SPDR S&P 500 (SPY)

[Sean Portman]

Building support. Is what it looks like. The Esmini spent all night catching indicators as they fell and turning them to support. Then spy and market opened up and of course indicator lines are different locations due to different hours of trading. And it attempted to build support also.
But fall was way to hard and down pressure to hard. Indicator trajectory changed but prices kept clonking at the top agains some of them. Changed their direction regardless. Probably going to be doing this for a week or 2 to correct it all in a degrading trajectory to build support.

Just because it’s heading down for 2 weeks, doesn’t mean it’s not a bull market. Of course none of this is a guarantee nor am I the best trader. But Nasdaq hit all time highs for a reason. Im assuming this with current buy/sell pressure from today. If dollar regains strength and fed starts buying more since they had slowed down and we start getting more buying pressure than today, we could see a rebound much sooner. Esmini is buy dominant. It will slow down any falls and ruin predictions.

The opposition is true also. If market gains selling pressure from covid or social unrest or aliens or whatever, then we are going down. But today was a fight against a fall. Impressive

The conflict was very interesting with time frame intervals looking at the indicators. Not many chances to study these interactions. Worth loosing sleep for the experience.