all in the video, keep an eye on 3710-3700 area for support.
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spy at fib resistance here
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SPX cash now at 3800, this could be 4 of 5. I'm staying patient with the last of my short position. Still think 3700 area is the target, but I'm wrong if they get over 3825.
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futures reached resistance, I expect one more leg down. from here. If I'm wrong I'll post it.
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They are over the neckline of the head and shoulders, so it looks bullish. If they loose 3800 again something more devious is happening, like another ABC with C coming tomorrow. I can't tell so I'll wait in cash. 3800 needs to be held for it to continue bullish.
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Some charts don't look that bullish to me here - for example AAPL. Conflicting signals, so I wait.
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ok, so IF the leg down after CPI is a wave 1 down of some sort, they have rejected so far at the .618 fib. Which means, if they get over 3840ish, it should be bullish and continue up. If they get under 3800, this was likely a bull trap and we could go to 3700 and lower.
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SPY being held back from it's fib pitchfork trendline, starting to look like a bull trap.
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poor close, I'm expecting more downside tomorrow. hard day for both sides. see you tomorrow!
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futures looking bearish, note they couldn't hold that 3800 level. Bulls want to see that held at some point for continuation up.
