The market has come back to reality after the FOMC sugar high. At least now the market can start to build some proper structure and I can clear some of the lines off my charts. As I wrote in retracements and measured moves a move to 1500 can still happen after a 50% retrace: I…

Yesterday found support at long term HVN 46 (see template). Bounce at NVPOC and Gap and too much Resistance at multi day close area HVN 1453. Support today: ONPOC 1453, failing that 1450.75 ONLO/VAL, 1449 Yday VPOC. Resistance: 3 x vpoc at 1457, LVN 1458, then possible 1462 Composite

Fridays sell off was severe. The white/black boxes at the bottom are above/below average volume days. The VB (ask vs bid delta) was a large red doji with a wick at the top and solid at the base , indicating that sellers prevailed and any bidders got aggressively hit. In the final 3 days of…

In the end 1462.25 was the top tick and it closed at 1451.5

From Aronson’s Evidence Based Technical Analysis:

I am going to call this algo fooprint the pagoda pattern – bots searching for stops without fully committing. “Bewildered by ‘casino capitalism’? Stunned by waterfall declines in individual stocks – not to mention the entire market – that reverse in the space of an hour or two? Perplexed by the evident schizophrenia in traders’…

First some notes on the Euro which looks like it might pull back from here, comments under charts: You have to respect the measured moves on ES – Some MM’s and retracements: NOTE: the retracements got shallower and shallower. Price broke outside of trend line. I am watching for another measured move using the last…

QE to Infinity is not really good news but it means more money chasing the same amount of stocks. Laws of supply and demand. Current price for December contract is 1458 marked in black line. Hovering around a previous high. If upside continues then Areas of Interest: 1478.25 HVN, TPOC, 1485, 1492 Gap Prior VPOC.…