SPX - watch for backtest of 18ma

15 дек. 2022 г.

Futures sold off last night, but the rsi is starting to get somewhat low on smaller time frames. We are currently under the 18ma around (4k) and close to support at 3940, so a small sell off at open may be bought up quickly. I expect they will try to recapture the 18ma today and ultimately fail to do so. Main target is still 3900 and they could just sell straight to that level, but a bounce first would make sense to confuse traders. Good luck!

15 дек. 2022 г.

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potential bear flag takes us to 3900, so maybe no bounce. Personally taking some profit at open and letting the rest ride either way it goes.

15 дек. 2022 г.

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Regardless of bounce today or tomorrow (I do expect some fighting first), SPY target is the 18/10 ma on the weekly chart - currently at about 390. Strong support

15 дек. 2022 г.

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hard breakdown, getting close to 18/10 weekly cluster. Taking some off the table.

15 дек. 2022 г.

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also close to daily BB, a bear flag in this area would make sense.

15 дек. 2022 г.

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SPY 389 area strong support, many are looking at this I'm sure.

15 дек. 2022 г.

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qqq support also close

15 дек. 2022 г.

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potential structural support if 3900 doesn't hold

15 дек. 2022 г.

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2 hr hidden bull divergence, it may reach the orange trendline but taking a few longs on spy - very slowly - for a bounce, not much

15 дек. 2022 г.

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not expecting too much of a bounce - spy 392-394 maybe tomorrow or monday, then lower

15 дек. 2022 г.

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structural trendline reached