2024 has been all about the overnight. From the rallies between Jan to March, to the drop in July/August. For the most part the open hours market action has been stagnant (baring past few weeks following local lows)
"Who was leading, who was losing and where was the weight"...hell yeah Brigade! I honestly think the chop is over now. I'm medium long and looking to deepen the longs.
Hi Matt what is the difference between floor trader and portfolio? I am thinking about joining your channel but need to know what are the benefits of each of these plans. Thanks
What will be the catalyst for the crash? We’ve had the crash due to unemployment/recession , Japan , war fears all coming at once, then we had the technical pull back. Of course future events can be bearish eg bad data for economy or employment, or war fears etc could reemerge. But on a technical level the subdued end to the week could simply be due to 1) opex 2) market digesting after a big move up, for NDX 19900 would be an almost 1600 move in almost 10 trading days. So likelihood is it’s just consolidation, fill some volume, reset the rsi’s etc. But most of 2024 has been about overnight action moving the market. From Jan to March it was overnight and data bumps up, with little follow through in open market. Then in July/August the biggest drops were overnight
Thanks Matt, Personally I think there are a lot of signs that a Risk Off portfolio is making a lot more sense. The differential between the /ES and the 200 SMA, the SAHM indicator at 0.57, the 0.5% interest rate cut, and choppier conditions all point to a correction. The key questions are when? and with what magnitude? Whoever could predict that accurately would be an extraordinarily successful trader. Thanks again for your top-notch in-depth analysis.
I'm keeping an eye on things for the next few months. Most of the time, a cut comes, and then a recession sets in. Let alone a double cut. It's always possible for a soft landing, and maybe JP has some magic. I'm 60/40 that it will not be soft. It always seems that there is a last hoorah before a crash. I'm expecting a move up for a little longer and switched from leveraged to larger DCA investing. I hope the upcoming 'Black Monday' won't hurt as badly. I watch charts all night as well so I can hedge shorts if needed. I'm convinced it is coming, though.
COST earnings after hours this Thursday. Results might not support a 50x+ fPE, but doubt COST mgmt commentary brings the entire market down cuz its stores and gas lines are still jamming.
You might be using electronic trading hours vs regular trading hours. However, if you're not using the same platform as him, your data will always differ ever so slightly... As different platforms pull data from different sources. Though, it shouldn't ever be too different. Meaning, it shouldn't make a difference w/ your trades.
I think no recession. Why? Because I think business activity has been slowing because people no that at least 75 basis point cut in rates is coming. So why finance new projects with a 75 basis points in higher costs? Now that the Fed has cut 50 basis points, it will convince some to start those projects instead of delaying them further. if they didn't cut 50 basis points, it would have been most likely that these projects would have stayed on hold until December. However, all this new business activity may bring inflation back, spooking the markets that no more rate cuts are coming.
The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenback. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...
💫MY BROTHERS AND SISTAS! Let US ALL Reflect and Read Sum SCRIPTURE! This time from the GREAT BOOK of ESZ24 VERSES 5749.25 - 5751.75 "Those WHO WALK with the BRIGADE Grows With the BRIGADE, A Companion of FOOLS Shall Suffer MARGIN CALLS. BLESSED are the PATIENT ONES, for they SHALL Inherit Thy GAINS" Can I Geta AMEN!!💫
It’s funny I’m reading this comment as he says “I’m not calling for this to send markets back down to $500, but is it a reasonable place for the market to pull back a bit?” So wtf are you talking about? Should the market go straight up? Lmfao
Dont overuse the Blue- SKIES phrase it sounds stupid especially with Double Monthly Dojis for the SPX and if not for the FOMC this week .. it may not have looked that good at this time but the Months not over is it?
Keep being bearish hoping for a crash for the past 4 weeks as the market keeps hitting ATHs. When everyone is bearish, THEY do the exact opposite. Hope people who listen to these bears, didn’t lose their shirts in the past 4 weeks.
We will be in that box within the range because we still have uncertainty in the election. There is no justification to go higher unless job report is fantastic.
Why dont you show your unemployment Chart. Id say any seasoned CMT would have his own going back atleast 20yrs.Without a chart you are guessing and giving me an weak opinion out of context.
NOBODY knows what is going to happen. If that’s what you’re expecting you’re always going to be disappointed and shouldnt even bother watching technical analysis videos.
Not how trading works. It’s all about if this then that. If we break out and confirm off of previous resistance, go long. If we fail support and test previous support and fail go short or don’t do anything depending on how you like to trade. Next important factor is what are the levels. That’s what these videos are about.
