es 6-13 update ~

13 июн. 2022 г.

good evening folks,

es appears to be in what looks to me like a falling wedge.
i've come up with two trajectories for it this week.

👇

1. the bull (portrayed in green).
-if the low from may can succesfully hold, without being violated - there is a slim chance for us to see a bullish continuation to the upside. potentially up to 4300.
-few more levels above this level, if it can successfully push through it.
-this could happen if jpow says something nice on wednesday.
-we have a full moon on june 15th (a historical bullish indication for the markets).
-we also have a max pain on spy contracts at $422 for 6\17 opex; price could theoretically gravitate up there (but it doesn't have to).
-85% of the market is currently bearish, which could result in a short squeeze if given the proper circumstances.
-4h hidden bullish divergence is currently present.
-little bonus, our high time-frame indicator is calling a buy down here.

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2. the bear (portrayed in burgundy).
-if the low from may is breached, a rapid mark down in price can occur.
-there is two significant targets which i have had in mind for awhile.
-3175
-3635

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this week could be very eventful, as we have quite a few things on the schedule:
-triple witching
-vix expiration
-jpows speech,
-full moon
-and probably so much more.

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ps. i am cautiously bull-ish.

trade safe, and have a blessed week o/