ST trend: up On Friday we were noting that the ST trend was neutral as in the o/n (ES was at 4385 at the time), both sides were looking inefficient via FGSI. We did warn however that "A sustained move above ML would reassure that the bottoming attempt from yesterday is playing out and the […]
ST trend: neutral Yesterday we were mentioning that the ST trend was down, with potential bottoming attempt. That played out as expected, as buyers stepped in and pushed prices higher, avoiding the most bearish scenarios for the time being. The market rallied hard, pulled back around mid day, then bounced to close the cash session […]
ST trend: down (with potential bottom attempt) Yesterday we were mentioning that the ST trend was down, as price was still below ML and FGSI was showing both sides were inefficient. The market continues to chop between the bearish and bullish EE on FGSI, and even tried to break above ML after the cash market […]
ST trend: down On Friday we were mentioning that the ST trend was up, with potential pullback set-up, as FGSI was at extreme optimism. The pullback was small, then the market pushed to new highs in a very choppy session. It also made a new ATH after hours. The Sunday session saw a pullback from […]
ST trend: up (with potential pullback set-up) Yesterday we were mentioning that the ST trend was up, with a potential topping pattern, as both FGSI and IGSI were showing unconfirmed highs. The market did pullback from there and even overshot ML for a brief period. FGSI reached extreme pessimism and as usual buyers stepped in […]
ST trend: neutral Yesterday we were mentioning that the ST trend is neutral, as both sides were inefficient via FGSI. Since then we had spikes higher and lower, but price went basically nowhere. Yesterday's cash session did finish higher vs Sunday's o/n, so up grind is still holding. The o/n brough the "usual" vertical price […]
ST trend: neutral On Friday we were noting that the ST trend was down with bottoming attempt. Buyers did manage to hold those unconfirmed lows on FGSI and pushed higher into the cash open, before grinding and giving up some of those gains in the 2nd part of the session. The o/n from Sunday and […]
ST trend: up (with potential ST pullback) Yesterday we were noting that the trend was still up, as sellers were inefficient, but were warning that a pullback could be coming to test ML as FGSI was showing an unconfirmed high. That is exactly what happened. The unconfirmed high on FGSI led to a pullback into […]
ST trend: up (with potential topping pattern) Yesterday we were noting that the trend was neutral as both sides were showing inefficiency via FGSI. Because of the set up on all ST GSIs (FGSI, IGSI and MGSI) we were mentioning that a bigger low might have formed at Monday's lows and that yesterday's action would […]
ST trend: neutral Yesterday we were noting that the ST trend was down, with a potential bottoming attempt (as FGSI was showing an unconfirmed low). We did warn that the bottoming attempt was only a potential as if sellers continued to push, that could have been broken. Sellers did just that and continued to break […]