So what are we looking at? Friday, Thursday, Wednesday, Tuesday, Monday, right? So we had a nice breakout this week on Monday. I mean, you look at that, look at the move right from right here on Monday. We had a nice retest of our 4,600 level on the bounce, right? We came back and had a small pullback on Tuesday, nice bounce, Powell coming out and talking fed, right? We had a nice gap up there on Thursday. A little overreaction, a pullback, not surprising after the move on Wednesday today, a slight move up, very small candle, kind of filling that gap in there from the previous day. So overall, really nice move. Now we’re down, we’re down today, 36 cents from yesterday’s close.
If we go ahead and look at a weekly candle you could see that we had 114, almost 115 points this week on our weekly setup, right, on our weekly candle. Great move. We finally, we’re out of this downtrend. Now we are 1, 2, 3, 4, 5, 6, 7 weeks in a row. Strong, bullish move to the upside. Some bigger than others, but overall bullish weeks. We look at the monthly candle and we are now our second candle. And keep in mind we’re only, what’s today, the 15th, only 15 days into the month.
So we’ve got some time left for this candle to continue. The question is, will it make it up to the 4818.62? That’s the first place we’ve gotta be looking for, and then about 4,900 is our next target from there, right? So if we go over and look at the VIX, at fear. We look at fear. We’re down 21 cents today from yesterday’s close. We had a little bit of a pop yesterday, but here’s the thing… We are so low on VIX 12.12, we haven’t been there since fricking 2020 or something, right? Great VIX level. Really super low. So when you see that big white candle yesterday on the vix, big deal. I mean, so what it means, absolutely nothing. And what do I mean by that? It doesn’t matter that you had a big white candle yesterday. “Oh, Look how big that is.” Yeah, was it like 30 cents? It was so low. It really doesn’t make a difference anymore, is what I’m getting at, right about that size of that candle. Okay, so let’s see what we’re looking at for next week. Right now we’re sitting at the -.809 on our FIB line, which is a fibot. We’ve got a 4,700 just down below where we are. Our eight moving average a little bit further down than that. I’d like the confluence to happen if we can get near that fib line and bounce. I just don’t know if it will. I think we’ve got a better shot of the moving average catching up. Probably not this year. Probably not.
If we continue to move up, I mean I think we might get some smaller moves up. I don’t know if we’re gonna get this continued large push that we’ve had since Tuesday or Wednesday, but that 4661 is an important level up above there. We’re looking at 4792.96, so call it forty seven ninety three, which is really the 4,800 level, which puts us right back at that previous 4,800 level that we had when we looked at the, the bigger chart, right? We had a 4,800 level going back just 2021. Okay? That’s how long it’s been since we have been in that area, in that vicinity. Okay? So overall, I like the pattern. I like what we’re seeing here.
Do not get sucked into…”Believe me, we’re in a bullish market and we’re just rocking and it’s time to buy.” I’m not saying you shouldn’t. I am not. I don’t necessarily trust this, understand that. I just met last evening with our highest level coaching group, our Inner Circle. We had this conversation ad nauseum and there wasn’t one of them in that group last night that said, and I quote, “the market looks like it’s gonna continue to rock here. This is a place to buy.” No one felt confident enough that we were at a point of buy, buy! And may be saying goodbye to that content. Right? That doesn’t mean there aren’t opportunities to take bullish entries. It’s just a matter of if you’re an investor and you’re looking long term, you may have missed out a little bit at this point, you may want to wait for a good pullback and a good reset, retest before doing that.
With that, have a great rest of your day and I’ll see you all on our next update. Bye for now.
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