Bounce

Market bounced hard. With ibb iwm and banks reversing the day before it’s not too much of a surprise. Markets gapped up and didn’t look back. Still below a down trending 10ma and 20ma so need to be careful still. Maybe this is a dead cat bounce to 2080s?

Iwm is actually much stronger. Got way above first target of 122 and to 123. 20ma never turned down and 10ma is flat with price above. But I can’t handle success and sold eod 1/3 tna. Playing for resistance at all time highs maybe tomorrow to sell another 1/3.

IWM and sp500 targets

https://www.tradingview.com/x/0zcPiOUS/ IWM daily. if this breakout holds then diamond target of 125-127

if the “right angled descending broadening wedge” continues then $132 target. gameplan is to hold the 50% TNA till 10ma starts to flatten.

https://www.tradingview.com/x/FaxoZ9xn/ SP500 daily. headed for upper trendline 2150?

market coiling for a break out or rolling over?

https://www.tradingview.com/x/dPUvxQLB/ IWM hourly. made some decent moves this january. need to be nimble and take profits when there. maybe a bigger diamond top?

https://www.tradingview.com/x/mswyomRG/ SP500 daily. same coil look here. the 38% retrace around 1990 is the support and line in sand. most are saying that a break down there will trigger a h&s down to 1920s.

https://www.tradingview.com/x/GYTMjaYF/ nasdaq daily same thing.

sold most of tna for now waiting for the market to make up its mind.

Sp500 blast off

Blew right past 2019 and ended at 2060s. I think most hope for a pull back to 2020s to close some gaps then take off again. Maybe if iwm hits $120 then markets will fade back.

Sp500 huge fed day

Fed announced today business as usual and rates won’t rise well into next year. Huge bounce off support but lots of damage done on charts still. 10ma and 20ma still falling hard above. Res around 2019 soon and maybe another down leg before new highs?

Decision time

Iwm 15 minute. If you just look at the final outcome markets were up 0.4% but that is deceiving. Rallied hard at the open only to fail again.
Two inside days. After the run back up to $117+ as planned sold 40% tna then it failed. Reloaded end of day. Ended the day the same as yesterday with the double bottom at the TL. But I’m not as confident with this going long as yesterday. Tight stops.

Sp500 daily. This looks bearish. Retested the 10ma 20ma and failed. 2015-2019 needs to hold. Then could see 1980s. Needs to bounce soon.