bsimo0001

bsimo0001 Updated 

Team TV, following my previous SPY forecast (Refer link below) I feel we have a solid formation of a rising wedge, which gives me more confidence is what might happen. IMPORTANT: Key thing to look for is the next trigger. It's clear that all the economic reports, such as jobless claims, negative earnings, negative guidance, declining demand across the board etc...

bsimo0001 Updated 

Team, following my previous analysis, looks as if the markets are following the suggested wedge pattern, indicating a down week till 17th April overall. Bullish Analysis 1) Short term Price momentum 2) MACD pointing upwards 3) FED intervention 4) Coronavirus peak in sight and Trumpy looking to start opening up the US economy up by 1st May (Highly speculative how...

bsimo0001

Given the FED intervention, looks like the markets will drive higher for up to the 61.8% (2931) fib level with this additional sugar hit. Interesting to note that resistance was found at the 50%, crica 2790. Combined with the first of the banks earnings reports coming out pre-market on 14th April could be the trigger for a small downwards movement to the...

bsimo0001

Given the FED intervention, looks like the markets will drive higher for up to the 61.8% (2931) fib level with this additional sugar hit. Interesting to note that resistance was found at the 50%, crica 2790. Combined with the first of the banks earnings reports coming out pre-market on 14th April could be the trigger for a small downwards movement to the...

bsimo0001 Updated 

Hi team, here are the next steps for the SPY. Background) We broke above the USTL, cleared and closed above the 4hr 49 EMA, setting the new bullish run to complete this bull trap.I see this as confirmation. Futures looking to open slightly lower, however that could be quickly over run by the bulls and keep squeezing shorts. Option 1) Retracement to 50% fib...