Looking back at Friday's market action.
Remember the 5 min. $VIX chart we had been watching? We'll about the time that chart broke, we started seeing some selling, and we ended flat on the day.
Even the 10 min. $VIX chart needed an update, before the end of the day, and I think we're going to be looking at a pullback before the end of the week, as possibly as soon as Technical Tuesday.
$SPX - doji reversal candlestick spotted
China finally took out my upside target - as tweeted
There's my $FXI China target... #ChaChing! pic.twitter.com/52OZIQ76LZ
— Veteran Market Timer (@3Xtraders) October 22, 2021
$DJUSFN (Financials):
Short term Financials look really toppy.
Tech - The 3X FAANG bear looks like it's ready to rock.
$SOX looks toppy.
Energy stocks rallied to a lower high, after breaking the st trend last week. Probably weekly OPEX was the only thing that held the sector up.
$DJUSEN (Energy)
$DJUSEN - another view of the same thing, but shows where support was bought. The green lines are what's known in the business as stair stepping, which is a well known technique for pumping stocks higher. There's nothing natural about it. This will continue for as long as Goldman Sachs and Citi, and/or whoever else is rigging the energy markets want....
Exxon Mobil is an energy name to watch - looks like a crash could be in order
Oil can go to $90
$BRENT - target looks like 91.25, but it could chop around in this range for months
Natural Gas - seeing it up quite a bit this morning.
$UNG (Natural Gas Fund) - if it opens above 19.50, then the bears are going to remain trapped for a while. Currently futures are only pointing at 19.40. Pattern is a down-turned triangle (seen in black)
guess that's about it
Still waiting to see what the pullback looks like
Good luck, AA
No comments:
Post a Comment