SPX - the weekly preview

21 May 2023

Just a few options for the SPX this week. I don't think we'll have either a moon shot or a big sell off, but we could end up at 4150 quickly if the potential bear flag plays out. All in the video - good luck!

22 May 2023

Not

good morning , as of now it still looks like a bear flag. they are winding it up a lot so a breakdown (if it comes) may be strong. 4150 still target.

22 May 2023

Not

bear flag foiled at open, hopefully we get one more high for more bear divergences.

22 May 2023

Not

hard to tell exactly where this trendline is, but I would think the target is here to 4240 area, more or less. Doubletop or slightly higher high expected.

22 May 2023

Not

bear trap, likely a C up and then a sell off. Should confuse the majority

22 May 2023

Not

IWM getting a bid today along with bank stocks. It's hard to tell if we will pullback soon or not but my guess is either way, we will eventually go higher. The action today maybe a B and then C down, but ultimately that would just be a pullback.

23 May 2023

Not

good morning, it does look like we are in the middle of a C down today, support probably at 4160-4150 area. The RSI on mid time frames are already quite low, a bit lower would look ideal for a next leg up. Will update if something else occurs.

23 May 2023

Not

were close to the support zone. hourly rsi pretty low, my guess is a bounce soon and maybe lower into next week. the market is not impulsive at all

23 May 2023

Not

if they don't stop soon, they may come all the way down to 4100 to test the previous downtrend. Now we're picking up some steam

23 May 2023

Not

buyers have stepped in where expected, the question is do we bounce or do we sell tomorrow. I still expect a bounce from here for a few days.

23 May 2023

Not

the sell of stopped at the secondary support, we'll have to see how it looks tomorrow. The rsi up to 4 hr is very low on futures, but it could be we get a small bounce overnight to reset it and then find ourselves at 4110 by close tomorrow, in which case, the bulls are going to have a hard time getting higher as many bulls waiting for 4300+ will be trapped.

24 May 2023

Not

expecting a bounce soon, maybe at open, but resistance is above either way.

24 May 2023

Not

test of downtrend reached, I expect a bounce, but let's see....