MUDEAST "PEACE" Relief rally may go all the way to new ATH but it will be tough going for BULLS during the next few week IF US$ trades above 104. It is now trading at 105.75
Will add SPY & QQQ PUTS above ES 5225 & NQ 18400
Posted 14 April 2024 - 08:04 PM
MUDEAST "PEACE" Relief rally may go all the way to new ATH but it will be tough going for BULLS during the next few week IF US$ trades above 104. It is now trading at 105.75
Will add SPY & QQQ PUTS above ES 5225 & NQ 18400
Posted 14 April 2024 - 08:07 PM
"After hotter-than-expected CPI reports in December, January, and February, the markets sold off – just like they did last Wednesday. But Our Chart of the Week shows that all three times, the weakness was short-lived and the markets went on to rally after a day or two. To Fundstrat’s Head of Research Tom Lee, this means that the market reaction after last Wednesday’s CPI release was a dip that is buyable."
Head of Technical Strategy FUNDSTRATSPX break of 5146 is a negative for today and puts 5100 into play for support on pullbacks into early next week. This still does not change the thinking that this decline will prove short-lived, but 4/20 timeframe should be a low which would be next week. I anticipate that this might happen earlier than Friday and might be Mon-Wed, but will review- For now, a bearish break on SPX and have to be patient
MUDEAST "PEACE" Relief rally may go all the way to new ATH but it will be tough going for BULLS during the next few week IF US$ trades above 104. It is now trading at 105.75
Will add SPY & QQQ PUTS above ES 5225 & NQ 18400
Posted 14 April 2024 - 10:52 PM
Posted 14 April 2024 - 11:23 PM
This is a ST low and the market is likely to go up tomorrow regardless if more missiles are fired or not in the mudeast .....................
Edited by redfoliage2, 14 April 2024 - 11:30 PM.
Posted 15 April 2024 - 06:12 AM
Posted 15 April 2024 - 07:44 AM
Morning, late start, up to many times last night lol! Didn't matter anyhow as it was smarter to hold off until morning to see how we look. At this stage as I've said I'd rather be short until we get a flush and Friday's move was not a flush in my view and any moment we could get a response from Israel such as taking out Irans nuclear plant. Futures are up way to much with more strong economic data and bond yields making new yield highs for this move. Will be an interesting cash open for sure I think, short from 5200 on the ES
Posted 15 April 2024 - 08:13 AM
Posted 15 April 2024 - 08:24 AM
Edited by dTraderB, 15 April 2024 - 08:26 AM.
Posted 15 April 2024 - 08:31 AM
Posted 15 April 2024 - 08:32 AM
NQ 18300 LONG