$ES_F (4H) rejected at dual channel resistance last night and currently consolidating in shorter term channel. We could potentially see chop/consolidation tomorrow and then movement following FOMC on Wednesday.
$SPY (daily) little hanging man at potential channel resistance. (remember the weekly and monthly negative divergence is currently in play)
$QQQ (daily) hanging man (potential reversal signal – need confirmations bearish candle tomorrow)
$IWM (weekly) at resistance zone. Cant assume itll close higher at the end of the week. Resistance is resistance until candle close.
Lets look at the top 5
$MSFT (daily) inside bar (potential reversal/indecision) at channel resistance
$AAPL (daily) following rally off 20ema on friday. Just a neutral/indecision inside bar doji candle today.
$GOOGL (daily) failed ATH breakout reversal with bearish engulfing daily candle. (Extremely bearish)
$AMZN (daily) showing weakness rejecting at 5/9/20ema. Inside bar
$TSLA (daily) RSI hit highest ever as it hit the (arithmetic scale) channel resistance. Extremely high risk of pullback. Watch for a red daily or 4H reversal candle for short entry.
Thanks Kevin
Good stuff. Keeps it simple.
Wow.. awesome analysis.. thank you!
I see a 4hr close below two previous green candles on TSLA (pre-market open). Would that be the confirmation to go short? Or would need to wait till 4hr confirmation during regular trading hours?