ES... 12hr tf will have a strong MACD bearish cross today that is supported with candles. Something to be cautious of moving forward. Hidden bearish divergences are prevalent until they are negated by a higher high in price. Magnitude of this cross is much larger than the last two instances suggesting this decline could be larger in scale. IF this next leg lower unfolds, then timing projects into early/mid-July. GLTA!
VIX - should tomorrow's price action gap up and go, then this would create a fry pan bottom on the daily tf - this would align with many stocks like AAPL that appear to have created island tops on the daily tf. GLTA!
Everyone was obsessing so much over Treasuries, they forgot the real bond shitshow is in Japan where the wheels are about to fall off (and the countdown to YCC is back on)
*JAPAN 20-YEAR BOND SALE DRAWS WEAKEST DEMAND RATIO SINCE 2012
@IncomeSharks@Rager Ending diagonal for wave 5... normally will retrace to the origin. Many times these ending diagonals mark toss of some degree. Glta!
@IncomeSharks@EliteOptions2 Plus no institution buying yet... if price closes below Monday's gap up then could accelerate lower. Until then just consolidation. Glta!
META - 12hr tf has a bearish MACD cross - note how the last two declines began with a similar set-up in MACD (this time the magnitude is higher so the decline should be more robust). Weekly tf has a similar technical set-up as 2022 (note the volume profile is very similar as well as the candle set-up; MAs are also in a similar alignment as they have not confirmed a bullish cross). Should this week's close be a bearish engulfing candle, then the recipe is there for this Bearish pot to cook. Daily tf has a 3 GAP formation, so this lower path has support. A fall below 588.98 would indicate more of a bearish posture than a bullish one. A weekly close over $688.65 would put this path towards an all-time high in a very high probability zone. Next two weekly closures are very important. Should the bearish path unfold, then it will likey be just the A wave down of a much larger corrective cycle that could last many more quarters. GLTA!
FWIW... many hourly timeframes (1hr - 12hr) MACD readings are similar to BTC and META in that they do not support this recent push higher... so many bearish divergences across multiple hourly tfs. Might be something could be nothing - time will tell. GLTA!
I actually predicted this when i and handfull of other effort posters stopped caring.
Originally it was always a small group that was basically delivering all content and pushing "education" and discourse in ct nolife trading community, 99% of others was just reposting/rewriting content, as a rule most of times for bigger audiences. Good metaphor is big river formation out of smoll streams.
As original and organic core discourse stream went dry so did the thing as a whole.
@GuyTalksFinance I teach this to my students. Start buying 1 SPY or QQQ every month round same day from 18. Need to do it for 20y straight. Can stop and let it sit for anther 20y cycle. Est. $3M+, invest for both cycles $6M+; Let that sit for another 7y then roughly $23M+. Glta!
@sama As long as humans program, there will be their biases implemented into the design... no way around it unless computers program computers for a long enough duration to eventually half out the original programmer's biases down to an infinitesimal amount. Glta!
After a few decades of trading one thing is certain. Elliott Wave & just about every other form of TA is nearly worthless in a headline-driven market. About the best you can use are very small timeframes (hourly & under). Those saying otherwise I have a bridge to sell. 👊🏽
You’re not just looking at the sun. You’re remembering who you are.
Your body was designed for light.
Your healing begins the moment you reconnect to nature’s rhythm.
Don’t just wake up. Return to the source.
I appreciate you reading and I hope you found this valuable
Love, @juleshorn01
$DJIA Just realized the Dow closed back below the 200sma yesterday and rejected it today. In 2022 and 2008 it pulled similar moves when topping out. Definitely something to watch if this doesn't resolve.
*NFA