State of the market - SPX + QQQ

8 août 2023

One more low is still possible to complete a falling wedge and more substantial panic before the bigger rally. I do think a larger multi day rally comes, but it could wait a day or two. I will update if anything changes. Good luck!

9 août 2023

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we broke out of the wedge structure so any test of it or a little lower is an objective long (with a reasonable stop in case it's a fake breakout).

9 août 2023

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If correct, target maybe around 4570 on spx - could be today or today and overnight before the numbers at 8:30 tomorrow.

9 août 2023

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target area reached, buyers need to come in if it's going to rally.

9 août 2023

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big fight at this level. Note the small time frame rsi is very low compared to yesterday's. A little lower is possible but I still think bulls have a shot at reversal here.

9 août 2023

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nope, bulls failed, repeat of yesterday. Bottom of wedge may become support, we'll see.

9 août 2023

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this looks like a reversal, but unless they can get over the yellow trendline, i remain cautious.

9 août 2023

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if they sell into the close, it would be different from the previous days, and possibly a bear trap into the numbers tomorrow.

9 août 2023

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very difficult to predict but I think this is what is happening into tomorrow's numbers at 830am.

10 août 2023

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looks like this maybe - watch out for the numbers at 830, good luck today!

10 août 2023

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yellow trendline reached on another chart, it may reverse here.

10 août 2023

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i adjusted the lines just to see if there was anything hidden. I found this - we may get a bear trap at open and then rally rest of day. The end of the impulse may have been the final low yesterday. Good luck! I will update

10 août 2023

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10 août 2023

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IF there is a pullback it should be bought. A leg has started IMO.

10 août 2023

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looks like it's processing a B wave. Watch for choppiness and a final move down sometime today.

10 août 2023

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they are buying the breakout area, but the rsi is warning of a possible further leg down for 5 on Q's - could be at least. be cautious.

10 août 2023

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Rally postponed it looks like - final leg down on tech and then bounce next week.