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CRITICAL MARKET SUPPORT HOLDS or ES plunges below 4100?


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#41 12SPX

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Posted 23 October 2023 - 09:27 AM

Gotta say it's interesting how short term puts are hanging  on to hopes for a crash today still, gonna be an interesting end to the day in the end....



#42 redfoliage2

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Posted 23 October 2023 - 09:42 AM

So the much hyped crash missed target and today it's likely the low for a while depending on earnings reports .................


Edited by redfoliage2, 23 October 2023 - 09:49 AM.


#43 redfoliage2

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Posted 23 October 2023 - 09:58 AM

Near term let's see if SPX can get back above the 200 dma currently 4235 ...........................


Edited by redfoliage2, 23 October 2023 - 10:04 AM.


#44 redfoliage2

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Posted 23 October 2023 - 10:25 AM

Near term let's see if SPX can get back above the 200 dma currently 4235 ...........................

But beware of a back kiss of the death .....................


Edited by redfoliage2, 23 October 2023 - 10:28 AM.


#45 K Wave

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Posted 23 October 2023 - 11:03 AM

Let's look at XLF....

 

The March low on the hourly exhibited at 200/900 "death cross" after a large decline with price and the 72 way below the cross...THOSE are often signals of the move down having run out of steam.

 

This one on the other hand, just rallied into the "death cross" area, a much more potentially dangerous situation, as a death cross very near to price action often indicate initiation of move in direction of the cross.

 

So, bulls really have to prove themselves here, or downside acceleration VERY possible...have to know where you are in the pattern...

 

We have some big pivots set now. should they fail, be real careful....

 

 

 


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

 

 


#46 K Wave

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Posted 23 October 2023 - 11:08 AM

So the much hyped crash missed target and today it's likely the low for a while depending on earnings reports .................

No way crash was gonna start before Softy and Google report tomorrow....but more damage can certainly be done.

And then Softy and Google could, or could not be the trigger....


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

 

 


#47 K Wave

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Posted 23 October 2023 - 11:15 AM

Looking like chance META gets full back test of the 5....

 

That area could be a big tell if it holds, or does not....

 

If it holds, and today's pivot low should get taken out, then more likely than not, big trouble on the way.

 

If it gets back through upside,  then the 350-360 final surge still potentially in the cards.

 

 

 


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

 

 


#48 K Wave

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Posted 23 October 2023 - 11:23 AM

MU...full floor recovery imminent...or....last gasp before giving up 67??

 

see if bulls can keep their romp going today.....or not

 

 

 


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

 

 


#49 K Wave

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Posted 23 October 2023 - 11:39 AM

TLT still jammin' .....85 level still big....


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

 

 


#50 dTraderB

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Posted 23 October 2023 - 11:41 AM

Short squeeze continues....
4268-73 major resistance zone

Breakout above that zone can quickly rally to testthe EXTREMELY STRONG & BROAD 4297 - 4302 ZONE