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It's 2nd of 2nd leg down, if cannot decisively break the blue line below then then pullback is over, so no sharp rebound here allowed for bears.
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SPX opening near 50w SMA 2030.71.. 2025/6 neckline on the hourly.. with target of Mar 11 open gap 1990.. if we get a decent move down. VIX bullish falling wedge still
fehro wrote:SPX <50w 2030.58 cover some shorts here from yesterday… near neckline support
was fully expecting a good backtest of 200 yesterday/early today - technically not healthy in my opinion, setting up for a quick pierce of the 200 when it fall out of your triangle...
fehro wrote:SPX <50w 2030.58 cover some shorts here from yesterday… near neckline support
was fully expecting a good backtest of 200 yesterday/early today - technically not healthy in my opinion, setting up for a quick pierce of the 200 when it fall out of your triangle...
neckline holds.. triangle/wedge could retest on Yellen 11:30, Dudley 12:00pm, Kaplan 1:00pm - if 2026ish goes.. look for 200d/20d confluence 2016.6 ish
fehro wrote:SPX <50w 2030.58 cover some shorts here from yesterday… near neckline support
was fully expecting a good backtest of 200 yesterday/early today - technically not healthy in my opinion, setting up for a quick pierce of the 200 when it fall out of your triangle...
neckline holds.. triangle/wedge could retest on Yellen 11:30, Dudley 12:00pm, Kaplan 1:00pm - if 2026ish goes.. look for 200d/20d confluence 2016.6 ish
3 speakers starting with yellen within a short period, smells
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These H&S patterns tend to fail nowadays. Necklines are now used to squeeze shorts. I don't know the big boyz' game plans, but nearly all necklines result in small rallies. Must be a lucrative play.
fehro wrote: neckline holds.. triangle/wedge could retest on Yellen 11:30, Dudley 12:00pm, Kaplan 1:00pm - if 2026ish goes.. look for 200d/20d confluence 2016.6 ish
DAX big reversal again. CAC remain strong so eurostoxx still up. FTSE down.
meanwhile, TLT up, USD down, crude down. megatechs doing the heavy lifting so far. market seems to be waiting for yellen.
We are getting a bearish MACD cross today. Under these conditions, it is highly likely IMO to be a profitable place to short. It also likely is signalling that the required trip to the lower bb is coming soon.
bearish as of SPY 406 on 2/17/23
currently: end bearish as of SPY 406 on 3/6/23
DellGriffith we are 60 minutes from your potential catalyst. If Grandma is hawkish and that is followed by more later in the week not a good set-up for what is forecasted to be yet another quarter of declining GAAP earnings. Hard to see it otherwise at this time.
Oh yea a new 5 year record of consecutive weeks of insider selling.
Trades with cats wrote:DellGriffith we are 60 minutes from your potential catalyst. If Grandma is hawkish and that is followed by more later in the week not a good set-up for what is forecasted to be yet another quarter of declining GAAP earnings. Hard to see it otherwise at this time.
Oh yea a new 5 year record of consecutive weeks of insider selling.
however, 7 yr+ lesson, never underestimate the bulls...
Trades with cats wrote:DellGriffith we are 60 minutes from your potential catalyst. If Grandma is hawkish and that is followed by more later in the week not a good set-up for what is forecasted to be yet another quarter of declining GAAP earnings. Hard to see it otherwise at this time.
Oh yea a new 5 year record of consecutive weeks of insider selling.
i doubt she will go outright hawkish. more likely she will play neutral by saying we will have to see but rate hike in apr or june still an option.