Not only was the breakout not euphoric, it happened in overnight futures with a volume of 140k contracts being traded
2024 has been all about the overnight. From the rallies between Jan to March, to the drop in July/August. For the most part the open hours market action has been stagnant (baring past few weeks following local lows)
@@htruth1785While this has left a few daily gaps open (0.05 at 559.40, 0.39 at 539.89), there are none on the weekly.
Short covering
@@htruth1785 Reversals have been MONEY!
i heard the argument it was short covering, but the market can remain stupid irrational
"Who was leading, who was losing and where was the weight"...hell yeah Brigade! I honestly think the chop is over now. I'm medium long and looking to deepen the longs.
Good call on Industrials. Slower but not a worry in light of Technology.
Hi Matt what is the difference between floor trader and portfolio? I am thinking about joining your channel but need to know what are the benefits of each of these plans. Thanks
Thank you Matt!!
🐐🐐🐐 The GOAT does it again. Another awesome analysis, Matt. Thanks!!!
What will be the catalyst for the crash? We’ve had the crash due to unemployment/recession , Japan , war fears all coming at once, then we had the technical pull back. Of course future events can be bearish eg bad data for economy or employment, or war fears etc could reemerge. But on a technical level the subdued end to the week could simply be due to 1) opex 2) market digesting after a big move up, for NDX 19900 would be an almost 1600 move in almost 10 trading days.
So likelihood is it’s just consolidation, fill some volume, reset the rsi’s etc.
But most of 2024 has been about overnight action moving the market. From Jan to March it was overnight and data bumps up, with little follow through in open market. Then in July/August the biggest drops were overnight
Thanks Matt, Personally I think there are a lot of signs that a Risk Off portfolio is making a lot more sense. The differential between the /ES and the 200 SMA, the SAHM indicator at 0.57, the 0.5% interest rate cut, and choppier conditions all point to a correction. The key questions are when? and with what magnitude? Whoever could predict that accurately would be an extraordinarily successful trader. Thanks again for your top-notch in-depth analysis.
I'm keeping an eye on things for the next few months. Most of the time, a cut comes, and then a recession sets in. Let alone a double cut. It's always possible for a soft landing, and maybe JP has some magic. I'm 60/40 that it will not be soft. It always seems that there is a last hoorah before a crash. I'm expecting a move up for a little longer and switched from leveraged to larger DCA investing. I hope the upcoming 'Black Monday' won't hurt as badly.
I watch charts all night as well so I can hedge shorts if needed.
I'm convinced it is coming, though.
the consensus is SPY 600 end of year. Just buy long dated call spreads and hold.
Thanks Matt.. unfortunately I am starting to think that everything is priced for perfection won't take much to take it down a bunch
COST earnings after hours this Thursday. Results might not support a 50x+ fPE, but doubt COST mgmt commentary brings the entire market down cuz its stores and gas lines are still jamming.
Why are we looking for giant -- giganic -- candles in the chart relative to what's been happening so far?
Thanks Matt. Keeping an eye on these levels holding moving forward into October.
good one Matt.. Gold and XLU up.. interesting!
Thanks for the update
Based Brigadiers homies friendos reporting in! Let's do it up
Mathew, thank you, great show and insight! Loved! My brain is going a million mph, my mouth is not...not true, excellent presentation,
I noticed that my nq/ and es/ price levels slightly different than yours? Is there a way to change/fix it??
You might be using electronic trading hours vs regular trading hours. However, if you're not using the same platform as him, your data will always differ ever so slightly... As different platforms pull data from different sources. Though, it shouldn't ever be too different. Meaning, it shouldn't make a difference w/ your trades.
I like the candlestick breakdown.
Keeps the basics in play.
Fundamentals.
Thanks Matt! Well done. Have a nice Sunday.
Great commentary, thanks Matt!
Thank you for the weekly updates!
I have learned so much from your market analysis. Than you Matt!
LETS GO BABY!! Thanks Matt!!! Trust the charts🎉🎉🎉
Great trading insight and love the stock suggestions
Thanks Matt
Tops can be complicated.
thanks.
I think no recession. Why? Because I think business activity has been slowing because people no that at least 75 basis point cut in rates is coming. So why finance new projects with a 75 basis points in higher costs? Now that the Fed has cut 50 basis points, it will convince some to start those projects instead of delaying them further. if they didn't cut 50 basis points, it would have been most likely that these projects would have stayed on hold until December. However, all this new business activity may bring inflation back, spooking the markets that no more rate cuts are coming.
