Another big gap at 2538.2 never filled. It will fill...
Time cycles projected above, top-to-top time is ~ biweekly, 3-4 up days, 2-3 down days, 3-4 up days, ~ nine sessions.
Trading >2SD above 20DMA, green line. This has been the magnet drawing price reversion to mean. Price will tag 20DMA!
NB: 20DMA rests exactly at the gap from 2864...!
Time cycle and price action suggests completion of the 'W' in on or about 21 May, topping right at 3k.
Rollover to a higher low IMO , target 2538 in early June.
Time on target won't last long IMO , probably rest at higher low, for a few minutes and start another move. Hope > Greed > Fear atm...!
This is just an idea, not trading advice; trade at your own risk, GLTA!
Time cycle suggests Rally peak on 5/21 at 3k.
Im short QQQ, IWM, SPY. Long legs all went ITM 5/21.
Just not behaving as expected and the gap at 2920 closed AH, IMO could be priming for a shot at 3k still...
enjoy the long weekend and stress-free Monday nite watching futures without nail-biting!
Since 1928, there have been 29 streaks that have stretched to at least 20 days — and 21 of them ended with the S&P 500 falling below the 50-day average, while only eight ended with a push above the 200-day, he noted, making for a roughly 72% probability the index will break down.
But even if the index were to defy the odds and break to the upside, it might not offer investors much comfort. Goepfert noted. When that’s happened in the past, the median return a year later was minus 9.2%, with equities producing a positive return just 38% of the time, he found.
All positions are bear spreads, shorted the weeklies with 3 days left to expiration range $5-$10 OTM for credits.
Oddly the QQQ 231 puts remain ITM premarket, and FB sells!
Average 68 days in bear market rally, now in day 64, starts to look real squirrley...!
Apparently most of participation now is retail, smart money is sidelined. Typical before a break.
When CD terminates below X, it's a Cypher pattern; these are all volatile, full of traps for bulls and bears; the bear rallies are fierce!
Saw that last week with DJI up 900, SPX gain 90 pips with huge opening gap, bear killer!!
Thanks for the look! Here's skinny on nenstars:
This is a call etf...QQQ NASDAQ CALL????????