Entries by mcm-Alex
mcm daily market update 25.Apr.22
ST trend: down (with bottoming attempt) On Friday we were noting that the ST trend was down with potential bottoming attempt, as we had the potential for a bottom with FGSI and IGSI showing unconfirmed lows. We warned that "The absolute KEY level for buyers to defend is the o/n low. Below that likely opens […]
mcm daily market update 22.Apr.22
ST trend: down (with potential bottoming attempt) Yesterday we saw one of the biggest reversal ever recorded. After the RTH open, buyers pushed higher strongly and triggered a BE on TTs which marked the top. After that, markets took the "elevator down" as price just dropped in a steep manner all the way until the […]
mcm daily market update 20.Apr.22
ST trend: up (with potential topping pattern) Yesterday we were noting that the ST trend was neutral, with potential bounce coming, as FGSI had set up both bullish and bearish EE, but was at extreme pessimism, indicating at least a ST bounce. Buyers took full advantage of that though and after the initial failure at […]
mcm daily market update 8.Apr.22
ST trend: up (with correction ongoing) Yesterday we were noting that the ST trend was neutral as we were still in the prior day's range (from the FOMC minutes spike high and low) and having bearish and bullish EE vs those levels. Sustained breakout/down of those levels was needed to escape the range. Initially we […]
mcm daily market update 04.Apr.22
ST trend: up On Friday we were noting that the ST trend was neutral, as both buyers and sellers were inefficient via FGSI. We did mention that "the bounce is a slow grind and is looking more like a bear flag than a change in trend" and warned that losing the bullish EE lvl set […]
mcm daily market update 01.Apr.22
ST trend: neutral Yesterday we were noting that the ST trend was down as buyers were showing inefficiency via FGSI. Additionally they attempted to win back ML, but failed to hold above it. We did mention that "ML remains the key level for the trend and if it continues to reject price, that would point […]
mcm daily market update 29.Mar.22
ST trend: up (with potential topping pattern) The market has continued the melt-up started in mid March with each ML break down attempt being stick-saved quickly and ML being recovered easily after that. Yesterday was the same as prior 2 days. ML test in the o/n, bounce into the o/n highs, then drop into RTH […]
mcm daily market update 23.Mar.22
ST trend: down (larger correction attempt) Yesterday we were noting that the ST trend was up as buyers had held another ML test and bounced off it. Indeed from our post, the market consolidated briefly, then ramped another 50+ points to breach 4500. The RTH session was a "ramp 'n camp" as after the initial […]
mcm daily market update 16.Mar.22
ST trend: up (with potential topping pattern) Yesterday we had a huge reversal day and up squeeze. FGSI and IGSI both signalled an unconfirmed low at the o/n LOD, and those have the potential to be explosive set-ups. Yesterday didn't dissappoint, for sure. After the o/n LOD was touched, the market went straight up with […]