We did run down along the 30m downtrending line yesterday without ever even creating a funnel. Definitely a bit surprised given that there wasn't anything major occurring yesterday. Clearly the FOMC speakers must have felt like giving their personal guidance to the market even though the Fed as a whole continues to lack any clear guidance as an entity. This has bugged me a lot this year that individual members are allowed to provide their own personal insight while the actual organization as a whole appears to run like the feces hitting the oscillator.
Anyways, if you don't want the trends here they are;
Last Macro Trend Signal Spots
30m - 3994 Downtrend (11/28/2022) Lower Low
1Hr - 4031 Downtrend (11/25/2022) Higher Low
2Hr - 4016 Downtrend (11/27/2022) Higher Low
3Hr - 4008 Downtrend (11/27/2022) Higher Low
4Hr - 4005 Downtrend (11/27/2022) Higher Low
6Hr - 3935 Uptrend (11/10/2022) Higher High
12Hr - 3980 Uptrend (11/10/2022) Higher High
Daily - 3923 Uptrend (10/28/2022) Lower High
Weekly - 4366 Downtrend (2/14/2022) Higher Low
You can see we are in the exact same trends as yesterday. I managed to bail on my trade overnight for a whopping $50, but I've again just jumped back into a long at 3970, especially with that major downward move being on low volume. Ultimately I believe we run higher and I think we break the highs of 4049 in another leg up before we lose this rally and get to find our bottom.
No major Economic Data today, and this time no FOMC speakers I saw. Tomorrow is a big day though.
My sentiment remains;
Shorter Term - Bullish
Short Term - Bullish
Medium Term - Bullish/Neutral
Long Term - Neutral/Bearish
Anyways, if you don't want the trends here they are;
Last Macro Trend Signal Spots
30m - 3994 Downtrend (11/28/2022) Lower Low
1Hr - 4031 Downtrend (11/25/2022) Higher Low
2Hr - 4016 Downtrend (11/27/2022) Higher Low
3Hr - 4008 Downtrend (11/27/2022) Higher Low
4Hr - 4005 Downtrend (11/27/2022) Higher Low
6Hr - 3935 Uptrend (11/10/2022) Higher High
12Hr - 3980 Uptrend (11/10/2022) Higher High
Daily - 3923 Uptrend (10/28/2022) Lower High
Weekly - 4366 Downtrend (2/14/2022) Higher Low
You can see we are in the exact same trends as yesterday. I managed to bail on my trade overnight for a whopping $50, but I've again just jumped back into a long at 3970, especially with that major downward move being on low volume. Ultimately I believe we run higher and I think we break the highs of 4049 in another leg up before we lose this rally and get to find our bottom.
No major Economic Data today, and this time no FOMC speakers I saw. Tomorrow is a big day though.
My sentiment remains;
Shorter Term - Bullish
Short Term - Bullish
Medium Term - Bullish/Neutral
Long Term - Neutral/Bearish
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.