There are no experts. Besides the auditors, where were the bankers, analysts, and masters of the universe? Either they were incompetent or chose to look the other way.
Market #ES_F waiting on Jackson hole & pattern since August 23 is a textbook bull flag -"flag pole" being the Aug 19-23 rally. Leg out of this likely last before a dip
Ideally, bulls base until Friday, as premature breakout may not be able to clear 4502 to open 4525, 4550 target
Solid downside for #ES_F (for once). As posted in melting up markets key to wait for a support loss (4436) & got a good 25 points
Support remains 4398-4395 & came shy so far, 4hr RSI(5) oversold so bounce likely. Bulls need above 4440 to sees ATH's again & stop next leg to 4335
Adam, you’ve been quite accurate on your levels. Can you explain why these levels are important besides Pavlovian trader response at support and resistance?
Market is very aware that a failure of ~4375 in #ES_F would finally trigger a large correction & it is once again being defended today for the 7th time after a brief wash below
Big inflection point here, and bulls will need to hold it to keep new another leg to ATHs in play
Market is very aware that a failure of ~4375 in #ES_F would finally trigger a large correction & it is once again being defended today for the 7th time after a brief wash below
Big inflection point here, and bulls will need to hold it to keep new another leg to ATHs in play
I know popular narrative says inflation has peaked. I disagree.I expect inflation to reaccelerate in 2nd half.Copper headed for $6,gold $2500 & silver $50.Even the softs like lumber,cotton,coffee,sugar & OJ are poised to head sharply higher.Inflation will become the story again.
@Viridian_Hawk@MarkGutman9 Maybe she’s the one front running knowing that the inflows to her stocks will follow. She continues to be a genius until Greater Fool Investing reverses. Very similar to Janus funds 1999. Many Morningstar funds of the year in 1999.
Most traders know patience is an essential skill, but what this means in practice is turning down 2,3,4 mediocre setups in a row (and even missing some moves) waiting for a true A+ setup. Profitability can be more about passing on the bad setups than catching the good ones
We rallied ~100 points off the lows today in #ES_F and now bumping back into that heavy 3675-3685 ceiling and this is once again the decision point. Bulls will need some correction here overnight. If it holds 3650, 3715 then 3760 play. If it doesn't, its back to 3620/3590 $SPX
Have a great weekend! After a 340 point rally $SPX pulled back this week. So far, its forming a bull flag
Plan next week: It breaks out at 3495 with 3575 & 3620 targets
If 3460 fails 1st though, it needs to fill out to 3410-20 support. Last chance to bid-below 3410 we selloff
The 3370 zone in #ES_F is a critical resistance area- this backtests the trendline from June that we broke down on on September 18th and caused the selloff to 3195.
Recapturing it is very bullish, but it will likely take a good pullback/sideways consolidation 1st. Must hold 3000
Keeping it simple in $GOLD: July-August 6 we trended. Consolidations follow trends & that's whats happening now
This consolidation is bullish above $1895-$1900 support, which is the trendline from the March. Below there, Gold likely corrects deeper to $1810 before upside resumes
We're very close to 3530 which has been my target for months and what happens if hit is critical. This is trendline resistance tested 8x since 2009. Id expect an initial short opp there
If bulls break that line after, we start an accelerated rally into the election $SPX #ES_F
Trump says “I don’t care what anybody says” when intel agencies disclosed Russia is interfering in our election to hurt Biden.
Of course he doesn’t.
He has solicited foreign help again and again.
From Russia, Ukraine & China.
He doesn’t care about our democracy. Only himself.