6 replies to this topic

[SemiBizz]

And then there's NO BREAKOUT...here:

 

[SemiBizz]

Actually, the Nasdaq ended up holding up the best today as it finished inside the previous range and held the previous low...meanwhile the RUT and SPX finished UNDER the previous low...

 

Not good body language going into tomorrow..

[SemiBizz]

ES down 18 handles to start the day...

 

SPX 2701 is make it or break it pivot...

 

Under 2701... back under upper down trend line...

 

False breakout complete.

 

We'll see if they can hold it down there in this lighter volume into the holiday environment.

 

Or if they just turn it back up after a test of 2701.

Edited by SemiBizz, 23 May 2018 - 08:08 AM.

[tsharp]

From this morning's insta update... they call it geopolitical concerns.. I just call it wave-c:ii.,.. been calling for another drop towards the DTL for days... now it's here.

 

 

Link to chart:  https://postimg.cc/image/ty14d9pa1/

[SemiBizz]

Friday's Chart:

 

[SemiBizz]

So far SPX doing everything we expected today:

 

From Today's SPX Forecast:

 

SPX OUTSIDE REVERSAL ON STRONGER VOLUME - CLOSING UNDER PREVIOUS LOW - and into the gap, so that was a sign of weakness, and we can look for an attempt to fill that gap now back at 2712.97... SPX closed in a bad spot at 2724 and needs to climb and MAINTAIN 2727 to be on a more bullish footing... we're looking for some follow through downside testing ... closed at 2724

 

[tsharp]

From this morning's insta update... they call it geopolitical concerns.. I just call it wave-c:ii.,.. been calling for another drop towards the DTL for days... now it's here.

 

 

Link to chart:  https://postimg.cc/image/ty14d9pa1/

 

From this morning's insta: 

For days I've been calling for another move downward towards the larger DTL to complete wave-ii, before the next thrust upward in a smaller wave-iii would begin... we are now seeing that downward move.

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This was expected and will resolve with with a low probably in the ~2700 range over the next day or so, then back up we go... time will tell.

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It appears we have the wave-c:ii low is complete and now the SPX should be pushing back upward in a smaller wave-:III... we shall see.

 

 

Link to chart:  https://postimg.cc/image/ozwhoeint/

Edited by tsharp, 23 May 2018 - 03:53 PM.