2025-05-18 what i'm looking at this week

Author

n qracky
May 18, 2025 • Estimated Reading Time: 3 minutes

🌟 What a week, eh?

Super green, and, wouldn’t you know, at a key level, they announce some news and dump it post market. we’re still bullish overall, but was it enough to scare folk to sell more, or is this another dip buying opportunity? I’m taking it one day at a time, while being aware of where she could go.

🔢 The Numbers this week

Above

let’s start with 21413.25 to say we’re bullish for the week. she’ll have to make another attempt to surpass last week’s highs, and if she can get going, 21725.25, then 22046.25 are in view.

Below

She may gap down tomorrow, and given this reality, 21276.25 for starters, losing that, we have a single print to revisit, 21136, which happens to be near the weekly Value Area Low at 21121.5. We almost have a double distribution, so a trip to the single print and PWVAL may signal a quick return to 20958 and 20836. Losing 20836 may give us quite a deep pullback, as we will have failed 2024’s value area high. Hold on to your butts.

The Big Picture

A lotta waypoints on this map. My big zones of focus are the red and green. She pushed up quite a bit this week. Was Friday’s news enough to slow things down for her to dip below the green area? Or will we consolidate here all week, while trying to determine the next move?

Note that I’ve pointed to a “lower high” on the week, this could be the signal that lower prices are to come this week.

Overall, we are still bullish. That dump was a big candle, but we went practically nowhere. I wanted to post before the open because I’d rather watch with curiosity than make a prediction…will she gap down even further? even below our green area to revisit numbers below? If so, I’d be incredibly careful hoping for a shorter term recovery, unless previous week value area low holds. Will she gap above the red zone, faking everyone out? Seems unlikely based on what “everyone” is saying, but anything can happen, and we can be ready for what that means.

So in short, I’d be careful on any kind of swing longs at this stage, and watch out to see if they continue this creep up action, stay within a range, or decide to breakdown again, paying particular attention to whether or not they want to maintain last week’s levels.

News

Thin news week. But with this administration, we know every day can be a news day.

Date

Time

Description

5/22/2025

10:00:00 AM

US Existing Home Sales

Here’s to patience, learning, and profits!