SPX - overview for the week of 7/23

Jul 23, 2023

Just the SPX and my thoughts on what may happen this week. FOMC on wednesday and PCE on friday so please be cautious before events like that.

Jul 23, 2023

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nasdaq close to an hourly trendline and already showing bull divergenve on the hourly. another low and then bounce seems to make sense for overnight

Jul 24, 2023

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Good morning, no sell off overnight. Looks like we may push up and then fall. It might be very choppy until FOMC so a scalping market might be the way to play it.

Jul 24, 2023

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a break down at open would probably be a trap

Jul 24, 2023

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right now this looks like an ABC, if so, target 4500 area....

Jul 24, 2023

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tech can come down more, but the gap may be support. 2hr rsi is very low.

Jul 24, 2023

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yes, tech is likely going to bounce hard, probably outperform. The market is going to get squeezed today

Jul 24, 2023

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15 minute rsi pointing to one more low.

Jul 24, 2023

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selling may get intense, but I see this - qqq

Jul 24, 2023

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still looks fine for one more low. A premature break of the upper red trendline would be bullish.

Jul 24, 2023

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watching this lower trendline for a breakdown - qqq

Jul 24, 2023

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objective short for qqq, could be a false breakdown so stops closeby

Jul 24, 2023

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at the apex of both lines

Jul 24, 2023

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redline broke, but orange hasn't. I think it's trap but we'll see if buyers can push it.

Jul 24, 2023

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SPX nothing has changed, still looks like B with C next.

Jul 24, 2023

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SPX will likely close at the highs today but I believe it's a bull trap.

Jul 24, 2023

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QQQ broke wedge and retested it. It's an objective long entry. I thought it was a false breakout, but it certainly can be this sell off is a bear trap and tomorrow we gap up esp on tech.

Jul 25, 2023

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nq popped up overnight, but a move down before a larger move up looks possible, same with spx

Jul 25, 2023

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spx at horizontal support. Small time frame rsi quite oversold, expecting a bounce and/or rally at open.

Jul 25, 2023

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could be ABC on QQQ -

Jul 25, 2023

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watch for possible head and shoulders here -

Jul 25, 2023

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NQ structure I'm watching. Still thinking we're in B with C next. Tech should outperform some more.

Jul 25, 2023

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if it's a bear flag, the target is about 4550, then we'll see how the rsi looks.

Jul 26, 2023

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this could be wrong, but smaller RSI needs to be reset. Part of the larger B wave before C. I will be away today, don't forget FOMC at 2pm.

Jul 26, 2023

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this is spx, but QQQ will move similar. THis is what "i think" is coming into and after fomc. Just an idea before I'm out for the day, fwiw -

Jul 27, 2023

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Good morning, the C wave on tech started overnight. Hard to say exactly where this ends, so be careful. I prefer collecting shorts slowly during the day. SPX also now near it's monthly BB target.

Jul 27, 2023

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Weakest index should be IWM, followed by SPX and NQ. TEch should stay strong for a little while longer, while IWM falls more than the others.

Jul 27, 2023

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C wave on SP -

Jul 28, 2023

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trendline break, looks like it's done. should bounce a little but I think it keeps going down. to 4500 area if correct