Entries by mcm-Alex

mcm daily market update 21.Nov.22

Main trend: up ST trend: neutral Markets finished last week undecided putting in an indecision doji, ending the week near the lvl where they started, with long tails both up and down. Friday was OPEX and the whipsaws didn't dissappoint, large gap up, that got sold hard, then LOD hit near mid day and push […]

mcm daily market update 18.Nov.22

Main trend: up ST trend: up The market flushed yesterday in a pretty violent manner opening with a large 50+ points gap down, however bulls managed to defend the prior support area near 3900 and staged an impressive rally. The gap fill area provided some resistance for a late day drop, but bulls again managed […]

mcm daily market update 15.Nov.22

Maine trend: up ST Trend: up The market continued the melt-up started after the CPI numbers. The rate of ascent slowed, but bulls still managed to clip 4k, before staging the 1st steep reversal yesterday, dropping 50 points in 2h. The drop also sliced below ML, but bulls quickly recovered it in the o/n. The […]

mcm daily market update 7.Nov.22

Main trend: neutral ST trend: up Things were looking pretty grim for bulls last week after a hawkish FED broke the up trend, price slicing below all MLs and some important TLs. On Thursday bulls managed to defend the 3700 SPX lvl and chopped in a 50 point range. Friday saw a surprising gap up, […]

mcm daily market update 31.Oct.22

Main trend: up ST trend: up After hitting a low near 3800 on Thursday, the market bulls managed to bounce hard on Friday pushing to new highs and touching that elusive 3900 area. Mkt finished at the highs on Friday, to end the week on a high note. Sunday open saw a quick drop from […]

mcm daily market update 27.Oct.22

Main trend: up ST trend: neutral Yesterday the market continued to push higher after holding ML once again. Bulls almost touched 3900 ES, before bears finally emerged and we had the 1st large reversal lower in quite a while. Price ended up near ML again. The o/n was neutral, as bulls managed to win back […]

mcm daily market update 10.Oct.22

Main trend: down ST trend: down Friday the market finally revealed its intentions after the back and forth on Wed-Thu. The NFP numbers coming out at 8:30am were the final nail in the bull coffin as the market dropped 50points instantly. The forces at work managed to hold the line there until RTH open, but […]