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Jan 7, 2023, 5 tweets

$SPX has been trapped in a Noise Box for the past 14 days

As at other times patience pays: whichever side SPX breaks out of the box will be followed by a big move

A great trading opportunity

👁️👁️Volume has been higher on bullish days and SPX closed above 20DMA

#SPX #ES $SPY

We should look at the indices that have led the recent moves up and down: $DJI, $IWM, $DJT, #S5TH.

The #DJI has a more defined Noise Box. It broke out of it last Friday, and did so on higher volume, closing above 50DMA and 20DMA. Bullish, DJI should continue up on Monday
$SPX

$DJT has as $DJI a more defined Noise Box. It broke out of it yesterday in higher volume, closing above 20DMA, and like $SPX rigth at the 50DMA

The general look of this chart is bullish short term, so a continuation rally is on the menu for next week

#DJT #XTN #DJI #DowJones

$IWM is lagging somehow

It came out of the Noise Box, and volume has been higher on bullish days, but we need to see more strength here to favor near-term bullish expectations

#IWM #Russell #SPX $SPX $SPY #trading #options
#smallcap #RTY $RUT #ES

#S5TH
The $SPX stocks above 200DMA Index found support for many days on 50DMA

On Friday, it closed back the very important 50% level and the April 2021 trendline

This supports the idea of #SPX breaking above the Noise Box. Bullish

#ES $SPY #ES #Trading #options #futures #SPY

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