ES 06-24 (60 Minute) 2024_04_26 (7_56_10 AM).png Early weekend post. IF Nvidia delivers yet another 100 point jolt it only gets us to the top of the range for a retracement. Starting to see this showing up on X as in "great opportunity to short if you missed the last one". People who publ...
Last week everybody and their dog was predicting a dead kitty bounce to around 5150 because earnings would be great for Mag 7. So far those who are paying cash back to shareholders are rewarded and those who are buying tons of Nvidia chips are punished. But everyone still calling for Nvidia to push ...
Mr. Market treated GDP like a normal news event. Took a long time but it climbed back. Everything hanghs on the big earnings reports tonight. Then what ever happens the focus will be on the Fed and Nvidia .
ES 06-24 (2000 Tick) 2024_04_25 (9_06_43 AM).png Like Bull Bear said, good day to do chores as we wait for earnings. As a wit on X said yesterday Zucker burg didn't get it. You are supposed to talk about AI not spend serious money on it. So we see if Mr Softy and Goog got the message. When the only...
ES 06-24 (27700 Tick) 2024_04_24 (8_57_35 AM).png So much for "we will make money next year" saving the market with cheep cars. If promising to buy a bunch of AI chips couldn't keep things moving up then the three big ones reporting today and tomorrow haven't got a chance unless they are ...
A different outcome that also needed five waves up. This prognosticator (Traders helping Traders) nailed the top. But he is uncertain at this time if it was The Top or if we need a slightly higher high.
Positive view. Had our five waves up now we need the ABC pullback (thinking earnings report disaster) then market takes off toward new highs, thanks to NVidia earnings report.
Tough situation for the next couple of weeks. Consensus is a kitty bounce to around 5150 or so then down it goes for the summer. Dip buyers are counting on the Mag 7 to blow us away with earnings. Tesla has nothing to offer. Cars are too much money so their answer is a $55,000 model that goes faster...
Showing the 7 day volume profile in heat map colors. We are back into the standard zone. Clearly a low volume node in the 5080 area if we can clear selling in this 5070 zone.Not a surprise that 5100 is the VPOC for the last week.
ES 06-24 (2000 Tick) 2024_04_22 (9_43_50 AM).png 5025 seems to be important today. Kinda doubting the third touch will hold as support so I asm thinking the bulls need to make a decent move up or it is over for them today. I have seen a few price action plays today but you can tell I am falling asl...
earnings week 4 24.jpg Major earnings this week. Graphic from Earnings Whisper. Four of the mag 7 reporting. Fed silent period. Still in by back blackout. I expect drift as we wait to see how Da Boyz are doing. Elliott Wave count is still uncertain. Some counts say the top is in for the summer, oth...
Someone posted on X that the tech titans are now 28.5% of the S&P 500 including the bitcoin trading vehicle Super Micro Computer. If you were watching the market carpet charts yesterday you saw the titans turning green and the index going up while everything else stayed a sea of red. Today is op...