SPX is bullish over 3750, bonds I can't tell what is going on there but under 125 would be bad for bulls, Wheat, looks good still in channel, Gold also looks good although the dollar may rally again to 116, BTC could drop hard but it would be a buy for me. GOod luck
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Forgot oil - I expect a pullback at 88 but no lower low, might get back and test 82 area
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3750 reached, an hourly close above this area and I'm out of shorts
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might be the end of a C leg - looks bullish, but I' don't buy it just yet
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We've reached the .658 fib of the move down from yesterday. Everything looks bullish and any higher than 3780 will solidify the bull case. Keep in mind C waves LOOK bullish but they aren't. Selling from here would indicate the ABC is over and we go lower into the 3600's again. I'm not sure, so I've just decided to wait and see if they can get over this fib.
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We've reached the .658 fib of the move down from yesterday. Everything looks bullish and any higher than 3780 will solidify the bull case. Keep in mind C waves LOOK bullish but they aren't. Selling from here would indicate the ABC is over and we go lower into the 3600's again. I'm not sure, so I've just decided to wait and see if they can get over this fib.
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Market continues to go up, I got out of shorts. It may be a mistake but I don't want to lose the capital. Under today's low and I'll short again, but I'm expecting a continued rally to 4k as of now.
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We still haven't closed above the daily 18ma which is sitting at 3810 on ES. In general that means bias is down but I want to see how the overnight goes. Again under today's low and it's a short but that is a tall order right now. I'll have to wait for a better setup than here and now.
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We closed with a hanging man candle and still under the 18ma. Could it mean a reversal overnight again? Well that would be quite the whipsaw, so yes it's possible. Above 3820 on a daily close and the bias turns much more bullish www.investopedia.com...dlestick-pattern.asp
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" The hanging man comes after a price advance, it is bearish because it shows that price had been advancing over successive days. The bulls were firmly in control. But then on the day the hanging man formed, bulls were at first in control. But during the session the bears came in and pushed price down. The bulls came back in and pushed price up. But the reassertion of bears in the market, shows that bulls are no longer firmly in control."
