SPX- After Hours Data

22 апр. 2019 г.

Just a simple pattern with all of the extended hours of trading printed on the tape. I had been using this chart in my trading, but for some reason, I hadn't posted it yet for you all to see. The details shown in this really makes the SPY chart make more sense, and come alive. When you can track what happens at night you simply get a better picture; the devil is in the details.

So here you have it, Clear as Easter Sunday.

For 22 days we had been supported by as an ascending channel (support in yellow). Last week we finally broke below that support. At market close on Thursday, we had come back for a beautiful retest of support, and as of Sunday night, we have confirmed that as resistance as we have rejected it so far. Can we still potentially push up to the top of that resistance to 2930? sure. Could we get a blow-off top that gets even higher, of course, we could. Am I very opinionated and calling for this to crash hard tomorrow and through next week? I think so, and unfortunately, that's just my opinion, at this stage in the game there is absolutely NO technical indicator or sign that will tell you one way or the other ( between the three options. ) There comes a point where you have to feel your gut and not argue with your gut, and everyone's gut's different and so then it becomes very personal. If you have solid Technicals, Good Risk Management, Willing to close anything out that does not do exactly as you expected, Control your emotions, and listen to your gut... Then you will be an extremely successful trader. For me, I added shorts to the retest in after hours tonight at open at 2911. I am using a platform that allows multiple entries and leveling at spread cost for commissions. So .. Its so nice compared to buying clumps at $7 per trade.

The peak- Our high so far on this bounce hit perfectly with our prior peak to the real ATH. Which of course is obvious resistance, the final resistance (horizontal) before you reach the ATH resistance. But the way that sold off... man... It didn't sell off like normal pullbacks or peaks. It did it differently and I cannot tell you how. Just with more desperation/force maybe? It got slam dunked. I care because I am looking for changes in behavior and that could be a small clue... remember 'the devils in the details'

I am very curious about what will happen in the premarket as typically they get the PUMP. If it doesn't, then it is another change in behavior. Almost all of last week was pump at night sell off and distribute into the public bag holders. having a few days of that in a row ends up looking like a hot mess on the daily chart when looking at their candles. Right in the middle, we got a bearish engulfing and we did close red Thursday after that. We had similar daily candle bars right before we had our biggest drawback yet on this bounce around March 3. Use, SPY chart for viewing those candles.

I think that the final purple support break will be the most impulsive break of the lines, as it will be a no doubt about it break. But I do like to get my self some wiggle room, as break out trading can be risky business.

Can we push a little higher, Of course, we can. We could even break the ATH. But just be ready at any moment because things are getting shaky in the different sectors and across currencies as well. Many things are sitting right on significant supports right now, so be ready to jump on the Da Bears Train, next stop crash town.

22 апр. 2019 г.

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