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No idea if the pullback low was in or not, need see more bars.
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SPX 200d @ 2061.59 and open gap to the downside, upside upper trends. MInd the morning gap. VIX still holding of sorts.
/ES restesting neckline, trying to hammer the daily today.
My new question is: has the FXI:SPY correlation permanently broken down, or will it return this week? And if it does, does that mean FXI rallies or SPY drops hard?
bearish as of SPY 406 on 2/17/23
currently: end bearish as of SPY 406 on 3/6/23
I feel pretty strongly that August 24th - October 23rd was the initial bounce off the lows. Now FXI is heading back down to retest the August 24th low, which is classic crash behavior for an economy that just imploded. In theory that should be a drag on global markets. SPY should correct too. But it defied it last week.
bearish as of SPY 406 on 2/17/23
currently: end bearish as of SPY 406 on 3/6/23
ES: 4minutes until 15min bar closes. That's a very impressive bullish engulfing candle so far....short-term signals overbought though. Looks like a bull trap. I'm wrong if over 2083.10 the 61.8% fib
SPY and FXI are actually still correlated if you remove october 28th. That day FXI had a huge red candle while SPY had a huge white candle. Everything else still aligns.
bearish as of SPY 406 on 2/17/23
currently: end bearish as of SPY 406 on 3/6/23