I don't really have much to say about SPY, so I will share the levels.
My overall impression is its going up to at least 480 / 481 before we see any major selling. It is playing its peak-a-boo games with that monthly threshold level but it just always goes up no matter what, and even when it sells it recovers with a vengeance 1 day later, so its probably going to stick to that thesis.
I am long on it, so probably will sell next week. But I am just trading the bigger picture at this point which are those 3 month and annual targets.
There are also some bullish targets on DJI for the year:
All in all, just bullishness everywhere.
But like I said, I am swinging this with the bigger picture in mind. The PA is too all over the place to try short-term swinging and I am finding it hard to try and time things for shorter term swings. But I want to swing more this year so the best I can do is just buy and hold haha.
It does seem the 480s are the sweet spot for this week though, especially if we look at a breakdown over the volume ranges:
The lighting of the green means buying volume is increasing in this zone. So the consolidation we saw on Friday increased buying demand volume in a pre-existing demand zone.
If we look at it from a different perspective:
This zone ends at 481, placing the immediate target at 481. Falling below 472.08 and we are in a sell zone and may see this sell all the way down to 462.
As of now, my money is, literally, on the upside.
Keep in mind I am in shares with the plan to increase size if we sell, so don't follow me long just because I am long, as I am positioned a bit differently with a laid-out plan (sort of haha).
For day trades keeping it at SOX and, sometimes, IWM. I got whipsawed to death on Friday though and was barely able to break even, but managed. What a mess of a day that was. So here's hoping for some good trendy day on Monday. It has been the theme lately so, let's count on it :p.
Those are my immediate thoughts.
Safe trades everyone!
My overall impression is its going up to at least 480 / 481 before we see any major selling. It is playing its peak-a-boo games with that monthly threshold level but it just always goes up no matter what, and even when it sells it recovers with a vengeance 1 day later, so its probably going to stick to that thesis.
I am long on it, so probably will sell next week. But I am just trading the bigger picture at this point which are those 3 month and annual targets.
There are also some bullish targets on DJI for the year:
All in all, just bullishness everywhere.
But like I said, I am swinging this with the bigger picture in mind. The PA is too all over the place to try short-term swinging and I am finding it hard to try and time things for shorter term swings. But I want to swing more this year so the best I can do is just buy and hold haha.
It does seem the 480s are the sweet spot for this week though, especially if we look at a breakdown over the volume ranges:
The lighting of the green means buying volume is increasing in this zone. So the consolidation we saw on Friday increased buying demand volume in a pre-existing demand zone.
If we look at it from a different perspective:
This zone ends at 481, placing the immediate target at 481. Falling below 472.08 and we are in a sell zone and may see this sell all the way down to 462.
As of now, my money is, literally, on the upside.
Keep in mind I am in shares with the plan to increase size if we sell, so don't follow me long just because I am long, as I am positioned a bit differently with a laid-out plan (sort of haha).
For day trades keeping it at SOX and, sometimes, IWM. I got whipsawed to death on Friday though and was barely able to break even, but managed. What a mess of a day that was. So here's hoping for some good trendy day on Monday. It has been the theme lately so, let's count on it :p.
Those are my immediate thoughts.
Safe trades everyone!
Comment:
Comment:
Closed TQQQ, on the sidelines now.
Watching what SPY does.
Watching what SPY does.
Comment:
I'm out the rest of the week. There is just far too much massive indecision from big players with this extreme whipsaw in all directions and its just treating the thresholds like a revolving door at this point.
I am long still for the longer term. I will just set alerts and if it comes down further will continue to add in long direction. But PA is far too hostile to try and play intraday .
GLTA and be careful if you're day trading it!
I am long still for the longer term. I will just set alerts and if it comes down further will continue to add in long direction. But PA is far too hostile to try and play intraday .
GLTA and be careful if you're day trading it!
Comment:
I have to share this because this just made me LOL haha:
This is a visible volume profile I developed a little while ago, it gives the added benefit of notifying when there is a spike in buyers or sellers. And it was all, for most part, smoothe sailing, but we get to this very narrow range and there are just spikes of buyers and sellers front right and centre. No one knows if they're coming or going. Its actually really funny. haha
Stay safe everyone!
This is a visible volume profile I developed a little while ago, it gives the added benefit of notifying when there is a spike in buyers or sellers. And it was all, for most part, smoothe sailing, but we get to this very narrow range and there are just spikes of buyers and sellers front right and centre. No one knows if they're coming or going. Its actually really funny. haha
Stay safe everyone!
Comment:
hahaha nvda:
Such a mess
Such a mess
Comment:
Better start to the day today, seeing NQ tank last night and actually follow my original analysis i had to get in on it.
As of now, its just become the same sitch as yesterday. Far too volatile to trade and just whipsawing everywhere. I don't recommend dip buying here, its very all over the place with no clear purpose. I am sitting the rest out because its not even really scalpable with what its doing.
If we continue down the next target for Q is is 401.
Spy i have no idea, I just completely lost interest in tracking it live.
But I dod suspect we should go up from here, just from the sheer obnoxiousness of the dip buying. Just don;t wanna bet money on it.
Safe trades!
As of now, its just become the same sitch as yesterday. Far too volatile to trade and just whipsawing everywhere. I don't recommend dip buying here, its very all over the place with no clear purpose. I am sitting the rest out because its not even really scalpable with what its doing.
If we continue down the next target for Q is is 401.
Spy i have no idea, I just completely lost interest in tracking it live.
But I dod suspect we should go up from here, just from the sheer obnoxiousness of the dip buying. Just don;t wanna bet money on it.
Safe trades!
Comment:
SPY 468 if we continue down:
Comment:
Very curious market...
I am not used to seeing a volatility spike during NYSE lunch hour... curious..
