case, a C wave would be next.
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daily 18ma (red line) is another objective short area for SPX
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shorts blown out and we are above the 18ma near the mentioned target of 4770. With the rsi this high on futures, I think we'll come down either starting tonight or sometime tomorrow. If not, another high may come before CPI on Thursday. Neither would be shocking at this point.
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BTC in the target zone but the rsi suggests slightly higher.
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cup and handle target is close to 4780, so a float up to there overnight is probable, see you tomorrow
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Good morning, we are at the 18ma on futures. A move up to the upper BB at 4800 is possible, but right now my primary idea is we go down for a few days at least. Will update if it looks wrong.
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18ma has to break this morning and then a retest of it needs to fail.
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iwm false breakout is sticking. next stop should be 188
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xlf (banks) may lose trend today. Bears want to see it get under 37.5 (18ma)
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SPX back to daily 18ma, this is an objective short, but needs caution. Buy the dip still the game until it isn't
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good morning, price and rsi both look like they want to go higher from this pennant into cpi tomorrow.
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looks like a false breakout but they've done this before and rallied up again, best to wait for previous support to crack.
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market is consolidating, but 4 hr rsi and daily look like they will go higher - at least for now.... if that is the case, IWM probably bounces back up to 198 or 200.
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if this is a bull pennant, minimum target is 4860. I think it's doable. We'll see how it goes tomorrow..... CPI at 830!
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to me right now it looks like we will go higher after CPI. Target 4860. If wrong I will update.
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BTC target probably will be hit today
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CPI at 830 am buckle up
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may be this -
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Under this support and it's a sell, no decision yet.
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IF they continue higher, there's another structure on futures for possible target.
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this is what it looks like to me right nw.
Open should pump above 4800 to take out shorts....
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main idea for today
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BTC target area reached, Maybe it hits 50k, maybe not. I think most are thinking it will.
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they are losing the wedge, that may be it, not sure yet.
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down we go
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BTC offers an objective short on any bounce
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SPY and SPX 18 daily ma reached, should be a bounce area
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i was away most of the day, they just came back to test the wedge. I expect lower friday, but this action is not impulsive at all so a sell off to support likely holds. Tomorrow may look bad, but I doubt it goes more than a day.
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They are bucking this like a bronco and it looks right now that another high is on the table to close Friday. Will update later if wrong, I'll be out most of today.
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Today's idea - SPX
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here's another way to see it - above 4792 and it's a long.
