Mon 04_22

 A typical move you see a lot of in the SPY; Higher high price breakout (1), pullback making a lower low (2) but price retains a significant level on multiple tests (more visible on the faster time frame), which lead to  price squeezing higher.

today's breadth

Opening swing and first hour (Initial Balance).  Very wide IB range today, yet the high was still taken out (higher value being priced in).

Volume Profile coming into today

Volume Profile going forward

ES globex, Opening session in black vertical dash line, arrows indicating entry potentials

Higher time frame:  Daily price is spending a good deal of time within the 20- & 50-day MA window.  A large gap remains overhead, and it would be healthy to spend some time auctioning this gap range, but a 65-min fast line/slow line cross would temporarily change this higher time frame bullishness.

Crude Oil-

Gold -

AAPL

WAY oversold.  But what is oversold can remain oversold longer than most can remain solvent.
Weekly chart (below) showing the largest negative momentum ever, however, price has (so far) held a higher low, giving us a reverse divergence.  Now, "the largest negative momentum ever" could mean one of two things; either it is capitulative in nature, or the phrase 'momentum precedes price' applies.  Either way, a bounce is expected sooner rather than later and it should be quite strong.  We won't know it the negative momentum is capitulative or the beginning of more selling to come until we see how the bounce plays out.

At the very least, I would wait until the faster time frame (65-min on the right, below) sets up a 3d criteria.  Essentially looking for an extreme flush (bear trap) or a higher low (which could come in the form of an inverse H&S on the 65-min chart below) that then takes out the $555 level.