SPX is trading around the February lows currently. SPX making a lower low though it won't be by much. 4,400 is resistance and then up at 4,800 a retest of the highs.
Daily
SPX may see a touch lower to form a lower low, but it's holding at February levels quite well. A run toward middle resistance at 4,400 is what to expect.
we should have bounced a lot more today into the Fomc- meeting --we need a bigger bounce -three days up --tomorrow--we better close up around -Spx 4300--this does not make sense --no follow through---we will find out soon!
now we are in no-mans land here--there is a turn date on Friday--high or low -no one knows-- the direction will be given to us by the end of 5/5--still to low call a bottom--too many --100 point -up and down days---be nimble --the FOMC is not our friend--very dovish!----opps --inflation got away from me --that is their Mandate--let's wait and see!
There is a documented pattern that has a peak in the summer, figure July then another next winter. This is when biotech Cycles and OCGN are most interesting.
I'm going to be explaining why this is shortly.
However, if Putin launches a surprise offensive in the next month that could still drive prices lower in the meantime for the best entries.
SPX is near the orange trendline, just a little more down. Around 4,030. It should produce at least a good bounce. SPX is seeing these marginal lower lows. The orange may not generate that big bounce yet. I think it may not be mature for that yet but yes it is coming.
Nobody knows the future--Fridays and Mondays are crash days--just shows you that the Fed--loss control of Inflation--we have no big Economic news coming out to Wednesday to Friday---sit back and enjoy the Ride!
Sc---this is the most I had seen down in a while! --a close below Spx 4000--we should see Spx 3900--real quick!--- we need a bounce --End of day---Either be blood bath or saving grace--Gush is down 31 points in a day--even oil stocks are getting killed! I made good money with UVXY--hard time getting over 20 I may want to buy puts--wait to End of Day!
good luck man! I want to buy--and today's initial rally looked promising but it's fading fast. And so far we haven't seen a huge volume spike that we usually see when a significant low gets made. So I'm watching and waiting. I'm also concerned about upside potential. We may be looking at only 4250 or so before the market heads south again. Good luck with you long position!
looks like a bounce in the morning--and with all that military aid that they are receiving --I think will come to an end quickly--it don't seen that way!
That is true about July --but that if Gasoline and Diesel fuel increases for Summer driving season--that can cause major problem! ---also Biden has to stop speaking!
Spx--3800 to 3850--probably by end of week---lets hope it stops there--we should get a slow down (at the 20% down level)--a pop then another drop into early June--lets hope we bottom there!!!
SPX may see a touch lower to form a lower low, but it's holding at February levels quite well. A run toward middle resistance at 4,400 is what to expect.
ReplyDeleteMunger trashing Robinhood and meme stocks over the weekend I take as a sign that they are generally trading at/near lows.
ReplyDeleteThanks SC😀This will be fun, to watch!
ReplyDeletesc,
ReplyDeletewe should have bounced a lot more today into the Fomc- meeting --we need a bigger bounce -three days up --tomorrow--we better close up around -Spx 4300--this does not make sense --no follow through---we will find out soon!
Nice call Dunn6ster.
DeleteTook profits sold RIG $4.11
ReplyDeletesc,
ReplyDeletenow we are in no-mans land here--there is a turn date on Friday--high or low -no one knows-- the direction will be given to us by the end of 5/5--still to low call a bottom--too many --100 point -up and down days---be nimble --the FOMC is not our friend--very dovish!----opps --inflation got away from me --that is their Mandate--let's wait and see!
UVXY having a big down week. It hit the 50 weekly and dropped.
ReplyDeleteSC-- Got in at UVXY at 14.5--looking for 18 to 20 by Monday---this looks like new lows---Fed lost control after workers output number --this morning!
ReplyDeleteSPX does look like it can test the orange trendline
DeleteGive it another week...we are in the process of putting weekly bottom
DeleteSC... what price is the orange line at?
DeleteCan't tell from the chart
Thanks
SC,
ReplyDeleteFridays and Mondays are good days for Market crashes!
Too Much volatility
We are due!
We get through the week end--then I can think about going long!
ReplyDeleteMarkets dips sure enough. The orange is 4,030 SPX
ReplyDeleteLABU was at insane price levels at $7.75 few days ago.
ReplyDeleteNow LABU is even lower at $6.84. What comes after insane?
expect it to lead up any bull moves...last gap left on XBI is gone
DeleteLast Gap on XBI filled....load up
ReplyDeleteSC - seems like we may bounce next week to 4350-4400, then rollover for the crash into end of month...
ReplyDeletesc--just for you-- took a flyer--ocgn -exp 6/10---3.5 calls --Its a gamble--just like Dice!
ReplyDeleteRob---that is the plan--but Crashes and lower lows comes on Fridays and Mondays----waiting for Spx -4000 or below it to go long!
ReplyDeleteHmmm...lowest since 2002.
ReplyDelete"More than 20% of NASDAQ Biotech Index’s members are trading for less than cash."
