September is historically a negative month for the stock market according to previous price action over several decades.
However, we are in a pre-election year and have been receiving somewhat good news in regard to economy cooling.
That being said, we will be receiving new information on Sept 13 on the CPI and YOY inflation readings for August.
The DXY is currently pushing in a resistance zone after a large move up, and may potentially be in a region for a short. This may help push markets upwards towards the upper liquidity zone around $460 on the SPY.
I would not be surprised if the market pushes slightly higher before creating a SFP swing high failure with rotation back downwards.
My reasoning is based on identifying the divergence which may give us a warning sign that a reversal may be near. Ive indicated previous divergences which resulted in pullbacks to both the upper and lower ranges of the chart.
My Major levels to the downside would be the critical level between $410-$420. This may be a region where the markets test the 200MA before confirming the bull market / bull decade as some may say.
However, we are in a pre-election year and have been receiving somewhat good news in regard to economy cooling.
That being said, we will be receiving new information on Sept 13 on the CPI and YOY inflation readings for August.
The DXY is currently pushing in a resistance zone after a large move up, and may potentially be in a region for a short. This may help push markets upwards towards the upper liquidity zone around $460 on the SPY.
I would not be surprised if the market pushes slightly higher before creating a SFP swing high failure with rotation back downwards.
My reasoning is based on identifying the divergence which may give us a warning sign that a reversal may be near. Ive indicated previous divergences which resulted in pullbacks to both the upper and lower ranges of the chart.
My Major levels to the downside would be the critical level between $410-$420. This may be a region where the markets test the 200MA before confirming the bull market / bull decade as some may say.
Comment:
200MA support
Comment:
This will be our deciding factor, do we hold or break?
Comment:
Looking for more long positions at the monthly level. This is a big level so I am expecting a reaction, the question will be how strong. We will be watching the orderflow on Mondays market open to see what direction the market will move.
Comment:
Markets approaching the highs, time to watch the reaction and the technicals.