An overview of some markets, I still think an upcoming C wave will happen relatively soon. In general 4050-4100 should cap this B wave rally sometime mid week. USOIL may continue it's move to around 90 after Friday's fake breakdown but needs to hold above the 18 daily and weekly ma's. Gold may find resistance at 1876 level (upper Bollinger band). Bonds likely rally now that the sideways correction appears to be over Friday. Bitcoin is also showing relative strength on the rsi reading. A solid bounce for next week is likely to 24k-25k.
Good luck!
Good luck!
Kommentar:
Good morning, any pullback today likely gets bought. I'm wrong if they get under 4k by eod.
Kommentar:
SPY has gotten back to the 407 area. There's a small gap above, either they fill it or reject before.
Kommentar:
nice shooting star on spy today. powell speaking tomorrow, i expect a wild session, maybe even one more high before the reversal
Kommentar:
reveral candle yesterday needs confirmation today. With Powell speaking at 10am many are thinking the market will sink. One more high to take out shorts at or slightly above 4100 would not surprise me, but doesn't have to happen.
Kommentar:
be careful of whipsaw here, rsi is already quite low on smaller time frames. One more leg up still possible.
