Quick update on the markets - I do think a bounce is coming but it may be limited. SPX 4120 is my minimum bounce target into thursday or friday. Keep in mind the economic numbers at 830 tomorrow and AAPL earnings after the bell. AAPL in my opinion will disappoint this time but tomorrow it may run up before earnings, as it usually does.
OK everything is in the video, I hope you enjoy it and good luck!
OK everything is in the video, I hope you enjoy it and good luck!
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good morning, we have a bounce overnight, but one more low before a larger rally would make sense. I expect the numbers at 830 to give a pullback and then the open to rally. Amazon is reporting, not appl, but it also looks like it may pullback slightly after earnings, so I expect today to be positive and tomorrow to be negative
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regarding the TLRY trade, there was news overnight taht the SAFE banking may actually pass this year, take it for what it's worth.
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www.marijuanamoment....ijuana-banking-bill/
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here'sa channel to watch, still think today will be down for at least a few hours or more...
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resistance is here - watch for a false breakout of the channel....
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over resistance, so here's the rally. Amazon is showing multiple bear divergences on 4 hr time frames, so probably will be down after hours...
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we're in the zone of resistance, my guess is this is C of B with a C wave down next. If we sell off tomorrow we will end the month under the 18 monthly ma....
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note the 4 hr rsi is now sufficiently reset
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also could be seen as a possible head and shoulders formation
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SPY testing trendline
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something in the earnings call at amazon took it back down, now down 2 percent after hours. no idea what it was but the C of B wave looked done at the end of today. I expect heavy selling tomorrow and into next week. We will likely close the month under the 18ma monthly as described in the video. have a good night.
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we're down this morning, but the rsi is telling me we need to get up and fill the gap on futures at about 4138-4140. Any rally this morning is a short opportunity in my opinion.
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gap filled on futures, expecting a reversal, let's see
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nope they will get the rsi to extremums again before any pullback. I still expect a fall today but we may get to 4170 first to complete the B wave. Staying short.
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SPY looks like it wants to get to 416, to take the majority of stops out.
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almost to 416 on spy, should push out the majority of shorts. Vix now 16
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hanging man candle on SPY weekly chart, we'll see if it means anything next week. Have a good weekend.
