To The Moon

$E-mini S&P 500 - main 2406(ESmain)$ Futures provide technical references for the bounce, considering oversold RSI and Stochastic at the time of a big gravestone that ended up setting the reversal. Not my favorite candle for a bullish reversal but it can happen.That same gravestone exists in $PX, very close to $5008, a support mentioned that it would be interesting if it holds.Let's see how the day goes.For $S&P 500(.SPX)$ :Bullish above $5110Bearish below $5061Imagehttps://twitter.com/SmartReversals/status/1786019080740241738

The CPCE ratio (CBOE Equity Put/Call Ratio) can be used as a sentiment indicator to gauge market psychology.While not the highest reading of the year, the CPCE closed yesterday at 0.85, marking the second peak of 2024. This suggests a bearish bias, with more put options being traded than calls. High CPCE can signal oversold conditions, potentially leading to a bounce, which is what we saw today. $Apple(AAPL)$ earnings can seal the deal or affect today's move in $S&P 500(.SPX)$ $NASDAQ 100(NDX)$ and all the market in general.Apple's sales drop 10%. Can the $110 billion buyback cushion the blow?Ideally, SP500 has to reach and consolidate $5084, now that $5061 wa

$S&P 500(.SPX)$ - The downtrend remains in control, dictated by the 20DMA currently at $5087.Despite this, $Apple(AAPL)$ 's positive earnings reaction is giving a boost to the market, with SPX futures up 0.33%.In my previous post, I highlighted the importance of the $5084 support level. Notice how the 20DMA is hovering near there now.Breaking above this key moving average would be the first step towards a potential trend reversal.The market's reaction to tomorrow's NFP data is a wildcard. A negative response could mute the positive sentiment from AAPL's earnings.While the 100DMA continues its upward trend, potentially acting as a support level in a continued decline, a bullish MACD crossover would be

$iShares Russell 2000 ETF(IWM)$ - SmallCaps looks good, better than other indexes.✅100 and 125 DMA offer strong support.✅Bullish MACD Crossover.✅Higher lows during the last two weeks.Totally consistent with the weekend newsletter: "IWM is not expected to break below $188, that is a confluence zone of an annual S/R level, 40 Weekly Average, and the lower Bollinger Band. For the near term, the weekly 20 MA, today at $199.3, may bring near term turbulence unless it is jumped quickly."Next mission: consolidate $200 as soon as possible.Imagehttps://twitter.com/SmartReversals/status/1786154746467729516

$E-mini S&P 500 - main 2406(ESmain)$ Bounced at $5042, a S/R level shared last Friday.A gap down is good for $S&P 500(.SPX)$, even better with a doji, as futures suggest as of 9AM.But it’s FOMC day, it would be odd to see a daily doji.$5042: Interesting level to watch for E-MiniS&P.For $E-mini Nasdaq 100 - main 2406(NQmain)$: $17,356. Also shared last Friday in the weekly S/R Levels edition. $SPDR S&P 500 ETF Trust(SPY)$ : $499.2 $Invesco QQQ(QQQ)$ : $419.1https://twitter.com/SmartReversals/status/1785660396453445671

$S&P 500(.SPX)$ - Short term bounce for scalpers only. Impulse faded once again:There was an interesting bounce in pre-market for $E-mini S&P 500 - main 2406(ESmain)$ ES_F, and during market hours SPX held the support level mentioned yesterday as first line of defense: $5008.A bounce did happen just to vanish again and validating the further decline thesis.A big move is coming, see the triangle in formation.I shared for everyone more details about the SPX chart with the target for this decline, click in bio.Price continues above $5008, but in this position and with a bearish Stochastic, it's difficult to see an inverted hammer followed by a bounce.Imagehttps://twitter.com/SmartReversals/status

$Apple(AAPL)$ : Another day, another rejection at the 50-day moving average (50DMA).The gravestone candle from Monday seems to be confirming its bearish signal. The gap has been filled as expected, and a new gravestone doji has formed.The Stochastic indicator is curling down again, which is not a good sign since Apple's price often follows these oscillator signals.The only positive element in the chart is the low volume for the recent gravestone candle.$163 will be reached soon if AAPL does not recover $171 quickly. $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $Qualcomm(QCOM)$ $UnitedHealth(UN

A month ago, when I warned that the market was overbought and we were living an overextension, the answers in social media were: "Overbought can continue overbought"I wrote for subs a special study of overextensions, the decline worked as in 7 comparable overextensions. The study also includes the aftermath of such pullbacks.No mention that a month ago April was statistically a bullish month!, I hope the irony of my post from a month ago was captured (read below).Two weeks ago, the narrative shifted to "Oversold can stay oversold."Following the crowd is the worst decision in trading.Another special study is coming, I'm waiting for the monthly chart to close. $S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)

$S&P 500(.SPX)$ Daily Chart:As mentioned yesterday, in a publication for for everyone with several charts: "Bearish below $5061."The reinsertion of $Alphabet(GOOG)$ $Alphabet(GOOGL)$ and $Tesla Motors(TSLA)$ to the Bollinger zone were a good addition to weak price action in #SP500 at resistance levels; also the gap fill for $Apple(AAPL)$ after a bearish candle validated by high volume. No mention the bearish weekly MACD signals across the board studied during the weekend. $Amazon.com(AMZN)$ is moving up, that could provide some oxy

$Apple(AAPL)$ Daily Chart:During the weekend, the study of volume at price indicated a potential bounce based on the current base, and the importance of recovering $171.Apple jumped and recovered the $171 level and the 50DMA (double win), but a gap was open and price action formed a gravestone candle with high daily volume.Price is not overbought.The latest gravestone with a gap that had green continuation was on May 30th 2023. It was filled in August 2023.A week of mixed signals, this will be interesting.Imagehttps://twitter.com/SmartReversals/status/1785255013930995995