SPX Upcoming Weekly Analysis - Izzy's All in One indicator

Sep 10, 2023

Hello Traders! This week in the Market we have CPI (YoY) est. 3.6%, CPI (MoM) est. 0.6%, Core CPI est. 0.2%, and Crude Oil inventories on Wednesday and Jobless Claims est. 226K, Core Retail Sales (MoM) est. 0.4%, PPI (MoM) est. 0.4%, and Retail Sales (MoM) est. 0.2% on Thursday. When Market events happen the trend can go any and everywhere so we have 3 days of trending until then. Last week was a red Bear Candle, after Bear Candles appear they are confirmed with hollow candles following OR rejected by another green Bull Candle. Even when a Bear Trigger Candle is identified the majority of the times the next candle in any timeframe goes against the candle and the price rises creating the top wick before the fall. These are the times I wait for entry into a Short position. If the Bear Candle is rejected it will produce a green Bull Candle and we cover our short position and buy Calls or go long. The Bear Trigger 1 on the weekly is 4453.88. Today's price action will be crucial, if we reject the Bull candle on the daily we will drop below the MA and start to trigger and confirm the Weekly Bear Candle. If the Daily Bull candle is confirmed, the Bull Trigger 1 is 4462.54, we will be over the MA, the STO K%D% will be Bullish, and we will begin to reject the Bear Weekly Candle. Again, once the Candle is set the color does not change or get repainted, these highlighted trigger candles are very important. The last Bear Trigger on Sept 5th was confirmed and dropped 60+ points in 2 days before the current Bull Trigger Appeared. Once you understand the Weekly trend you can almost eliminate trades that go against the trend when trading on your shorter timeframe trades. I break every timeframe Candle in 4 actions: the open, the drop, the top, the close (bullish candles) and the open, the top, the drop, the close (bearish candles). Example: If I get ANY alert on the 1 hour timeframe I ALWAYS wait 15 min (60min / 4) to enter or consider it. The bottom wicks of bull candles and the top wicks of bear candles. The top and the drop. My guess is we reject this Bear Weekly and start to head back up to 4500 4525 range. Don't predict though lol. React to what you see. You are not moving the markets, just riding the wave. Be PAY-TIENT and I'll talk to you later! Love your family and yourself even more. I'm out.