May 24th – Drop like a …

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Let's do a little review and discuss a little about a drop that I am expecting.

   

SPX - There are times when you are expecting a pullback and suddenly you get a large 1 or 2 day slam. That can exhaust the move down, or 'clean the plate' of sellers for a while , so price starts to rise again. I was looking for bounce & an overhead gap fill, but we are also due for a dcl.  So will the drop resume or was that it?  It could have been a dcl.   Let's look at prior moves out of such a slam...

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Tuesday May 23 – Patterns Within Patterns

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Please reread the weekend report for my thoughts on the markets. Mondays moves still fit the thinking that we have gone over for the past couple of weeks. In addition to the weekend report that I released, I gathered some charts of trade set ups or trade ideas that may be forming.  At times we see patterns forming within patterns, like the picture above, and I want to share those charts here...

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WEEKEND REPORT – Subconscious

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Have you ever heard someone say, "In the back of my mind, I was thinking about..." ? Well, in this weekend report I'm going to discuss my analysis ( technical / Cycles / etc)  and the conclusions that are drawn from that, and also what has been subconsciously ' in the back of my mind ' in a few areas.

 

SPX - Friday I pointed out that we could bounce here, but I still expect a drop from my analysis.

We did get the bounce at multiple support areas after filling a gap & 'buy the dip' has been working.

 

These patterns do look similar, and some may think that it would lead to further rally upside...

But ' in the back of my mind '...

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