Entries by mcm-Alex

mcm daily market update 21.Jan.22

ST trend: down Yesterday we were noting that the ST trend was neutral as price was testing ML, so it was decision time. Breakout would get an up squeeze while rejection would lead to immediate downside. We did get the breakout and a large up squeeze right into macro-ML. However, as we warned yesterday "Ultimately, […]

mcm daily market update 18.Jan.22

ST Trend: down (with bounce attempt ongoing) Friday saw large whipsaws in both directions. After a decently large gap down (30+ points), buyers stepped in and managed to fill the gap. Then the opening low was tested and finally broken, after which the last 2h of the session saw the "usual" late Friday ramp to […]

mcm daily market update 10.Jan.22

ST Trend: down (with potential bottoming attempt) On Friday we were mentioning that the ST trend was neutral, as both sides were inefficient via FGSI. We did note that as long as ML and macro-ML are above price, sellers retain an edge and that proved to be true. The bullish EE on FGSI with FGSI […]

mcm daily market update 03.Jan.22

ST trend: up (with pullback in progress) First off: Happy New Year! Welcome to 2022! On Friday we were mentioning that the ST trend was down, with potential bottoming attempt. The market had finally broken the 4770 support and fell to macro-ML quickly after that (as warned it would happen if ML and 4770 would […]

mcm daily market update 31.Dec.21

ST trend: down (with potential bottoming attempt) Yesterday we were noting that the trend was up with potential topping pattern as the high was unconfirmed on FGSI. We did mention the big picture ranges of 4770 and 4800. The market first had yet another bounce off ML which stopped again on the 4800 resistance and […]

mcm daily market update 27.Dec.21

ST trend: up (with potential pullback coming) On Thursday we were mentioning that the ST trend was up, as after Wednesday's big run the o/n saw just sideways chop, but buyers still managed to muster higher highs. The market delivered as it had a run up just after RTH open and then camp in a […]

mcm daily market update 20.Dec.21

ST trend: down On Friday we were noting that the ST trend was down as buyers had lost ML and macro-ML and were very inefficient on bounces via FGSI. That played out as expected as price continued lower about 40 more points from our post, before buyers finally attempted a bigger bounce from another trip […]

mcm daily market update 17.Dec.21

ST trend: down Yesterday we were noting that the trend was up as buyers continued to build on the big FOMC bounce and sellers kept being inefficient on the tiny dips. This continued until ES made a new ATH, after which price finally starting to come down from nose-bleed highs. The normal expectation would have […]

mcm daily market update 16.Dec.21

ST trend: up Yesterday we were noting that the ST trend is neutral as both sides were inefficient. We also mentioned that the prior day low was a big line in the sand and being a FOMC day, the market should pick up a more sustained direction after the announcement. Wednesday's low held the whole […]

mcm daily market update 13.Dec.21

ST trend: neutral On Friday we were mentioning that the ST trend was up with a potential topping pattern, as buyers had managed to win ML back, but FGSI was at extreme optimism so a pullback was expected. We did note that if buyers could hold ML on that potential pullback, that could set up […]