SPX - Wyckoff top possibility here
Update on the SPX, possible wyckoff top playing out here. Under 4070 and the market is going to start having some real problems.
Commentaire:
we're closing under the 18ma daily, bias is down.
Commentaire:
good morning, with the NVDA move last night the market finally got the bounce I thought was coming, so now we are close to a resistance zone of 4150-4160. RSI's on small time frames are reset my guess is something like this today at some point. If wrong I will update.
Commentaire:
gdp and jobless claims at 830, might be the turn, let's see. if not will update
Commentaire:
they keep hitting this resistance, a break above is bullish into the close.
Commentaire:
tech now showing daily bear divergence, it probably goes a bit higher into tomorrow at least. The market won't drop until the megacaps do.
Commentaire:
doji candle on the day, not really sure what to make of it, we didn't really follow through after getting above the mornings high. update tomorrow
Commentaire:
after the numbers this morning, they tested support and held. small time frame rsi is suggesting a pullback, but 4 hr has plenty of room to run up, so it's hard to tell what's setting up. More chop may mean some beaten down stocks rally. A higher high is still not out of the question on SPX
Commentaire:
maybe something like this if the top isnt in yet
Commentaire:
nope, they got right up to 4170 area - the next resistance mentioned in the video. It's possible this is a B completing, hard to tell, but here's the idea if C starts here.
Commentaire:
up to the gap area on SPX cash
Commentaire:
gap filled, it can go higher for sure even if it's a B wave and C next week.
