Today's POP pattern suggests a potential big price move will take place. Given the overnight activity on the ES (rallying higher then rolling over), I suggest today's price move may attempt to retest these overnight highs, then repeat the breakdown phase into the close.
The markets continue to try to melt upward. This trend will continue until the markets decide to break downward.
After the deep low created by the tariff news, the markets continue to try to rally to new highs. It is very likely that Q2 earnings data may push the SPY to new ATH levels before we see any big rotation in price.
The markets have a tendency to move just above recent highs, then stall and revert downward as a pullback. This move may be no different.
The continued stalling of price trying to move higher recently suggests the markets are running into moderate resistance and I believe traders are actively pulling capital away from this rally.
The trend is still BULLISH. Stay cautious of this upward move as a breakdown could happen at any time.
Gold and Silver are moving into an impressive rally phase. Silver and Platinum have moved considerably higher over the past 10+ days. I believe Gold is lagging and will make a big move higher over the next 5 to 10+ days.
Silver is targeting $41-44+. Gold should target $3400 to $3500+ near the same time.
Bitcoin made a huge rally yesterday - reaching my 110,500 upper resistance level. Now, we see if Bitcoin has the momentum to carry higher or if it will fail and rollover into a downtrend.
It seems we are right as a MAKE or BREAK level in the markets. I'm still a believer of MELT UP until it fails.
I continue to watch for technical failure - but I've not seen it happen yet.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #gold #nq #investing #trading #spytrading #spymarket #tradingmarket #stockmarket #silver
The markets continue to try to melt upward. This trend will continue until the markets decide to break downward.
After the deep low created by the tariff news, the markets continue to try to rally to new highs. It is very likely that Q2 earnings data may push the SPY to new ATH levels before we see any big rotation in price.
The markets have a tendency to move just above recent highs, then stall and revert downward as a pullback. This move may be no different.
The continued stalling of price trying to move higher recently suggests the markets are running into moderate resistance and I believe traders are actively pulling capital away from this rally.
The trend is still BULLISH. Stay cautious of this upward move as a breakdown could happen at any time.
Gold and Silver are moving into an impressive rally phase. Silver and Platinum have moved considerably higher over the past 10+ days. I believe Gold is lagging and will make a big move higher over the next 5 to 10+ days.
Silver is targeting $41-44+. Gold should target $3400 to $3500+ near the same time.
Bitcoin made a huge rally yesterday - reaching my 110,500 upper resistance level. Now, we see if Bitcoin has the momentum to carry higher or if it will fail and rollover into a downtrend.
It seems we are right as a MAKE or BREAK level in the markets. I'm still a believer of MELT UP until it fails.
I continue to watch for technical failure - but I've not seen it happen yet.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #gold #nq #investing #trading #spytrading #spymarket #tradingmarket #stockmarket #silver
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