RSI looks to be breaking down but price is NOT following.
To me, this means sideways movement or short-term bear trap.
Using recent fractal we see same RSI fakeout, sideways movement for a week or so, then breakdown.
When price starts flattening out toward multi-year WHITE resistance line, I will re-evaluate entry and post update.
I posted this chart as Neutral, but I am short biased. Just waiting for entry and being objective for others to BE CAREFUL HERE.
Market is ENTIRELY propped up by the Fed. Last $200B in QE went right to banks which put into the market instead of buying Treasuries or holding cash.
NOTE -
1- Powell is speaking today (but I do not expect any reaction).
2- We have a Fed meeting coming up in December (on chart).
3 - Next Fed meeting is already expecting no rate cut ( so unless we see a rate cut we may trade sideways or go higher).
4 - Future Fed rate cuts are already baked-in until about July of 2020 (but we saw Dec. 2018 Fed say raise rates and then take it all back / can't be trusted at word).
CME Fed Watch Tool For Rate Cuts (click to refresh at anytime for new data, updated frequently)
cmegroup.com/trading/interest-rates/countdown-to-fomc.html/
FREE Resource for those inexperienced with options
optionseducation.org/?partnerref=googleSEM&gclid=EAIaIQobChMIkOvatvjl5QIVY_7jBx0UJg_2EAAYASAAEgKUW_D_BwE&gclsrc=aw.ds
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY. Waiting to re-enter SPY short.
To me, this means sideways movement or short-term bear trap.
Using recent fractal we see same RSI fakeout, sideways movement for a week or so, then breakdown.
When price starts flattening out toward multi-year WHITE resistance line, I will re-evaluate entry and post update.
I posted this chart as Neutral, but I am short biased. Just waiting for entry and being objective for others to BE CAREFUL HERE.
Market is ENTIRELY propped up by the Fed. Last $200B in QE went right to banks which put into the market instead of buying Treasuries or holding cash.
NOTE -
1- Powell is speaking today (but I do not expect any reaction).
2- We have a Fed meeting coming up in December (on chart).
3 - Next Fed meeting is already expecting no rate cut ( so unless we see a rate cut we may trade sideways or go higher).
4 - Future Fed rate cuts are already baked-in until about July of 2020 (but we saw Dec. 2018 Fed say raise rates and then take it all back / can't be trusted at word).
CME Fed Watch Tool For Rate Cuts (click to refresh at anytime for new data, updated frequently)
cmegroup.com/trading/interest-rates/countdown-to-fomc.html/
FREE Resource for those inexperienced with options
optionseducation.org/?partnerref=googleSEM&gclid=EAIaIQobChMIkOvatvjl5QIVY_7jBx0UJg_2EAAYASAAEgKUW_D_BwE&gclsrc=aw.ds
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY. Waiting to re-enter SPY short.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.