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CRITICAL MARKET SUPPORT HOLDS or ES plunges below 4100?


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#11 dTraderB

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Posted 22 October 2023 - 05:21 PM

"...We are in the midst of escalated geopolitical tensions, interest rates are rising, a speakerless House of Representative, and so on. And while uncertainty rises, we have a big earnings week coming up with some of the big tech stocks reporting."

There's a lot to look forward to next week. Fasten your seatbelts. It could be a turbulent ride.

S&P Breaks Below 200-Day Moving Average: It's Going to be a Big Volatile Ride
Jayanthi Gopalakrishnan | October 20, 2023 at 06:33 PM

REGIONAL BANKS FALL AS YIELDS RISE. Regional banks, as well as the big banks, have been feeling the pain of higher interest rates. Price levels are close to where they were in May when the regional bank fiasco occurred.
https://stockcharts....moving-342.html



#12 dTraderB

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Posted 22 October 2023 - 05:22 PM

On the Radar Next Week

Earnings from Alphabet, Inc. (GOOGL), Microsoft Corp. (MSFT), Snap, Inc. (SNAP), Boeing Co. (BA), Meta Platforms (META), Chevron Corp. (CVX) and many more.
September New Home Sales
Q3 GDP
September PCE

"...We are in the midst of escalated geopolitical tensions, interest rates are rising, a speakerless House of Representative, and so on. And while uncertainty rises, we have a big earnings week coming up with some of the big tech stocks reporting."

There's a lot to look forward to next week. Fasten your seatbelts. It could be a turbulent ride.

S&P Breaks Below 200-Day Moving Average: It's Going to be a Big Volatile Ride
Jayanthi Gopalakrishnan | October 20, 2023 at 06:33 PM

REGIONAL BANKS FALL AS YIELDS RISE. Regional banks, as well as the big banks, have been feeling the pain of higher interest rates. Price levels are close to where they were in May when the regional bank fiasco occurred.
https://stockcharts....moving-342.html



#13 dTraderB

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Posted 22 October 2023 - 05:24 PM

Complimentary Edition of the DecisionPoint "Weekly Wrap"
OCTOBER 20, 2023 AT 08:02 PM

Also today, the NYSE Composite ($NYA) and Materials Sector (XLB) 50-day EMAs crossed down through their 200-day EMAs (Death Cross), generating LT Trend Model SELL Signals.

Near-term support is arriving at the October low, but given the poor participation numbers and this new Death Cross, we would look for that level to be broken.

https://stockcharts....-the-d-519.html

#14 dTraderB

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Posted 22 October 2023 - 05:27 PM

SENTIMENT TRADER:
Credit Default Swaps may be flashing a warning
Key points

The trend in credit default swaps has reversed back to a downtrend
As highlighted in late September, a downtrend in the CDX Index can act as a warning sign
The model is best not used as a standalone trading model but as an alert of potential volatility and downdrafts
A quick review of credit spreads

To allow this article to stand on its own, the text below in this section and the An Overview of Credit Default Swaps section below are nearly identical to the text discussing these topics in this article, dated 2023-09-26.

This topic is being covered again because the 14-week EMA recently crossed back above the 25-week EMA.

A "credit spread" measures the difference in the current yield for a lower-rated security versus a higher-rated security. The lower the rating for a given debt instrument, the higher the likelihood the issuer will default and be unable to repay all of the promised interest and principal. The higher the rating for a given debt instrument, the less likely the issuer will default and be unable to repay all of the promised interest and principal.

https://mailchi.mp/b...or?e=b27dc45da1

#15 dTraderB

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Posted 22 October 2023 - 05:31 PM

BLOOMBERG:
Checking in on the Elves
The median year-end forecast for the S&P 500 among the Bloomberg Wall Street Week Elves remains unchanged at 4,435, but there were some recent below-the-surface moves. The indexs weekly decline snapped two straight gains.


Bank of Americas Savita Subramanian nudged up her outlook to 4,600 from 4,300, while Dennis DeBusschere at 22V Research dialed back to 4,400 from 4,600.

https://www.bloomber...silient-economy

#16 dTraderB

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Posted 22 October 2023 - 05:34 PM

Watch "Ralph Acampora - Technical Analysis & Basic Principles | Part 1" on YouTube

https://youtu.be/Rzc...Yvq7HCd92iKKAiA

#17 redfoliage2

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Posted 22 October 2023 - 05:41 PM

I'd expect SPX 4185 support soon to be tested ......................


Edited by redfoliage2, 22 October 2023 - 05:48 PM.


#18 redfoliage2

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Posted 22 October 2023 - 07:26 PM

I'd expect SPX 4185 support soon to be tested ......................

IT bullish trend was broken last week that is likely to lead to a test of SPX 4815 near term ................


Edited by redfoliage2, 22 October 2023 - 07:28 PM.


#19 redfoliage2

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Posted 23 October 2023 - 04:17 AM

 

I'd expect SPX 4185 support soon to be tested ......................

IT bullish trend was broken last week that is likely to lead to a test of SPX 4815 near term ................

 

Typo - I meant SPX 4185 .................



#20 dTraderB

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Posted 23 October 2023 - 04:49 AM

ES HEDGE LONG 4217.5

Closed 4256.5

ES 4246 HEDGE LONG
Still small NET SHORT
WANT TO END THE WEEK PROTECTING MOST OF THE PROFITS.