US futures were trading down overnight then had an acceleration
down this morning, and a negative reaction to the economic news.
Currently ES futures are down -37,, they were 44 points at
the low.
regardless of any news catalyst we know that the market was
vulerable to this pullback with the evidence I've been presenting:
the pinching Bollinger Bands, the NYAD divergence, the MACD
divergence on the major indexes etc.
we'll see where things settle after the gap down, if it finds
support or ends up being a trend day down. One target would be
filling the recent open gap on the cash SPX
ha ha - I know it's almost akin to blasphemy to talk about a
pulllback in this market, but the evidence over the last couple
days was pretty clear and it's my job to point those things out
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Pre market Thursday
Posted by matt on 6th of Jul 2023 at 09:08 am
US futures were trading down overnight then had an acceleration down this morning, and a negative reaction to the economic news. Currently ES futures are down -37,, they were 44 points at the low.
regardless of any news catalyst we know that the market was vulerable to this pullback with the evidence I've been presenting: the pinching Bollinger Bands, the NYAD divergence, the MACD divergence on the major indexes etc.
we'll see where things settle after the gap down, if it finds support or ends up being a trend day down. One target would be filling the recent open gap on the cash SPX
Matt, just want to say
Posted by timebandit on 6th of Jul 2023 at 09:19 am
Matt, just want to say your observations have been very helpful.
thanks! ha ha - I know
Posted by matt on 6th of Jul 2023 at 09:33 am
thanks!
ha ha - I know it's almost akin to blasphemy to talk about a pulllback in this market, but the evidence over the last couple days was pretty clear and it's my job to point those things out