We have some major oversold readings yesterday and last night. I am predicting a bounce similar to FEB 2018. We tagged the Year CAM S3 target that I spoke of yesterday, and some other MAJOR targets as well for SPX500 futures.
Nota
Major target struck on SPX500, backtesting the important trendline. 40 point overnight bounce. Nota
Percent stocks above 5DMA hits the lowest level seen since FEB 2018. We are mirroring that correction somewhat. Nota
DAX also got the super important trendline backtest Nota
30Y Bonds hit CAM Year R4. Nota
SPX hits 200 DMA, looks like a panic capitulation with a big gap down this morning. Nota
Year CAM S3 and July top. Where is the bottom? Nota
Percent stocks below 20 DMA crosses below 10%. This usually triggers a decent buy. Nota
So far this weekly candle is the largest percent selloff since OCT 2008. It even surpassed the SEP 2001 weekly candle.Next support (I guess) on NAS100 futures tradingview.com/chart/8SuRYefQ/
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Wrong link, here we go. Cyan channel = 55 day Donchian Close channel. Nota
VIX is at 45. The fear is real and this is total panic selling Nota
200 DMA on NAS100 did it. Massive amount of dark pool prints today. Bottom may be in for now. FEB 28 2020, 4:48 PM EST
VOL (K) | PRICE ($) | 🔼
--------.-----------.----------
📈
SPY--------.-----------.----------
53,893 | 297.89 | 💚 +0.47%
4,000 | 290.63 | 💚 +2.98%
--------.-----------.----------
📈
QQQ--------.-----------.----------
5,672 | 205.78 | 💚 +0.50%
200 | 202.27 | 💚 +2.24%
--------.-----------.----------
📈
VXX--------.-----------.----------
118 | 24.60 |💔 -10.04%
193 | 23.75 | 💔 -6.82%
680 | 22.33 | 💔 -0.90%
Nota
Single highest trading volume for an ETF in history was Friday. 43% of stock market equity volume was in SPY.Nota
Actually scratch that, not the single highest. Biggest in recent memory though.Nota
Unprecedented dark pool activity again today, another 17 million in SPY blocks boosting this trade.We are nearing the classic backtest of Year S3 after bottoming on Year S4 for DJI futures.
Nota
Near perfect gartley structures on ES, YM, NQ. Nota
We are repeating the same sequence of candles and pullbacks as the 2011 and 2015 corrections. The first wave up is complete, then retrace 70-80% of the first bottom, then build into the next week. We could hit 9200 NQ before the end of March. Sentiment is near all time extremes.
Nota
Double tap on the NQ railNota
10Y Bond capped on YEAR CAM R5. Nota
Bottom is likely in for NQ as we hit Year CAM S3 after topping on Year CAM R3. The normal play is a retracement back to the previous close, so the 2019 close. We are attempting to create some very large bullish divergences.The limit down % was hit monday for equity futures as well as the limit up for 10Y bond futures (5% overnight). The limit up was hit for ES this morning and limit down for 10Y bond futures.
These are wild whipsaws you never see. I believe the bottom is extremely close.
Nota
Worst selloff since 2008.
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DJI trendline Nota
XLU trendline Nota
SPX pitchfork 
Find the edge.
Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
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Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy
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Find the edge.
Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy
Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.