by Carlos Narváez | Dec 5, 2016 | Market Update, RQLAB
The most relevant information from the price is that 91.76 held on $TNA as seen here (link). Should the price advance above 96.50 we can consider bottom is in. Contrary case immediate target for the market is 88.46. Since we expect action to be after hours, potential exists that any gap down satisfies our 88.46 target on $TNA through $TF.
The shape of the short term and long term razzmatazz waves continue being bearish. PCR (Put to Call Ratio) is at 2.916, that provides a neutral to bearish approximation for the market too. 2C-P readings are not low enough to signal a rally can start or can be sustained.
We maintain a solid buying range for from 86.45 to 84.82. This does not exclude 77 from our eyes, since as reported on November 7th this move still can be a diagonal 77 is equivalent to .618 from the last low, chart here:
Picture continue being mixed. Reason we sold our position bought at 91.99 while we wait for more information from the price.
by Carlos Narváez | Dec 1, 2016 | Market Update, RQLAB
Previous update November 29th
Over the weekend we updated our approximation for the market to neutral and de-risked our accounts, but yesterday we traded $TNA on the long side, simply because possibility exists for our call to be wrong.
Yesterday our base case got some foundation from the sentiment. As we reported, by the close $TNA developed what clearly can be counted as five waves down, chart here (
link) standard fibonacci retraces for wave 2 up are 96.75 and 97.28, but ought to excursiveness of bullish sentiment from traders, we can move that target to 98.49. Excepting TNA moves above 99.01 we maintain that a 3rd wave down is to develop.
For major support areas please refer to weekend update, retraces for wave 4, here (
link), previous 1% and .886 at retrace here in gray, (
link). Average of 135 minute Good for Entry at 87.65. Attached. Our solid buying range goes from 86.45 to 84.82.
Current update
Monthly retraces for $TNA are as following: .886 retrace 91.76, chart here (
link) previous 1% at 87.15 as seen here (
link), the alt micro count projects a bottom to 92.03 equivalent to 2.118 extension, standard is 1.764 at 92.78 as seen here (
link), but given current action 2.118 seems more likely. Additionally 1% extension in the gray count -that represents our base count- chart here (
link) is at 91.95, that’s too close to .886 support at 91.76, and even the market can stretch to 88.46 (
link) being short under 91.76 might be extremely dangerous since we are looking for the bottom of wave iv of 3 of 5 not the end of Western civilization.
We have a solid buying range from 86.45 to 84.82 as discussed on November 29th, but on #RQLab we will accumulate $TNA at 91.95 and 88.46, since conservative target is at 102.
by Alpha | Nov 28, 2016 | IKE, Market Update
The following charts provide some details on how major US indices are setting up!! Please check us in the room for further details, trade setups and ideas.. !
$ZN_F Daily Chart
$ZN_F Weekly Chart
$ES_F Daily Chart
$SPX Weekly Chart
$GC_F Daily Chart
$GC_F Weekly Chart
$CVX Weekly Chart
Thanks,
IKE
by IKE | Oct 17, 2016 | IKE, Market Update
Looking at the historical charts for $SPX, it has broken down, major support areas, with possible Wave 3 or C target 2078-2083 on $ES_F .
A weekly SPX close below 2099 should signal a Bull Breakout failure and the onset of a BearTrend well into 2017..Will this happen I do not know but the technical setup is there
$ES_F Weekly Chart
$ES_F Daily Chart
$ES_F 15 Minute Chart for a trade with good Risk Reward possible target 2083 , unless high get taken out
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See you in the chat room
Thanks
-IKE
by IKE | Oct 3, 2016 | Business, IKE, Market Update
looking at the historical charts for $SPX, it has closed within 5.3 point range within three months, so there is absolutely no upside follow through, does this mean we wont break up this tight range? For us to find out in the upcoming weeks, as we get into the historical US presidential elections.
Looking at the $ES_F
- Intra-day: the 60 minutes chart is bullish
- 240 Minutes chart is Bearish
- Daily is bearish
- Weekly is Bullish
Net results today should be a down day, for it to resolve..
240 Minute chart ($ES_F)
The Daily $ES_F chart below shows the corrective pattern of this move up. Many candle bars overlap within the triangle which needs to resolve itself, up or down, Count on this chart assumes the downside, however upside resolution is not out of the questions. Close below 2132 should mean further downside to below Sept lows and close above 2182.75 should mean new ATHs.
given this tight range we have been doing IRON Condor on $SPY and $SPX every week, check room for details
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Thanks
-IKE
by Alpha | Oct 3, 2016 | Market Update, Pre-Market
PRE-MARKET MOVERS
UPGRADES
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