1d chart shows descending triangle. Most probably going down. I know the strength is more at the end of the day moved it up. Factors: anticipation of interest rates hike.
Daily Report SPY had some bullish price action today. 2% up day with increase volume. The RSI is currently breaking out. We could see a nice run up to the 435-440 level by end of this week. Since the FOMC meeting is tomorrow that could give it some boost if we get some good news. I want to note that any bounce on SPY will only be for the short term.
We may see one more bounce to 426, possibly 430 (higher high on this downtrend) This may happen overnight or tomorrow. After that I expect continuation of the downtrend. Also we are about to experience death cross on daily (21 of March is my guess), which will coincident with end of pennant. I am short on SPY from 350 with 20% of my position. The rest I trade and swing.
The recruitment of a short position by a major player is not possible by only pressing down on the instrument. To gain a position, the player sometimes with the help of a gap or a sharp upward move of the price enters. Traders open positions on a long, think that the instrument has turned, thus then when they are swallowed and go down, stop-loss orders are...
Can little bull break this micro term and go for the down gap above?
Whats up Traders I would like to see an SPX pull back, over the next month (or two) back in to the low 400's. I think this would be a healthy pull back. I also think the technicals indicators are pointing to it . . . as shown and explained on the chart. If you have questions, post them below! Remember - Bet with your head, Not over it. - Nix
I still think we see some upside. It just makes sense. IF we were able to (might be a far reach but IF we were able to) get into the 430s, it would make sense in so many ways and provide just really nice setups. Dont worry about Jerome or whatever nonsense you are selling yourself a position on or that marketwatch is trying to sell you a position on or CNBC or...
SPY price Analysis March 15th Thank you for watching! I will post trade ideas in the next video.
I really like SPY under 416.90. RSI is overbought on the 30 min chart going into open and MACD looks prime for a reversal.
There is getting to be a solid case for a significant move lower between now and the end of the month. The Hang Seng index broke down below March 2020 lows A Gap in SPY/SPX from Apr5th 2021 is looking to get filled, the same gap when the Overnight RR broke out. You know.. right after the prime brokers threw Archegos under the bus. Russia is still afraid...
AMEX:SPY Lost 71.8% fib at 423 so it's most likely to test 61.8% which is in the 380 zone. Death cross also formed. Bulls are in denial this is VERY BEARISH.
Inverted VIX SPY TRJEFFCRB (Commodities) This concept based on the 18.6 year real estate (land) cycle as described by economists Adam Smith, David Ricardo, Henry George, and Fred Foldvary (in that order).
Chart shows the weekly chart with previous breakdowns from long term uptrend channels shown. As can be seen, the downwards price action can last for a year or up to 30 months in the case of the tech crash at the turn of the millenium. I will be waiting for price to retest the 20EMA on the weekly chart and placing bearish options plays at those price points. I...
SPY measured moves drawn from recent lows- on either side, they tend to want to finish at 127% minimum. This was bull expansion (pink) and projection is seafoam green. You can click either set of fibs to see the draw points
I'm really curious if this week will just flush down to begin this typical bottoming pattern. It was very stuck on Monday, and gave a sign like it was looking off the edge of something but not stepping forward. The real volatility could be just about to jump into the half pipe. My projections change because as the picture evolves, it gives a clearer picture. I'm...
i posted this weekend about $SPY filling the GAP DOWN to about 416 or so... i had chased this gap the day after it made it & got bagged .. they wanted everyone to forget about it .... but not i!!! not theee... got a piece of em & thats all i need tbh ... good day lets get it!!!
below 415 410-412 would be target (intraday) below 410 400 VERY possible... maybe an overnight or swing position if below 410 near close #daytrading #optionstrading #options