SPX 500 Bias is firmly up
מעודכן
all in the video. I expect a pullback but it does look like 4600-4700 will be the goal by the end of the year. Probably beaten down stocks will finally play catch up to the Magnificent 7....
הערה
we may top this A wave this morning, but a push up to 4560 area still very possible. Either way a correction is coming soon. הערה
if we start to pullback the 18ma weekly at 4400 should be strong support. If the market loses that 18ma I will be surprised and it will indicate this week being a bull trap. We could conceivably test the recent lows. This is an alternative. I only bring that up because right now every post I see is bullish on the market into the end of the year, so if we lose that 18, that would certainly put a dent in the bull case for a year end rally. הערה
also keep the gaps in mind on SPX both above and below הערה
by the end of today the hourly RSI is already quite low. I expect another high with more divergence tomorrow. Jobs numbers at 830 could spike it hard and give the divergence I'm looking for by open, in which case I would think the open sells. הערה
good morning, not much selling overnight. Hourly RSI still low, but it's possible we get a sell down after 830 numbers. However, it would probably be a buy, with the RSI even more oversold. הערה
if they can't get over the highs on futures, then the correction down is likely starting, - הערה
C wave possibly in progress. If they get over the last high they will probably get to 4550 area... הערה
one more push up still makes sense for today. IWM and DJT weak - sometimes a leading indicator. Some of the Mag 7 also quite weak today... הערה
this is how futures ended, with the pump at close. i think we'll pullback now but we'll have to see how the morning looks...הערה
good norming, no sell off, but we did have a rising wedge overnight. It just broke, any retest of it is an objective short possibility. Above the previous high and it will likely start squeezing higher - maybe to 4550, not usre just yet. Previous high overnight has not been taken out. הערה
closer view הערה
futures should go up to test the wedge, which means SPX cash should make one more high. However, IWM and DJT look like they may have topped already. I'll make a video about the divergences between indexes this weekend. 
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