Monday, April 15, 2019

Week of April 15, 2019

This week will equal time from the election low that originally tagged the January 2018 high. We have other confluences of time that have extended by a week or so up here too. There are plenty of divergences from the daily all the way down but as we all know it just continues to gap and go at will.

2 Hour SPX (no speculating)

Monday, April 8, 2019

Week of April 8, 2019

On and on and on and on... It just seems nothing matters and they can do whatever they want, whenever they want. If you are an investor there is no way to complain. Price is trading up in ranges it has actually deserved to be at so as a trader, and moreover, as a bearish trader, one can only be patient and wait for the turn. It has been quite the run with minimal corrections. We enter the the last  trading days of this first 1/2 cycle that ends the 12th. A turn seems inevitable but at the same time I had thought the same 200 handles ago. #RMS

Divergence in place yet, will it change?

Monday, April 1, 2019

Week of April 1, 2019

Had to test this top eventually, can we make the higher high? Perhaps just another set up like September / October highs? I noticed ES got the Friday afternoon carry over and that afternoon move surprised me just a touch this past Friday. 

Sunday, March 24, 2019

Week of March 25, 2019 End of Q1

I can't help but think this immediate term top is in. Can it be retested? Sure, but now I think a few other charts may have a say as to how long it could be prior to it happening. A break on SPX at 2722 (March 8 low) would certainly signal a trend change. I will leave this space for the SPX and RUT but will post a few others in the comment section.

 SPX Daily

RUT Daily (already took out March 8 low)

Monday, March 18, 2019

Week of March 18, 2019

FOMC on Wednesday. 19 years ago SPX traded at 1552.87 so in a larger reality we are actually only about 1 point per every 4 trading days since. (Roughly .272 rounded not including the leap year trading days)

Nearly 500 off the low in December so why not just get there

Sunday, March 10, 2019

Week of March 12, 2019

SPX / ES / VIX pretty much hit all the initial profit targets of the short that was playing out in the immediate term. Off those PT's it managed a bounce and seems it still wants to climb a bit more. On the SPX it seems the 2767-68 price is pretty key and if they intend to keep the current bounce alive I would think this is where bears have to respect price. Quad Expiration coming up on Friday so about all we can do is respect the chart and what it is telling us. You guys already know I am expecting a little weakness here yet to start the week so I would think what we see in the morning will let us know. I will post a couple more charts below along with the standard typically put here. I went ahead and just did something in the immediate term with some Murrey levels. Good luck and let's keep 'em Green!

Tuesday, March 5, 2019

10 Year Anniversary is here

So far it appears the bulls remain in control. A bit of damage done yesterday but in reality it short profit targets were hit. ES says short lives pretty much at 2800 but bulls need only control 2787 in the current trade. Gonna keep it short and simple and just have to trade what they give us from a daily perspective. I will  say it seems change in trend could be upon us based on the outside day and having taken back everything it had achieved over the last couple weeks. The low after the release of minutes was tested and that is where bears have to start, break it and bears can start winning.

SPX 30 minute (other platform is down)

Monday, February 25, 2019

Week of February 25, 2019

What can I (we) say? It is what it is. The next natural is 2809 and we are nearly there for the most part. Provided a little resistance before but let's face it, thinly traded up here. 3 months to get a low and wipe it out in 2 (for the most part). Looks almost too comfortable doesn't it?

Wednesday, February 20, 2019

February 20, 2019 FOMC Minutes Release

I haven't had all the time I need to study charts but it appears we are near that inflection point. With the release of minutes today perhaps this is the "news" needed to get something started. MACD is in territory it just doesn't belong in as it proved last January. Will look deeper into things as time allows this morning. I am only running on the 2G portion of my router vs the 5G so things aren't up to the expectations I am familiar with. I hope to get this resolved today.

Monday, February 11, 2019

Week of February 11, 2019

KISS is on the agenda for the week. It just seems obvious we will need to retest that 2739 before anything more dramatic is going to happen. On Friday we were able to tag one of the lesser profit targets for the short that was in play. It seems the 2018 playbook is still in operation where ya run the longs, then the shorts and make a  healthier decision on direction. Opex happens to be this Friday so I believe it is intelligent to let the chips fall where they may. This has been a helluva run and I can't ignore how overbought the MACD is. It is at the highest level we have seen since January 2018.

I copied over the the channel from Jan 2018 high to the Dec low and drug it up across the Oct high