SPX - turnaround Tuesday and Oil - ready to move higher
מעודכן
Both discussed in the video. The SPX resistance level of 4340 is an area where an objective short can be tried. It may go higher but I don't think by much. Oil is almost done consolidating for a bigger move to the upside. Possible cup and handle target would be $120
Good luck!
Good luck!
הערה
no selling yet - QQQ looks like it wants to get to 372, then we'll see.... הערה
OIl still consolidating. הערה
to me the count looks like this - sideways B and we're in the middle of C another wave up on C makes sense but not too much higher. The whole correction looks like WXY הערה
false breakdown on oil - to take out stops I assume - may breakout today. הערה
Good morning, we may have topped yesterday, I'm not sure. PPI this morning and FOMC minutes at 2pm so it may be a wild day. I'm watching this channel, we are now on top of it, back into it would be bearish but we could go back to the top of it again. That retest may be a short opp. Also strong support at 4340 should not be ignored. הערה
OIl looks to be breaking down, so it should be a strong move down from here unless they save it soon. הערה
the channel could also be like this - in which case, they may sell it here at 830. הערה
2nd stab at channel, short opp הערה
Oil double bottom - may reverse here - over 86 and it looks better for bulls. nothing decided yet. הערה
watch for a potential break and fail. הערה
price is compressing with low rsi on small time frames, a breakout and a higher high is certainly possible into 2pm fomc minutes. הערה
SPX appears to be in a triangle, or something like that - probably into FOMC minutes at 2pm. הערה
looks like a tradable top, a bounce with the fomc minutes will likely get sold, הערה
RTY coming into a support level. Objective long especially here I think. Still cold be more upside in this rally. Never underestimate the buy the dip crowd when it works. Lately it has. הערה
gap at 4400 level on spx cash still not filled, could be a target if a rally sticks. הערה
should continue higher to fill the gap on SPXהערה
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back to the channel by end of day. It could be a trap - note the hourly bearish divergence here. We'll see tomorrow.... הערה
nq resistance area הערה
us oil gap fill, not sure what to make of it I got stopped out. הערה
IWM was weak today compared to other indices, sometimes a leading indicator. Stopped at it's daily18ma הערה
IWM still has not made it's target of 165 (head and shoulders) i think it does by November. הערה
us.econoday.com/byweek.asp CPI today at 830הערה
market keeps pushing against the channel. A break above with CPI and continuation into 930 (to take out shorts) is possible. usually these kinds of patterns have a "blow off top" moment. I do think today the market will turn down regardless of how high it gets first.הערה
soxx back to channel resistance הערה
qqq to 372 area - channel resistance הערה
ES (futures) suggest 4450 area as possible target. הערה
15 minute rsi too low again, expecting higher הערה
after open I still expect a short squeeze, RSI is hinting at it. I could be wrong, but here it is. הערה
looks correct, הערה
current count - הערה
support level here - if it can hold it probably goes higher. Feels like a bear trap - again. הערה
lost support, looks like the top may be in. test of that 4376 - 80 level may hold it back. הערה
we have an expanding channel here - which may prove to be the bottom before a final rally. Just best to be careful. הערה
this channel is acting as support. one more high would not surprise me in the least bit. RSI extremely oversold on small and mid time frames הערה
q's gap at 376 area, may be what's driving the tech move. הערה
resistance of 4380 still holds. if it breaks it's bullish. הערה
secondary resistance here. so far looks bullish but it may stop around here. הערה
secondary channel structure reached, but it looks like it's going to crack. הערה
if they break the channel (blue) any test of it is an objective short. If they hold and test the yellow trendline which held earlier, that now should be resistance. הערה
ok we're bearish הערה
Larger structure still looks like a channel. Wave 5 down starting i think. הערה
coming back to test the channel. I'm not sure what's going to happen here but they will keep everyone guessing into the close I'm sure. Above 4370 tomorrow and it's going to make another high. הערה
how the day ended - הערה
New Video - I will update there - enjoy 
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