54:52 I'm here for it
FREE FED MONEY IS BACK!
My bias is set 😁
Many thanks Matt for sharing!!!
Another week of September Dip-buying next week..AI and EV sectors for long-term gains. Thumbs Up video/ comments. Thanks
Great TA, ty.
Let’s go Matt perfect timing
Appreciate all your efforts
Utilities are rallying because of AI demand so it is not a defensive indication
this week we crash UP UP UP baby $$$$
this gap up is rollout....contract changed
52nd viewer ... woo hoo! Thanks Matt for the excellent TA and entertainment. 😊
How about $PLTR?
Pltr needs to get above and hold 37.15 by Mondays close, otherwise it could consolidate above 31 below 37 for awhile.
Nice Matt thank you 🫡
for SPY my current read is I think the current high will remain as is and we will start to slowly down trend all the way to about 453 …
453? Please explain how you think it will drop over 100$🤣
@@dpdrocks9847 too much to write ….ive done the analysis 3 different times …10!different ways … much easier to explain via phone vs. text …
Now THAT is going out on a limb!!! PZK & Ponzi, would be proud😂🤣👏🏻
@@iSPY_Lunar lol…no Ponzi here …but when i’m right …you’ll think …who the hell was that guy …how did he know…lol
@@johnnyotc8470Care to venture or share a timeframe? So we can all get a Lambo!!! 🎉😂🏎️
copy that
ES 6k
Excellent video 588
The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenback. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...
💫MY BROTHERS AND SISTAS! Let US ALL Reflect and Read Sum SCRIPTURE! This time from the GREAT BOOK of ESZ24 VERSES 5749.25 - 5751.75
"Those WHO WALK with the BRIGADE Grows With the BRIGADE, A Companion of FOOLS Shall Suffer MARGIN CALLS. BLESSED are the PATIENT ONES, for they SHALL Inherit Thy GAINS" Can I Geta AMEN!!💫
Amen 🙏🏻👍🏻
here comes the dip week..just have to inverse the thumbnail.
Sounds like you are bearish. Time to go long
This is all more intervention. Over a decade of subsided B.S.
I love ZERO risk free money $$$ buying SPX $$$$
Does this channel always predicting crashes and bear markets ?
It’s funny I’m reading this comment as he says “I’m not calling for this to send markets back down to $500, but is it a reasonable place for the market to pull back a bit?” So wtf are you talking about? Should the market go straight up? Lmfao
@@CGtrades the fact is that we 'll Never know when it comes
Yep he is extremely bearish all the time.
This bubble will burst soon
What bubble?
👍
🙏🏼🐐
Dont overuse the Blue- SKIES phrase it sounds stupid especially with Double Monthly Dojis for the SPX and if not for the FOMC this week .. it may not have looked that good at this time but the Months not over is it?
👍👍
No downside, this market is up all year
😂😂😂
🤡🤡
perma bull mentality 🗣️🗣️🗣️🗣️🗣️🗣️🗣️🗣️🗣️
Sidized pool of debt. Watching the bus drive off the cliff..
Floor it Jerome... lol Evel is dead.
30% down from here is my prediction.
I'm thinking 20%!
What if Costco beats and raises?
@@skunkape5918 Costco will never go down 😎😎😎
You get that from price?
How did you come up with this?
Keep being bearish hoping for a crash for the past 4 weeks as the market keeps hitting ATHs. When everyone is bearish, THEY do the exact opposite. Hope people who listen to these bears, didn’t lose their shirts in the past 4 weeks.
We will be in that box within the range because we still have uncertainty in the election. There is no justification to go higher unless job report is fantastic.
The market will prove you wrong
🥳🥳🥳✌️✌️✌️🙏
Why dont you show your unemployment Chart. Id say any seasoned CMT would have his own going back atleast 20yrs.Without a chart you are guessing and giving me an weak opinion out of context.
Too many "If's" just say, I don't know what will happen. A two minute video is all that is required.
NOBODY knows what is going to happen. If that’s what you’re expecting you’re always going to be disappointed and shouldnt even bother watching technical analysis videos.
Silly comment, no-one knows what will happen ^
You are awarded the worst comment award. Congratulations!
Not how trading works. It’s all about if this then that. If we break out and confirm off of previous resistance, go long. If we fail support and test previous support and fail go short or don’t do anything depending on how you like to trade. Next important factor is what are the levels. That’s what these videos are about.
cl bouncing off 50 ma
Thanks Matt!!
Thanks Matt.