US Indices falls hard as CPI hits 11 year record high.
NDX: Suggests 1-2% bounce to its 200 MA then continue its path downhill for support at around 12700/12300.
SPX: Support at around 4050, if it goes trough next support is around 4000. (Had clear bearish divergence at top)
DJI: Should bounce to resistance at around 50 MA, then continue its path down for support at 33000.
RUT: Shoulder head pattern with bearish divergence at top, support at 2110, but let's be honest it will prob go trough.
Summary: Should see a bounce up in most indices tomorrow/friday. I suggest also having an eye on rates as their looking mighty fine for a melt up.
NDX: Suggests 1-2% bounce to its 200 MA then continue its path downhill for support at around 12700/12300.
SPX: Support at around 4050, if it goes trough next support is around 4000. (Had clear bearish divergence at top)
DJI: Should bounce to resistance at around 50 MA, then continue its path down for support at 33000.
RUT: Shoulder head pattern with bearish divergence at top, support at 2110, but let's be honest it will prob go trough.
Summary: Should see a bounce up in most indices tomorrow/friday. I suggest also having an eye on rates as their looking mighty fine for a melt up.
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VIX should have a breather to then break trough its trend and then continue up to 33.
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Gone just as planned, however we're now seeing an inverted W on most charts and a up trend from here wouldn't be impsossible.
Bitcoin crashing may however set a fear in the market and we'll see even further downside.
Keep an eye out, if it passes trough the inverted W formation it will likely go further down.
Bitcoin crashing may however set a fear in the market and we'll see even further downside.
Keep an eye out, if it passes trough the inverted W formation it will likely go further down.