ES Hourly Chart Cycle Targets
- ES satisfied all upside targets on the hourly chart
- But, there is usually a but, convincingly above the blue FLD, it will generate an about 8td cycle target significantly higher, somewhere toward 7750
Trusted investing communities
Experience Slice App, a social platform where you can learn from and engage with top investors.
Everyone wants to know if Thursday was the bottom. It’s hard to call one while roughly 60% of stocks still sit below their 200-day averages.
Much of Thursday’s drop was mechanical. By one estimate, ETF selling made up about 32% of the day’s volume. Those funds sell regardless of price.
Trend-following funds have flipped short. They probably have around $50 billion left to unload.
CPI lands tomorrow on top of all that. San Francisco Fed President Mary Daly said Friday the Fed will probably need to raise rates again, even after last week’s tech rout.
I won’t fault anyone for buying this bounce. Just be careful with it. This market remains very vulnerable. There could be another leg down.
Sunday Slice Report
Historically one of the more wild weeks we've seen in years and some first time records. We saw the VIX jump 70% (its third biggest one day spike since 1990, and 5th largest ever), the Nasdaq 100 had its worst day since 2020, chip stocks had their worst day in more than six years, and almost 3 trillion in the stock market was lost (possibly the largest ever single day loss). Every time we say the words "this has been a wild week" it seems the next few weeks decides to step it up. Now we have the CEO of NVDA sleeping with a Chinese spy putting more pressure on the largest company and leader in AI to figure out if this is going to lead to more panic and selloff.
CPI and PPI this week, job data Friday increased the chances of another rate hike
This would have been a great week for nothing major but that doesn't seem like it's going to be the case with inflation now in control of stopping the bleeding or adding more fuel to the fire. A rise in inflation here will just furt
I'm bringing $LITY into the play too.
Buy right now that you can still buy cheap.🔥💰🚀
Team has lined up of activities and KOLs to execute coming days.
It will fly so hard.
If you're not holding, it's time to buy and hold with patience.
Don't be inside here and miss 200X opportunity that you should have been part of.
With $5k invested in LITY, you're guaranteed of over $100k in profit. Don't believe me now, you will when you miss the signal now at the cheap price.💰🔥
With what the team has in plan, the next consolidation point will be $50 million market cap.
Market update:
Hopefully everyone is enjoying the weekend.
The market is testing conviction, patience, and risk management.
We are heading into a new week after four consecutive weeks of declines. The broader trend remains bearish, but one important level is still holding. The question now is whether buyers can defend it or whether another wave of selling takes us lower.
Thursday was a reminder of how quickly sentiment can change. The S&P suffered its worst single-day decline since April, with heavy selling volume. Friday brought some relief, but the bounce came on lighter volume. That tells us sellers still have the upper hand. Several beaten-down names, including $IREN, $SMR, $OKLO, $VST and $SPCX, $TSLA bounced sharply, but I would treat this as an oversold technical recovery rather than a confirmed reversal.
Here are the levels I am watching closely.
$SPY closed Friday at $735.36, holding above its 200-day moving average near $730.19. This is the most important line in the sand right no
RTY Technical Analysis
· RTY broke below the red trendline and 200D MA in October, then bounced back above them toward the midterm election day, where it was stopped by the declining 50D MA.
· Now it broke down decisively below the red trendline and 200D MA again.
· It is now below the declining 50D and 100D MAs and also below the 200D MA, which could curl down soon.
· It is reasonable to expect that these three MAs plus the red trendline will represent a significant resistance for any RTY bounce.
· The blue channel is a so-called Elliott wave channel connecting the 2nd and 4th wave lows.
· On Friday, RTY stopped at the lower trendline of this channel; for additional bearish confirmation, I would like RTY to break below this channel as well.
Discover
Rajeev Desai
@Rajeev Desai
In Indian stock market for over 30 Yrs. Not SEBI registered or not registered anywhere in the world. AS PER SEBI GUIDELINES-- I CAN'T GIVE BUY/SELL/HOLD CALLS. I CAN'T GIVE TARGETS. I want to write that , this is a mentorship platform. If you want to buy stock I discuss, do it at YOUR OWN RISK. For any queries to this site, Silce, write here, contact@slice-app.io