I am not used to seeing a volatility spike during NYSE lunch hour... curious..
Comment:
So today SPY Sold down and clipped the real time PL1 Target:
For tomorrow prob is mixed which makes me think a threshold re-test of the weekly thersholds and then probably rejection.
Else threshold reclaim and move up to the bullish threshold level:
Those targets would be at 474 and 476 respectively.
The anticipated move with this is a move down to 467 as I said previously. Dip buying remains the theme intra-day and it seems the selling that needs to happen is on the off hours. So if we can gap down a bit, it would be ideal to sort of long intra-day for a re-test. Else if we gap up and open at the bearish condition, then look for rejection. Failing to reject, we long to 476, rejection and we short back to PL1 at 470 and ideally PL2 at 467.
For tomorrow prob is mixed which makes me think a threshold re-test of the weekly thersholds and then probably rejection.
Else threshold reclaim and move up to the bullish threshold level:
Those targets would be at 474 and 476 respectively.
The anticipated move with this is a move down to 467 as I said previously. Dip buying remains the theme intra-day and it seems the selling that needs to happen is on the off hours. So if we can gap down a bit, it would be ideal to sort of long intra-day for a re-test. Else if we gap up and open at the bearish condition, then look for rejection. Failing to reject, we long to 476, rejection and we short back to PL1 at 470 and ideally PL2 at 467.
Comment:
Forgot to give the less likely scenario, the off chance Asia doesn't whip this around and we opened where we close, the likely first move is for the threshold re-test at 474. 474 is your key level. Rejection here and its short, break over and its long.
Comment:
So it made it up as I suspected with, what looks like, a lot of rejection (see image above).
But!! If we just look at the chart on the 1 hour:
I am famliar with this pattern and its usually a break up pattern, maening breakout to the upside.
It requires us to ignore the whole distribution top previous patterns which isn't great, but this immediate setup does look like it could break to the upside.
Though on the futures side of things, things are kind of at the top of their daily range. So if we do break up, its likely going to be a trend day.
Be safe!
So it made it up as I suspected with, what looks like, a lot of rejection (see image above).
But!! If we just look at the chart on the 1 hour:
I am famliar with this pattern and its usually a break up pattern, maening breakout to the upside.
It requires us to ignore the whole distribution top previous patterns which isn't great, but this immediate setup does look like it could break to the upside.
Though on the futures side of things, things are kind of at the top of their daily range. So if we do break up, its likely going to be a trend day.
Be safe!
Comment:
Ah, rejection unfortunately:
Comment:
Kind of miserable day, just consolidating which makes it impossible to trade.
Only thing worth trading is TSLA or IWM. Only things that are having some kind of movement.
I luckily knew enough to check IWM and managed to catch the bounce off pL2:
Will get back long if it breaks over the bearish condition, but otherwise it seems like there is a possibility for it to sell. However I think it won't with what the market doing here today.
Safe trades!
Only thing worth trading is TSLA or IWM. Only things that are having some kind of movement.
I luckily knew enough to check IWM and managed to catch the bounce off pL2:
Will get back long if it breaks over the bearish condition, but otherwise it seems like there is a possibility for it to sell. However I think it won't with what the market doing here today.
Safe trades!
Comment:
Got long on TSLA:
250 Raw tsla shares, looking for a move back to the next volume range (approximately 212.62. Avg is 210.24.
250 Raw tsla shares, looking for a move back to the next volume range (approximately 212.62. Avg is 210.24.
Comment:
Stopped at breakeven haha.
Man what a day. I made very little because of the whipsaw kept triggering my trails. smh.
Hoping for a better day tomorrow! I will be watching IWM, lesson learned haha.
Man what a day. I made very little because of the whipsaw kept triggering my trails. smh.
Hoping for a better day tomorrow! I will be watching IWM, lesson learned haha.
Comment:
Hey everyone! So my initial thinkign was correct, it was indeed a break up pattern! One of my own patterns I have learned to recognize over the years haha.
Be careful today, there is a chance of some retracement with an outstanding high prob on NQ:
If we re-trace, I would get long. I am on the aversive side for shorting so try to focus on longs, but based on this setup its not something I would jump in long right away.
Be safe and take care!
Be careful today, there is a chance of some retracement with an outstanding high prob on NQ:
If we re-trace, I would get long. I am on the aversive side for shorting so try to focus on longs, but based on this setup its not something I would jump in long right away.
Be safe and take care!
Comment:
I've never traded such a hostile market like this before.
I'm not sure where it goes from here, besides all directions.
If I had to guess, up, because up always works haha.
Good luck today!
I'm not sure where it goes from here, besides all directions.
If I had to guess, up, because up always works haha.
Good luck today!
Comment:
And we have breakout on the 3 month:
Great! I don't regret all the adding of longs now haha. I will likely set a stop in profit at a break back below the threshold. But all in all we are on track to head up to these 3 month highs!
Great! I don't regret all the adding of longs now haha. I will likely set a stop in profit at a break back below the threshold. But all in all we are on track to head up to these 3 month highs!
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What a nightmare market, lmao.
I tried to dip my toes back into options with NVDA today and BOOM 60% loss.
Able to recover break even by flipping directions but then went to QQQ, short. All well, and BOOM 50% loss. Jeeze, I have no clue wtf happened, I was like the king of 0 dtes (and these optiosn weren't even 0 DTES!!) I guess destined to be a share trader for the rest of my life.
Anyway, here we are, parabolic as expected. I got long on QQQ after my nasty short stop out, in TQQQ 2,000 shares (yes, revenge trade, I usually never max more than 25k on shares but I was ANGRY). Added to SPY long.
At this point QQQ looks like its going for weekly high at 412.08.
Though be mindful if we are going to 180 it will be here because this is SPY setup on the week: