Title: Top Down Approach Discussion and how to View BPT - Click on Title

Hi Matt/steve, is today highly

Posted by kevindeng0727 on 16th of Jun 2020 at 09:18 am

Hi Matt/steve, is today highly likely to be a trend day?

Thursday Newsletter

Posted by steve on 24th of Sep 2020 at 07:26 pm

ATEC nice move

Posted by matt on 24th of Sep 2020 at 03:56 pm

ATEC - Chart Link- as I mentioned other day was probably one of my favorite patterns

SPX 60 min

Posted by matt on 24th of Sep 2020 at 03:52 pm

$SPX - Chart Link- here's yet another option, ending diagonal would potentially have one more move lower in the wedge to complete it, i.e. abcde instead of just abc

price bounced off that low, had a Tick Extreme support there, so was a logical place for price to bounce from

ATEC nice move 

ATEC Updated View

Posted by steve on 24th of Sep 2020 at 03:44 pm

ATEC nice move 

probably what you are observing

too early to say.  I mean the bullish case is that we put in a wave c low but it's not confirmed that c is done either.  otherwise on the main trend, nothing has changed yet, there's no symmetry breaks on the 60 min charts, this bounce has not exceeded the previous rallies and you still have lower highs in place. Basically nothing has confirmed so could go either way price could have made a good low today, or it could still come down again with wave c  on going.

Update: Update: Update: SPX 5 min

SPX 5 min

Posted by matt on 24th of Sep 2020 at 02:29 pm

$SPX - Chart Link updated 5 min view, I added symmetry, the largest intra day pullback was 33 points this morning, the current pullback off the highs has not matched or exceeded that

ATEC Updated View

Posted by steve on 24th of Sep 2020 at 02:10 pm

SPX 5

Posted by steve on 24th of Sep 2020 at 01:03 pm

$SPX - Chart Link - retest of today's highs

Around that primary pivot we

SPX 5 min

Posted by matt on 24th of Sep 2020 at 12:38 pm

Around that primary pivot we also had a TICK spike above 1000 that corresponded with that intra day high

Update: Update: SPX 5 min

SPX 5 min

Posted by matt on 24th of Sep 2020 at 12:37 pm

$SPX - Chart Link- 10 min, again so far can only count an abc up, 

GDX follow up

Posted by matt on 24th of Sep 2020 at 12:30 pm

GDX - Chart Link- nice rally off that support and symmetry target so far

SPX 10 with Fibs

Posted by steve on 24th of Sep 2020 at 12:28 pm

$SPX - Chart Link- SPX stalled thus far near its primary pivot 3264

so far that was a nice buy on the 2nd entry this morning

Posted by matt on 24th of Sep 2020 at 12:26 pm

so far at least that was a nice move off the morning open 2nd entry SPY trade

the 320 call was trading for 15.4 now is 17.3, and SSO ptivr 67.6 now 69.17

otherwise still can't count an impulse up yet, only abc

ES resistance 3250-60 

updated 60 min SPX

Posted by steve on 24th of Sep 2020 at 12:18 pm

ES resistance 3250-60 

updated 60 min SPX

Posted by matt on 24th of Sep 2020 at 11:45 am

$SPX - Chart Link- as you know we made a slight new low this morning, there is MACD divergence there, and could that be it for c? too early to tell but that count is obviously more complete than it was on that b wave bounce as we needed at least 1 more down move for c.  

oh that will be a

how is the two hr kiss looking

Posted by matt on 24th of Sep 2020 at 11:44 am

oh that will be a while still, here's an updated image of QQQ and SPX 120 min

yeah the KISS systems will need enough of an upside move to trigger long so depending on what the market does that will either be at higher prices from now if the market is near a low, or could be lower if the market has more yet to go to the downside - but it will need a good reversal up off the lows so won't catch bottoms.

the only time the KISS daily can buy basically at the bottomis when you get those very rare exhaustion oversold conditions, but those are very rare  and hard to trigger like the Mar 24th low, Dec 26 2018 low, and Mar 2009 lows, I think there were 1 or 2 more but it's hard to trigger and not something I would count on this time unless the market simply implodes

GDX is basically moving here

GDX bouncded off that support

Posted by matt on 24th of Sep 2020 at 10:35 am

GDX is basically moving here with the SPX in the short term

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