5/8/2022 Sunday

$SPX (monthly, log scale) Following the breakdown in February below the key red trendline from 2009, we had 2 months of sideways consolidation that ended up with bears taking control as we closed April below 10month support with 5/9ema pushing from above and clinging on to 20ema support. We started this months candle with a …

5/8/2022 Sunday Read More »

5/1/2022 Sunday

$SPX (monthly, log scale) We’ve had the bearish engulfing reversal at ATHs and channel resistance. We then crossed back down below the key trendline extending up from 2009, backtested and rejected all the way down with a bearish monthly breakdown below 10 month horizontal support. Also you can see the prior 3 monthly candles all …

5/1/2022 Sunday Read More »

1/2/2022 Sunday

$SPX (Yearly, log scale) Since the 2021 completed, it only fitting that we look at the yearly candle and where we stand historically. Every the yearly historically has shown long term market direction as we can see from the chart below. We closed at or near a true life time channel top that extends from …

1/2/2022 Sunday Read More »

11/28/2021 Sunday

$SPY weekly bearish engulfing of prior 2 candles (hanging man and doji) so reversal signal is confirmed. And considering it just rejected off multiple layers of channel resistances, this should be short-term top. Weekly 5/9ema and MACD ready to bearcross so there is potential for strong follow-through if bears decide to take advantage. $SPY (daily) …

11/28/2021 Sunday Read More »

11/1/2021 Monday

$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 …

11/1/2021 Monday Read More »

9/5/2021 Sunday

$ES_F (daily) chopping along the channel resistance all week. Momentum slowing down with spinning top daily candle friday which indicates indecision and potential reversal candle. I remain bearish as long as current channel resistance holds $SPY (daily) similar channel as $ES_F along with shorter term channel (orange) providing dual resistance. $SPY 1H head and shoulder …

9/5/2021 Sunday Read More »

7/18/2021 Sunday

$SPY (weekly) Hanging man ((reversal candle) prior week… and as anticipated the channel resistance held with bearish confirmation. Is it a guarantee that we topped? no guarantees in life and trading but its a setup you take with set risk/stop in place. $SPX (daily) how to catch a top reversal. Look for the a breakout …

7/18/2021 Sunday Read More »

7/11/2021 Sunday

$SPY (Weekly, arithmetic scale) closed right at the channel resistance with a hanging man. Potentially signaling the top if we close the week with a bearish candle. If we push further up, we have the 443-450 level that other people are wait for which happens to be the top of the 20 year channel $SPY …

7/11/2021 Sunday Read More »

4/4/2021 Sunday

$SPY (weekly) confirmed breakout above the megaphone resistance on friday. However, RSI hasnt broken out yet so there could be some turbulence. $SPY closer look at the RSI which has 2 trend lines approaching that could act as resistance. Watch for daily candle rejection as we approach these lines $SPY (4H) Short setup: Watch for …

4/4/2021 Sunday Read More »