good evening folks,
es appears to be in what looks to me like a falling wedge.
i've come up with two trajectories for it this week.
👇
1. the bull (portrayed in green).
-if the low from may can succesfully hold, without being violated - there is a slim chance for us to see a bullish continuation to the upside. potentially up to 4300.
-few more levels above this level, if it can successfully push through it.
-this could happen if jpow says something nice on wednesday.
-we have a full moon on june 15th (a historical bullish indication for the markets).
-we also have a max pain on spy contracts at $422 for 6\17 opex; price could theoretically gravitate up there (but it doesn't have to).
-85% of the market is currently bearish, which could result in a short squeeze if given the proper circumstances.
-4h hidden bullish divergence is currently present.
-little bonus, our high time-frame indicator is calling a buy down here.
---
2. the bear (portrayed in burgundy).
-if the low from may is breached, a rapid mark down in price can occur.
-there is two significant targets which i have had in mind for awhile.
-3175
-3635
---
this week could be very eventful, as we have quite a few things on the schedule:
-triple witching
-vix expiration
-jpows speech,
-full moon
-and probably so much more.
---
ps. i am cautiously bull-ish.
trade safe, and have a blessed week o/
es appears to be in what looks to me like a falling wedge.
i've come up with two trajectories for it this week.
👇
1. the bull (portrayed in green).
-if the low from may can succesfully hold, without being violated - there is a slim chance for us to see a bullish continuation to the upside. potentially up to 4300.
-few more levels above this level, if it can successfully push through it.
-this could happen if jpow says something nice on wednesday.
-we have a full moon on june 15th (a historical bullish indication for the markets).
-we also have a max pain on spy contracts at $422 for 6\17 opex; price could theoretically gravitate up there (but it doesn't have to).
-85% of the market is currently bearish, which could result in a short squeeze if given the proper circumstances.
-4h hidden bullish divergence is currently present.
-little bonus, our high time-frame indicator is calling a buy down here.
---
2. the bear (portrayed in burgundy).
-if the low from may is breached, a rapid mark down in price can occur.
-there is two significant targets which i have had in mind for awhile.
-3175
-3635
---
this week could be very eventful, as we have quite a few things on the schedule:
-triple witching
-vix expiration
-jpows speech,
-full moon
-and probably so much more.
---
ps. i am cautiously bull-ish.
trade safe, and have a blessed week o/
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.