SPX - Bear capitulation possible next week.
All in the video, I give my reasons why a push to 4630-40 makes sense before a bigger move down. Gold and SIlver looking more interesting now, Oil still near support levels but needs to get over 78 to create any start of momentum. Yields also starting to break up to the upside which may get ignored by the market for a few days.
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good morning, the channel broke last night, I think we should at least test it again, let's see how the day goes. We may not get to 4630 after all....
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Yields may gap fill first, but it still looks bullish overall for the week.
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market making it's way back to the channel, but DJT and IWM are both quite weak today, sometimes a leading indicator.
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A little selling overnight, very dull action. I will reiterate the old adage "never short a dull market". We're at support, if it breaks, 4520 may be the target, but I dislike the RSI here for bears on futures. We could just simply chop for another day.....
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still holding support bears need to be cautious - rsi is very low right now.
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Yields retesting breakout, gaps above. RSI hard to read, could go lower....
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spy filled it's gap this morning - the next one below is 4446 area. Bulls want to hold this area, I think they probably will, but you never know....
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so yes, they held it - no surprise. Probably get back to the channel again with more bear divergences....
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2 hr rsi on futures with plenty of room to run to 4600 and create more bear divergence. I think it could be a spike tomorrow with the 830 numbers, then we'll see how it goes after that....
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the little sell off today doesn't mean much - 4 hr rsi still plenty of room to go up - 4600 or more still the goal as far as I'm concerned.
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there's the push I was expecting, ok so 4 hr rsi now resetting to make another bear divergence. 830 numbers may spike it up to 4600 area.
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a little higher perhaps, but QQQ is getting close to target zone.
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looks like a capitulation on put/call.... we'll see
