Are The Bulls Bluffing ? Powell Hawkish On Equities ? Markets In Turmoil ?
Welcome Back Traders, To Another JWJ Capital Weekly Guide
The trend of 4420/4360 has finally seen a breakdown, after almost two weeks of consolidation and trapping a lot of investors and traders on both sides of the range.
Let’s take a deep dive into what this means for the market coming up this week and what stocks to watch on our TTW. (Top Ticker Watch)
KEY EARNINGS REPORT (ER)
Economic Events
This week I will be watching the GDP # on Thursday In the pre-market session, also will be watching the retail/home sales as well. On Friday we also have PCE + Consumer Sentiment, which should act as a catalyst for the markets price action going into the Cash session.
Weekly Recap
Last week, the market rejected our Pivot of 4410 and falling down into the 4360 zone multiple times before rejecting, breaking down and retesting this level for trapped buyers/future sellers to re enter the market at this average. Remember my prices are all order flow driven, never technical analysis, supply + demand or indicator based. These levels are all true inventory levels that should be taken key note of every session, each day and every week.
WEEKLY GUIDE
My key levels will be our weekly pivot zone of 4320 / 4265
Bulls want to remain ABOVE 4320 for more continuation into 4362 / 4410 / 4360
Bears want to remain BELOW 4265 for more continuation into 4240 / 4224 / 4200 / 4182
Low Risk Short Positions can be built between 4410 / 4360 with targets of 4240 / 4200
Low Risk Long Positions can be built between 4200 / 4180 with targets of 4360 / 4410
Suggested Stop - 30 m closes above/below key levels.
OR 15% Stop of Weekly Range
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