🕵️‍♂️ I SPY TA – Thursday September 08, 2022 – 0DTE scalpers Delight via /r/wallstreetbets #stocks #wallstreetbets #investing


🕵️‍♂️ I SPY TA – Thursday September 08, 2022 – 0DTE scalpers Delight

September 07 Recap

https://preview.redd.it/u0002ofq4im91.png?width=628&format=png&auto=webp&s=24d1327ca5a5105ecfdd55d571661a7c69884b53

https://preview.redd.it/ctmnuefr4im91.png?width=1426&format=png&auto=webp&s=29a993b06248be1d90386faf752cce462c4a2481

https://preview.redd.it/2uecrxd65im91.png?width=1456&format=png&auto=webp&s=afde82a30e9b723e1064713622dde7a120d0f238

We did hit a full measured move out of yesterday’s triangle.

https://preview.redd.it/awwpykay5im91.png?width=1456&format=png&auto=webp&s=68781749d82a92704cbc37e6d1c98cff96cc613c

US Market Wrap – Financial Juice

Stocks rose the most in about a month as Treasury yields paused their rise to multiyear highs, as traders digested remarks from a slew of Federal Reserve speakers. Oil fell, alleviating concerns about price pressures that could jeopardize the central bank's war on inflation.

Every major group in the S&P 500 except energy rose, while the tech-heavy Nasdaq 100 outperformed, with only four members in the red. Apple rose after unveiling the latest version of its flagship product, the iPhone 14, relying on camera upgrades and a new emergency satellite-messaging feature to fend off rivals.

Oil benchmarks fell as demand concerns from China triggered a wave of selling as prices breached technical warning levels. West Texas Intermediate closed at less than $82 per barrel, while Brent closed at $88. The dollar fell following a rally that shook currencies around the world and briefly pushed gold below the "danger zone" of $1,700 per ounce.

Need to Know Market Risk – Financial Juice

Fed's Beige Book: Price growth has slowed in 9 of the 12 districts.

Fed's Mester: I am not convinced that inflation has reached it's peak yet.

BoC: Short-term inflation expectations remain high, according to surveys and the longer this persists, the higher the chance that rising inflation becomes entrenched.

Fed's Powell’s inflation-fighting pledge could tee up another 0.75-point interest rate rise – WSJ.

Economic Calendar

Be gentle Papa Powell.

https://preview.redd.it/dnojf0h86im91.png?width=1256&format=png&auto=webp&s=6674de5e78c66e8dc961426897462b0af1243168

🕵️‍♂️ I SPY TA

https://preview.redd.it/hxvqf5ta6im91.png?width=896&format=png&auto=webp&s=9905ea10a56bc4618580242cab8d8a6252f904b4

Bears are now working on their 3rd leg of this large downtrend. I have two downside targets that I’m looking at. The first downside target is using the first leg measure. It would put us about 360 by October 5 (-16.8%). This level would put us near double bottom potential. On the low end, I’m looking at 332 ish by Nov. 3 (-23.129%)

Upside targets: 400.00; 404.27; 405.16; 409.98; 415.31

Downside targets: 396.95; 388.74, 378.58

https://preview.redd.it/kdfm77xc6im91.png?width=1456&format=png&auto=webp&s=15e80134262536478639a0372b28b7e98e44af55

We are in the middle of the 395.70 rectangle middle and 401.23 resistance. We are above the 21 MA (393.39)

Here are a few upside and downside targets if we break out of the rectangle on Tuesday. This chart expires Sept. 9th.

  • Resistance: 401.23
  • Middle: 395.70
  • 21 MA: 393.39
  • Support: 390.14
  • Bullish half measure: 406.71
  • Bullish full measure: 412.23
  • Bearish half measure: 384.40
  • Bearish full measure: 378.80

https://preview.redd.it/208ol6357im91.png?width=1456&format=png&auto=webp&s=f99bb8eec2fa400c73cbefed0c054d4f56d2ce9a

Scalping Chart – Best on 2 or 5 min. Timeframe

  • Lose 397.67 and look for 394.71 – 394.13
  • Lose 394.13 and look for 391.73 – 391.08
  • Lose 391.08 and look for 389.38 – 388.63
  • Lose 388.63 and look for 385.25 – 383.11
  • Break 399.85 and look for 401.56
  • Break 401.56 and look for 403.98
  • Break 403.98 and look for 405.86 – 407.72
  • Break 407.72 and look for 409.87 – 411.89

https://preview.redd.it/1qsx2kgd7im91.png?width=1456&format=png&auto=webp&s=dc2cbcc9bd1bb0105ba8d6f16458cd7013b07712

Notes

  • Personally, I’m looking for a dip to 395 range to see if buyers come in to see if we can make a run to 400 and 405. We shall see.
  • 15 min RSI: 70.56 (overbought)
  • 65 min RSI: 63.10 (bullish – near overbought)
  • Day RSI: 43.05 (neutral)
  • 5 min. RIS bearish divergence printed in afternoon

https://preview.redd.it/h4hy6u8f7im91.png?width=1456&format=png&auto=webp&s=d166aeddf8f40e01bb92ee54d65bc078e3b3f14b

  • 5 min. MACD bearish divergence printed in afternoon.

https://preview.redd.it/4nstojyh7im91.png?width=1456&format=png&auto=webp&s=626030a1e636c835c5cc9472f39f11677baf0782

  • Netflow – 1 Day – Puts decreased as calls stayed relatively flat.

https://preview.redd.it/g4km58ev7im91.png?width=1456&format=png&auto=webp&s=8e3b0603e72390db21c8811014403dc038455930

  • Netflow – 5 Day – Bearish structure. Calls and puts decreasing – puts more so than calls.

https://preview.redd.it/gpzxhfmy7im91.png?width=1456&format=png&auto=webp&s=4967f1425f09394a250c2a175459c0fd45cc240a

Positions

Played 395p lotto.

https://preview.redd.it/kw8y5ut18im91.png?width=1302&format=png&auto=webp&s=3187360e3f48def9bc3d3ad883bfb3c4935a089a

https://preview.redd.it/rk5xlb238im91.png?width=1456&format=png&auto=webp&s=d4a0a7b2bc383a9ddf845f3642f062e31e8aa91f

Submitted September 07, 2022 at 11:26PM by jjd1226
via reddit https://ift.tt/VxqR9by