With Mark Wood
2 posts • Page 1 of 1
-3D has an important close along with daily and weekly.....3D consecutive closes above the orange 9EMA after a drop is a bullish sign it is still acting as key support. Red MA is 10SMA....I use the 9EMA and 10SMA combined to determine when a timeframe has the strongest bullish confirmation.
So, 3D closing above orange is bullish. Closing above red(49522) is bullish(er) and then orange climbing back above red is bullish(ist)
Weekly moves to green 6 above 48.8 but can flip to red 1 if that level is lost so still considering lower high top scenario leading to a longer stronger selloff but the weekly close and Friday close of the stock market hinted at correction over and continuation was complete. This told me that Stimulus talks could be coming out soon but that's a different story for a different topic. I just believe firmly that the charts will always tell us what the news will be and the Friday stock market charts(especially NASDAQ) suggested higher prices this week. We shall see....
-12hr gave a swing long buy signal with a green 2 going above a green 1 above the cluster of moving averages however, 4hr oscillators are hot and so a cool off might be needed first. I will be looking for a drop back down to 50K area to consider a long.
-A drop to that area into the weekly close or sometime on Monday would fill the CME gap if there is one right in the 50K range. Not necessary to close the gap but with price so close to it, it becomes more likely that it does get filled but looks like it could be a buying opportunity.
Here is the 4hr showing a strong move but the oscillators are all getting up there as well as TD Sequential showing TDST at 51.8. This says it's unlikely that price will trend higher than that before seeing a correction so a good place to take some profit and look to buy a small dip. Sawchruhteez/ Fisher indicator is the top one. I'm looking for that to turn around and maybe get another bounce off of the mid line for continuation. Would look for Moementum's ifish smooth and stochatstics to do the same. This is the type of confluce you want to look for and something that Sawcrhuhteez has been mentioning in recent streams.
EMASAR 4hr storm also continues to say be careful with getting too bullish. What I'm seeing on high timeframes suggests new ATH is possible but if price cannot trend into the sky on 4hr then a lower high confirmation could send prices back to the low 40Ks and perhaps much lower after that.