47 replies to this topic

[redfoliage2]

possible targets;

NAZ 11350

SPX 3380

Edited by redfoliage2, 22 September 2020 - 01:40 PM.

[Darris]

QQQ nearing the retake of 50 day simple moving average and 10 day ema.  Bullish on closes above after tapping the 21 day lower BB.  Nice quick 14% correction is probably over for a while.

[salam]

I’m expecting a reversal back to test 3200  most likely Thursday/Friday. Tech breadth was 1:1 today. 
 

3340 area if 3320 breached, 

[K Wave]

We got the day and half wonder rally...if 11,200 continues hold as resistance on NQ, then just typical bear bounce action.

 

If bulls break above 11,200 and hold it, then they may start to turn the tide.

 

Until Dow reclaims the big yellow line at 27400-500 area, this market still in a potentially dangerous position more intermediate term.... K.I.S.S

 

Edited by K Wave, 23 September 2020 - 07:24 AM.

[K Wave]

YM hourly...after a long rally, 900 MA has given way, and now back testing previous floor....

 

 

Yes, it is possible that this is just a big shakeout, but until the floor is solidly reclaimed, a lot of potential risk here as summation indexes continue to implode.....

 

https://stockcharts....id=p83733137120

https://stockcharts....id=p44465978337

 

 

[K Wave]

Keep your eye on FDX here near term....managed to hold 5 min 900 after massive vertical rally over past few months, but if that now gives way, 2 hour chart suggests it could see huge correction quickly....A LOT of air on the 2 hour chart here.....

 

And if FDX sees a huge imminent correction, likely market would at least somewhat go with it....

 

FDX 5 min

 

 

FDX 2 hour

 

[gm_general]

SPX MACD has still been dropping steadily during this up move. From what I observed this MACD structure since Feb 2020 is analogous to the one that bottomed in Dec 2018, but it is scaled up in size, like a resonation that gets louder. In the previous case the up move in index after Dec 2018 paused for a 38% retrace. If the analogy holds a 38% retrace here would bring us to 3050s.

[K Wave]

YM..... KABOOM right where expected....now we see if bears can reclaim the battleground area around 27100

Edited by K Wave, 23 September 2020 - 09:13 AM.

[K Wave]

TSLA looking more an more like a failed rally attempt.....now entering huge air gap window on hourly chart....

 

as long as remains below 420 now, in dangerous territory....

[K Wave]

FDX still holding its own....see if this opening pop completely reverses or not....