Very true… SkyNet makes you capitulate first and then it reverses the other direction. So at this point I’d say we will hit 211.80 SPY first and then sell off.
It’s worth it for me as I’ve changed my trading to day trades mostly as it’s easier for me to make money on. Predicting out more then 2 or 3 days is tough with this rigged market, so I just focus on what makes me money.
Of course the bullish setups seem to always play out so forecasting 2085 SPX on that cup and handle pattern was a pretty sure bet.
Yes, I do see a higher market by the end of the month. But a pullback here is overdue and I think we’ll see it drop 20-40 points in the near term before we go up to that FP around 2118 SPX.
I think today is short. As I said earlier the cup and handle pattern projects a high of around 2085 ES (about 2090 SPX) and from the looks of the open we are about to have we could creep up there today. Maybe it only makes it to 2080 ES, or just 2075 where it hit twice afterhours yesterday and premarket this morning, but I think it’s time to start looking for a short.
I see the charts as very overbought now and if tomorrow has a weak gap up of only a few points I think it’s a sell. They need to clear 2075 area on the ES to even have a chance to run the stops in my opinion. Otherwise I see the technical’s in the charts pulling the market down.
Only a stop run by SkyNet can get it going up to the cup and handle expected high of 2085, and who’s to say that it’s still a valid pattern? We did breakdown from it some earlier today, which tells me the pattern may or may not work?
Ok, expected down move tomorrow with 70% chance no longer valid as we have a breakout on most ETF’s now with new higher highs then yesterday. So at this point the cup and handle pattern is likely back in play for now. Expected high is 2085 ES or 2090 SPX. (Of course we could gap up and pullback back tomorrow before we go up that high).
Very true… SkyNet makes you capitulate first and then it reverses the other direction. So at this point I’d say we will hit 211.80 SPY first and then sell off.
Often it’s not that these setups won’t work…
but that they will work AFTER they run your stops first.
“Every child does not need every single dose of every single vaccine…
we have to bring some rationality to this conversation”
https://www.youtube.com/watch?v=25Fv3ocO9gs
It’s worth it for me as I’ve changed my trading to day trades mostly as it’s easier for me to make money on. Predicting out more then 2 or 3 days is tough with this rigged market, so I just focus on what makes me money.
Of course the bullish setups seem to always play out so forecasting 2085 SPX on that cup and handle pattern was a pretty sure bet.
That is a drop of 1.9% assuming a 40 points drop. Is this worth the SHORT?? not me.
Yes, I do see a higher market by the end of the month. But a pullback here is overdue and I think we’ll see it drop 20-40 points in the near term before we go up to that FP around 2118 SPX.
perhaps. However, the odd favors higher market into end of month.
I think today is short. As I said earlier the cup and handle pattern projects a high of around 2085 ES (about 2090 SPX) and from the looks of the open we are about to have we could creep up there today. Maybe it only makes it to 2080 ES, or just 2075 where it hit twice afterhours yesterday and premarket this morning, but I think it’s time to start looking for a short.
I see the charts as very overbought now and if tomorrow has a weak gap up of only a few points I think it’s a sell. They need to clear 2075 area on the ES to even have a chance to run the stops in my opinion. Otherwise I see the technical’s in the charts pulling the market down.
Only a stop run by SkyNet can get it going up to the cup and handle expected high of 2085, and who’s to say that it’s still a valid pattern? We did breakdown from it some earlier today, which tells me the pattern may or may not work?
Ok, expected down move tomorrow with 70% chance no longer valid as we have a breakout on most ETF’s now with new higher highs then yesterday. So at this point the cup and handle pattern is likely back in play for now. Expected high is 2085 ES or 2090 SPX. (Of course we could gap up and pullback back tomorrow before we go up that high).