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And the triangle has resolved to the downside.  False breakdown or are we headed to new lows?

Although I can't say I am surprised that it's dancing around the 4500 mark on ES.  This is such a fat, juicy, round number to bet on.  I think the real tell will be Monday.

As expected, OpEx fireworks today

Posted by patellee on 15th of Sep 2023 at 01:33 pm

As expected, OpEx fireworks today and unfortunately, not seeing a clear bottom here on ES.  Last night we saw the top of the wedge rejected and today we saw the bottom of the wedge clearly broken.  Not a good sign.  If we lose 4492 today then the next support is around 4466, 4410, and then look out below.  There are some A's showing up on the hourly and 15m SPX but my sense is the bulls are all out of energy.  What are other's seeing?

I set my Stochs to

VIX a 3rd day below the lower BB now

Posted by patellee on 1st of Sep 2023 at 07:07 pm

I set my Stochs to Length: 22, Up: 2.8, Down -2.2.

With those settings VIX is yet to close outside the lower BB yet.

I see a small gap 4578-4596.  I expect that to close Tuesday/Wednesday next week at which point I am going to cash.

On /ES, we have an expanding triangle which usually has 5 waves and I see the fifth fave just kicked off today and will likely complete next week.

My guess it's a bit early for those systems.  Barring any news this week; we likely have legs on this rally to at least 4550.  

Looking at 4344 as the bottom on this move.  If that doesn't hold then 4374, 4325, and then 4287

Zooming way out, there is

SPX 5

Posted by patellee on 24th of Aug 2023 at 03:38 pm

Zooming way out, there is also an open gap from June 9; 4305.75-4348.75 that also needs to be filled.  Maybe that happens tmw?

Does anyone else see a head and shoulders on $SPX?  Unless we clear today's highs this seems pretty dire to me.  Once we lose the lows of last week, look out below.

The  lows are not holding.  This likely means we see new lows post Jerome tmw.  Today is sell the rumor and tmw will be sell the news.

And many folks are probably hedging their bets with Jerome up tmw.

This looks like a megaphone

Posted by patellee on 24th of Aug 2023 at 10:51 am

This looks like a megaphone topping pattern on ES.  4416 needs to hold or this may have been a false breakout.

If I am reading things

Posted by patellee on 23rd of Aug 2023 at 03:07 pm

If I am reading things right, NVIDIA options are showing traders positioned for an 11% move after hours.  Question is + $50 or - $50?

ES operating in channel.  Would

SPX 10 Views

Posted by patellee on 22nd of Aug 2023 at 11:39 am

ES operating in channel.  Would others consider this to be a bear flag or just a channel?

I am not seeing the

KISS systems

Posted by patellee on 20th of Aug 2023 at 04:25 pm

I am not seeing the "last trade" column on my STS tables.  Is there a setting I need to flip?

I meant to say I have been LONG for a week and taking heat.  I was caught a bit off guard on the depth of the dump.  

Does anyone have a link

Posted by patellee on 18th of Aug 2023 at 01:37 pm

Does anyone have a link to the live SPY charts that show the A's in realtime on various timeframes?  My gut tells me there may be some A's showing up today.

I don’t think so.  I called 4347 the bottom yesterday here:   https://breakpointtrades.com/blog/post/408415/.

we got close enough.  We need above 4394 for any sort of rally though.

Although I’ve been for a week now and taking some heat.  So being a bit patient here.

Tough to catch a falling knife.  I think this will go down to 4347 before any bounce.  I'm somewhat surprised though given some of the systems went long and those systems are old reliable.  I expected a bounce by now.

Did XLE disappear from anyone

Posted by patellee on 4th of Aug 2023 at 06:28 pm

Did XLE disappear from anyone elses STS tables?  I don't see it on mine any longer.

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