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01/24/2022 Live Update

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Cobra
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01/24/2022 Live Update

Post by Cobra »

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3 Push down, aka a falling wedge so a rebound is due?

Gap down below the Friday's low so likely it'd be a trend day, either up or down.
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ES60min.png

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JFR
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Re: 01/24/2022 Live Update

Post by JFR »

ES daily. Dive. Dive. Much deeper than the two pullbacks in December. Heading for the October low? Bounce?

2022-01-24_05-41-40.png
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JFR
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Re: 01/24/2022 Live Update

Post by JFR »

ES 60 minutes. Down beneath the Pivot and S1. Aiming at S2.

2022-01-24_05-45-24.png
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JFR
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Re: 01/24/2022 Live Update

Post by JFR »

SPY 15. It got trapped beneath the previous close. It's looking for the Titanic down there. Or the Bismarck. No souvenirs allowed.

2022-01-24_05-52-20.png
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JFR
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Re: 01/24/2022 Live Update

Post by JFR »

ES five minutes. Finding some support. Although it looks precarious.

2022-01-24_05-53-59.png
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JFR
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Re: 01/24/2022 Live Update

Post by JFR »

ES five minutes. It failed to move above the Pivot much earlier. Now it has moved through S1 all the way down to S2. Hurricane season.

2022-01-24_06-08-59.png
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JFR
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Re: 01/24/2022 Live Update

Post by JFR »

SH. The inverse of SPY.

Back later ...

2022-01-24_06-32-04.png
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Mr. BachNut
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Re: 01/24/2022 Live Update

Post by Mr. BachNut »

A few comments:

NYMO is presently lodged in the Oversold Zone.
This is fairly rare. What lies ahead?
Generally, a low of some kind is due. It may be temporary or a true low.
However, sometimes you get a waterfall. :shock:
It is counterintuitive, but crashy times can emerge from oversold states.

With FOMC ahead I am inclined to think a low is ahead.
The October low is also approaching. Bulls will want to defend that. Thar be stops below...
There is also a big gap from the July low waiting to be filled at SPX 4258.49.
All that said, I have no idea what will happen.

I remain short SPX and R2K.
I will be watching for a NYMO up tick or a short time frame long setup to consider hedge longs.
NYMO 012422.jpg
jademann
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Re: 01/24/2022 Live Update

Post by jademann »

It seems TA went out the window on the way up and now on the way down. Sold my short too early it seems..
My comments were dictated to me by homie the clown
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Cobra
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Re: 01/24/2022 Live Update

Post by Cobra »


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Mr. BachNut
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Re: 01/24/2022 Live Update

Post by Mr. BachNut »

October low just pierced. :shock:
gulp.

Let's see what happens after stops get collected.
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Mr. BachNut
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Re: 01/24/2022 Live Update

Post by Mr. BachNut »

Mr. BachNut wrote:October low just pierced.
On the index not the future.
Another 10 handles for that.
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Al_Dente
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Re: 01/24/2022 Live Update

Post by Al_Dente »

VIX is up 28%
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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Al_Dente
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Re: 01/24/2022 Live Update

Post by Al_Dente »

IWM down > 20% from its high
-20% = bear market
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BullBear52x
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Re: 01/24/2022 Live Update

Post by BullBear52x »

/ES pivot at 4309, up above bottom is in.
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Mr. BachNut
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Re: 01/24/2022 Live Update

Post by Mr. BachNut »

This chart seems worth an update.
A blip on the radar is starting to look like it has potential.
Perhaps we get a bounce to form a right shoulder to a H&S pattern, but that may be too pat.
Something unexpected more likely...
SPX RSI 012422.jpg
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BullBear52x
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Re: 01/24/2022 Live Update

Post by BullBear52x »

Bulls will have no chance under 61.8%
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Cobra
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Re: 01/24/2022 Live Update

Post by Cobra »

Revisit day low, any time a strong bull bar could mean double bottom. I prefer to see 2 consecutive bull bars though. So key time. Decisive break the day low then it could be a measured move down.
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BullBear52x
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Re: 01/24/2022 Live Update

Post by BullBear52x »

minimum bottom fishing requirement to have HH before counter trend. bears still having one more sell coupon. overall market is dead over sold, but you know the routine,it's not over until the lady shows up.
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BullBear52x
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Re: 01/24/2022 Live Update

Post by BullBear52x »

/ES hit lower support of 4258, will consolidate here for awhile and see from here, next lower supports are 4238 and the ultimate lower target is 4223
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