IvanLabrie
Long

SPY: Time at mode analysis

AMEX:SPY   SPDR S&P 500
My last trade has been a swing long position in the S&P500             .
The analysis tells me that we might see a rally to at least 214.08 or maybe even 214.90 in the SPY             within the coming days.
I will monitor price action around the key fundamental events this month, but I know before hand that if I'm not stopped out, I'll look to exit this swing long in the target zone I mentioned, and also look to exit other equity longs.

Check out related ideas to learn more about the Vix             75% retracement smart money support level . This also matches a FOMC key level as well as the current daily mode support, so odds of price moving up after hitting this are considerably high, and align with the weekly signals on chart.

The rgmov indicator spells caution though, since it has recently plotted a new 44 bar low in the daily, alerting of danger of a downtrend. Currently it's moving up, showing strength of the bulls, and it has hit a 50% speed line support, so we should be safe on the long side for now.

Check out my updated track record here: http://pastebin.com/6CyyqnPT

If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.

Cheers!

Ivan Labrie

Link to Tim West's chatroom: https://www.tradingview.com/chat/#c8BzrhGRvXxGXWnJ
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.


Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.57% on such information.
Comment: The market is waiting for news, like Tim said...Support levels haven't held, but it wouldn't surprise me if we see a move back above the mode here. For now, I'm flat SPY.
Comment: Today's close is quite negative for SPY. After today's news, we still have to wait for the UK referendum to get all potential 'doubts' the market participants might have. A move back above 209.52 would warrant a resumption of the weekly uptrend. For now it's unclear.
Comment: We almost hit weekly support and today's candle is considerably bullish. It'll be interesting to see if we do hit the weekly uptrend target before the time runs out. Timer has until August 1st.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out