1st image shows a 2hr, 1hr, 30 min chart: you had buy cycle on
the 2hr and 1hr, and MA ribbon got pretty wide there
the second image shows a 2hr view, ES bounced off a demand zone
from July 14th basically. 3845 is now BIG resistance should price
bounce back to that general area
Posted by timebandit on 22nd of Sep 2022 at 11:21 am
$VIX is up 1% now. So far bounces today have been shorting
opportunities. when I reviewed charts last night, I did not see
oversold extremes in P/C ratios or McClellan oscilators. We're
getting there, but if this is a Wave 3 down, it may be most extreme
of all. That remains to be seen, but one thing I did note is that
you often (but not always) get a divergent double bottom in the
McClellan oscillator when it gets below the horizontal green line
on this $SPXMO chart. Note that the MACD is crossing negative well
below zero. When that happened in early May (vertical dotted blue
line), it didn't bottom for another month, though there were a
couple healthy bounces along the way. So keep an open mind
here.
ES futures
Posted by matt on 22nd of Sep 2022 at 12:44 am
ES futures recovered about 20 points off the lows
1st image shows a 2hr, 1hr, 30 min chart: you had buy cycle on the 2hr and 1hr, and MA ribbon got pretty wide there
the second image shows a 2hr view, ES bounced off a demand zone from July 14th basically. 3845 is now BIG resistance should price bounce back to that general area
Are we going to have
Posted by apple on 22nd of Sep 2022 at 10:27 am
Are we going to have a trend day?
updated views of those ES
Posted by matt on 22nd of Sep 2022 at 09:32 am
updated views of those ES futures charts from last night
2hr ES on left -
Posted by matt on 22nd of Sep 2022 at 10:28 am
2hr ES on left - trying to hold that cycle support. 5 and 3 min on right price bounced from that oversold and expanded ribbon and Demark 9s
VIX IS DOWN TOO, ABOUT
Posted by shellson2 on 22nd of Sep 2022 at 10:32 am
VIX IS DOWN TOO, ABOUT 1%
$VIX is up 1% now.
Posted by timebandit on 22nd of Sep 2022 at 11:21 am
$VIX is up 1% now. So far bounces today have been shorting opportunities. when I reviewed charts last night, I did not see oversold extremes in P/C ratios or McClellan oscilators. We're getting there, but if this is a Wave 3 down, it may be most extreme of all. That remains to be seen, but one thing I did note is that you often (but not always) get a divergent double bottom in the McClellan oscillator when it gets below the horizontal green line on this $SPXMO chart. Note that the MACD is crossing negative well below zero. When that happened in early May (vertical dotted blue line), it didn't bottom for another month, though there were a couple healthy bounces along the way. So keep an open mind here.
the overnight low on ES
Posted by matt on 22nd of Sep 2022 at 10:00 am
the overnight low on ES was 3767. ES is currently at 3777