Bear flag showing here on spy and a few other indexes/ sector. This bear flag would be consider a handle for a inverted cup and handle. Smaller time frame looks like this spy And heres NQ We are headed back to bear flag support around 500.. from there we could either finish one more bounce higher 511-514 before finishing the leg down to 480 The bear...
New Thread we have a really big week with Jerome Powell Rate decision this week Wednesday! This is going to move the markets and determine our future outcome for sure Tuesday April 30th levels for SPY Bulls 515 and chances are this becomes your territory to go long possible outcome Bull Market Resumed Bears its a short anything under 511 Bears once 500 is...
AMEX:SPY May 3, 2024 15 Minutes. Last 2 days AMEX:SPY managed to sort out the moving averages issues due to sudden up and down movement on May 1, 2024. Now all moving averages have converged, 50 averages are around 502.5 levels. So, for the day if I consider the last rise from 501.34 to 505.88, holding 503 levels I will have a target of 506 - 506.5 to 510...
you can see risk profile change on bearish rotations of yields and the dollar with bottoming of bonds and market reacted as so today!
Seems like its going to be a short. HA setup for a move to 500 inclusive of extended hours, with an equal bearish setup to 501 with extended hours toggled off. Interestingly enough 500 is also PL2 on the prospective levels (in the chart above). Sentiment for Monday is neutral to bearish. I have included some old tricks and models since this past week relying on...
I am going slowly short. SPY should make another leg down this week. Level of interest is 475-470 Lets see what Wednesday will bring, until then we should stay flat. From the lows of 470, we shall do the usual election run. target 548? Ill be updating this idea.
With the Bitcoin ETF's becoming a reality, there are many new crypto related assets such as BITX provide you exposure to 2x leverage to Bitcoin. This provides traders with opportunities to scale their position, without the risk of liquidation. Ive been waiting for the market to retrace, and perhaps this drop on BTC touching GETTEX:59K , with big news ahead for...
We now have the right shoulder of a large head n shoulder top in IWM we could now see the next move under 191 best of trades WAVETIMER stagflation anyone !!!!
IS there any information about the roof topping pattern? Here is a chart of SPY, and this pattern has been forming for a while now. The house has a support level around 497-493 area were we seen one buyers come in. I have no idea how these patterns tend to resolve, but if we can continue to hold support at that level we can build higher. But who knows right, this...
QQQ had a bad week last week after trying since February to break long term resistance of the Blue trading channel. There was a lot of momentum but ultimately after being squeezed between resistance of the blue channel and support from black channel midline, it was time to take profit for the big guys. Clearly, inflation readings and uncertainty about interest...
NASDAQ:QQQ Bear Flag to the 200DMA Do in last night’s video I went over this in much more detail, but before I take the bear flag off of my chart I want to publish it to see how it plays out. And the bear flag also looks like the handle to an inverted cup and handle. 200DMA is a very real target.
Alot of chatter about bonds breaking upward. But I'm thinking there may a short term bounce on the tlt - Looking at May 10 $89 - $89.5 - $90 Calls Lotto contrarian play - Ill see what they do in the morning
Last week, using oversold bounce, buyers attempted to regain control over the price. Their effort was somewhat successful, as they managed to establish both a higher low and a higher high on the daily chart. However, they failed to set a weekly low, which was a challenging task given the magnitude of the previous week's range. This indicates that bears still...
We are in the middle of a bulls rally. But still in bearish territory. The 510 level is going to be very intense to watch. If the bulls manage to break up and consolidates above 510 bears are dead. I'm not shorting anything yet. I'm just sitting and looking at my long positions.
The chart posted is Low odds BUT must be looked at as the wave structure and the cycle s turn may 8th is nearing .I Am net long spy msft gld dia I have changed my positions and added this morning near the low in GLD I am also looking to buy BITCOIN I have target 56200 to 55900 but we may not get to it .
Comments: Going ahead and rounding out Q3 rungs here with IVR at 82.7. September 20th 160: filled for a 1.99 credit October 18th 150: filled for a 1.61 credit Will look to manage shorter duration rungs as I come to them ... .
It doesn't matter what short term paper contracts do, or taking profits - the East is importing gold and silver at a beguiling rate that won't allow for much shenanigans for the metals market. I was however surprised to see the price bounce exactly off the top of the box. I see silver going down to $24 area, shake out some hands, and rocket up past $30 after...
reading for OF spy potential retesting ATHs might take 2-3 weeks