A number of technical supports here, although we could sell down to the 50 overnight I would expect a bounce tomorrow. POssibly we will form a bear flag between the daily BB and the 100ma.
Good luck!
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50ma reached overnight, expecting a bounce even if we get another morning sell off.
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As of now the "3rd wave" looks finished but it's not long enough, so either we go down lower to finish the week and bounce next week, or we bounce today and the next wave may be an extended 5th. I'm leaning towards the second scenario but I can' tell until I see what today's close is like. WIll update this
spy 392 is .318 fib, that area also is close to the 100ma on the daily. If (big IF) we get there today I'll take a small short position home just in case this is a bull trap and Monday they gap down. This morning bounce may also fail miserbaly in which case I'll take the loss and reevaluate the next goo setup to take
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futures looking more bullish than SPY, which is why I watch both. A pullback here and then further up on some "news" would make sense. The C up move should be fast, so maybe it finishes today into close.
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1 minute chart looks like this (we'll see soon if correct). I think this is a bear trap as of now.
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dow jones just hit MA support on weekly chart
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I would consider this a "fast move down", not to be trusted.
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if correct this wave should be done, took a few cheap calls, will stop out if they keep selling nothing serious.
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potential hammer on 15 minute chart, waiting for close to see how it looks
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close of 15minute looks good, now needs follow through by bulls.
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no bounce, even if they do we will likely close under the 18ma on the week - very bearish. I really thought they would try to save the 18ma weekly today today but without a fast miracle - nope,
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its looking a bit like wedge with 30 minute bull divs building. i'm just watching and waiting for a bounce, probably next week
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A breakout on this would be bullish, no guarantees. If it does, maybe I'll grab a small long position again on any retest.
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short squeezer at end of day?
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breakout, another way to look at this - personally taking a a small long position into Monday. very small
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100 and 10ma converging around 3930 area on spx cash, for me that will be the target early next week, then another short from there.
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