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.
Note
Major target struck on SPX500, backtesting the important trendline. 40 point overnight bounce. Note
Percent stocks above 5DMA hits the lowest level seen since FEB 2018. We are mirroring that correction somewhat. Note
DAX also got the super important trendline backtest Note
30Y Bonds hit CAM Year R4. Note
SPX hits 200 DMA, looks like a panic capitulation with a big gap down this morning. Note
Year CAM S3 and July top. Where is the bottom? Note
Percent stocks below 20 DMA crosses below 10%. This usually triggers a decent buy. Note
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/
Note
Wrong link, here we go. Cyan channel = 55 day Donchian Close channel. Note
VIX is at 45. The fear is real and this is total panic selling Note
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%
Note
Single highest trading volume for an ETF in history was Friday. 43% of stock market equity volume was in SPY.Note
Actually scratch that, not the single highest. Biggest in recent memory though.Note
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.
Note
Near perfect gartley structures on ES, YM, NQ. Note
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.
Note
Double tap on the NQ railNote
10Y Bond capped on YEAR CAM R5. Note
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.
Note
Worst selloff since 2008.
Note
DJI trendline Note
XLU trendline Note
SPX pitchfork 
Find the edge.
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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
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
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
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.