News Links and Chart Links Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : News Links and Chart Links

SPXL 223.55

+0.3%

Dec 4 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Les H who wrote (27140)	6/11/2022 7:22:06 PM
From: Les H	of 29601

Solid bear run after the former 45 minute TDST Support at 4057.15 failed for the S&P 500 (SPX). The 8.6% CPI print gave another leg lower, but dip buyers did not show up as anticipated. The SPX also closed a nudge below the previous low close at 3901.36 for both the daily and weekly timeframes and gives the go ahead to trade lower. Staying optimistic that the 3810.32 low will hold, the short term DeMark TD Sequentials have recorded price exhaustion, but the SPX would need to press above the 4096.20 TDST Resistance, which is a tall order for the short term. A better opportunity would be to allow the 4 and 6 hour timeframes record their respective 9 counts which targets Tuesday, June 15th, the day before the FOMC meeting. Whichever the decision – 50 bps or 100 bps, this gives the SPX chance to rally, ideally without breaching the 3810.32 lows first. The negative outcome would see the SPX break 3810.32 and continue to mark lower lows until the daily SPX records a possible TD Buy Setup @9 on Monday, June 20th perhaps to the 3725.92 TD Trend Factor. However by then, technical damage would be severe and indicate many more weeks of an overall downward trend. tradetrekker.wordpress.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next