Chop till Friday possible - SPX500

12 окт. 2022 г.

With the economic news today (PPI at 8:30 and Fed minutes at 2pm) tomorrow (CPI and jobs data at 8:30) and then earnings starting Friday it may continue to be choppy. There are other possibilities, but two are shown - Over 3700 with a 4 hour close would be bullish (green arrow) A rejection at the green channel trendline may get us down to the weekly BB around 3500, but I still think it would be a buy area. Best to wait and see what happens on any fast moves and not jump to any conclusions. I still expect the October low this week.

Good luck!

12 окт. 2022 г.

Заметка

may get something like this today, be careful with position sizing

12 окт. 2022 г.

Заметка

this is looking possible right now. If we get to the trendline by 2pm, FOMC is probably a sell or at least lighten up on longs. A blast over it and hold would be a a stronger case for the bulls.

12 окт. 2022 г.

Заметка

another possibility is triangle, which makes sense with this chop