99 replies to this topic

[redfoliage2]

Under SPX 4100 the IT bullish case is in jeopardy .....................

[redfoliage2]

But I'd like to see if bulls able to reclaim SPX pivot line 4100 by the close just as it did yesterday  .........................

Edited by redfoliage2, 05 April 2023 - 10:23 AM.

[redfoliage2]

Expect the consolidation to continue with the market to stay in a narrow range for this holiday-shortened week ................ 

The market spent almost the whole week in consolidation as I predicted.  Now with the ST over-bought conditions worked out it's likely for the market to bounce up next week ........................

[redfoliage2]

But I'd not be holding big positions over the long weekend as the current market is mainly data driven ............................

[redfoliage2]

A range bound market till Wednesday when CPI is updated.  So expect dips to be bought and bounces sold ............................

[redfoliage2]

A range bound market till Wednesday when CPI is updated.  So expect dips to be bought and bounces sold ............................

BTW, I see MOM CPI likely lower. 

Edited by redfoliage2, 10 April 2023 - 09:14 AM.

[redfoliage2]

SPX reversed at the bottom of the range 4073, now moving up to the top of the range SPX 4130 - 4135 ............................

Edited by redfoliage2, 10 April 2023 - 01:49 PM.

[redfoliage2]

Since the beginning of the month the market has been doing consolidation in a tight range, looking for a trigger to break out.  Now let's see if tomorrow's CPI will do it  .................... 

Edited by redfoliage2, 11 April 2023 - 12:59 PM.

[redfoliage2]

CPI much lower from 04% down to 0.1% MOM, and YOY also lower.................

Edited by redfoliage2, 12 April 2023 - 07:44 AM.

[redfoliage2]

SPX breakout in play .....................