timwest

SP500 - SPY - Daily - Rolling over might be too obvious here

AMEX:SPY   SPDR S&P 500
1955 19 32
Mysterious "Island Gap" bottoms in the S&P500             is a odd sign. It is a sign of overnight news driving major price moves.

What I want to see is if the market can hold onto the gains since all of these basing patterns. I will be watching for what happens after the same amount of time here in the base expires. I measured 28 bars over 39 days (see the bottom of the chart). If the price begins to roll over after that amount of time expires, then I would imagine that we are going to go BELOW those levels. Why? Well, I've seen a lot of stock market bottoms in my nearly 30 years career of using technical analysis in the markets and I don't recall seeing a bottom as unusual as this one, so I am suspect of it.

It looks like we could go a little higher to challenge the 203-204 area where there is very little volume traded, which is where there are a significant number of sellers, and see what happens there.

SO - I'm suggesting to Hold Off here at 200 and leave this "roll-over" signal alone and instead to sell at 203-204 with additional sales going back under previous day's lows. Also sell on range expansions down once we reach 203-204.
(SEE SHORT POSITION ENTRY ZONES ON CHART WITH STOPS)

We are just entering the Earnings Season and we can expect unusual movements as these companies provide guidance on how the quarter is progressing. The market has been without guidance for the past couple of weeks as many stocks are in their "QUIET PERIOD" leading up to their earnings reports.

Remember to use your "COUNTDOWN TIMER" in the quote box to show you how many days remain until the next earnings report on each DJIA             item.

Tim 8:50AM EST 10/14/2015



Comment: Approaching sell zone ... a bit more upside to get there...
Comment: ENTRY SHORT ON FIRST POSITION 11:15AM EST 10/20/2015
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com
Looks like we are in the Max resistance zone the red area ... will be interesting to see if we fall from here or go sideways for while to test true resistance. Nice chart !
Reply
Reekardo Chief_Tardis
do you know how many people blew up on thursday and friday? they are going to destroy every short until they have to go long with their last dollar and then flush the market down to new lows. it may take a few months, but they will do it.
Reply
forcing every fund to stay long. forcing shorts to cover. not going to let this market do another 2008 crisis.
Reply
Thanks Tim, entered short
Reply
Thanks for the great info and updates Tim!
Reply
Excellent!
Reply
Hey Tim, Still long, waiting to see if we can get a close above the 100, (better yet 200 AVG.) and use it as the line in the sand. Should be (or could be) interesting few days..............
Reply
Nice chart. I'm also looking for a short entry with the gaps at 19x as possible targets. I'm considering the risk here for a long put position a market that stagnates and/or grinds higher till December from 204 to 210ish.
Reply
Gap up, no fill yet.
Reply
This should be a nice gap up and short situation today.
+1 Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
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 Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out