MarketSwingPlayer
Long

Long - Price went below trend-line and bounced

AMEX:SPY   SPDR S&P 500 ETF
332 23 0
Long - Price went below trend-line and bounced. Sorry I did not post this chart sooner. If you was following my other charts you would have known to long 4 days ago once price went under trend-line. Try and wait for pullback first.

21 days ago a call was made to short this stock and we discussed when to go long on this chart. ---->
SPY - Short     Price action touched trend line and pulled back
Wait for pull back first.
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KevinT MarketSwingPlayer
3 years ago
What level of pull back do you expect?
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MarketSwingPlayer PRO KevinT
3 years ago
Worst case
snapshot
, Best
Case scenario
snapshot
. Best entry is worst case.
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KevinT MarketSwingPlayer
3 years ago
Thanks for reply.
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MarketSwingPlayer PRO KevinT
3 years ago
See some of my stock twits on my opinion where mkt will go and best entries with hedge. http://stocktwits.com/MarketSwingPlayer
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MarketSwingPlayer PRO KevinT
3 years ago
Any pullback near trend - line or under is an automatic buy signal, if we have that much pullback. Buy when price holding and not in free fall. If buying options, buy insurance as well.(Puts 5:1 ratio or 4:1 ratio) Just in case free fall then still profit.
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Anytime I go long I always offset my purchase with Puts just in case the mkt go against me & vice versa. Great Insurance.
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Through experience relying on the govt is a BIG JOKE! We may get lucky and can buy at price range of $165.50 - $166 wait & see
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Look like price is currently following the best case scenario chart posted earlier today. Let's see what price do Mon.
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Added to my position this morning based on Best Case scenario chart this morning at bounce. Cheers Yall :D
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Very Nice Day, I hear PMO time Tues. Cheers to all.
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Wow can't believe I guessed price for the day on Sunday. http://stks.co/qWaL We can only get better. :D
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Just use price action , channels, trend-lines and news. Nothing else matter, if you want to be right 90% of the time. Indicators lag :)
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KevinT MarketSwingPlayer
3 years ago
What is your opinion about tomorrow?
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MarketSwingPlayer PRO KevinT
3 years ago
I am thinking right now I need to see more price action first. I am thinking that if govt deal is announced and I heard their will be pmo today price should go up. But the govt issues rock this stock every time someone open their mouth about a meeting. If agreement reached I will sell on the news, and expect 4th Jul bots to celebrate. So news is affecting this stock heavily. I have 30 calls and 10 puts as protection.
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Price has been very choppy today. As I type SPY is now $170.20 in after hours trading. Hopefully govt issues get resolved and price can act like normal. Vote tonight so that is going to determine direction of price. May gap up Wed, if debt limit vote is approved tonight
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Observation: 1) Instit are still accumulating shares 2) Price always bounce back no matter what. Spy want to rally Buy Deep Dips if not already
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Holding strong after hours even though companies have bad earnings. This bull want to run... Very bullish sign so far.
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The Big Picture - Price action and the hot potato trend-line http://stks.co/dmig
Past Price action - Last price action prediction http://stks.co/emtc



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Cheers to all longs. Let's march to the upper trend-line. :D
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Alert: Watch Out when we get to $174.60 Possible upper trend line reversal, tighten stops.
snapshot
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Ching Ching. We finally made it to the trend-line. That was fun. The uptrend channel has been broken. Price is changing direction. Seems like a shorting opportunity soon. Let's see Cheers to all!!!!
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Seems like price will continue up for another week. Let's wait and see
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