UVXY closing down on the week
ReplyDeleteUVXY interacting with that weekly 50
ReplyDeleteSC has the ocgn 11 time line changed from June ?
ReplyDeleteThanks
There is a documented pattern that has a peak in the summer, figure July then another next winter. This is when biotech Cycles and OCGN are most interesting.
DeleteI'm going to be explaining why this is shortly.
However, if Putin launches a surprise offensive in the next month that could still drive prices lower in the meantime for the best entries.
SC do you see again a rebound from 4030 to 4400 and then 4800? Now S&p futures is around 4030.. may be a good entry point.. Many thanks..
ReplyDeleteSPX is near the orange trendline, just a little more down. Around 4,030. It should produce at least a good bounce. SPX is seeing these marginal lower lows. The orange may not generate that big bounce yet. I think it may not be mature for that yet but yes it is coming.
DeleteNobody knows the future--Fridays and Mondays are crash days--just shows you that the Fed--loss control of Inflation--we have no big Economic news coming out to Wednesday to Friday---sit back and enjoy the Ride!
ReplyDeletePutin has massive military parade in Red Square today.
ReplyDeletePutin is not the type of person to walk away from a fight. Likely preparing for a surprise offensive in next month or two.
ReplyDeleteNot much in the way of fear currently. UVXY still quiet but I may look to get in just before Russia attacks
ReplyDeleteBought OCGN $2.05
ReplyDeleteLABU ------> I am speechless!
ReplyDeleteThere is something wrong with this whole sector. Seriously!
It's all the leverage. 3x creates a lot of decay.
DeleteBut biotech coming into what can be the best time frame
DeleteSPX 4,036
ReplyDeleteI'm a buyer at this level
ReplyDeleteAnd will buy more at 3970
ReplyDelete3800
DeleteThe drop will be fast and swift looking for 4300
ReplyDelete3800 first, then 4600
DeleteOrange SPX has hit!
ReplyDeleteUVXY needs a viagra hahahaha 😆
ReplyDeleteSc---this is the most I had seen down in a while! --a close below Spx 4000--we should see Spx 3900--real quick!--- we need a bounce --End of day---Either be blood bath or saving grace--Gush is down 31 points in a day--even oil stocks are getting killed!
ReplyDeleteI made good money with UVXY--hard time getting over 20
I may want to buy puts--wait to End of Day!
Yes UVXY does have a nice range.
DeleteGUSH getting walloped real good, finally! Just as I'd thought the Oil trade was overcrowded.
DeleteZelensky is the worst thing to ever happen to Ukraine. Leading the country to ruins.
ReplyDeleteSc ---what are you expecting ---up or down?
ReplyDeleteThat is the question --everyone wants to know?
Let's see how SPX trades at the orange. Maybe slide down a little but moderate bounce in May
DeleteSo you see only a moderate bounce in may.. but the low is this? Around 4000 is the end of the downtrend?
Deletesc--
ReplyDeleteNew lows and Uvxy---not over 20--how manipulated is this???
No fear event yet but it will come
DeleteI'm buying dip
DeleteI think we rally here then get smashed in june
DeleteI'm in heavy here
DeleteBought tqqq
DeleteBuying spy calls
DeleteBought a huge amount
ReplyDeleteThe more they talk bad the more I get excited
ReplyDeleteI will double down if we drop
ReplyDeletegood luck man! I want to buy--and today's initial rally looked promising but it's fading fast. And so far we haven't seen a huge volume spike that we usually see when a significant low gets made. So I'm watching and waiting. I'm also concerned about upside potential. We may be looking at only 4250 or so before the market heads south again. Good luck with you long position!
DeleteLet's go tonn Dunn lol
ReplyDeleteGUSH destroyed. I might wait a bit for oil to complete pullback.
ReplyDelete"Biden has also requested $33 billion in military and humanitarian aid for Ukraine from Congress"
ReplyDeleteSc-
ReplyDeletelooks like a bounce in the morning--and with all that military aid that they are receiving --I think will come to an end quickly--it don't seen that way!
yeah, I wish we had some idea of when the Ukraine war will end. I didn't think it would go on this long, so I don't know anymore.
DeleteJuly is usually a positive month🙁
Deletesc,
ReplyDeleteThe vix is not moving--what happened?
That is true about July --but that if Gasoline and Diesel fuel increases for Summer driving season--that can cause major problem! ---also Biden has to stop speaking!
ReplyDeleteBought DWAC $41.20.
ReplyDeletesc
ReplyDeleteI looked at that today--same thought--will look to follow your lead tomorrow morning---looks cheap!
Guess it's gonna be a tough task to get up to 4400...will be lucky if we get 4300s at this rate...hope y'all prepared for the fireworks shortly lol...
ReplyDeleteSpx--3800 to 3850--probably by end of week---lets hope it stops there--we should get a slow down (at the 20% down level)--a pop then another drop into early June--lets hope we bottom there!!!
ReplyDeleteNew chart posted!
ReplyDelete