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Good morning everybody! Welcome back to another trading day it is. Friday CPI has been released CBI came down a little bit. still up a lot a bit. They're still getting poorer, so really nothing to be too excited about. But ultimately Market went up right. Obviously too many people bearish. So Market goes up. So what do we do? we trade up. Um, so ultimately CPI comes out thing blasts up markets now trading at 398. Um, at this point I'd expect maybe Market moves closer to 399 400, 401, 401, 60, 402. but ultimately not really looking for the market to go much higher than this. Zone today. um, or maybe tomorrow. but just in general. Uh, for right now, the market is kind of done. Its smooth. um, nearly done. So if I could just zoom out on this screen a little bit. like so we'll do a five day, five minute. or maybe I'll do something a little. You know, I'll do like a four hour chart or something like that. No, that's too much going on for right now. let's do a 10-day let's do a 20 day one hour. all right. So this should kind of help. you see it a little better. but ultimately right, why is it there that's just being just down there we go. So from one deviation through the half deviation to the solid deviation foreign deviation, to the half deviation to the solid deviation, that's a move. Okay, break out of the solid deviation, shy the half deviation, break back down lower high cell, back down into the mean. Okay, and then ultimately today. well past couple days we did like this. like trading in between the zone and then we'll do video. CPI Breaks up from the half deviation through the full deviation. So through the next half deviation and almost made it to the next solid deviation. That's a gigantic move. For one, it took here. this is one half a day, another day, three days, four days. So ultimately this move here. Yeah, this move from like this day I was a half day. That was a full day. That was another full day. and then on the fourth day, we finally tagged that top and you can see we had a pretty harsh pullback. This has gone from half deviation, full deviation, another half all. I Mean it's made a gigantic move, so we're really not expecting anything much higher than this price for now. Um, can it go higher? Sure. Um, you could even see it. Maybe like a situation like this too. Where like you see like here, how it broke above and then it kind of faded and pulled back down. You might even see something like that where you push up to it and then it gets weaked there and then comes back down. But ultimately most of the long move has kind of been made when looking at the market from a statistical perspective. Um, so yeah, we'll just keep watching this. Market Long bias up to 399.58 to 402.. So anywhere from 399.58 402 is kind of expected. Maybe today? Um so yeah. I mean that's pretty much it. Uh yeah. I mean and then also your deviation support is down here. your first anchor V web continuation move would be at about 39441. Ultimate Um view app support is going to be at 39166. So um, let's just say for example, like we topped here today or tomorrow and then we rolled over and say two days or whatever and came all the way down to like here. this would be probably a counter Trend dip long spot that would create a good bounce. Um, so you know weather was actually today or whether it was this. uh, not that. But yeah, whether we dropped today one up here, then dropped the other day and hit there, that would still probably be a bounce trade around there. So planning for a move to here? Planning for some sort of rejection here? Planning for a dip by down here, planning for a potential breakout above this and dip long off that if it looks really good. but ultimately I mean those are kind of multiple plays we're looking at, we could do a dip, buy off the deviation. Uh, dip, buy off the V web down here. V-wap here. Um, short sell anywhere into this area. Breakout Retested Bile 40160s so different kind of outcomes we're looking at. but ultimately overall, just up for now. All right guys, have a good day, take care.

By Stock Chat

where the coffee is hot and so is the chat

10 thoughts on “Spy 399.58-402 is long target expected sell level for now”
  1. Avataaar/Circle Created with python_avatars Keezer says:

    This was a great chart to use the fibs on today.

  2. Avataaar/Circle Created with python_avatars Keezer says:

    Connor, you call β€˜em consistently. Thank you sir.

  3. Avataaar/Circle Created with python_avatars police_state says:

    Pretty nice call. SPY touched 399.34 today and has been solidly selling off since. 3:15PM now

  4. Avataaar/Circle Created with python_avatars Dylan Bauer says:

    Hey I bought this indicator from you but mine is not calibrated like yours. Has there been an update?

  5. Avataaar/Circle Created with python_avatars Terry Kunath says:

    Thanks again Connor! Have a great weekend.

  6. Avataaar/Circle Created with python_avatars Colton Luchsinger says:

    We want more Connor! (Both him and his insights!)

  7. Avataaar/Circle Created with python_avatars purplestuffist says:

    NOOICEEEEE πŸ™‚

  8. Avataaar/Circle Created with python_avatars Howard Clark says:

    This rally should get the viewers back in

  9. Avataaar/Circle Created with python_avatars The Trading Lab says:

    Long target for ES has been 4100 imbalance since beginning of October. And 2 weeks ago. We probably get it and drop.

    We have crazy imbalance below now. Bulls think it’s all dandy now but it’s not even close. Fed won’t pivot next month but prob see 50bps. Either way gonna be fun

  10. Avataaar/Circle Created with python_avatars Dritharashtrar Stikarthikeyan says:

    1st again. Video was actually suggested

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