116 replies to this topic

[K Wave]

And here is the current NQ 2 hour.

 

Common theme is that momo does not re-ignite at the tops....and stays declining as it rolls back over...

 

NQ is setup, but it has to actually rollover before momo re-ignites.

 

[andr99]

very possible..........a thing i had never taken into count and i' m learning now

Edited by andr99, 03 June 2020 - 05:04 PM.

[K Wave]

first 15 min bar after the re-open looking to take out 9680...if it finishes this way, top may be in....

[K Wave]

not quite fully ripe yet it looks...maybe another day to go....

[K Wave]

Bears finally managed to reclaim the 1 min 900 on NQ at 9680, and now are dealing with 3 min at 9650.

 

Once the 5 min gets taken out, that would likely be the first sign that we possibly have a real swing top in place...(currently around 9610)

 

But it always starts with the 1 min breach....then you watch and see if the others go by the wayside or not...

Edited by K Wave, 03 June 2020 - 10:33 PM.

[K Wave]

momo on 2 and 4 hour NQ charts now looking pretty tuckered out....

 

Could see one more brief pop upside, but if 3 min 900 gives way now, I have a feeling the cascade of time frames rolling over may begin...

[12SPX]

I was going to put buybacks on overnight but decided to add a little instead and see what happens, now my average sell is at 3108, profit stop just put on at 3105 but if it gets filled I'll be selling again!! 

[K Wave]

ES broke that 3112 area overnight, and bears successfully defended on the overnight backtest.

 

Unless bull can reclaim that pivot quickly, this may be fully cooked here for a bit....

 

just tagged the 3 min 900 at 3095...so now we see if they can break it or not soon...

Edited by K Wave, 04 June 2020 - 07:57 AM.

[K Wave]

NQ looks like 9680 area again key for today.

 

Back above that one more time, and likely see a final surge to slightly higher highs.

But if it starts trading consistently under 9650, then odds grow that we have seen the swing top...

[K Wave]

And still keep you eye on 3.05 on FNGD

 

got stopped at the floor pivot yesterday, but if that floor gets recaptured, the swing move in FANG index is likely over....