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, […]
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 […]
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 […]
Main trend: down ST Trend: neutral Yesterday the market dropped to new lows, before staging a face ripping rally until lunch time. After that the BOE crushed the bulls' hopes and the mkt lost ALL its gains to make a new low on ES and basically made a double bottom on SPX before bouncing a […]
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 […]
Main trend: down ST trend: down On Friday the market managed to stage a nice bounce back to the 3680ish zone before failing and flushing to new lows. I mentioned that bears are in the "pay me now or pay me later" camp as the move into the lows looked incomplete and the new low […]
Main trend: down ST trend: neutral Yesterday the market saw a big gap down open and flushed more after RTH oepned. it stopped near the prior lows and staged a bounce, but it was just a DCB and mkt dropped to new lows after that. Last 1h brought again a short squeeze and price got […]
Main trend: down ST trend: neutral Yesterday the session was choppy both ways in a sign that the trend is still down, but MMs are trying to shake out put holders as much as possible. The o/n session saw 2 tests of Friday's lows and 1 test of Friday's high. We gapped down, but bulls […]
MT trend: down ST trend: down Yesterday we noted that the MT trend was down, while the ST trend was neutral as bulls had won ML and were trying to hold above. The session proved to be sideways chop, as predicted, while everyone waited for FOMC decision and presser. That brought the expected volatility as […]
Main trend: down ST trend: down On Friday we noted that both MT and ST were down as all 3 MLs were above price and red, after bulls lost them all following the CPI number release. We also issues a CRASH warning set up in our EWT analysis, as the market looked bear nested off […]