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Consolidation with Cup and Handle Patterns


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#21 K Wave

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Posted 19 June 2020 - 09:14 AM

back to green...now bulls need to step on the gas pronto...


Edited by K Wave, 19 June 2020 - 09:15 AM.

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#22 K Wave

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Posted 19 June 2020 - 09:19 AM

Trannies 3 min has been the controller for that last swing down...this back test of the break out attempt needs to hold....

 

djt.png


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#23 12SPX

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Posted 19 June 2020 - 09:22 AM

 

Markets not up because of that news overnight, its because of expiration and the 18 billion amount of POMO from the Fed lol!  I am surprised were up as this is likely going to indicate a higher percentage that there will be a down expiration cycle for July!  I'll know more after the close!

Good morning 12SPX,

 

could you please elaborate on how you read these things to come up with a down July expiration cycle?

 

Thanks, gis

 

I'll send you a message about it, basically a calculation starting from the actual expiration number and then other factors applied! 



#24 12SPX

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Posted 19 June 2020 - 09:35 AM

Dang knew that profit stop was to tight, might start looking for a long soon!



#25 12SPX

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Posted 19 June 2020 - 09:43 AM

Trying a long ES at 3124, see if I need to build it or not!! 



#26 K Wave

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Posted 19 June 2020 - 09:52 AM

Trannies went for the full meal deal on the pull back....that 9180 must hold as the low now...

 

Back above 9230 again, and bulls likely start to regain their footing...


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#27 12SPX

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Posted 19 June 2020 - 09:59 AM

Rats out for 1 point on my profit stop, try again at 3124!



#28 K Wave

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Posted 19 June 2020 - 10:00 AM

Trannies still no juice...a 2nd hour close under 9180 would not look good for the bulls.

 

And if it does do that, may only be a matter of time until the rest of market gets infected...

 

let's see how we finish out the next 30 min..could be for all the marbles for the next swing move...


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#29 K Wave

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Posted 19 June 2020 - 10:05 AM

RUT still holding well at the potential breakout point...

 

Is RUT going to drag the Trannies higher, or vice versa???

 

Should have an idea soon...this big divergence not likely going to last much longer...


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#30 12SPX

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Posted 19 June 2020 - 10:05 AM

Profit stop at 3125!