darcy kincaid

SPY 15 m update to published 240 m chart

BATS:SPY   SPDR S&P 500 ETF
209 0 0
This is an update to
SPY A 15 min chart perspective
. For some reason the published charts are appearing with many drawing errors on our browsers(chrome,firefox,opera) but the analysis we publish with them will explain what to expect.

We started to publish this chart about 2:00 pm but have been too busy so the price action has advanced quite a bit since we added the target levels for the intraday short that is in play. The green right arrows are targets 1,2,and 3.(The red arrows are Aggressive Intraday Shorts and the right Green arrows are their respective targets, (These were the entries and targets identified for our clients on this Intraday 15 m time-frame during the last few days.)

As is evident by viewing the previously published chart, the 1st target of the Intraday Short is approaching but there is still one more Aggressive Intraday Long setup that will be a reaction area before that level is reached. Note how the failure level of the Long is very close to the 1st target level of the Short.

Well, we aren't able to complete this update ahead of the price action so the targets are much closer than when we began. Still, it demonstrates nicely how the identified targets and reaction levels are very accurate.

Note that the Long is close to the failure level but is still holding. This is a good example of how smaller time-frame targets and price reaction levels will be reached during the last hour of trading on smaller time-frame charts.

Will you take the long or wait for the short to reach the 1st target to gauge the reaction?

This chart is another reminder of why we trade LT             in trend and ST             counter-trend. These price levels are always identified in advance, as all of our published charts demonstrate. However, we aren't always able to publish all applicable levels on this site because of time-constraints that dictate that our clients must receive top priority. Still, there is more than ample information for all to benefit from on our published charts.

Trade the chart and trade safe.
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