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Advantage BULLS: FED slight TILT? ES 4250 target


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#231 K Wave

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Posted 13 January 2023 - 03:41 PM

Naz back tested the 2 hour, and the blasted back through hourly for 2nd time....generally pretty bullish action when you see something like that....stop would be 11400

 

2 hour

 

 

Hourly

 


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#232 K Wave

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Posted 13 January 2023 - 03:46 PM

3rd major attack on the 200 gonna be the charm for Rusty?

 

Looks to me like bears fumbled it...unless a dip goes under 1800, likely time to start buyin' 'em.

 


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#233 K Wave

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Posted 13 January 2023 - 03:52 PM

As I mentioned over the weekend, Homebuilders were a tipoff that bears chances were perhaps dwindling over last number of days...

 

With today's bank action, coffin may be nailed shut....see what happens early next week.

 

 

 


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#234 K Wave

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Posted 13 January 2023 - 04:20 PM

Note that stick save on WFC is ALSO at the weekly 900...this Weekly and Daily combo is a very important area, and seeing a massive repudiation of the bears there should probably be noted, eh?

 

So unless there is a pretty much immediate reversal of today's reversal, bulls now get strong benefit of doubt.

 


Edited by K Wave, 13 January 2023 - 04:21 PM.

The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#235 K Wave

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Posted 13 January 2023 - 06:30 PM

For an example of what can happen with a Bearish Repudiation candle at the 900 day, here's NKE a few years back

 

 

 

And here is the aftermath...

 

 

 


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#236 12SPX

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Posted 14 January 2023 - 09:28 AM

Since everyone is hoping for a crash to happen this weekend lol, wanted to let everyone know I'm going into this long weekend at 4005 short lol!!  Market is in an interesting position with a little too much bullishness so will be interesting to see where we go in the end!!! 



#237 K Wave

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Posted 14 January 2023 - 10:03 AM

Since everyone is hoping for a crash to happen this weekend lol, wanted to let everyone know I'm going into this long weekend at 4005 short lol!!  Market is in an interesting position with a little too much bullishness so will be interesting to see where we go in the end!!! 

 

No doubt there will be pullbacks, but if the Rusty 200 day starts to kink back up, then bears are likely in for some pain for some time to come.

 

And if for some reason the power sticks on banks were actually fully reversed, that would be real bearish...but with FTSE just about to blast out of a 20+ year base, thinkin' that is not what is about to happen.

 

It looks to me like bears had their chance in early January, and blew it big time.

 


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#238 K Wave

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Posted 14 January 2023 - 10:13 AM

SOX also with a huge failure to breakdown after the mid-december reversal...

 

That U-turn does not look good for bears...

 


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#239 K Wave

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Posted 14 January 2023 - 10:17 AM

And speakin' of U turns....the failure of BTC to break and hold under 16.8K, was a huge tipoff that something not right with bear case.

 


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#240 12SPX

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Posted 14 January 2023 - 10:48 AM

 

Since everyone is hoping for a crash to happen this weekend lol, wanted to let everyone know I'm going into this long weekend at 4005 short lol!!  Market is in an interesting position with a little too much bullishness so will be interesting to see where we go in the end!!! 

 

No doubt there will be pullbacks, but if the Rusty 200 day starts to kink back up, then bears are likely in for some pain for some time to come.

 

And if for some reason the power sticks on banks were actually fully reversed, that would be real bearish...but with FTSE just about to blast out of a 20+ year base, thinkin' that is not what is about to happen.

 

It looks to me like bears had their chance in early January, and blew it big time.

 

 

As I've been saying were in grind mode and am still saying were in grind mode for at least a little while longer which means even if we do move to 4100 it'll grind its way there.  One thing that has changed is that the volatility index has got to levels that  worry me a bit because of its hesitancy to move there with call prices screaming bullish.  That tells me there could be an event to see the market have a sharp correction sometime in the nearer future.  No I'm not calling for a crash it will all remain in the grind mode because I don't think its quite time yet to have a big pullback.  May the grind continue or as entropy say's grindathon lol!!!