SPX 30 min

    Posted by matt on 24th of Jan 2022 at 02:06 pm

    $SPX - Chart Link- we also got a symmetry break relative to the Jan 12th high - here's a 30 min

    Does the 15 min Symmetry

    Posted by generic on 24th of Jan 2022 at 02:13 pm

    Does the 15 min Symmetry that we went above now become support ?

    what I don't know is

    Posted by matt on 24th of Jan 2022 at 02:13 pm

    what I don't know is if this is a wave 4 or not needing a 5. Waiting for Steve to chime in with an opinion  - so far there's only 3 waves up

    Long ways to go to

    Posted by steve on 24th of Jan 2022 at 02:36 pm

    Long ways to go to confirm any type of bottom - IWM strongest would need 205 for starters (thus far just a normal wave 4  in the 198-202 range)  Biggest risk is still probably complacency

    Steve mentioned a 200 point

    Posted by retirefire on 25th of Jan 2022 at 08:47 am

    Steve mentioned a 200 point move Possibility for a wave 4 up. Yesterday's move was 190 off the low. I know we follow price but is this cautionary as a new low ... or just too much conjecture?

    Just trade what's in front

    Posted by steve on 25th of Jan 2022 at 08:56 am

    Just trade what's in front of you - mapping this is extremely subjective.  Many should simply curtail or refrain from trading without a clear cut low risk setup

    If that's not enough, you

    Posted by steve on 25th of Jan 2022 at 09:01 am

    If that's not enough, you also have the Russia/Ukraine situation in the backdrop

    Make no mistake, the key driver of the market of late is the FED having moved to fight inflation into a SLOWING ECONOMY

    Trader Comments 

    In the same way that some older investors struggled with the notion of a “fiscal put” in March 2020, they’re struggling with the fact that we’re still going to get rate hikes even with stocks being down. Gotta be careful with the pre-2020 markets/Fed playbook now.

    thanks for the info Steve

    Posted by matt on 24th of Jan 2022 at 02:37 pm

    thanks for the info Steve

Newsletter

Subscribe to our email list for regular free market updates
as well as a chance to get coupons!