Looking for short the indexes this week. Ain't no rally like a bear market rally!
/ES had a nice squeeze, recaptured the 50w SMA - but it got capped at the 200dma. We had a 50% retracement, but we have lots of overhead resistance such as the 200dma and daily Ichimoku Clouds.
I'm looking for shorts to reset and looking for a flush to ~4000 or so - then buy with both hands for the last rally of the bull market.
/ES had a nice squeeze, recaptured the 50w SMA - but it got capped at the 200dma. We had a 50% retracement, but we have lots of overhead resistance such as the 200dma and daily Ichimoku Clouds.
I'm looking for shorts to reset and looking for a flush to ~4000 or so - then buy with both hands for the last rally of the bull market.
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Got stopped out at 200dma - makes sense when you look at the chart.
Re-entered short at 100dma/ .618 Fib confluence. Target = 4000 SPX - after that I'm looking for a swing long to 5100 or so before we enter a 10 year bear market.
Re-entered short at 100dma/ .618 Fib confluence. Target = 4000 SPX - after that I'm looking for a swing long to 5100 or so before we enter a 10 year bear market.
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Got stopped out and waited - today we got our sell signal.
SPX tagged the 100dma, as well as the .618 fib. From here - I am looking for ~4100 new low flush out, which would also finish out the 13 count Demark count.
4k would mark the final back test before we can make a rally up to 5100 or so for the final blow off top.
SPX tagged the 100dma, as well as the .618 fib. From here - I am looking for ~4100 new low flush out, which would also finish out the 13 count Demark count.
4k would mark the final back test before we can make a rally up to 5100 or so for the final blow off top.
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Still short from the highs on Feb 28th. They filled part of the gap and then closed it right on the 100dma.
April 3rd should be an interesting week.
April 3rd should be an interesting week.
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