weekly preview - SPX OIL GLD ZB NG BTC

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All in the video, SPX likely wants to get to 4200+ sooner or later to take out more shorts and convince bulls we will rally much further. I expect a choppy week with CPI on wednesday and claims on thursday.

us.econoday.com/byweek.asp

Good luck!

٨ مايو ٢٠٢٣

ملاحظة

opening is already showing hourly divergence, they may have a rally to 4160 area first but I think a pullback today and maybe tomorrow will come. How much is still hard to tell.

٨ مايو ٢٠٢٣

ملاحظة

qqq may breach the upper trendline before a reversal to the lower again.

٨ مايو ٢٠٢٣

ملاحظة

as of now I'm expecting this. 30 minute rsi already oversold, hourly should be next. If the 2 hr comes down hard for such a little move, you know there's something wrong on the bear side.

٨ مايو ٢٠٢٣

ملاحظة

boring day, just consolodation. Probably going higher even if we pullback the hourly rsi will be oversold.

٩ مايو ٢٠٢٣

ملاحظة

houurly rsi on futures already getting quite low. A b Wave may take today and tomorrow to complete like this

٩ مايو ٢٠٢٣

ملاحظة

so far buyers stepped in, let's see if they can get back to the highs of ysterday again.

١٠ مايو ٢٠٢٣

ملاحظة

I think we're ready to break out of range. a Fake out first (blue) is possible. Either way I expect a downmove into next week regardless of first reactions to the numbers today or tomorrow.

١٠ مايو ٢٠٢٣

ملاحظة

Blue path looks correct, no matter where it goes it looks like a B wave with a C to follow. 4 hr rsi getting sufficiently reset for a fall.

١٠ مايو ٢٠٢٣

ملاحظة

looks like B is done, C would get us to 4k-3900ish

١٠ مايو ٢٠٢٣

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One more high for B is possible, wouldn't surprise me, they are trying to get the majority out.

١٠ مايو ٢٠٢٣

ملاحظة

If they sell this hard into the end of the day the rsi will look too low. Keep in mind we have PCI and jobs tomorrow, so another move up tomorrow to get another high is possible. RSI still seems to be too low.

١٠ مايو ٢٠٢٣

ملاحظة

i don't like the looks of this as a bear, I'm done for the day.